ScandAsia Singapore - March 2016

MAR 2016
Dreaming big
with Frontier
in Southeast Asia
ScandAsia.dk ScandAsia.fi ScandAsia.no ScandAsia.se

Open House
Register at www.sais.edu.sg
Friday, March 18 th 2016
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Coming Events
MAR 2016
Swedish
Business
Association
Singapore’s AGM
Where: Tanglin Club, 5 Stevens Road
When: 29 March, 18:00 - 21:00
Save the date 29 March 2016, and attend
the SBAS Annual General Meeting!
Please note that this is the updated date
for the AGM. The venue will be at the
Tanglin Club and the meeting will start
at 18.00, followed by dinner at 19.00. A
representative from SIMC (Singapore
International Mediation Centre) will give
a talk on how SIMC provides world class
mediation services for cross-border
commercial disputes.
Register at www.sbas.org.sg
DABS Annual Ball
Where: Hotel Ritz Carlton
When: Saturday 9 April
DABS Annual Ball 2016 with entertainment by
the most popular singer in Denmark since the
middle of the 1980s; Thomas Helmig!
Come and sing and dance with Thomas Helmig
and Band at the grand hotel Ritz Carlton for
another fantastic DABS Ball. More than 250
guests - both members and non-members - have
already bought their ticket and we hope you will
join us as well!
To sign up for tickets please send an email
including the names of your guests to dabs@
dabs-singapore.com. Your reservation is not
confirmed until payment has been settled.
Scanbiz Bar
Singapore
Where: Vasco, Hong Kong
Street.
When: 7 April, 18:00 - 23:00
Save the date 7 April 2016.
It’s the first Thursday of the
month, which means it’s time
for Scanbiz Bar! SBAS - Swedish
Business Association Singapore
invites fellow Scandinavians
to come and meet friends,
or make new ones over this
monthly networking event.
As always, there is special
Scanbiz offers all night, but
don’t miss happy hour from
6pm-9pm.
The venue is Vasco on Hong
Kong Street.
Everyone is welcome! Be
prepared for a truly festive
Thursday night!
Scandinavian Women’s Association
hiking Southern Ridges
Where: Henderson Road, SingaporeSouthern
Ridges
When: 8 April, 09:00 - 12:00
Begin the weekend with a beautiful hike along the
Southern Ridges in rain forest and over amazing
bridges with SWA.
Beginning from 9am, the tour will end around lunch.
More information to come!
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in Singapore
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Dreaming big
with Frontier
in Southeast Asia

News Brief
Danish embassy meets artist/goodwill
ambassador Kristine Oustrup Laureijs
On 15 February the Embassy of Denmark
in Singapore had the pleasure of talking
to contemporary artist and Danish
goodwill ambassador Kristine Oustrup Laureijs
during a lunch meeting on Kristine’s “Tree of Life”
installation. She delivered a powerful message
on food habits and the demand for more
industrialized food, especially in the light of haze
and the reasons behind the haze.
Well-known from formerly at the helm
of Qi GLOBAL Kristine Oustrup Laureijs has
“transformed” into an installation artist exploring
the complex relationship of humans, nature and
food under the theme of Mamakan (meaning
“mother”,“home”,“eat”).
In the “piotal year” 2015 Kristine realised that
her purpose, professional love and talent in life
was as an artist. And that her humble contribution
to the art world would be stemming from magical
marriage of art and food, she writes on her own
website.
“I believe that our relationship with food
represents the relationship we have with nature,
at the most intimate level: the admiration, love,
destruction or dysfunction. What if we ourselves
are nature? By exploring different aspects of food
through interactive art installations, we become
aware of our connection with nature, ourselves
and each other.”
“Tree of Life” explores the connection
between the fires and our everyday consumption.
The interactive installation penetrates the paradox
of desire and temptation dating back to the story
of Adam and Eve.
Tree of Life will show in Singapore the later
part of 2016 and then travel to other destinations.
Kristine’s professional journey has taken her
from Brazil to Europe to Asia, back to Europe
and then back to Asia. She has worked her way
through the fashion and luxury industries, the
worlds of charity and social entrepreneurship,
from modelling over trend forecasting to
management consulting for some of the world’s
biggest companies.
Danish housing
delegation visits
Singapore
In mid February 2016 a delegation from the
Knowledge Centre for Housing Economics,
Copenhagen visited Singapore to learn about
the Singaporean way of housing its population,
reports Embassy of Denmark, Singapore.
The visit included interesting meetings with
the National University of Singapore, Savills
Singapore, and Housing Development Board
(HDB) among others, and site visits with the
Urban Redevelopment Authority to some of the
Singapore heritage Black-and-White-Houses.
Jailed Norwegian fined after retrial
Norwegian Arne Corneliussen’s has been
fined $2,000 after retrial, reports news.
asiaone.com, based on a charge of
causing hurt by wrapping his arm around the
neck of a cab driver. This marks the end of his
one-and-a-half-year-long ordeal, dating back to
September 2014.
This was a lesser charge compared to his
previous charge of causing hurt by grabbing taxi
driver Chan Chuan’s neck and choking him at the
Boat Quay area after a night of drinking on Sept
22, 2014. For that, he was sentenced to 10 weeks’
jail last April.
He admits guilt over hurting a cabby. Now,
Arne Corneliussen (Singapore permanent
resident) wants to put the entire incident behind
him.
So much so that the Norwegian national
is willing to forgo the $30,000 he had paid taxi
driver Chan Chuan Heng as compensation.
But he told The New Paper he is still not
ready to forgive the cabby for his part in the
incident, which caused him to lose his job and
spend nearly six weeks in prison on a conviction
that was later quashed.
4 ScandAsia.Singapore • March 2016
Said Corneliussen, 51, yesterday: “Do I forgive
him? That is a good question because I still don’t
know how I feel about that.”
The he added: “I have given this a lot of
thought and in a way, I don’t wish to blame (Chan)
any longer. He is going through his own trial. It’s
his turn now.”
Last September, Chan was charged with
causing hurt and providing false information to
the police. His case is still before the courts.
Corneliussen added that he also does not
fault the police and the prosecution as they had
“worked with all information they had at the
time”.
His case took a dramatic turn a month later
when two new witnesses said Chan was the one
who had attacked Corneliussen.
Corneliussen and Chan had a disagreement
over the taxi fare as the cabby had wanted
to charge a flat fee rather than use the meter,
according to witnesses’ testimonies.
The witnesses had left the scene before
police arrived and reacted only months later, after
reading a newspaper report about Corneliussen’s
conviction.
The new evidence led to the quashing of his
initial sentence.
Corneliussen was released after spending
five and a half weeks in jail - more than half his
original sentence - and his case was sent back to
the courts.
In the State Courts the prosecution
recognised that Corneliussen had already served
nearly six weeks in jail, but submitted that a
deterrent sentence is necessary.
He was fired from his previous job as a
director with DHL and has been unemployed
since December 2014. He had been working at
the international logistics company for 29 years.
He also incurred a hefty legal fee and his
personal reputation was affected, he said.
Source: news.asiaone.com Photo: Terence Ong

