INTdirector Issue 79 | AUTUMN 2016 companydirectors.com.au

INSIDE 2 International Manager's corner 3 Casting a wider net over China’s total debt (continued from page 1) 4 Diversity – broader than you think 5 International director profile: Trent Hagland 6 International long standing member profile: Diana Fox 7 Taking Margaret River wines to the world 8 Event summaries 10 Welcome new members 11 Longstanding members Casting a wider net 11 Congratulating international graduates over China’s total debt 12 2016 Diary Dates

assets, but excludes newer developments such as P2P lending (due to a lack of suitable Gerard Burg data). Broad measures increase the likelihood Senior Economist of double counting – some observers argue National Australia Bank that WMPs are a funding source for shadow One of the key concerns for China’s economy banking, rather than a component of the in 2016 is its debt. Debt levels have risen sector, therefore we’ve excluded it from our sharply since the Global Financial Crisis, broader debt calculation. Our estimate of particularly outside the traditional banking shadow banking (excluding WMPs) stood at system – where the scale of borrowings is around 95% of GDP in December 2015. International Division, frequently under-estimated. We’ve dug deeper Compared with high levels in other PO Box Z5333, St Georges Terrace, Perth WA 6831 into the China’s debt, to provide a little more countries, China’s government debt is t: +61 8 9320 1700 f: +61 8 9320 1722 transparency around a very opaque picture. relatively modest at 39% of GDP in December e: [email protected] 2015. However, this may not paint a complete Editor: Pauline Nguyen Newsletter written by: International It’s impossible to put a firm figure on China’s Division. For more information or to submit content, contact us. total debt levels – at best we can produce picture of government debt, with local Disclaimer: The opinions expressed in INT Director do not necessarily represent the views of the Australian Institute of an estimate with a series of caveats – which government bonds comprising just over 7% Company Directors nor the publication. While every effort has reflect the importance (and opacity) of non- of GDP in this measure. The National Audit been made to ensure accuracy, no responsibility can be accepted by the publisher for omissions, typographical or traditional financing in China’s economy over Office reported that local government debt in printer’s errors, inaccuracies or changes that may have taken the past few years. Estimates of the scale China was around 31% of GDP in mid-2013 place after the publication. All rights reserved. of shadow banking vary widely, with a lack (the most recent available data), comprising a of consensus among observers as to what mix of bank loans, bonds, shadow finance and WE ARE PLEASED TO ACKNOWLEDGE NATIONAL should be included in this measure. We favour other sources. Some of these elements may be AUSTRALIA BANK AS OUR MAJOR EVENT SPONSOR a broad measure, based on research by the captured within traditional banking measures, Institute for International Monetary Affairs, but it is impossible to be sure, highlighting the that includes wealth management products uncertainty around overall debt estimates. (WMPs) and trust investment in financial continued on page 3

International Division, PO Box Z5333, St Georges Terrace, Perth WA 6831 t:+61 8 9320 1700 f:+61 8 9320 1722 e:[email protected]

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INTERNATIONAL MANAGER’S Responsibilities. CORNER Liabilities. Risk.

You can't afford to lose them in translation Further your director career, better address risk, enhance Suzanne Ardagh MAICD International Division Manager board strategy, and improve your organisations performance.

