ScandAsia Singapore - March 2017

MAR 2017
Banking & Financing theme
BUSINESS
LynxEye branding
consultants
PEOPLE
Kim Osborg Nielsen,
Nordea
COMMUNITY
Else Vistisen
Therapy
START-UP
Huone Singapore
events hotel

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Events
MAR 2017
SBAS AGM Dinner
Where: The Tanglin Club, Raffles Room, 5 Stevens Road
When: 22 March, 18.30
SBAS (Swedish Business Association Singapore)
invites you to a dinner to meet Messrs Tan Kai
Liang and Ramesh Selvaraj, Partners of Allen
& Gledhill. They will cover the following topics
during their presentation:
Contract Law – Dos and Don’ts &
Employment Law -Updates/Cases
Allen & Gledhill is a full-service commercial
law firm which provides legal services to a wide
range of clients. It is currently one of the largest
law firms in Singapore with over 300 lawyers.
DABS Annual General Meeting
Where: Danish Seamen’s Church, 10 Pender Rd
When: Thursday 23 March, 6.30pm
DABS is inviting all DABS Members and interested
parties to our Annual General Meeting followed
by an informal dinner.
On the menu is a Danish dinner favourite:
‘Stegt Flæsk og Persillesovs’
Participation is free of charge but to secure
a seat, kindly register before 16th of March by
sending an email to dabs@dabs-singapore.com
NBAS AGM and Breakfast Talk
Date: Wednesday, 22 March 2017
Venue: (257814)
Time: 18.30 Pre-dinner drinks, 19.00 Dinner
starts
Price: S$90 for SBAS Member, S$100 for Guest
Please register at swedbiz@singnet.com.sg by
15 March.
Where: The Fullerton Hotel, Ballroom 3, Lower Lobby, One Fullerton Square
When: Friday 31 March 2017, 08:30 AM – 10:00 AM
Noregian Business Association Singapore
is pleased to invite you to the NBAS Annual
General Meeting 2017, followed by a Breakfast
Talk by the successful Norwegian entrepreneur
Mr. Magnus Grimeland, Group Chief Operating
Officer of Global Fashion Group and Co-
Founder of ZALORA.
Digitalization is a disruptive factor that
all companies need to be aware of in order
to succeed and stay competitive in a fast
moving market. Mr. Grimeland will talk about
Digitalization in South East Asia - a highly relevant
and important topic across industries.
Sign up for this talk to listen to Mr. Grimelands
fascinating and informative story about building
ZALORA into South East Asia’s (SEA) largest
fashion e-commerce company. He will also share
with us the key pillars of building a successful
digital business in SEA. In this context, he will
share his reflections on the fast growing SEA
economy and where the opportunities and
challenges will be.
As Co-Founder and Regional Managing
Director of ZALORA, Mr. Grimeland was
responsible for building and overall coordination
of the ZALORA Group in SEA. After the
ZALORA acquisition by Global Fashion Group
(GFG), Mr. Grimeland is now the Chief Operating
Officer (COO) of GFG and responsible for
Group activities across all core markets in 27
countries in Asia, the Americas, Eastern Europe,
the Middle East and Oceania.
The programme will be as follows:
08:30 Registration starts
08:40 AGM
09:00 Guest speaker Mr. Magnus Grimeland,
Group Chief Operating Officer of Global
Fashion Group
Fee: NBAS Members: SGD 40 / Non-members:
SGD 60
Registration: nbas.org.sg
Banking & Financing theme
BUSINESS
LynxEye branding
consultants
PEOPLE
Kim Osborg Nielsen,
Nordea
COMMUNITY
Else Vistisen
Therapy
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START-UP
Huone Singapore
events hotel

March 2017
Mrs. Else Vistisen
The occupational therapist paying attention to pain
6
ScandAsia
Stories
10 Finland at Ageing Asia
Innovation Forum
11 Swedish Health Ministry’s
Singapore visit
11 Finnish Millennium
Technology Prize
12
Banking & Financing Theme
ScandAsia
Business
9 Huone Singapore
Innovative Finnish events hotel
concept launches
10 Active Aging / Pressalit
New showroom with Danish
solutions inaugurated
19 Inter Airport tradeshow
Power Stow and other
Scandinavian solutions target
Asia’s airport sector
14
Mr. Kim Osborg Nielsen
Nordea Singapore, a Nordic bank in the East
20
Mr. Christian Ihre
Swedish branding consultants LynxEye in a
digital world.
10
11
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4 ScandAsia.Singapore • March 2017

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Community
Paying holistic attention to
By Joakim Persson
Suffering from any chronic pain? Being
aware of too high workload, with
stress-related pain as a result, but
not really doing anything about it?
And what about the all too common
problem with back pain (and that can seem so
elusive)? You have perhaps tried, unsuccessfully,
to cure your particular condition?
This is the moment to pay attention because
there is remedy and someone that can guide you
on a path to ‘enjoying a pain-free and fulfilled life’.
Exactly this is the motto for renowned therapist
Else Vistisen (from Denmark), who actively helps
6 ScandAsia.Singapore • March 2017
people in Asia since 1984, and these days in
Singapore where she resides.
Residents there are privileged to be able to
benefit from Else’s treatments and her unique
therapy method, which is a combination of many
modalities, methods and all other experiences
she has gained throughout the years, hence
deserves ‘unique’ description...
Also, not many therapists are the one that
can actually help where many others, be it
doctors or therapists, have failed. But Else
seems to be the answer, looking at her ‘track
record’.
Definition of pain
Based on the foundation she had built up over
the years Else rebranded herself in 2015 into Else
Vistisen Therapy, which revolves around a 3-step
method that is “effective, intuitive and empathic”.
“I have become so intuitive that I have created
my own therapy,” says Else, as we meet up at her
suburban home clinic.
Pain caused from a hectic work schedule,
strenuous fitness training or recurring pain that
is unresolved should not be neglected, she states.
Her book ‘Pain Free’ brings up numerous
cases of people with pain and their ‘healing
journeys’ with Else, who is a certified occupational
therapist (OT).
“When people see the book they think:
arthritis, headache, knee pain… It’s not only that.
Physical pain, mental pain… you can also feel
social pain.
Everything connecting to where you feel
you’re not good enough, not performing enough,
or being a bit on the outside of society, can be felt
as a pain in your body. And that’s where I know
that I am capable; I can alleviate pain one small
touch at a time.”
“I specialise in providing long-lasting pain relief
and have successfully treated thousands of people
from all over the world, transforming their health,
lives and success.”
Occupational therapist
Her training as an OT, and an Emmett and Bowen
Therapist, has given her a unique ability to provide
an innovative practice. As an OT she is regulated
by Singapore’s Ministry of Health.
Else has studied thousands of hours of
neurology and anatomy. And while Else lived
in many places, primarily in the Asia-Pacific,
she learned about anything from qigong and
acupuncture to the Bowen and Emmett therapies.
And herein lies what is so fascinating, and
really grabs one’s curiosity about her treatments:
seemingly effortless, the light touch of a finger or
just gentle pressure using the thumbs and fingers
are being used; the latter being the “Bowen
moves” over muscles, tendons, nerves and fascia
(a technique is described as a system of subtle
and precise mobilizations). This she studied in
Australia and has a diploma in.
There she also met Ross Emmett, who
founded his own therapy. Here is how she
describes it: “It’s based on a light touch at specific
points of the body. And it’s usually a nerve
receptor; like a light switch. So just by touching
that spot, you can reactivate or desensitise the
nerve. So it’s like working on a computer, using the
nerve receptors as a keyboard. And then it sends
messages into the hard disk, the brain, which then
starts to figure out: O.K, this muscle here needs
to release. This one here needs to tighten up the
ship… So, very fast, within 15 minutes you can,
just by the fingers, help to realign a client just by
knowing exactly where the nerve receptors are.”
Else describes OT as being unknown and