1ST TIER
U.S. UNIVERSITY
Early Acceptance to
Northwestern
University
Congratulations to
Stamford American student
Jen Kit Ker, 1 of only
106 international students
to gain early acceptance into
Northwestern University.
Preparing students for life beyond Stamford American
International School, at a college or university in the U.S.
or worldwide, starts from the earliest point.
The best of American and International
Baccalaureate Curriculums
Right from the start, Stamford American students have access to the
best of both worlds – the challenging American Education Reaches
Out (AERO) standards combined with the International Baccalaureate
(IB) Program. Students graduate with either the International
Baccalaureate Diploma or American High School Diploma with
Advanced Placement credits, or both, offering unparalleled choice
and competitive advantage in university placements.
American’s academic teams to provide students with ample
tailored support in preparing for the SAT I, SAT II and ACT,
offering the best chance of acceptance to the tertiary institution of
their choice.
World Class Counseling
Stamford American students considering a university education
in the U.S. are privileged to have easy access to the very best
information on campus, with Stamford American’s exclusive
partnership with the U.S. Department of State’s EducationUSA.
An Advising Center that provides the most authoritative
resources, up-to-date information and counseling on any of the
4,500 accredited colleges and universities in the U.S.
Rigorous Academic Preparation
Stamford American is the only school in Singapore to offer
Measures of Academic Progress (MAP) assessments from age
5. This personalized assessment of reading and math provides
detailed, actionable data to differentiate instruction for each child
Find out more at Open House
March 18th 2016 at 9am.
Register at www.sais.edu.sg or call +65 6653 7907.
and measure academic growth throughout the school year.
In addition, Stamford American is unique in offering pre-university
testing from Grade 8. This early introduction allows Stamford
March 2016 • ScandAsia.Singapore 5