International Company Welcome to our Autumn Newsletter. Directors Course As you cast your eyes over page 10 in this quarterly newsletter 6 to 10 June 2016, you’ll be interested to see the very long list of new members this Sydney month which reflects our very diverse membership base. 5 to 9 September 2016, As the fastest growing division, I’m pleased to say that our Membership Relations Team, headed up by Stuart Munro has done a fantastic job over the past year – reaching his full year budget in 14 to 18 November 2016, March 2016. We are pleased to welcome new members from many countries including Nigeria, Qatar, the Dominion Republic, Russia and Sweden. Another one of our members has recently moved to Enrol now the Federated States of Micronesia. This tiny collection of islands w: companydirectors.com.au/ICDC is located near Guam, so you can see that the Australian Institute of Company Directors (AICD) is spread far and wide. Singapore Committee We are constantly talking to members and giving them information about how they can collect their DPD points – so Neil Parekh mAICD Tay Woon Teck mAICD we have included a section just to remind and help our members National Australia Bank RSM Ethos Pte Ltd make sure they are up to date on their points. Penny Burtt mAICD Nicki Kenyon mAICD Visa Worldwide Pte Limited Visa Inc. Our International team, based in Perth, is always looking for Christopher Chong FAICD Carolyn Chin-Parry MAICD interesting stories and content to share, so if you have a desire to ACH Investments SMS Management & Technology contribute to our newsletter and have something interesting to share with your fellow international members, please think about writing an article. Up to 800 words is welcome and you can earn Hong Kong Committee five DPD points as well – so that’s worth the effort! Garry Willinge FAICD Angelina Kwan MAICD Cbridge Limited (Hong Kong) Hong Kong Exchanges Some other news to share from the International Division, which and Clearing Limited is “hot off the press”. We were delighted to sign an MOU with the Pru Bennett MAICD BlackRock Kym Fortescue GAICD Malaysian Academy of Directors in Kuala Lumpur on 17 May 2016. AIA GROUP Kathryn Dioth GAICD Known as MINDA, the organisation has relaunched and now The Hinrich Foundation Fiona Nott GAICD Aesop Ltd (Hong Kong) is a full service organisation for Directors. We’ve formalised a Simone Wheeler GAICD very collaborative relationship with this organisation which, was CLSA John Spence FAICD Asian Capital Advisors established in 2006, initially to provide training and professional Simon Clarke MAICD development to GLCs (government companies in ), but Allen & Overy Andrew Tsui MAICD Korn Ferry who now have opened their door to private sector. As part of the Andrew MacIntosh GAICD MOU, AICD will host a delegation of Malaysian directors who Hanhong Private Equity (Hong Kong) will come to Perth in August this year to complete one of our international programs. We are very pleased with this first MOU International contacts and hope that there will be more to come! Some photos from the event will be included in the next International newsletter. Suzanne Ardagh maicd Rachel Hogan International Division Manager International Bye for now. t: +61 8 9320 1700 Program Executive e: [email protected] t: +61 8 9320 1718 Suzanne e: [email protected] Stuart Munro International Member Relations Pauline Nguyen Executive International Team Coordinator t: +61 8 9320 1709 t: +61 8 9320 1716 e: [email protected] e: [email protected]

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Casting a wider net over China’s total debt continued from page 1

Combining bank loans, shadow a lack of credit worthiness, wider estimate of total credit – In this regard, the announced banking, government bonds and rather than financial prudence. with debt growing over three employment cuts across a range corporate bonds provides us with An assessment of the quality of times the rate of nominal GDP of heavy industries may show a a wider estimate of China’s total debt depends on the use of the in December 2015 (approaching greater appetite for SOE reform debt – which stood at 308% of funding and the ability of the the emergency levels seen than previously. GDP in December 2015. Given borrower to service the debt. At during the GFC). Chinese policy makers are the exclusion of WMPs and an aggregate level, this can be There is little doubt that credit facing a significant dilemma newer products such as P2P approximated by comparing the has been used less efficiently regarding the country’s debt. loans, this estimate may err on ratio of nominal credit growth since the GFC. The infrastructure They can no longer afford to the conservative side. to nominal GDP growth. While investment boom used to ward allow debt to grow unchecked For some time it has been there are typically significant off the crisis led to wasteful – as this would increase the argued that the scale of China’s lags between investment and projects – with examples of likelihood of a major financial debt was less concerning that returns, similar rates of growth under-utilised high-speed rail and crisis and the potential for a hard the rate of its growth, but this for credit and GDP (or a credit airports – however more recently landing. On the other side, real position now appears more intensity close to one) tends to concerns likely lie in the business economic growth is unlikely to difficult to argue – with our indicate effective use of debt sector. Some lending to large be sustainable at the new five estimate of China’s debt above – as was the case between mid- SOEs is used to roll over existing year plan target (6.5%) without the average level of advanced 2004 and late 2008. debts, or continue funding growth in debt – bringing down economies (according to the Bank From late 2011, this ratio has uneconomic operation. This the ratio would mean tolerating a for International Settlements) – a deteriorated – with economic lending fails to add meaningfully considerably lower potential rate highly unusual outcome for a still growth starting a sustained to GDP, as well as crowds out for economic growth (something developing economy. slowdown, while credit growth other potential borrowers – that policy makers are unlikely Debt – in of itself – is neither picked up across 2012 and 2013 usually private sector firms, to tolerate). a good or bad thing – indeed (with shadow banking driving who are either unable to access low household debt in countries the increase). The deterioration finance or seek higher cost funds For more information, contact like India and Argentina reflect is far more significant using our from the shadow banking sector. Gerard Burg on +613 8634 2788

DPD: simple as one, two, three!