pain – Else Vistisen Therapy
I specialise in providing long-lasting pain relief and have
successfully treated thousands of people from all over the
world, transforming their health, lives and success.
that it is very similar to being to a physiotherapist.
The difference between the two comes with the
rehab of the client. Examples of definitions are
as follows:
An OT works with a client to help them
achieve a fulfilled and satisfied state in life through
the use of “purposeful activity or interventions
designed to achieve functional outcomes which
promote health, prevent injury or disability and
which develop , improve, sustain or restore the
highest possible level of independence.
Definition of physiotherapist: A person
qualified to treat disease, injury or deformity by
physical methods such as massage, heat treatment
and exercise.
“Sometimes I have known that I am not
enough and there must be also a physiotherapist
involved who can mobilise.”
Pain relief for high achievers
“I believe I have my speciality. I do not sell packages.
If you come to me with a problem and there is
no change after 1-2 times I would never ask you
to come back. I then help to find somebody who
can help you.”
“I have just studied so many other therapies,
and I use them as I wish. I’m not just a therapist
working with pain – I work with far more than
that. I believe there is more to a treatment than
just the applied therapy; it is about how you listen
to the client; being intuitive and seeing what do
they really need. But I specialise in acute and
chronic pain relief for busy high achievers.”
“I am not exaggerating if I say that from one
to three treatments 87 per cent of my clients are
pain free. I have made statistics.”
Her problem is that when people turn to
her with their pain they come with very high
expectations and a recommendation from their
doctor or friend that: “Elsa will fix it.”
“Quite often people have already seen other
therapists or doctors before they see me – and
have spent hours and hours and lots of money,
with very little improvement. So when they come
to me they expect it to be fixed in one go. It is
my biggest nightmare when people come here
expecting miracles. And it’s a huge pressure on
me, because I also want to deliver.
But, I have good mentors too. They say: ‘When
you have 87 per cent treatment success you
March 2017 • ScandAsia.Singapore 7

Community
I believe I have my speciality. I do not sell packages. If you
come to me with a problem and there is no change after 1-2
times I would never ask you to come back. I then help to find
somebody who can help you.
are doing very well’. And there will always be
some people that maybe will benefit more from
acupuncture or a chiropractor, and I am the first
one to send them.”
How can I help you?
She also highlights another differentiation: “If
my client needs me two hours I give them two
hours. And they still only pay for one treatment.
For me it’s about the outcome; not about how
long time am I spending helping you. So I work
very different from other people. I’m not saying
I’m better but I cannot live in a system where
I’m not allowed to be spontaneous. I aim to give
the clients the optimal treatment according to
their needs.”
Else sits down and gives the client a
handshake and asks: ‘How would you like me
to help you?’
“I am completely different with that. Those
people whose advices I myself sometimes seek
often tell me what to do. I would never do that.
The clients I have are very personal with me.
They have already seen the other ones and they
know my philosophy. But they also know me
to be very respectful and acceptant of whom
they are.”
And there is no scepticism to overcome
as those getting in touch have already heard
about Else.
Using a three-step method she first does
a full body assessment, which is followed by
therapy during which she also differs in that she
then continues here evaluation. Once she knows
which muscle is tense she manipulates.
The sitting problem
In meeting all the people whom she treats Else
confirms that all the sitting has become a hug
problem.
“I just know that a lot of people have pain,
more than before, I think. People have become
so busy. First of all: they are sitting way too
much, and are in front of computers and their
phones way too much. Just by sitting you start
slouching so we are getting more and more back
problems. And we start to have neck problems
etc. - so it’s increasingly becoming a problem
for many.”
Some clients cannot even switch off their
phone during the treatment, relates Else.
“We are so stressed – we’re never off! You
can be reached 24 hours a day. And you may ask:
what does that have to do with back problems
etc.? Answer: A lot, because if you start to have
a weak point in your body, if you don’t give that
weak point a holiday – which is a physical and
mental rest to reenergise and reconstitute – it’s
just running off track.”
“Live a happy, well-balanced life and a lot
of your worries will disappear,” is Else’s general
recommendation.
“But we live in a world today where people
are becoming more and more fanatic about diet,
work (to be good in everything and effective),
good looks, fitness… you name it!”
“I have three very high-achieving kids. I have
to remind them repeatedly: ‘Listen, it’s time to
step back and relax!’ These are today’s youth and
I am seeing a lot of them as clients!”
“The lifestyle we have today is often one of
the biggest problems behind a lot of pain. And
often I try to take time off myself and think. I also
have pain sometimes – everybody have. I’m a
social person but I’m also a very private person
and I don’t function if I don’t have also my alone
time close to nature.”
“People nowadays so much forget there’s
more to life than just being seen and found. I get
so stressed when I hear about people wanting
that. Who cares! Nothing’s perfect; just try to
achieve a joyful and pain-free life, where you run
your own agenda but not others’.”
“I do try to explain to my clients that they
need to take some time off. I have certain
philosophies and I have always led a very simple
life, that is: you have to learn to make choices
that benefit you. It’s a very simple sentence. It’s
the same as: take responsibility.”
“I just want people to return to their best.
That is my promise and my purpose.”
8 ScandAsia.Singapore • March 2017