News Brief
Finnish Innovation Event held in Singapore
A
Finnish Innovation Event was arranged
in Singapore on 24 February with
the companies with Silverskin, AirGo,
Management Events and PlayGain in session at
the Aalto Executive Education Academy.
Opening words for the evening event came
from professor and author Dr. Kirsti Lindberg-
Repo. It also saw business innovation presentations
by Silverskin, Airgo, Management Events and
Playgain within the topic ‘What are the hottest
Finnish companies conquering Southeast Asia
What is their innovation all about’
The event also included company demos and
networking.
The cyberattack company Silverskin’s
innovative concept is built on ethical hacking. With
permission from its customers Silverskin tests
how easily customers’ systems can be penetrated
by hackers.
AirGo Design Pte Ltd is a privately-funded,
Singapore-based start-up with a patent-pending
and award-winning design concept, praised by
media in over 10 different languages as ‘The
Future of Airline Seating’.
Management Events’ innovative concept
brings together top-level executives and solution
providers, providing high value to both parties. Its
concept attracts 20 000 visionary leaders to our
events in eleven countries, over 170 times a year.
PlayGain is a game lab providing games for
better HR-management. The games are based
on multidisciplinary know-how, scientific research
and pedagogical learning principles.
Finnish Consulting Group sets up Asia hub in Singapore
Auli Keinänen, Regional Director, Asia
Finnish Consulting Group’s Board of Directors
recently visited the Embassy of Finland in
Singapore in late February 2016, coinciding
with the establishing of FCG’s new Asia hub.
Finnish Consulting Group Asia in Singapore
consolidates the strengths of FCG Group
companies, offering the best Nordic and
international expertise to a growing number
of clients in Asia. The hub allows FCG to work
closely with their existing and new clients in Asia
and stay ahead of business opportunities in this
rapidly developing region.
The hub enables the FCG teams working
in various areas of expertise to provide their
services in new international growth markets.
FCG’s increased regional presence and networks
in Asia will also benefit FCG’s partners, including
Nordic companies and organisations that have
6 ScandAsia.Singapore • March 2016
an interest in expanding their activities in the
continent.
In international projects FCG’s strength lies
in their local market presence, in their solid and
versatile international experience, as well as in
their highly efficient staff both at home and in
fieldwork, explains the FCG website.
FCG has been working towards sustainable
development in Asia since the 1980’s, implementing
major projects in water supply and sanitation and
rural development in Sri Lanka, Nepal and Viet
Nam. As the priorities of the countries have
evolved, the scope has expanded include natural
resources and environmental management,
energy, agriculture, climate change, education,
ICT, innovations and SME development. During
the years FCG has gained experience from most
parts of Asia, with a geographical reach all the way
from Middle East to the Pacific Islands.
Based in Singapore, Finnish Consulting
Group Asia is naturally well connected with
South East Asia, but will work also with promising
opportunities in other parts of the continent. The
Asian countries are also increasingly investing in
development in other parts of the world. FCG
is well positioned to support this through its
networks in Africa, Middle East and Europe.
FCG’s major clients include Asian Development
Bank, World Bank, European Union, Governments
of Finland, Sweden, New Zealand and other
bilateral donors. With the establishment of Finnish
Consulting Group Asia, FCG stands ready to
respond to the needs of the rapidly changing
development financing market in Asia, with the
emergence of new international financing for
infrastructure, sustainable development and
climate change response, as well as the increasing
capability of Asian countries to finance their own
development.
Finnish Consulting Group Asia builds upon
the FCG’s long experience, utilising the expertise
and solid project management systems of the
company head office in Finland. The key staff
members of Finnish Consulting Group Asia
are long term FCG employees, ensuring the
continuity and synergies between FCG Group
companies. New talent is recruited in areas that
have the strongest growth potential in the future.

Sweden’s Defence
Ministry at
Singapore Airshow
2016
The State Secretary for Sweden’s Minister
of Defence Mr Jan Salestrand attended
the biggest airshow in Asia on 16 - 21
February.
The state secretary also had a number
of bilateral meetings in Singapore including a
Courtesy Call on Senior Minister of State for
Defence and Foreign Affairs Dr Mohamad Maliki
Osman.
Source: Embassy of Sweden in Singapore
Photo Credit: Ministry of Foreign Affairs,Singapore
Danish Ambassador
in Singapore leaves
this summer
By Frederik Guy Hoff Sonne
Berit Basse, Danish Ambassador in Singapore,
is leaving the embassy this summer after
four years of service due to a larger
Ambassador shuffle.
She will be replaced by Dorte Bech Vizard,
currently Director in the Danish Foreign Affairs
department, Invest in Denmark and Innovation.
In an interview from 15th of October 2012,
back when she was just assigned as the new
Danish Ambassador to Singapore, she told
ScandAsia how she as ”an enthusiastic 22-yearold
back-packer traveling across Asia, fondly
recalls her first, daylong stopover in Singapore in
the mid-eighties” and that she “Even back then, it
struck me as orderly and clean”.
Now, four years later, Berit Basse can take look
back at four years of hectic activity in Singapore.
During her time as Ambassador, Berit Basse,
has been praised for her lively assistance in
developing the market for Danish investments in
the financial powerhouse of Singapore, but she
has also been tested to the limit when the giant
Danish company OW Bunkers went bankrupt
in 2014.
News Brief
With a Master of Science in International
Business and Politics and Intercultural
Communication, Ambassador Berit Basse has
always sought challenging assignments, starting
with her time in Senegal with the UNDP to her
prior role as Head of Department – Strategy,
Quality and Policy at the Ministry of Foreign
Affairs in Denmark.
The Ambassador shuffle also involves changes
elsewhere. Mikael Hemniti Winther, Ambassador
at the Royal Danish Embassy in Bangkok, is leaving
Bangkok for Dhaka, Bangladesh after 5 years
of service. New Ambassador in Bangkok this
summer is set to be Uffe Wolfhechel, former
Danish Ambassador in Kabul.
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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 licence. 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 #09-03, CapitaGreen
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March 2016 • ScandAsia.Singapore 7