Whether you are a new member this count as DPD and when will Your self-logged activity should or have been with us for some I see these units appear?” now appear on the updated time, you will understand “I attended a seminar through 'My Director Professional the importance of keeping my employer, will this count Development units' page. per year so if you haven’t yet your Director Professional towards my DPD?” Accruing units accumulated enough units, don’t Development (DPD) up to date You will need to record any “I’m in the first year of the panic – remember, attending the and it may surprise you to know professional reading, LinkedIn complimentary Essential Director how simple this can be. DPD and don’t think I’m going to activity and/or other provide Update each year (including via As mentioned in the latest accrue enough units this year, will activity units manually, by: webinar recording) gives you 10 Company Director magazine, my membership be cancelled?” 1. Sign-in to the members area DPD units, you’re half way there! there are a variety of ways to “I’m going to be travelling of the website and select the accrue units, many of which away a lot this year, is it worth Useful resources 'My Director Professional require no cost. To assist, we retaining my membership if I The website, directors self- Development units' link to see answer some of your most can’t attend local events and gain assessment tool and professional your current DPD status. frequently asked questions: enough DPD units?” development handbook are all 2. Select the 'Add activity' box “I’ve done plenty of professional helpful resources available to Recording units towards the bottom right of development in my time and don’t assist you plan your professional “I read the Company Director the 'My Director Professional really need to network, what other development and your Member magazine every month – how do Development units' page. ways can obtain DPD units?” Relations Executives are only a these units get added?” 3. Complete the fields on the phone call away. “I enjoy reading some of the 'Add DPD activity' page. Members are required to discussions on the Australian When complete, click the accrue a total of 60 units over a For any questions on DPD, Institute of Company Directors 'Save activity' box towards three year rolling period, this please call Stuart Munro member group on LinkedIn, does the bottom right of the screen. equates to an average of 20 units t: 08 9320 1700

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Diversity – broader than you think

much more than that. wrong, directors are deemed to on the business and the impact True diversity is about know so much more than they it should have. Cyber risk is involving people who represent used to. Diversity is a great way an obvious one here. But what a genuine cross-section of age, to help insulate a Board from about making sure strategic experience, background, skills, potentially nasty (personal and decisions and risk assessments experience and, where suitable, corporate) liability surprises by are taken whilst ensuring Darren Harrison GAICD race and culture. ensuring that everyone has the the business maximizes its Managing Consultant Old Street Consulting For example, a Singapore- correct information. technological advantage Member since 2015 based business which focuses on For example, a lack of diversity (including tasking internal just the local market will have is commonly found on Boards committees with appropriate The first time I discussed with different diversity requirements which are described by others as terms of reference)? someone – a Board member – to the Singapore-headquartered “having too much grey hair”, or It was concerning to me, as I about the role of non-executive multinational that operates in where there is a lack of director sat in a directors’ briefing a few directors in Singapore, I was a variety of diverse countries tenure. In these situations, weeks ago, how unprepared told that a non-executive’s and industries (there’s that word incumbent directors often have many of the 80-plus people in role was mainly about just two ‘diverse’ again). little propensity for change. the room were for technology things, ensuring transparency Unfortunately, efforts to build At the end of the day, every and all it can bring (both benefits and dealing with related party diversity on Boards is often met Board member is responsible and risk). A senior director transactions (meaning, conflict with “what’s the point?”, “it’s for their decisions – even there said, “This technology of interest). too hard”, or “we’ve been doing on matters on which they thing, we haven’t really looked I was somewhat surprised to things like this for years and we have little or no expertise. at it as a Board, but maybe we hear this, especially given the are successful, so why change a A diversified Board will help will one day”. Diversity on his numerous efforts being made winning team?”. significantly mitigate the risk Board would have ensured a by the Singapore authorities The short answer to the last of bad decisions by ensuring far different – and far better – in relation to the role of non- question – like any sportsperson that at least one Board member response from him. executive and, in particular, would tell you – is that no can keep all the others apprised As we all know, the culture of independent directors. However, matter how many victories you of relevant matters based on a company stems from its Board. it is not the only time I have have, the next loss could be just their expertise – finance, law, The approach to diversity is no heard this and so I suppose there around the corner. Diversity industry, sales, marketing, different. After all, a diverse is still some work to do in terms on Boards gives you the best operations and so on. Board will often lead to more of getting all non-executive chance of not suffering – or at Which brings me to one informed decisions and, flowing directors to take a more active least, significantly minimizing – aspect of diversity which from this, a diverse workforce and engaged role on Boards. that loss. even progressive Boards still will give that company its best The Code of Corporate So why all the fuss? Isn’t overlook…an understanding of chance to stay at the cutting Governance has taken a stand in diversity just the latest buzz technology, the impact it has edge of its success. terms of how many independent word which will pass in time? directors should be on a board Well, no. – being one-third of the Board, The business world continues or one-half where the Chairman to become ever more challenging and CEO are the same person or – increased competition, directly related, or the Chairman technology advances, greater is part of management or not regulation and so on – and no independent. Board, anywhere, constructed This is fine, but there is a of similar-thinking individuals practical issue which seems to who have been together for still be posing difficult questions years and years, could possibly across the Boards of companies cover everything they need to everywhere – the presence of to keep the business growing diversity (or, often, the lack of it). and compliant. When they first think of Just as challenging is the way diversity, most people think ‘equal in which the duties of care and opportunity’ and an insufficient good faith have been built upon number of women on Boards. True by authorities by increasing that this remains a challenging the burden of knowledge on all issue which many companies are directors. When considering grappling with, but diversity is so their liability if something goes