Business
Finnish innovative events
concept arrives to Singapore
By Joakim Persson
On 23 February Finnish-owned
Huone Singapore was
inaugurated. This international
expansion is based on Huone
Events Hotel from Helsinki - an
events and meetings concept, basically resembling
a hotel without bedrooms. The new Huone is
branded as Singapore’s most creative meeting
space, here with the bold aim to disrupt the local
events industry.
Behind this exceptional concept there is
also a remarkable story centering on the young
Malaysian female dancer, Evon Söderlund, who,
after a tough childhood, ended up empty-handed
by coincidence in Finland in 2005 and found her
husband and got educated there. Moreover, this
couple dared to do what most people wouldn’t;
namely risking everything, including even their
own house, for a business idea they believed in
so much.
And here they now are, opening in
Singapore as the next step, having proved their
concept in Finland after four years of operation,
during which they had to undergo the ultimate
challenge of double bankruptcies before getting
back on their feet.
For the CEO Evon, once the idea has really
matured, it was matter of throwing herself into
the unknown, or risk having regrets.
“What if I, when I turn 70 one day, and think
about what I have done in my life. What if I had
not taken all the risk to set up Houne. That is why
I decided that, since live only once it might as well
be a roller coaster ride.”
“Now our traction in Helsinki is four years and
we were thinking that coming to Singapore would
be a very good thing because a concept like ours,
if you make it work already and the concept is
proven, where would you take it in terms of the
biggest market? It’s actually Singapore, because
this is actually the biggest international meetings
market in the world, for six years in a row. So
MICE is a big thing here; the demand is here and
the culture is here. Everyone throw events all the
time,” Evon explains why Singapore became their
next step.
It is also a place where the concept can better
evolve further.
“Now when we are still motivated and still
want to learn so much without stopping then
we might as well take on the challenging market;
one that has the biggest demand. So we chose
Singapore. It’s not because of my Asian roots at
all, in fact I feel like this is a totally different country
because I don’t know anyone here.”
In Singapore Evon expects that Huone can
learn with and see with an East meets West
combination how they will take this concept. I
think there is so much there to even improve
or develop so this is not just an expansion for
us, it is also a development phase for us to find
out: Can we be skilled? Can this grow to ten
other cities?”
What triggered the ideas was that Evon
Söderlund and her husband Jussi had thought of
bringing the concept of Karaoke to Finland.
The pondered the idea and brainstormed
while having sauna sessions in Finland.
“I went to study hospitality management had
this idea in the back of my mind all the time. I was
thinking of the angle and I realized that the Finns
love to sing karaoke but won’t do it unless they
are drunk. So the whole idea transformed into
the events hotel, focusing on creativity, meeting
space and hosting companies and doing company
meetings, where our aim is to help them achieve
more in less time,” explains Evon.
With the arrival to Singapore the CEO states:
”We are innovating meeting design and it is our
goal to disrupt and shake up events industry
as a whole. We are focusing on cosier spaces,
providing end-to-end event needs, from event
planning, food, stationery to even technology. At
Huone, events and meetings are hassle-free so
that guests can concentrate on what is important.”
Huone’s Nordic roots is also present within
Huone Singapore with three of the meeting
rooms reflecting Finland. Also carries top brands
from Lapland to give both hosts and attendees the
best Finnish experience, with the likes of Fiskars
(Iittala), Framery, Kyrö Distillery, and Genelec.
“Because we are from Finland we want a
piece of the country and hold on to the Finnish
identity when we go out. The Nordic style of
servicing is not like the Asian; it is about being a
host. They are very well trained. People who are
serving in Finland are actually bachelor degree
holders. They are knowledgeable. If they present
you the wine they know exactly what it is. That
knowledgeable serving style of the hosting part
of I think is great!”
“In terms of the service style the team is
really being pushed very much because they are
not used to hosting. But here we want everyone
to be knowledgeable. Personally I am not used to
someone bowing, I feel: ‘Come on, chill!’”
Huone wants to hold on to the Finnish
identity and feature Finland, where Evon thinks
Finnish people are too humble to speak out about
how great they are!
“I would be more than happy to be an
ambassador to bring that forward because I
would not be me today without Finland. So I can
only say that I am in love with Finland and I am
more than happy to be the ambassador to bring
the greatness of Finland out there. That’s why we
have the Finnish forest room, the cottage room
and the igloo room.”
This opens up for a completely new Nordic
experience for the MICE needs of companies
here with such roots as well.
For Scandinavians living in Singapore, my
personal opinion is that they are anti-hierarchy
and very innovative-minded. So, for them, they
have been dying for a solution like this for a long
time, the fact that they can actually loosen their
tie and just create something new and come up
with new knowledge or have their meeting in a
more relaxing environment.”
And the setting is one that could hardly be
better: situated in a row of shop houses along
Clark Quay, overlooking the CBD, and the very
former centre for Singapore’s trade during its
British colonial era.
“For Scandinavians to come here and
experience Singapore in a different way would be
something that inspires, related to the identity of
this area and at the same time have the creativity
unleashed.”
March 2017 • ScandAsia.Singapore 9

Business
Active Aging and Pressalit open Singapore showroom
The official opening of the exclusive Pressalit
Care showroom took place in Singapore
on 9 January 2017, where the Embassy
of Denmark in Singapore congratulated Pressalit
and its appointed local partner Active Aging LLP.
Active Aging is a 100% Singapore enterprise,
dedicated to enabling seniors and the disabled, to
‘keep living’ well, independently and healthily, with
grace and dignity.
As the Authorized Distributor for Singapore,
Active Aging carries a wide range of Pressalit
products, designed and engineered for people
with reduced functional capacity; that are used in
bathrooms, kitchens and workspaces.
Pressalit, with a history that dates back to
1954, is a leading manufacturer of toilet seats and
flexible solutions for kitchens and bathrooms.
Finland at Singapore International Ageing
Asia Innovation Forum 2017
FinlandCare together with Suomi100
Singapore and the Finnish Embassy in
Singapore will take part in the Ageing Asia
Innovation Forum held in Singapore on 25 – 27
April 2017.
Finland’s centenary year will be celebrated
there with a special seminar themed ‘How to live
to a hundred years old? - in honour of Finland’s
100 years as an independent country’. In addition
to the seminar, a networking event will be held, as
well as a separate Finland seminar.
On the list of confirmed Global Ageing
Innovation Expert Speakers are:
H.E Juha Rehula, Minister of Family Affairs and
Social Services, Government of Finland
H.E Paula Parviainen, Ambassador, Embassy
of Finland in Singapore, Government of Finland
The annual Ageing Asia Innovation Forum
(AAIF) is an international platform held annually
in Singapore that connects CEO level business,
government and community leaders to invest
and collaborate on business opportunities in Real
Estate, Healthcare, Wellness, Finance, Technology
and Senior Care. AAIF aims to showcase the
world’s most innovative models of care that will
improve quality of living and happiness of older
adults in Asia Pacific, focusing on Healthy Ageing,
Independent Ageing and Dignified Ageing.
The latest 7th AAIF in Singapore gathered
over 580 C-level delegates across 17 countries to
exchange insights and identify the opportunities
driven by Asia Pacific’s US$3.3 trillion booming
silver economy.
The 2017 theme of ‘Future of Integrated
Care: Housing, Health & Communities’ was
chosen to reflect the changing needs of ageing
baby boomers who desire to age- in-place,
with relevant housing, health and communities
services that can evolve to suit their changing
requirements as they age.
In 2017 Finnish senior care expertise and
innovations are showcased in the event organized
at Marina Bay Sands Conference Centre.
Sources: FinlandCare, Embassy of Finland in
Singapore, Suomi100 Singapore
10 ScandAsia.Singapore • March 2017