News Brief
Headhunter is
better placed in
Copenhagen than
Singapore
After a number of years in Singapore,
Jan N. Lauridsen will now be located
to Copenhagen to improve maritime
business on the Scandinavian market.
Jan N. Lauridsen is responsible for the
American Heidrick & Struggles’ global maritime
executive search. To let the business grow, Heidrick
& Struggles relocates him to Copenhagen, which
now will take the position as Scandinavian
headquarter.
In Singapore Jan N. Lauridsen has been
responsible for building up the maritime business
to Heidrick & Struggles, but now his main tasks in
Copenhagen will be to find new employees for
the new offices in Copenhagen and Stockholm.
One of the reasons behind the relocation is
the European timezone, where “you can bite off
Singapore in the morning and the American East
Coast in the afternoon”. As a consequence of the
venture capital fund entering the shipping market,
United States has in general moved up the rank
prior to the shipping industry, which also regards
the list where headhunters spend their time.
“Singapore and Asia is still the operational
hubs of the world when it comes to maritime
businesses, but the managerial power exists in
Europe. Since private equity funds has invested in
shipping United States has been a bigger player,
therefore will a base in Copenhagen get me
closer to many of our great clients,” says Jan N.
Lauridsen.
In addition being Managing Partner
for Scandinavia will he continue to be head
of maritime headhunting on a global plan to
Heidrick & Struggles.
Sources: www.shippingwatch.dk
New Norwegian cooperation to promote
trade interests in Singapore
On 11 February Innovasjon Norge signed
a contract together with Eksportkreditt
Norge in Singapore. Together they will
cooperate to promote Norwegian trade interests.
Even if Norwegian holdings already export a
lot to Singapore, there is potential for additional
export according to Jarle Roth, managing director
in Eksportkreditt Norge.
“There is especially more potential regarding
maritime business and offshore-related trades.”
Innovasjon Norge already owns offices in
Singapore, and with the new partnership with
Eksportkreditt Norge they will work together on
local resources.
“Our cooperation will not limit us to a few
businesses, but will include all relevant export of
capital goods and services from Norway. Offers
regarding export financing are usually always a
competitive advantage for Norwegian exporters,”
says Jarle Roth.
The local agents will be given the responsibility
to follow up on both existing projects and new
opportunities. They have to follow up on potential
projects from early stages and provide relevant
market information.
“The local presence will indeed strengthen
our market analysis.”
Head of Innovasjon Norge, Anita Krohn
Traaseth, agrees.
Euromoney has awarded Nordea as the best
provider of private banking services in the
Nordic region and the Baltics for the eighth
year in a row.
Upon learning the news, Head of Nordea
International Private Banking in Singapore Kim
Osborg Nielsen reveals.
“We are honoured to be part of the best
private bank in the Nordics,” Kim Osborg Nielsen
says.
“The award from Euromoney offers us great
visibility and brings international recognition for
our services. From Singapore, throughout our
strategic markets in Asia, we want to offer the best
solutions to wealthy Nordic citizens. The award
reconfirms our commitments and achievements
in terms of developing and delivering private
banking services to the highest standards for our
clients who are internationally-based.’’
Nordea Private Banking ranks among the top
20 Private Banks in Europe. It is the largest in the
“Our common owner, Nærings- og
fiskeridepartementet (Trade- and fishing
Ministry) has challenged the national operators to
identify more fields worth cooperate in to benefit
Norwegian trade. The agreement between
Innovasjon Norge and Eksportkreditt Norge,
where we will share resources, knowledges and
expenses, will be an answer to the challenge,” says
Anita Krohn Traaseth.
In February 2015 the companies established
their first agreement on sharing resources in
foreign markets, that time it was in Rio de Janeiro
in Brasil. The local presence will now be boosted
even more with joint resources in Singapore, too.
Sources: www.innovasjonnorge.no
Nordea wins 2016 Euromoney award for
best private banking
Nordic region with EUR 90 billion in assets under
management and about 115,000 customers who
are served by 900 private bankers located at 80
branches.
In December 2015, Nordea was also named
“The Bank of the Year in Western Europe” by “The
Banker’’ magazine. This is the most prestigious
banking award in the world – conferred by ‘‘The
Financial Times’’ – and the winner is selected
among 500 participants, based on an evaluation
of a number of financial and business-related
factors in its country or region. To date, Nordea
Bank has received the award twice, in 2012 and
2015.
From Nordea’s International Private Banking
branch in Singapore, senior private bankers
with strong market knowledge and structuring
capabilities serve the growing community of
Nordic individuals in Asia, assisting clients in
several countries in the region.
About the Euromoney Award
The award from the international financial
magazine Euromoney is based on industry peer
assessments and votes from senior private
banking and wealth management staff.
About Nordea International Private Banking
Founded in 1976, Nordea’s International
Private Banking is centred in Luxembourg, with
branch offices in Switzerland and Singapore.
8 ScandAsia.Singapore • March 2016