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International director profile

Give us some background on you me to develop the skills strategic project that will take and your career to date. necessary to attain my current time – once again an important I grew up in country Victoria role. Asia is very diverse part of career planning. (Bendigo) before moving to culturally and also in terms of Brisbane with my family as a financial market sophistication. Which governance or Board high school student. My first My knowledge of product across issues are currently ‘keeping you employer following University different markets was therefore awake at night? graduation was Metway Bank well suited to this appointment. (now Suncorp Bank) where I Without doubt, the dynamic initially worked as a bank teller and inconsistent regulatory Can you share some highlights or and then in the Bank’s Treasury environment across Asia. Our tell us about the most rewarding Settlements department. I am commercial banking arm is one part of your career so far? TRENT very proud of this grass-roots of the largest lenders in Asia and HAGLAND GAICD background in the finance Working in New York as a hence we must keep abreast of industry because I believe Credit Trader under difficult the regulatory requirements in Member since 2012 it enabled me to develop a conditions (over the 9-11 many locations. Understanding fundamental understanding of attacks, and then through the what we can and cannot do in CURRENT DIRECTORSHIPS: how transaction flows impact infamous Accounting Scandal each country is a challenge given • Mitsubishi UFJ Securities the broader markets. period) in the early 2000s was the breadth of our operations. hugely challenging, but at the Strategic decisions regarding HK Following some additional study, same time very rewarding. That business expansion therefore I secured a role with Queensland • Mitsubishi UFJ Securities rarified environment made me require very detailed analyses Treasury Corporation as a Singapore much stronger as an individual. and careful long term planning. Portfolio Manager. • Asian Securities Industry and Financial Markets My desire to work offshore saw Association (ASIFMA) me then move to work with What is the best piece of advice What do you think are the three Merrill Lynch in Sydney as a you have received over the years things that Directors must bring Bond Trader, before moving to and from whom? to their roles? New York, and later London, In the mid-90s, I interviewed 1. An acknowledgement that with the firm. with a well-respected firm in they will not always be the Brisbane as a stockbroker. The subject-matter experts. Making After spending 12 years with senior interviewer told me I the right appointments, and Merrill, I joined Mitsubishi UFJ should be pursuing a career having confidence and trust Securities in London in 2009, in the fixed income markets in the C-Suite executives, before relocating to Hong Kong instead. For him to actually take is therefore of paramount in 2012 in my current role as the time to see me and discuss importance. Chief Executive Officer and Head my career direction made a real of Asia, where I also serve on the 2. A strong disposition toward impression, and I am grateful to Board of Directors. engagement and an equal this day. It also says something amount of preparedness. By about the impact senior leaders/ being so, a Director will be well How did you end up in your mentors can have on a young positioned to add the value current role? person’s career. desired. Over the past 18 years, I have 3. An analytical mind. This goes been at two firms and sought to What advice would you give hand-in-hand with the desire establish a well-defined career to others contemplating an to continue to develop your path in both. overseas move? individual skill-set. Through Career planning is a critically It is immensely rewarding and continuous learning, your important part of success. I you should pursue it whilst you analytical capabilities will always have vision as to where I are able. remain sharp and be a great will be in years to come. It is, for the most part, not easy asset to the entity. My experience across sectors to secure an offshore role. You (retail banking, portfolio need to find a way to make it management, investment happen as it will usually not be banking) and regions, allowed gifted. You should view it as a