Singapore introduction of Finnish Millennium Technology Prize
Business
On Friday 20 January
2017 the international
science and technology
community was invited to take
part in the Millennium Technology
Prize Introduction Reception at the
Ambassador of Finland, HE Paula
Parviainen’s residence. The guest of
honor, Dr Juha Ylä-Jääski President
and CEO of the Technology Academy
of Finland (TAF), introduced the
Millennium Technology Prize.
The Millennium Technology Prize
is Finland’s tribute to innovations for
a better life. The Prize is worth one
million euros and it is awarded every
second year. The Prize highlights
the extensive impacts of science
and innovation on society, even on
humanity at large.
General principles of the
Millennium Technology Prize:
- Awarded to disruptive
technological innovations that
enhance the quality of people’s lives
in a sustainable manner.
- The innovations have been
applied in practice and are delivering
extensive change now and in the
future.
- The innovations stimulate
further cutting edge research
and development in science and
technology.
The Millennium Technology Prize
encourages further cutting-edge
research and development and is
thus not intended as a reward for
lifetime achievement. The Prize also
highlights the Finnish practical and
solution-focused mindset – one of
the greatest strengths of Finland – to
the whole world.
Candidates for the Prize are
accepted from across the world and
all fields of technology excluding
military technology. In a global
world, people’s lives are affected by
common problems and solutions. It is
therefore also essential that a Finnish
prize can be awarded to anywhere in
the world. Nominations for the Prize
can be made by science academies,
universities, research institutes and
industrial organizations.
The prize is awarded every
second year, the next time on May
22, 2018. The nomination period for
the 2018 prize will open on April 3
and close on July 31, 2017.
To date, the Millennium
Technology Prize has been awarded
to 12 remarkable innovations. The
latest winner is biochemist Frances
Arnold.
Photo courtesy of Marica Salokangas
Source: Suomi Finland 100 Singapore
Swedish Health Ministry’s
Singapore visit
On February 13-14,
Swedish Ministry of
Health and Social Affairs’
representative Madeleine Harby
Samuelsson, visited Singapore.
The main purpose of the State
Secretary’s visit was to gain a deeper
understanding of the health and
elderly care sector in Singapore. Mrs.
Harby Samuelsson led a delegation
that comprised of representatives
from Swecare, The National Board
of Health and Welfare, Business
Sweden, Karolinska University
Hospital and seven Swedish
healthcare companies.
As part of the programme, the
state secretary visited Singapore
General Hopsital, NUH hospital, All
Saints Home, Lions Home for the
Elders and Pathlight School. She also
met with her counterpart, Dr Lam
Pin Min, Minister of State at Ministry
of Health and discussed increased
bilateral collaboration in the
healthcare sector. In another meeting
Mr Faisal Ibrahim, Parliamentary
Secretary at Ministry of Social and
Family Development social and
family development matters were
discussed.
Source: Embassy of Sweden,
Singapore
www.visage.com.sg
March 2017 • ScandAsia.Singapore 11

Banking & Financing
What type of investor are
you? Active, passive or
do-it-yourself investing?
You are your own worst enemy
when it comes to investing. You
can either decide to let someone
else do it for you or create a solid
investment framework to improve
your chances of investment
success.
What type of investor are
you?
First and foremost, you need to
ask yourself what kind of investor
you are. Andrew Stotz helps you
with this in his book, How to Start
Building Your Wealth Investing in
the Stock Market by asking three
questions. There is no “one size fits
all” solution, but you’ll get a good
idea about how to invest and where
to focus by asking yourself; “Am I
interested in picking stocks? Do I
have time to pick stocks? Do I have
the necessary knowledge to pick
stocks?”
If you answer “yes” to all these
questions, then you may choose to
do-it-yourself and build your own
stock portfolio. You may also choose
not to go it alone, but try to identify
a fund manager who aims to earn
you above-market returns, after fees,
due to his/her skill.
If you have little time, interest
and/or knowledge, then keep it
simple. Go for a passive, widely
diversified index fund or ETF that
aims to track the market return at
the lowest fees possible.
Still curious about doing it
yourself or going with an actively
managed fund? First, learn that you
are your own worst enemy.
You are your own worst enemy
There are a wealth of academic
papers, books, articles, blog posts,—
this could go on forever—already
out there, about how behavioral
biases and heuristics lead you to
poor decision making, in investments
and other areas of life. To give you
the short version: you are your own
worst enemy.
If you, like me, want some hard
evidence to prove this argument,
let’s have a look at some common
behavioral shortcomings most of us
(if not all) suffer from often.
You feel a loss two to twoand-a-half
times stronger than an
equal gain, and this makes you loss
averse (Kahneman & Tversky, 1979).
This aversion can be a problem as
you don’t dare to invest due to the
risk of losing money and, therefore,
certainly will not gain anything from
investing either. Loss aversion can
also result in taking on more risk to
avoid sure losses, e.g. by holding on
to a stock that has fallen by 50% just
to avoid realizing that loss.
Have you ever had a friend or
financial advisor who claims, “I knew
it all along” after an event has already
happened? That’s called hindsight
bias, and it leads you to believe that
the world is more predictable than it
really is, and can lead you to become
overconfident in your abilities.
Overconfidence is a concern
as it can impact your assessment
of the quality of the information
you have and your ability to act on
that information. For example, 93%
of American and 63% of Swedish
drivers rate themselves an above
average driver (Svensson, 1981).
Of course, these are impossible
odds; over half of all drivers can not
be better than the average. In the
world of investing, overconfident
traders hold undiversified portfolios
and trade more, which leads to
worse performance (Odean, 1998
and Barber & Odean, 2009).
I may sound overconfident
saying this, but I believe you are
overconfident. Admit this to yourself
too; be humble, do your research,
and acknowledge that you don’t
know everything.
Do it yourself
If you feel that you might, in fact,
be your own worst enemy that
doesn’t necessarily mean that you
can’t do it yourself. Remember that
professional investors also suffer
12 ScandAsia.Singapore • March 2017