March 2016 • ScandAsia.Singapore 9

10 ScandAsia.Singapore • March 2016

Great Dane is new President
to World Aquaculture
Society Asia
By Maria Andreasdottir
It is a big job to have responsibility to promote
educational, scientific and technological
development of aquaculture in Asia. Luckily,
the new elected President to The World
Aquaculture Society (WAS) Asia is a big
guy. Not to be confused with the dog breed, the
Grand Danois or “Great Dane” in this context is
French-born Guillaume Drillet. The 2-meter-tall
man from Danish Hydrological Institute (DHI) in
Singapore will begin his President duties in April
2016.
It is not only his height that is difficult to
miss – so are his competences. Guillaume had
no intention himself to run for President in the
beginning, but Past-President of WAS, Roy D.
Palmer personally asked him to go for it, because
of Guillaume Drillet’s great skills, and, according
to Guillaume himself, probably because of his
Danish mind-set.
“I have fun when I work. I have adapted the
way of combining humour and seriousness in
my work tasks. This is one of the many things I
adapted from living in Denmark.”
Guillaume left France in 2000 as part of an
MSc degree on Coastal Resource Management
at the University of Caen. He finished his training
period in the Danish city of studies, Roskilde, and
later he took a European Funded Ph.D. between
Roskilde University and Denmark’s Technical
University Aqua departement in Copenhagen. He
had become so fund of his new life in Scandinavia,
and had no intention to go back ‘home’.
“I have worked in many countries but I love
the Danish way of living, the humour and the
freedom of speech. Here is it okay to be frank
about everything. In Denmark I finally felt like
home.”
Home is where the heart is, and not only
did he fall in love with Denmark, but with the
woman of his dreams, too. He met her at Risø
(Aarhus University) where she was on a Marie
Curie fellowship, from Slovakia. They both would
love to live happily ever after in Copenhagen,
but due to job insecurities, they both decided to
move to Singapore in 2010 when Guillaume was
offered a job for the Danish company DHI Water
& Environment.
“It was not our first choice to leave Denmark,
but honestly this job feels like I was still located in
Denmark. The Danish atmosphere is here; we are
just placed on the other side of the world. One of
the characteristics I learned about Danes is their
ability to adapt quickly to something new. So, my
wife and I did the same here in Singapore. Now
this is home.”
Maybe it is his French genes, but Guillaume
is a very passionate man. Beside his work at DHI
he is still doing research, and in 2011 he received
one of the most prestigious Danish Awards for
his science work on copepods; The Sapere Aude
Young Elite Scientist Award by the Danish Agency
for Science and Innovation which comes with a
financial support of almost 2.8 million Danish
kroner. This work was carried out under the
DHI-NTU Research Centre, and Guillaume still
collaborate closely with Roskilde University. At
DHI, he is now acting as a head of section for
Ecological Processes and Aquaculture; a team
working with Ecological modelling, ballast water
and aquaculture. The work of this team has now
lead him to the honoured title of President of
WAS Asia Pacific Chapter.
“I am very grateful how our work is
appreciated, and I’m only glad to help sharing
ideas and promote education and sustainability in
the field of aquaculture in Asia.”
Being WAS President is a non-paid job,
but what the people in charge can do for the
aquaculture worldwide is priceless.
“The Aquaculture industry is the fastest
growing food industry in the entire world and
90% of it is taking place in Asia. It means we have
to do everything possible to improve sustainability
and maintain a healthy environment.”
He believes Asia can learn a lot from Denmark
in terms of sustainability and efficiency.
“Denmark is one of the global leaders when
it comes to aquaculture. One of the reasons
is that Danish producers have invested early
and implemented high quality equipment. The
developed Danish Technologies are probably
the best on the market. Unfortunately, Asia has a
tendency to choose price over quality, which not
always is the best solution in the long run and
when you want sustainability.”
To meet the expanding international nature
of the Society and to address specific needs
in various areas of the world, Presidents of
WAS are elected every third year. The next big
Asian conference will be held in April 2016 in
Surabaya, Indonesia, where Guillaume officially
will be announced elected President, a title he
has been chosen for among 200 other members.
Altogether there are more than 3000 members
in World Aquaculture Society in more than 100
countries, but the high number doesn’t scare the
tall man.
“I like to protect people. Maybe because of
my height,” he laughs.
Even if Guillaume has a full time job and is
deeply devoted to his science projects, he is a full
time husband and father, always finding time when
people ask for his help and advice. Being elected
as President for a large organization is a way of
recognizing his help.
“And that makes me even higher.”
March 2016 • ScandAsia.Singapore 11

Dreaming big
with Frontier
in Southeast Asia
Asia as growth market
and start-up scene
for Nordic companies
and entrepreneurs is
assisted by Finnish
fundraiser and
consulting firm
By Joakim Persson
In the Digital economy (or New economy),
where disruptive innovations, start-ups and
other service-oriented growth companies
are increasingly dominating business, Asia is
a market to be reckoned with, thanks partly
to a blossoming entrepreneurial ecosystem in
the region. Westerners, including of course many
from the Nordic countries, enter here directly
with their ideas, including as a first, international
target, where Singapore is positioning itself as a
hub and test market.
With a branch in Singapore Finnish-operated
Frontier is there to assist with start-up funding,
fundraising, and go-to-market consulting - focusing
on Nordic companies.
With road shows to Singapore in store
towards the spring, Chairman Mikko Silventola,
as spokesperson for a trio of Finns, portrays the
scene and Frontier’s services.
Singapore not to be missed
Frontier, its website presents, has since 2008
successfully helped over 100 Nordic companies
to enter and grow business in the Middle East and
Southeast Asia. Frontier has helped many new
Nordic ICT innovations to grow their markets
abroad like: CreateTrips, Capricode and Piceasoft.
Mikko Silventola describes himself as a
Finnish-born entrepreneur based in Singapore
(since 2.5 years), who previously founded media
publishing companies, sold them and moved to
private equity and also helping other companies
in going international. He moved to Singapore to
set up Frontier, after having previously been based
in Dubai to expand a media publishing company.
“The original story why I moved here is that
I read a book by Singapore-based expat investor
Jim Rogers. I thought that Singapore is next so I
moved my family here, and also for the reason
12 ScandAsia.Singapore • March 2016