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International long standing member profile

Tell us about your role? volume of paperwork required by tends to be the case in Australia What took you overseas in the bureaucracy. And of course they and people are less open to first place? understand me even less than in giving their opinion so you need I am Regional CFO for a global Singapore. to make the effort to really travel management company. understand what people are I’m responsible for the financial thinking. The list is endless. What personal attributes management and control of our are needed of international Personally it can be quite lonely Asian businesses, currently in Directors or Executives? Singapore, Malaysia, , until you establish your network Hong Kong, China, Thailand, Patience definitely and respect so use any contact you can find and Vietnam. I also for other cultures. I see too many to meet people. If you have a get involved in setting up new Westerners who think they are cousin who has a friend who lives DIANA FOX businesses in the region. somehow superior to the locals in your new country, meet them and believe that their way is the for a drink – they will be more GAICD I originally moved overseas best way. than happy to do that. Once you sixteen years ago because I Member since 2006 have made a couple of friends wanted to expand my horizons the rest is easy. Everyone is more CURRENT DIRECTORSHIPS: beyond Australia, both Can you share some highlights or personally and professionally. tell us about the most rewarding social than at home, probably • ATPI (Singapore) Pte Ltd part of your international career? because they don’t have too many family ties and they have I like change and tend to get • ATPI Travel (Malaysia) How did you end up in your bored with the status quo so my more personal time because Sdn Bhd current role? highlights are when I’ve done generally they have more home I had come to Singapore with something new and different. help. a different company and when In previous roles, I’ve set up that ended I wasn’t personally a regional service centre and When you are not ‘at work’ ready to return home so I looked started businesses in new what keeps you busy? for a new job the usual way, countries. landing this job from an internet I like to keep physically active ad. The company I originally In my current company – I run, cycle and compete in I’ve enjoyed setting up our joined has since been taken over triathlons. I also love to travel companies in Indonesia and and I was fortunate enough to and do it as much as possible. Malaysia. The regulations in be kept on in the same role in Singapore is so central that it’s the expanded business. those countries did not allow really nothing to go anywhere in us to set up a company as you Asia for a weekend and Europe would in Australia so we had What are some of the challenges to come up with alternatives is not much further than, say, for Directors/Executives in your to allow us to be properly Sydney to Singapore. country? licensed. My main focus last In Singapore the only challenge year was integration of the Which governance or Board I find is when people can’t businesses post-acquisition and issues are currently ‘keeping you understand my Aussie achievement of synergies. awake at night? accent and are too polite to say anything! Otherwise, The one thing that is always at infrastructure is great, the What advice would you give the back of my mind in this part regulatory environment is to others contemplating an of the world is a government transparent and it is a really easy overseas move? changing the rules which would place to do business. Be prepared for everything to affect our viability as a business. be different both at home and As an example, in a previous The same cannot be said for the at work. other countries I deal with where company I was with we were in my biggest challenge is the At work, go with the flow and expansion mode and in constant highly regulated and protected accept that for example, working need of funding from the parent, industry in, which we operate. hours are quite different, the and a change in exchange I also have faced issues with lunch hour is strictly adhered controls meant that we had local authorities who expect to to, religious practices are more difficulty getting funds into the be “incentivised” and the sheer overt and conservative than country to meet the payroll.

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Taking Margaret River wines to the world