from behavioral biases too. A solid
investment framework can help you
deal with this. Here are some basic
principles.
You’ll learn how to evaluate
the attractiveness of a stock, how
to reduce the risk in your portfolio,
how to deal with both winning and
losing stocks, and, ultimately, how
to deal with yourself by avoiding
acting emotionally when you’re
investing.
Four elements of return
Use “FVMR” - it stands for
Fundamentals, Valuation, Momentum,
and Risk. It’s the four different
elements I look at when determining
a stock’s attractiveness.
Fundamentals
A company’s profitability shows if it
is managed well. Choose companies
with high or rising profitability. Some
financial ratios to look at here are
return on assets, return on equity,
asset turnover or operating profit
margin.
Valuation
How the market perceives this stock.
Look for good fundamentals at low
prices, and consider a balance of
valuation and fundamentals. A stock
with great fundamentals might still
be attractive at a higher valuation. A
few common multiples to determine
the valuation are price-to-earnings,
price-to-book, and price-to-sales.
return which should be the goal for
any active investor (otherwise, save
time and effort; just buy a low-cost
passive index fund).
In the paper Ten Stocks Are
Enough in Asia, Stotz and Lu showed
that by holding ten stocks in your
portfolio instead of one, you reduce
company-specific risk by 80%. A
concentrated portfolio of ten stocks
uses diversification to reduce risk
but also increases the chance to
outperform.
that managing your risk is more
important than finding the absolute
best stocks. The reason is quite
simple; we know that stocks and
markets crash now and then, if
you can limit your losses when this
happens, you have a larger chunk
of wealth to accumulate returns on
when it turns and goes up.
Stop loss is a simple, yet powerful,
risk management tool. The benefit of
a stop loss is that you predetermine
future action. When you invest in a
Don’t forget to take profit
On the flipside, you also need to
take profit on your winners. It’s not
easy to know when the right time is
to sell a winning stock. One method
is to set a take profit point, like a
reverse stop loss, so when the price
has gone up to a certain level, you
will sell it and lock in the profit.
This could though, result in losing
future returns as you’re selling too
early. So, another way is to regularly
rebalance your portfolio. Let’s say
you start with an equally-weighted
ten stock portfolio, i.e. each stocks’
weight in your portfolio is 10%,
and one stock’s price performs
exceptionally well so that its weight
become 15% of your total portfolio.
When rebalancing, you would sell
some of your shares until the stock’s
weight is 10% again, and by that,
locking in some of the profit too.
Whether you choose to go
with passive index funds, actively
managed funds or you choose to
do it yourself, you need to first
decide what is right for you. If you
choose passive investing; focus on
minimizing fees. Don’t pay an active
fund manager more than his/her
worth either and don’t pay your
adviser or broker too much. Most
importantly, you need to have an
investment plan or framework in
place, and stick to it.
Momentum
Avoid “value traps” by looking for
positive momentum in both price
and earnings. Momentum in price
examines if the share price has been
going up over a certain period and
positive momentum in earnings
is if the company’s earnings have
risen for some time. A strong price
momentum tells you that the market
is optimistic about the stock.
Risk
Opt for low business and price risk.
Not every stock is going to fly, so,
consider holding some that provide
stable returns and strong dividends.
Hold a concentrated portfolio
Diversification is the necessary
concept of reducing risk measured
as volatility in your portfolio by
holding a large number of stocks. A
passive fund as an example will hold
almost all stocks in the market and
theoretically eliminate all companyspecific
risk.
Diversify and avoid taking
unnecessarily high risk. Too much
diversification though, reduces your
chance of getting an above-market
Manage risk by determining
future actions
The investment guru Warren
Buffet said: “Rule #1: Never lose
money; Rule #2: Never forget Rule
#1.” While it might be hard— or
impossible even—to never lose
money these words of wisdom tell
us that a crucial part of investing is
to manage your risk.
I would even go so far to say
stock, you decide that if the price
drops to a certain level, you will sell
the stock.
The level of stop loss can
vary with markets and investment
strategies, but 20% is often enough,
i.e. if the share price falls by 20%
from your buying price, you’ll sell
your holding; helping you preserve
capital and protect yourself from
your emotions.
About the Author
Alexander Wetterling, CIPM is a
Portfolio Strategist and Founding
Partner at A. Stotz Investment
Research which provides
institutional investors with readyto-invest
portfolios that aim to beat
the benchmark through superior
selection. He is also the Head of
Content for the investment blog,
Become a Better Investor.
March 2017 • ScandAsia.Singapore 13

Banking & Financing
Nordea
a Nordic bank
in the East
By Maria Jønsson
Nordea has been present in Asia
for decades, but roughly 4 years
ago, the Nordic bank decided
to open up a full-scale Private
Banking branch in Singapore. The
bank has since then offered its services to clients
in Asia from its regional hub.
Being a Nordic bank in the East, Nordea
Private Banking cares deeply about maintaining
the Nordic values. So what are the Nordic values
according to the Nordic bank?
First of all, Kim Osborg Nielsen, General
Manager of Nordea in Singapore, explains that
when working with Nordea in Asia, you can
expect that your best interest as a client will
always be in focus. Living the Nordic values mean
that clients are treated fairly at all times and
should never encounter short-sighted thinking
from the bank.
He believes that the Nordic value of treating
each other properly, is basic and something we in
the Nordic region have in common can be proud
of. In Asia, Nordea´s team seeks to stand out by
living this value.
“We make a virtue of listening carefully
to what our clients want. The topics discussed
often go beyond investment of funds and
seeking a return, to include important areas
such as succession planning or the impact
of owning assets in different countries. It is
true that achieving a strong investment
performance remains an important part of
client´s expectations to us. However, being a
relationship bank, trust and personal service is
equally important.” he says.
Nordea sets new course for sustainability.
“Sustainability is very important to us. In the
bank we apply sustainability concerns into all
our core operations and policies. The public
agenda demand that we step up as a sustainable
financial player. Our actions have been to embed
sustainability – also in our offerings to clients
and relationships. As an example, more and
more companies start caring about producing
the paper towels that are biodegradable. When
Nordea Investment Funds invest in companies,
we focus on those, who do not contribute to the
haze-problem that affects parts of South East
Asia. Similarly, private investors have become
more aware that by investing in companies
with a sustainable focus, they may even achieve
a higher than average investment return,” Kim
Osborg Nielsen says, explaining that Nordea
Private Banking has a special focus on this with
their Sustainable Finance Department.
Another factor that the Nordic bank cares
deeply about, is having proximity with their clients.
One of the main reasons for the bank to open
up a branch in Singapore, was to be able to react
faster and offer the same level of personal private
banking to clients in Asia, which the bank provides
in Europe.
Before, Nordea was serving their Asian based
customers from their offices in Europe, but as a
wide range of new country specific regulations
have come into force, more tailored advise is
required to continue to service wealth owners
in Asia well, the Nordic bank found. Nordea´s
customers deserve a faster turnaround time,
and therefore the trip bankers had to take
from Europe to meet the customers had simply
become too long. Kim Osborg Nielsen explains.
“They should be able to work with their
chosen bank all day, and not just from two o’clock
in the afternoon,” he says, “so moving to roughly
the same time zone as our customers made great
sense to us.”
But it is not only being able to meet the
clients professionally that is important to Nordea.
In general, they care about building up a strong
relationship with their customers. Other than
through their professional dependence, they
arrange social and sports events, such as golf
tournaments and Formula1.
But the Nordea Private Banking team in
Singapore knows that they are not perfect,
and they are constantly working to improve
themselves. This, they believe, is done best by
getting feedback from their clients.
“We have this ambition; when you are
a customer of Nordea Private Banking, it
corresponds to checking in to a five-star hotel.
As a guest at a five-star hotel, you won’t feel
it if everything runs smoothly; but the day it
doesn’t, you will feel it immediately,” Kim Osborg
Nielsen says, and continues, “we want to separate
ourselves from the others by offering some of the
best professional skills on the market.”
This is why, he explains, Nordea Private
Banking is strengthening it´s cooperation with
leading business schools in Stockholm, Switzerland
and UK. Before an employee can start advising
customers from the branch in Singapore, he will
have to go through a high standard of education
where the bar is high.
“Our customers should be able to feel the
quality of our craft; that is what we want to stand
for,” Kim Osborg Nielsen says.
14 ScandAsia.Singapore • March 2017