that Singapore is the gateway to Southeast Asia.
Everything here is done by the book and with
high standards, and we feel that Singapore is the
best country in the world to do business. It may
not be the largest market but the surrounding
ones are amazingly huge, so it’s definitely a place
not to be missed,” says Mikko.
Frontier has a team of 15 people, including
in the Middle East, with the main management
team consisting also of board member Dr. Jari
Talvinen and the founder-CEO Timo Nurminen,
aside Mikko.
“Now it’s mostly about helping other
companies and investing into tech start-ups. Our
big focus is on tech companies, but we also have
more traditional cases and we’ve had clients
ranging from start-ups to public companies.”
“Our clients are Nordic companies expanding
to Southeast Asia and the Middle East, including
also those looking to raise funds here. We have
several clients from Norway, Sweden and Finland
and have done quite many cases. Most companies
are looking to grow or expand here, and some
are looking for investors or seed funding.”
“There are so many good Nordic companies
that see that their home market is not big enough
and if Asia is their priority market it’s quite
important to raise funds or find strategic investors
from here that also can help their business grow,”
explains Mikko and adds how important it is to
partner with players like Frontier for this.
“We’ve built up the local knowledge and
contacts, including partners in the surrounding
countries that we always use in order to be able
to raise funds and reach bigger deals.”
He describes the quality of start-ups coming
from Finland, Sweden and Norway as “pretty
good” and most of them are interested in coming
also to emerging markets such as Southeast Asia.
Asian start-up investors
The Finn also believes that the opportunities here
are increasing for local investment.
“The start-up movement is quite big also here
in Singapore and every day the newspapers write
about tech start-ups so everybody’s interested
in them, and there’s, for good or for bad, quite
a hype, leading more investment into start-ups.”
Significantly, for investment and innovations
coming here from the Nordic countries, the trend
is increasing to stake at such emerging markets
directly, rather than building up a business carefully
starting only locally.
“Today you just take Arlanda Express to the
airport and then you can jump on a plane to
Helsinki, or Singapore – where the surrounding
markets are a bit bigger, and also the amount of
capital that investors have is huge.”
Our clients are Nordic companies expanding to Southeast
Asia and the Middle East, including also those looking to
raise funds here. We have several clients from Norway,
Sweden and Finland and have done quite many cases. Most
companies are looking to grow or expand here, and some
are looking for investors or seed funding.
When it comes to market importance Asia’s
huge population makes it more important than
the western.
And the start-up scene he thinks is pretty
good and growing a lot, including good events
both in Singapore as well as in Jakarta, Indonesia.
‘The quality is getting better all the time.
Sooner or later we will see big start-ups and
big valuations coming from Singapore and other
parts of Southeast Asia, also,” he predicts.
Hong Kong’s emerging start-up scene, he
agrees, is also interesting.
“Hong Kong is the gateway to China, and yet
a bit more western. Maybe what differentiates
Hong Kong from Singapore is the short distance
to main land China.”
But he thinks that might bring some risks.
“As a founder of something I would set it
up in Singapore where everything is done by
International Financing Reporting standards. This
is the place to be.”
The Frontier chairman thinks Singapore is
doing its best in setting up a business- and start-up
friendly environment.
“And I feel that Singapore is led like a private
company rather than a country and that’s a really
good thing for the companies that are expanding
here but it’s also a really good thing for the citizens
because that’s how one should run a nation,” he
says and gives a hint to where his home country
should look for an example in order to improve
its governance.
When it comes to improvements needed
he comments: “I feel that Singapore still needs to
see the big billion dollar exits from here to create
more motivation for the entrepreneurs here but
of course lots of new innovations are coming this
way so you should just keep our eyes and ears
open, talk to each other and exchange ideas.”
No-nonsense service
Frontier’s service is described as ‘no-nonsense
market research reports but result-orientated
hands-on approach and focus on sales.’
“Basically we try to be the partner from seed
to exit, so we help our clients with the fundraising
and then with going international and also handson
sales development. Also, we have done quite
many start-up investments by ourselves.”
To mention a few client cases, Frontier helped
the crowdfunding platform Fundedbyme in setting
up shop and raising capital from local investors,
and Plantui smart garden in identifying Southeast
Asian venture capital. They assisted Create Trips
to close deals with many huge players in the travel
industry in this region.
“Also we have several public companies using
our service in expanding to Southeast Asia. We
don’t always need or even want equity, but we
always charge a retainer and a commission on the
raised funds or provided services.”
“In the beginning we look at the team, which
is the most important thing; the product comes
second. And possibly there’s a patent and global
potential that would strengthen our interest in
investing. In many cases, we really enter in the
early stage, so we are the advisers in the company,
we raise the seed funding for them and then we
help to do the Series A [first round of funding]
and the following runs on that, as well as all the
March 2016 • ScandAsia.Singapore 13