As part of a global wine community, Voyager Estate is proud of the role we play in bringing the exceptional wines of Margaret River to the world. Margaret River is one of the most isolated and pristine wine regions on earth, the beautiful Mediterranean climate and cooling maritime breezes from the surrounding oceans, truly creating a wine paradise. Unfortunately not everyone is able to visit our spectacular region in person, so what better aim than to share our wines and sense of place with those from that could have been custom- producing regions in the world, we live in elicits some great other parts of the globe. designed to carefully nourish we often find ourselves in responses, for some the distance Whether it is a winemaker our vines. Our ultimate ambition unexpected places. And, as we is almost inconceivable and for dinner in Shanghai, a consumer couldn’t be simpler, to craft wines expand our footprint across Asia, others, to even contemplate tasting in Hong Kong, staff that do justice to our place, seeing our wines in smaller and how to get there is beyond their training in New York City, or a wines of elegance and precision, more remote cities, such as for imagination. All the more reason trade show in Dusseldorf, the applying both the science and example, Shenyang in mainland for us to visit them – sharing an one thing we are sure of is that the art of winemaking with equal China is both very rewarding experience of our place through our wines could be from no other passion and always listening to and sometimes quite surprising. the joy of tasting beautiful wine. place, wines that are uniquely what our soils, grapes and vines Shenyang, by the way, is a small Apart from meeting many who Voyager Estate and distinctly are telling us. city of only 11 million people (!) have never been to visit us, one Margaret River. As we share the stories of in the north east of China and just of the surprising things we find is What do we mean by this? the history and the people who at the start of a relationship with just how many people have! It is Our place has gifted us an contribute to making Margaret premium wine from Australia. great to hear their personal stories extraordinary climate and soils River one of the greatest wine Describing the remote location of the adventures they have had exploring our region and our wines, confirming that whilst we may inhabit different countries, the world is actually quite small. In partnering with the AICD in their events across the globe, we can share our wines with those who may have never considered wines from Margaret River, those who have fond memories of their visit there, or those who may simply long for a taste of home when living in far away places. Because that’s what wine is really about, a chance to create special memories, shared with colleagues, friends and family.

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CEO Roadshow in Asia: Australia Day Member Cocktail Party

26 to 28 January 2016 Singapore, Hong Kong and Shanghai

At the beginning of the year, to celebrate Australia Day and the upcoming Chinese New Year, Managing Director & CEO John Brogden and the international Australia's Consul General Graham Meehan, Carolyn Chin-Parry MAICD, Rebecca Norton, team travelled to Singapore, Suzanne Ardagh MAICD and Paul Marsden GAICD Chris Norton and Mark Albas Hong Kong and Shanghai to host cocktail parties for AICD members and guests. We were delighted to be joined by the Australian Minister for Trade, the Hon Andrew Robb AO MP, in Singapore, Consul General Paul Tighe in Hong Kong and Consul Garry Willinge FAICD, Fiona Nott GAICD Judith Fergin, Suzanne Ardagh MAICD General Graeme Meehan in and Geraldine Johns- Putra MAICD and Christine Sharp GAICD Shanghai. It was an outstanding roadshow, bringing together many international directors and executives from around the world and their guests. Based on the success of the event, we hope to replicate it next year. Special thanks to our event Danny Armstrong GAICD, Jianzhong Lu partner in Hong Kong Advance Dong Wang MAICD and Michael Clifton and John Brogden FAICD and sponsors National Australia Bank, KPMG and Voyager Estate for their ongoing support.

John Brogden FAICD and His Excellency Phillip Green Neil Parekh MAICD and Minister Andrew Robb AO MP

Member Lunch with Graham Bradley am faicd

17 February 2016 enterprise value creation). He also Hong Kong outlined a range of contemporary challenges for directors One of the most prominent including complexity of the international company directors global marketplace, stakeholder Graham Bradley spoke at the Hong expectations, accessibility of Kong member luncheon hosted institutional shareholders to the by King and Wood Mallesons board, the internet and social at their landmark premises. media, explosion of information The theme of the address was delivered by electronic means, “Corporate Governance in an Era increasing legal liability of of Disruption”. Graham outlined directors and more onerous three principles that underpin continuous disclosure laws. good governance (accountability, Garrry Willinge FAICD, Graham Bradley AM FAICD and Hayden Flinn performance management and

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International Foundations of Directorship Director Briefing: 16 to 18 March 2016 Singapore Future The International Division Healthcare delivered another successful International Foundations of Directorship program in March 17 March 2016 at the Carlton Hotel.There was Singapore a diverse cohort of participants from Vietnam, Sydney and Deloitte & Touche hosted a Singapore. The participants member event for our Singapore enjoyed the networking members on Future Healthcare opportunity and hearing from with speakers discussing the our experienced International impact of technology and how it International Foundations of Directorship participants facilitators. will shape the future.