How can you make your money
work while you enjoy life?
Find out by calling us in Singapore
on +65 6597 10 70
or email at nordea@nordea.sg
www.nordeaprivatebanking.com
Nordea Bank S.A, Singapore Branch is part of Nordea Group, the leading financial services group in the Nordic and Baltic Sea regions. Some products and services may, due to local
regulations, not be available to individuals resident in certain countries and their availability may depend, among other things, on the investment risk profile of persons in receipt
of this publication or on any legislation to which they are subject. Nothing in this publication should be construed as an offer, or the solicitation of an offer, to purchase, subscribe
to or sell any investment or product, or to engage in any other transaction or provide any kind of financial or banking service in any jurisdiction where Nordea Bank S.A., Singapore
Branch or any of its affiliates do not have the necessary license. Published by Nordea Bank S.A., R.C.S. Luxembourg No. B 14.157 on behalf of Nordea Bank S.A., Singapore Branch,
138 Market street Capita Green #09-03 Singapore 048946. www.nordeaprivatebanking.com subject to the supervision of the March Monetary 2017 Authority • ScandAsia.Singapore of Singapore (www.mas.gov.sg). 15

“
THIS IS AN ADVERTISEMENT FROM SEB S.A.
SEB in Singapore
The Swedish financial banking group
SEB serves private individuals, small
and medium-sized enterprises as
well as large corporates and
financial institutions through its
branch office in Singapore.
“
customers
International wealth management services to
residing in the Asia-Pacific region
WHERE TO FIND US
50 Collyer Quay #12-03
OUE Bayfront
Singapore 049321
OVERVIEW OF SEB
SEB, a Swedish financial banking group established in 1856, serves
approximately 3,000 large corporations and institutions, 400,000 small
and medium-sized enterprises (SME) and four million private individuals
through its branch offices in the Nordics, Baltics, Frankfurt, Luxembourg,
Singapore, Hong Kong, Shanghai, London, New York and other financial
centres around the world.
PRIVATE BANKING IN SINGAPORE
As a leading cross border private bank for primarily Nordic and German
citizens residing abroad, SEB in Luxembourg opened a private bank
branch office in Singapore in 2005, providing international wealth
management services to customers residing in the Asia-Pacific region. As
the first Nordic private bank in the region, SEB offers its clients account
facilities in Singapore and a full range of traditional private banking
services including investments, individual wealth planning services,
mortgage solutions, direct market access via our Active Trading desk and
much more.
LARGE CORPORATES & FINANCIAL INSTITUTIONS
The Large Corporates & Financial Institutions team in Singapore provides
a full range of commercial banking activities with emphasis on trade
finance, local currency financing, cash management, shipping finance
and treasury services aimed at the needs of Northern European and
German companies and their counterparts in the region as well as
Financial Institutions in Asia. Apart from Singapore, SEB has regional
offices in Hong Kong, Shanghai, Beijing and New Dehli.
CONTACT PERSONS
Private Banking
Mattias Lindahl
Senior Private Banker
mattias.lindahl@sebprivatebanking.com.sg
Tel: +65 6357 0898
Large Corporates and Financial Institutions
Jan Stjernström
General Manager
jan.stjernstrom@seb.se
Tel: +65 6223 5644
www.seb.se
www.sebgroup.lu/privatebanking
Skandinaviska Enskilda Banken S.A.
50 Collyer Quay #12-03 OUE Bayfront, Singapore 049321. Tel: +65 62 23 56 44. Fax:+65 65 32 45 38
singapore@sebprivatebanking.com.sg. www.sebgroup.lu/privatebanking

Planning your future for you and
your loved ones. Together.
At Private Banking within SEB, we acknowledge that everyone has a unique set of
challenges. We concentrate on developing meaningful, long-lasting financial
relationships and make the effort to really understand you and your requirements.
Your own private banker, client assistant and experts are dedicated to help you achieve
your goals. Together we take a holistic approach, aiming at a well-planned future for you
and your loved ones.
To find out what we can do for your personal wealth,
contact us in Singapore on +65 63 57 08 95
or via singapore@sebprivatebanking.com.sg
sebgroup.lu/privatebanking
March 2017 • ScandAsia.Singapore 17

Banking & Financing
OECD’s
Common
Reporting
Standard
(CRS)
the impact on you
By 2018 practically all countries will
automatically exchange financial data
for tax purposes, in an initiative led
by the Organisation for Economic
Cooperation and Development
(OECD).
The Common Reporting Standard (CRS),
in effect in Asia since 1 January 2017, is an
internationally agreed standard for the automatic
exchange of information (AEOI) on financial
accounts between jurisdictions for tax purposes,
with the objective of enhancing tax transparency
to detect and deter tax evasion through the use
of offshore bank accounts.
As for the case of Singapore the country is
this year asking financial institutions to establish
the tax residency status of all their account
holders and report some of the financial data to
th IRAS (Inland Revenue Authority of Singapore).
For Singapore the first international exchange is
to take place by September 2018.
A financial institution is a company which
is a depositary institution (typically companies
that manage depository accounts), custodial
institutions (companies offering custodial accounts
or similar to customers), investment entities
(typically investment funds) or an insurance
company, which offers savings products such as
an endowment insurance.
All account holders should upon request
provide their Financial Institutions with information
and supporting documents to establish their tax
residency status.
Banks and other FIs will typically use a
self-certification form to collect tax residency
information, writes IRAS.
“In addition, FIs may ask the account holders
to explain or provide supporting document to
verify the accuracy of the information that they
have provided on the self-certification. Account
holders are advised to check with their FIs if
they are unsure of the purpose for which the
information is requested for.”
IRAS advices that in general, the tax residency
of individuals, is determined by the period of a
person’s physical presence or duration of stay in a
jurisdiction in a year (e.g. whether the individual’s
stay in a jurisdiction is over 183 days over a tax
year).
IRAS stresses that it is important that you
respond when you are requested by your
financial institution to provide information or
documentation to establish your tax residency
status.
“If you do not provide the requested
information or documentation, your financial
institution may be obliged to report your
account information to IRAS, refuse to open new
account(s) for you, or in certain cases, close your
existing account(s).”
“Wilfully providing false information on your
tax residency status may subject you to a fine
not exceeding $10,000 or to imprisonment for a
term not exceeding 2 years or to both.”
A representative of Nordea, one of the
Nordic banks operating in Singapore, states that
they are reaching out to all their client to selfcertify
to ensure that the reporting is made
correctly and since the bank will report that
information automatically. It is important to fill
in the information per CRS standard to ensure
reporting in the correct country, e.g. where the
account holder is declared as resident.
Nordea in Asia will for the first time report
under CRS in 2017. What customer info will
Nordea report under the CRS?
With respect to the year 2016 and onwards
on an annual basis, the Nordea will report the
following information starting in 2017:
• balance/value on depository accounts,
custodial accounts, insurances and fund
accounts
• information about interest, dividends and
other returns
• gross proceeds and gross amounts (for
example from sale of securities and equity
and/or funds), and redemption payments.
“Credit of tax, to avoid double taxation, may
in some cases be allowed for income taxed in
another country. This depends on whether there
is a double taxation treaty between the countries
in question,” writes Nordea.
“We should recommend the customer to
contact a tax advisor in case the customer needs
assistance with correcting a tax return or has
questions how this procedure works. Generally,
we may recommend any of the major accounting
firms (PwC, EY, Deloitte, KPMG) as they usually
have local contacts in all countries and can handle
any issues that may come up because of the tax
liability in another country.”
The following accounts, writes Nordea,
are considered to be Excluded accounts (no
reporting under CRS):
• pension related insurances and pension
savings accounts which meet certain
criteria
• accounts held by estate,
• escrow accounts and,
• accounts held by publicly traded
corporations or a related entity of such
publicly traded corporation
Sources: OECD, Inland Revenue Authority of
Singapore, Nordea
18 ScandAsia.Singapore • March 2017