documents and action points when it comes to
the exit.”
Finnish games
The Finnish mobile game start-up Koukoi Games
is such a client, where Frontier as a partner
assisted the first funding round with a yield of
$1 million.
“We started helping them even before they
had formed a company, as we really liked their
team; they were a bunch of young, energetic and
talented guys and girls, who used to work for
bigger gaming companies and wanted to start
something on their own. Currently we are talking
to many Asian investors, for the Series A round
with this company.”
“Also we’re talking with many game
publishers and Asian partners who are looking
for companies like Koukoi games in these markets
– China in particular.”
“In the gaming industry you need lots of
capital also for marketing, it doesn’t make you
successful if you just publish the game,” he adds.
Their first gaming title called Crashing Season
will be launched worldwide in the spring.
“It’s going to be an awesome game,” promises
Mikko.
14 ScandAsia.Singapore • March 2016
Asian markets for foreign mobile game
companies are difficult to conquer, but together
with Frontier Koukoi will be able to overcome
this.
“Asia and China are amazingly huge market
and should be a top priority market for any gaming
development company or game publisher.”
This new start-up can also ride on the wave
of other, successful gaming companies.
“Of course’s Rovio and Supercell are
amazingly successful companies coming out from
Finland. These examples are motivating so many
entrepreneurs - not just specifically in the gaming
sector but also in other fields - to dream big and
try to achieve big goals. It’s really good for the
Nordic start-up culture. And also those billiondollar
companies function as excellent motivation
for Asian entrepreneurs to dream big.”
Start with an app
In other sectors large amounts are not necessarily
needed, including for disruptive technologies.
“In the beginning you can just develop an
app and start. It’s quite efficient and doesn’t
require that much capital. There are many other
important things in the beginning when it comes
to the team and their motivation.”
Case in point, Mikko has invested in a
Singaporean company called Sendhelper
delivering cooks and maids for households: “They
were growing quite fast without much capital and
of course once you get the cash injection it gets
you further much faster – but it’s not necessarily
in the beginning that you get millions.”
Looking ahead, Frontier is launching three
projects in the spring when it comes to helping
out more on the go-to market side: within
Cleantech, ICT and Education.
“These are or more like sales meeting trips
for Nordic companies, where we only include
ten companies into each programme. We will
carefully investigate, based on the participating
companies, who are the likely investors within
each sector and look for those kinds of services
and start dialogues, so that once the companies
arrive here they have good opportunities to sign
deals.
“For Cleantech Singapore 2016 we are
collaborating with Sustainable Energy Association
of Singapore. The reason for this project is that
the Singapore government is currently investing
3 billion SGD this year on this sector, so it’s really
relevant.”

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March 2016 • ScandAsia.Singapore 15

Swedes in Thailand are bat
Text and photos: Frederik Guy Hoff Sonne
Many Swedes living in Thailand
have a hard time getting a proper
health insurance. Cases and
stories a different, but common
is that they either deselect
insurance or face unmanageable insurance costs
as they’re nearing retirement. Now they want
the Swedish Government to look into their case.
Swedish laws demand that one needs to be
a resident in Sweden and moreover stay in the
country for more than 6 months a year in order
to receive national health insurance. For some
Swedes this is not suitable for their health, while
others think this is unfair, as they pay Swedish
pension taxes.
Meet Åke Andersson, 75-year old retiree
living in Thailand since years. Åke Andersson
suffers from rheumatism for 25 years. In Sweden
he was taking medication to battle the illness but
now living in Thailand the climate helps him. He
doesn’t take medication anymore. This means
he has to be in Thailand all year around, which
prevents getting support from the​Swedish
national health insurance, even though he pays
20 % tax over his pension.
When Åke Andersson was diagnosed
with his disease more than 20 years ago, the
government allowed him to reside in Spain and
still get covered by the state insurance - until the
16 ScandAsia.Singapore • March 2016
joint European Union’s health care agreement
was adopted that is. But now when he’s retired
and resides in Thailand the government won’t
cover him.
Another case is Åke Viktorsson, a 72-yearold
expat living in Thailand since six years, while
also paying tax on his pension to Sweden. Åke
Viktorsson is healthy and made the choice to live
in Thailand for personal reasons.
“I’ve been working outside of Sweden most
of my career and didn’t pay taxes. Back then it
wasn’t a problem that I was not covered by the
Swedish state. But now I pay my taxes and then it
would only be fair if I was covered by the national
health insurance”, he states.
Åke Viktorsson has the right to treatment
when visiting Sweden, but he may have to pay
himself. There are no guarantees as it depends on
circumstances and the specific case. Emergencies
are fully covered, but according to him, the
problem is he doesn’t know if or when this could
occur.
So when moving to Thailand with his wife and
son, Åke Viktorsson was investigating for private
insurances, but they were simply not worth it. It
would cost 350.000 baht a year to cover his family.
So he took the risk.
“Avoiding illness would save my family
350.000 baht each year. We have been lucky
enough to avoid this and now have a couple of
millions baht to get sick for”, he says, adding: “It’s a
risky game, but it is more economical than to pay
for a private insurance each year”.
Private insurances are pricey when nearing
retirement age and they often don’t cover former
illnesses.
“When you’re in your seventies your medical
record is pretty long, so these private insurances
covers almost nothing of importance”, Åke
Viktorsson assess.
The Norwegian scheme
A group of Swedish expats resided in Phuket
are now taking action. They are united in the
community Skandinaver på Phuket (SpP) and
want to be accepted on the national health
insurance - as they pay taxes - without having
to spend half the year in Sweden. Bo Jonsson,
81-year old Swedish living in Phuket because “it
is cheaper and the climate is better”, leads this
initiative.
The group doesn’t understand why Swedish
pensioners can live outside of Sweden in the
European Union and still get covered by the
national health insurance , ​while the same Swede
living in Thailand paying the same tax, cannot.
As an alternative they propose an international
state insurance, where they could pay “a little