International Company Directors Course

22 to 26 February 2016 Hong Kong

The first International Company Directors Course for 2016 was delivered on Hong Kong Island at the Intercontinental Hotel. Christian Barbier GAICD There was a diverse cohort with participants from Hong Kong, Dubai, Papua New Guinea, Mark Millar GAICD, John Sundaram AAICD, Annette King FAICD Sydney and Perth. A highlight of and Russell Wilson AAICD the week was the keynote dinner featuring highly experienced practical tips on how to be a spent a highly engaged week and Director, Dr Garry Willinge successful director. The program new networks and friendships who shared some insights and was a great success and the group were developed.

Leaders' Edge Lunch: Confronting Black Swans Tamerlaine Beasley MAICD and Jesse O' Brien MAICD 25 February 2016 Hong Kong

The International Division travelled to Hong Kong and delivered a member event featuring keynote speaker Jonathan Zeal, Czar Partners who discussed the topic of Crisis Communications. Members and guests enjoyed the interesting and dynamic presentation by Jonathan and he discussed how boards need to be able to Darren Harrison GAICD respond and mitigate risks.

Guests and speakers at Hong Kong Member lunch

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WELCOME ALL NEW MEMBERS

Prof. Janet Gregory MAICD Tomi Adepoju MAICD Shaun Rolls MAICD Gregory Bruce MAICD Deputy Vice-Chancellor Partner Sweden Economic Evaluation & Business and Chief Executive Officer KPMG Advisory Services Olaf Kasten MAICD Planning Manager Swinburne University of Technology Nigeria Managing Director RasGas Malaysia Stephanie Giffard MAICD Newstate Consulting and Coaching Ltd QATAR Hong Kong Sonja Lee AAICD Director Gaurav Ahuja MAICD Senior Investment Consultant Animal Ethics & Medical Ethics Pty Ltd Nicholas Gomersall MAICD Head of Transaction Advice, Willis Towers Watson United Kingdom Group Commercial Director East Asia Region United Kingdom Sally Robinson AAICD Interflour Group Pte Ltd Arup Simone Lourey MAICD Singapore Singapore Hong Kong Singapore Nicholas Collins MAICD Josi Langhorne MAICD David Noon MAICD Head of Asia Philippa Allen MAICD Singapore Director Chief Executive Officer Telstra Infra Capital Myanmar Pte Ltd ComplianceAsia Consulting Ltd Jenny Daley MAICD Hong Kong President Singapore Hong Kong Michael Vale MAICD Omega Performance Corporation Non-Executive Director, Operations David Mansfield MAICD Pennelope Ratcliffe MAICD USA Chief Operating Office CleverX Venture Beratung Limited Area Vice President - Operations AllRig Anna Christina Sumilong MAICD United Kingdom Hyatt International, South West Asia Ltd Director, Regional Legal Affairs United Arab Emirates USA Matthew Rummer MAICD Asia Pacific Chief Executive Officer David Fernandez MAICD Norma Sit MAICD SYKES Netherlands B.V. (SYKES ROHQ) Chief Executive Officer Fords Processing Korea Co. Ltd Managing Partner Philippines Numoni Pte Ltd Korea CXO Consulting Singapore William Randall MAICD Mark Devadason MAICD Dominican Republic President Non Executive Board Director Nisha Dickens MAICD Craig Saphin MAICD Noble Group Limited Business for Social Responsibility Managing Director Chief Executive Officer Hong Kong Hong Kong World Windows (HK) Ltd Craig Saphin Hong Kong Wayne Paterson MAICD Kevin Griffiths MAICD Japan Switzerland Ng Mien Yi MAICD Senior Vice President Business Claude Marchand MAICD Director Walter Bryant MAICD Technology Solutions Chief Executive Officer The Fullerton Heritage Managing Director Emirates Airline Singapore Stolt-Nielsen Singapore (Pte) Ltd United Arab Emirates LCI Education Network Singapore Canada Maree Higgins MAICD Jonathan King MAICD Singapore Hong Kong Vip Vyas MAICD Christopher Blake MAICD John Sims MAICD IBM Innovation Services Pte. Ltd Koh Kah Sek MAICD Managing Director USA Singapore Chief Financial Officer Alchimie Asia Far East Organization Hong Kong John Chacko MAICD Mr Avi Fintz MAICD Singapore Sean Rodrigues MAICD Malaysia Group Chief Strategy Officer Jennifer Blackwell MAICD Country Manager Japan & China John Catlin MAICD Interflour Group Pte Ltd President Woodside Energy Australia Asia Regional Director Singapore Holdings Pte Ltd Associa MENA Government of Western Australia Andrew Wildblood MAICD Japan United Arab Emirates Trade & Investment Office Head of Global Enterprise Singapore Catherine Vogel MAICD Sai Shyam Tantry AAICD Telstra Manager: Network Support Commodity Director Johan Meyer MAICD Singapore International Baccalaureate NCR Singapore Pte Ltd Republic of South Africa Andrew Alexander MAICD Singapore Singapore Jim Orchard MAICD IT Director USA Carmen Smith MAICD Rick Seeto MAICD Complete Asset Life Management Senior Director, APAC Sales and Service Brand Director Jason Turnbull MAICD Group Ltd ASTAD Citrix Systems Singapore Pte Ltd Vietnam United Kingdom QATAR Singapore James Ruddy MAICD Alexander Shein MAICD Bernadette Harkin MAICD Riaan Visser MAICD Risk and Compliance Director, Mining Deputy Chief Operating Officer Philippines Republic of South Africa Sandvik Mining & Construction B.V. Nordgold Management LLC NETHERLANDS Tran Anh MAICD Paul Lange MAICD Russia Director of Corporate Affairs Chairman James Morris MAICD Dr Narelle Moore MAICD Ban Phuc Nickel Mines Ltd CleverX Venture Beratung Limited Standard Chartered Bank Vietnam United Kingdom Singapore USA Amber Williams MAICD Patrick Stringer MAICD Heath Sharp MAICD Dr Che Kuong MAICD Company Secretary and General Counsel Partner Chief Executive Officer Chairman NS Bluescope Three Towers Group Ltd Reliance Worldwide Corp Lucky Holdings Limited Singapore Hong Kong USA Macau