Business
Scandinavian solutions
at airport tradeshow Singapore
Ole Brinks Andersen and Thomas Halfdan Andersen from Power Stow
By Joakim Persson
Many Nordic companies and
solutions exhibited (among 100
of the world’s leading airport
equipment suppliers) at the Inter
Airport South East Asia trade
show at Singapore EXPO from 15 - 17 February
2017.
They were AirPo Products, Axa Power, Efla Oy,
Hobart, ITW GSE, J&B Aviation, Power Stow A/S,
Plus Eight System, Saab Group and Vestergaard.
Inter Airport presented the latest trends
technologies and enhancements to improve the
operational efficiency of airports within the region,
which is seeing as well as anticipates tremendous
growth in air traffic in the coming two to three
decades. This draws attention from tried-andtested
solutions providers as well as new innovative
solutions for efficiency
The exhibition featured a specialised GSE area
featuring the best Ground Support Equipment
available, in addition to equipment and services
associated with the operations of terminals, ATC,
and cargo facilities.
One such innovation now out to grow within
the high growth Asian region is Power Stow A/S
from Denmark. Their single product is the Power
Stow Rollertrack – a unique and flexible extension
integrated into a belt loader.
Constant product development and
engineering are the main components in this very
reliable and cost-effective extendable belt loader
system, which has given Power Stow its position
as market leader.
Power Stow is a separate business started
by one of the Vestergaard family members and
developed from scratch since 2003, and with
600 units of their sophisticated system in use
worldwide.
This solution helps ground-handling companies’
load and unload baggage and cargo faster and more
efficiently, while improving working conditions for
their staff.
Its main purpose is to save on manpower, said
Thomas Andersen, Vice President of Marketing and
Sales Asia at the trade show.
“If you a load manually load you will have 2-3
people inside the hull of the plane, while we need
only one, and only two operate. For manual belt
loading they will probably use 4-5 people, so it’s
cutting down manpower. And it reduces injuries
on your body from lifting and throwing bags in a
very difficult environment. Also, damages to bags
are reduced. And with less manpower we can
do a faster turnaround on flights, which is not
insignificant at all,”
Using Power Stow reduces turnaround times
of up to 30% and there are 50% fewer back and
shoulder injuries as a result. Damage to baggage
and floor is drastically reduced, as bags no longer
need to be thrown.
It’s a unique product – we have hardly any
competition – and you can say that it‘s a niche
market. There are a few products that try to do
similar things but we are in a unique selling point
position of a unique product.”
Targets are airports, airlines and ground service
companies.
“It’s a cultural thing; in Europe it’s very much
ground service companies. In some airports in
America it’s only airlines. Here in Asia we have a
mixture of the three, depending on the culture
you have.”
Thomas Andersen’s job is to repeating the
American success that they experienced. Their
Hong Kong office opened in August 2016 and
is now expanding with one area sales and local
person.
Power Stow attended Inter Airport SEA to be
seen and build on their huge reference base and
to showcase their high-end quality. Their customer
base includes American Airlines, Southwest, KLM,
Swissport, Menzies and other global ground
handling companies and airports.
“We want to make sure that prospects have a
chance to know about us, and have the comparison.
And one of our biggest discussions is always about
price, because we are talking about an expensive
product made in Europe. So we always have to
look at total cost of ownership and really make
sure to show the client that the long running hours
and that the maintenance is straightforward of this
quality product. And then you have to calculate
cost of manpower and all the other parameters
that we sell on and give a business case to the client.
Even in Asia where manpower cost is less we still
see a business case.”
Thomas also pointed to that no one will lose
their job dues to using Power Stow, since there
are plenty of other jobs for them to do at airports.
South East Asia is currently recording some of
the best economic growth rates in the world, and
is also forecasted as the fastest growing aviation
market over the next twenty years.
Mr Daniel Ng, Director of Aviation Industry of
Civil Aviation Authority of Singapore (CAAS, said
at the opening ceremony: “Increasingly, technology
and automation are becoming important themes, as
airports seek to become more efficient amid rising
labour cost, larger traffic volumes and shortage
of manpower. CAAS and Changi Airport works
closely with various stakeholders, such as airlines
and ground handlers, to accelerate the adoption
of technology for airport-wide programmes that
would benefit the airport community and enhance
passenger experience. Events like inter airport
South East Asia are important as they provide
a platform for new ideas and technology to be
showcased”.
Mr Michael Wilton, Exhibition Director for
organiser Mack Brooks Exhibitions Asia Ltd, said,
“The rising demand for air travel across the
region is an overriding trend. This creates the
need to continuously develop airports across the
whole region. The exhibition serves this need and
supports the industry to achieve growth.”
The narrow body aircraft type that Power
Stow is being used for is the one with biggest
growth in Asia, so the future seems bright for the
Danish company.
“Globally we have a market potential of up to
7000 units so we have only touched ten per cent
and the market share of this narrow body aircraft
type is still increasing,” said Thomas.
March 2017 • ScandAsia.Singapore 19