extra” on the tax bill for administration and then
get covered for health issues in Thailand. Norway
has such a system.
“I’ve done a comparison with the Norwegian
scheme. If Sweden adopt this model, it would
only cost the ​retired taxpayer in Thailand 375
SEK for a Swede with a state pension on 17.500
SEK a month and 187 SEK for a state pension on
10.000 SEK a month. And we’re more than eager
to pay that in extra taxes”, Bo Jonsson, retired
economist explains.
This is 2500 SEK a year on a state pension
with 10.000 SEK and 4500 SEK a year, if your
state pension is 17.500 a month. “So this is much
cheaper, than a private insurance”, Bo Jonsson
concludes. However in the Norwegian scheme,
one has to have spend 3 of the last 5 years
in Norway. SpP wants to avoid that limitation,
since it could exclude those who e.g. may have
worked many consecutive years abroad, like Åke
Viktorsson and Bo Jonsson.
Sweden has special health care agreements
with Australia, Israel and Algeria. Surprisingly to
Bo Jonsson as he states “they have lesser Swedish
expats, than in Thailand”.
Bo Jonsson proposes that Sweden should
expand these agreements to be global: “The
matter is to adjust to the fact that people more
and more live in other countries than their native
one, also outside of EU”.
I’ve been working outside of
Sweden most of my career
and didn’t pay taxes. Back
then it wasn’t a problem that
I was not covered by the
Swedish state. But now I pay
my taxes and then it would
only be fair if I was covered
by the national health
insurance.
Couldn’t people take undue advantage
of an international agreement
as costs are different around the
world?
“It depends on how the agreement is done. It
should be negotiable, so Sweden supports a fixed
amount for certain issues regardless of where
you live. In Thailand this would be very cheap
for Sweden but in New York of course it would
be expensive, so there the care might not cover
fully”, Åke Viktorsson suggests.
Why is it not just a possibility for you
to stay in Sweden half the year?
​”Me and my wife, in wheelchair, are here because
of a better climate and I could not have the
help in Europe I can have here and cover costs
with our pensions, my wife’s is a minimum one
from Italy. We are healthy, apart from that. In
reality I could not afford travelling twice a year
to Sweden and rent another apartment and pay
for the service there, only to eventually get the
health care we might need”, Bo Jonsson answers
and adds: “I would still not be covered here in
Thailand. That is what we are asking for; to be
covered during the time here, i.e. if you live longer
time and not as a tourist, but when having e.g. a
visa for a whole year working or being a retiree”.
And what should be the Swedish
state’s’ interests in such an agreement?
tling for health insurance
Åke Viktorsson lives in Phuket with his wife and son
March 2016 • ScandAsia.Singapore 17

Bo Jonsson, retired Swede living in Phuket, is the head organizer behind SpP’s proposal for the Swedish Government
“Fair and equal treatment of citizens is a sine
qua non [indispensable and essential action]
for politicians, discrimination between people
concerning matters of rights is not feasible. Even
Swedes living abroad have the right to have
health care in Sweden, to me it is a matter of
practical implementation of such health care
rights. Furthermore, it is more efficient to receive
it where you actually live and in the case of
Thailand, also far cheaper and available faster
than in Sweden. If Sweden has an agreement with
Australia, the state must already have identified
the advantages for its citizens”, Bo Jonsson says.
Taking action
Bo Jonsson has done a report on the insurance
situation for 24 of SpP’s 240 members backing
their proposal. The survey is not statistically
validated, but Bo Jonsson states: “the cases are
validated”.
At the Tsunami ceremony 27th December
2014 in Khao Lak Bo Jonsson and other
representative​s from SpP were asked to ​present
a​report to Åsa Regnér, Minister ​in Sweden ​
for Children, the Elderly and Equality, and she
told them that “we have started to think of the
matter”. When getting the report ​she ​answered
she ​would take the report with her to her
colleagues in the Social department​. Since then
it has been ​waiting​.​
“Later correspondence has only concerned
18 ScandAsia.Singapore • March 2016
I’ve been working outside of
Sweden most of my career
and didn’t pay taxes. Back
then it wasn’t a problem that
I was not covered by the
Swedish state. But now I pay
my taxes and then it would
only be fair if I was covered
by the national health
insurance.
the general approach by the government to
others who are not well off economically, and
socially. and concerning that people in general
question all the generosity to refugees or so called
refugees until they are refused asylum,while for
certain others, such as citizens living abroad there
is no such funding. We are glad to have learned in
the answer from the minister: ‘I am reading what
you say and thinking of how to handle it’”, Bo
Jonsson reports​.
Now Bo Jonsson and SpP has taken action in
co-operation with Svenskföreningen i Hua Hin.
They just posted a letter to the Government
concerning their proposal. They got the advice
to send it to Gabriel Wikström, the Minister for
Health Care​.
​The letter ask​s​for a government study, a so
called elucidation for a purposeful ​action.
“We expect that the government now has
enough control over the issue of caring for ​the
real ​asylum seekers and can include our issue ​as
one of its many other actions to reach people
that need the support of the state”, Bo Jonsson
ends.Swedes in Thailand are battling for health
insurance

ScandAsia (192x135mm)FEB.indd 1
15/2/16 8:52 AM
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March 2016 • ScandAsia.Singapore 19