Business
Swedish branding consultants
LynxEye makes brands
stay relevant in the
digital world
LynxEye co-founder and partner Christian Ihre
By Joakim Persson
Fast increasing digitalisation and
disruption are on everybody’s lips, with
many businesses, based on yesterday’s
models, struggling in this new online
landscape.
The brands of today may, or may not be the
brands of tomorrow. It depends on how they
act and adapt in order to truly matter. Today
consumers define the products and services to
be developed and consumed (rather than the
opposite way around). And with that comes
challenges that require attention at the very
core of any business. That is where the Swedish
brand management company LynxEye, with
offices in Stockholm, Singapore and London,
expertly assists.
Spearheaded in Singapore by co-founder
and partner Christian Ihre, they come up with
strategies that help companies stay relevant for
the long term and in future scenarios – whatever
these may bring.
Most companies they meet know that
change is inevitable, but not many know how to
manage it. But, guided by LynxEye, brands and
businesses can foresee and lead game-changing
disruptions in their industry.
“What we do is assist companies to find
themselves, or help launching on a new market
and then help to find where there is growth
potential,” explains Christian at a café across
from their downtown Singapore office.
“How will the consumer of the future evolve
and how can I position my brand to reach a
growing target group that suits our kind of core
competence? And position it in a way to become
future proof in times of such rapid change.”
LynxEye developed a method for this quite
“early”, and did exactly this market entrance
for Spotify when they entered into the U.S.
In Sweden they assisted the Swedish evening
newspaper Aftonbladet in their successful digital
transformation, to mention another client.
“That is within media the most successful
digitisation of its kind in the world, actually.”
They also assisted Volvo Cars’ previous
owner Ford in making the Swedish brand
attractive for a new owner, (in itself a really
interesting case story).
“So we help companies with larger
transformations; to direct them towards a new
positioning on the market and ensure that it gets
implemented.”
Christian elaborates further: “We look at
what positions are actually steering a business;
20 ScandAsia.Singapore • March 2017

How will the consumer of the future evolve
and how can I position my brand to reach a growing
target group that suits our kind of core competence?
And position that in a way so that one becomes future
proof in times of such rapid change.
how will it evolve in the future, and what the
company can do to head toward that position
already today? And this is across the whole
company, because a brand is not being created
through its communication but it has become
so multi-faceted that today it’s more about
ensuring that every little facet, every meeting
point between the company and its consumers,
speak the same message.”
But repositioning has a lot to do with the
experience as such.
“Where the digital experience or the
meeting with the web takes place is where the
brand is being created in your consciousness;
where you get the impression of what kind of
brand this really is. We have therefore expanded
the business from being just strategy consulting
into also assisting the digital transformation: how
do I make my brand to be relevant when it has
turned completely digital.”
And this digital transformation, says Christian
is actually about something else: to find positions
in a digital world. Understand implications for
your brand in future scenarios!
“What opportunities are given to me in that
digital world when I try to position my company
in a certain way. Now you have all these digital
tools, use them! But you really don’t know what
to use them for. What is it they should create?”
“You must have a clear focus on who you
are there for. And what need is there to satisfy
for those persons, and then use the technology
to ensure it happens.”
LynxEye works a lot with scenario analysis;
looking at where the consumers are going in
the future, what will affect them and how their
behaviour will change, so that LynxEye can set
strategies for how these companies should
develop to end up right in five years’ time from
now.
And that can mean a company needs to
start completely new things: “Absolutely! We
are, for example doing a parallel process with
a regional bank, completely outside their core
business. We are to build an entirely new bank
based on that they can see that their consumers
are heading in a completely different direction
than where a traditional bank can be relevant
to them.”
These ‘outside in’- driven strategies, says
Christian, is the reason behind why LynxEye has
been so fortunate with good growth and a good
customer base.
“Before, it was good information to have
but these days it’s absolutely defining, since
there are so many markets being completely
torn to pieces by companies from completely
different categories and industries that through
the technological possibilities we have today all
of sudden start competing with you.”
“Development on the markets in this
region is so fast today that they need help with
understanding what will be relevant tomorrow,
because once the strategy is changed and new
products developed, you are a few years into the
future, and then your strategy should not already
be obsolete. The method we have developed
in anticipating where the market is heading has
been our success here.”
“The more disruption the better for LynxEye!
Because what it means is that the old truths
are no longer valid. Then our methodology
comes in handy, where we say: “Disregard all
the tech opportunities at hand, and all the
new competitors that might show up, and just
focus on the market you want to aim at, or
the companies you want to have as clients, and
where are they heading. What are they trying
to achieve and where can you give them new
opportunities?’ Then you find where they are
heading and that they will be attracted by these
kinds of products going forward,” says Christian
and adds: “This is much more difficult on market
standing still because then those companies are
sitting with enough knowledge on where they
are going and much less need our assistance.”
Local and regional players in Asia can feel
competition on a scale never before seen.
“They must be clear with their relevance
and differentiation and what products they have
that others do not have. So, that has in itself
made our approach grow more attractive for
our customers. And we have been with them
in coming up with their product portfolio and
innovation processes in order to come up with
consumer-relevant results.”
LynxEye has also had to adjust their services
to be relevant on the Asian market.
“Here one is more transactional. Long,
fluffy strategies that will help them sometime
in the future aren’t really the Chinese mentality,
but rather: if you recommend something
tomorrow, how do I make money on it
today? We need to come up with these rapid
tactic recommendations: ‘Here you have an
opportunity that you can do already tomorrow,
which is the first step,’ and help them very handson
in making those happen.”
LynxEye’s aim is to become one of the
world’s top three authorities within brand
management.
“We started having so many assignments
in Asia that we had a critical mass to actually
develop locally. That combined with having this
vision to become one of the three leading brand
agencies means that we must be here, in the U.S
and in Europe.”
Their Swedish origin is also a strong
advantage over in Asia, where Christian believes
they can ride on the wave of Sweden’s brand
that stands for things growing in relevancy in
Asia: sustainability, environment, equality and
innovation.
“I came here with the idea that people did
not care where one is coming from, especially
when from a small country like Sweden. But
I more and more have started to push our
Swedish pedigree as that gives us trust.”
“Lynx is a Nordic animal. And our Nordic
values are the base that we have always had and
that we find to be very important.”
March 2017 • ScandAsia.Singapore 21

Community
Cold Potato salad
With this recipe for 4 perssons you can easily make
one of the most delicious lunch dishes enjoyed by all
Scandinavians.
• Boil the potatoes with the skin
on and peel the skin of when
the potatoes are cooled - that
makes the potatoes more firm.
• Slice the potatoes, on the long
side, into three or four slices,
not too small.
• Mix the wet ingredients in
a bowl, add the rest of the
ingredients, taste with salt and
pepper to suit your taste and
finally add the peeled potatoes.
• Turn it all around in the bowl
with a big spoon carefully, to
preserve the potatoes from
breaking. Top with some fresh
spices and tomatoes.
• Let it calm/cool in the
refrigerator for at least 30 min.
15 egg sized Potatoes
2 1/2 dl. sour cream
2 1/2 dl. soured milk or yogurt
natural - not sweetened!
2 teesp. sweet mustard
2 tablesp. teared shallots
2 teesp. lime
2 teesp. fresh chives
2 teesp. parsley
Salt and pepper
Tomatoes as garnish- optional
Tip:
Alternative to sour cream is to use yogurt natural add with a bit of
sugar, olive oil and whipped cream. Then you will also get a more calorie
reduced salad.
Make it your own personal salad! Add other vegetable with the potatoes
for instance pineapple, mango or whatever you like. The best fruit or
vegetables to add are the hard ones, so they wont get smashed.
22 ScandAsia.Singapore • March 2017