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INTERNATIONAL GRADUATES

Congratulations to our recent graduates of the International Company Directors Course.

Aniruddha Patil GAICD Claire Tuder GAICD Phoebe Ryssenbeek GAICD Raymond Gianoli GAICD Principal Investment Specialist General Manager Head of HR Marketing and Director Asian Development Bank Micromine Communications Jupiter 3-Rings Philippines Australia Westpac International Australia Singapore Darren Harrison GAICD Aaron Durkin GAICD Rohan Singh GAICD Managing Consultant Head of Investment Risk Jackie Robb GAICD Australia Old Street Consulting & Performance President Greater China Singapore AMP Capital Staples Inc Trent Bartlett FAICD Australia China Director Kirsten Sayers GAICD Co-operative Bulk Handling Limited Australia Paul Hardisty GAICD Cindy Liu GAICD Australia President Chief Financial Officer, Asia Charlene Stenton-Dozey GAICD Adidas Japan K.K. Westcon Human Resources Director, Japan Jane Caire GAICD Japan Singapore CBRE K.K. | Shared Services CAO, Head of Strategy Japan Jacqui Algar GAICD George Ashford GAICD & Corporate Development Vice President of Human Resource Chief Executive Officer BNY Mellon Investment Management Afrroz Hudli GAICD VP Corporation Inchcape Australia Ltd APAC Australia Hong Kong Australia Hong Kong

LONG STANDING MEMBERS

Congratulations to our long standing international members.

10 Years Margaret Coaldrake FAICD Peter Kooi GAICD John Hancock MAICD Managing Director Director Chairman Paul Atkinson GAICD Langdale Consulting Pty Ltd Acleda Bank John W Hancock & Managing Director Ireland Cambodia Associates Limited Prysmian Cables and Professor Andrew Coats FAICD Grant Lowen GAICD Thailand Systems Pty Limited Director Group Chief Risk Officer United Kingdom David Magson MBE MAICD QNB Head Office Monash Warwick Alliance Chief Executive Officer Lionel Bird GAICD Qatar United Kingdom Mitrais Pte Ltd General Manager Gerardus Spiel FAICD Dean Dowie GAICD Singapore Norton Rose Fulbright Australia Director Senior Vice President United Kingdom Hassad Foods Bruce Wade FAICD Veolia General Manager – Benjamin Bootle GAICD Qatar France Risk Group / Chief Risk Officer Regional Cheif Executive Tan Lye Huat MAICD Jane Felton GAICD National Bank of Bahrain Beston Global Food (Thailand) Singapore Company AUSTRIA Bahrain Thailand Joseph Hoess GAICD 15 Years Dr Peter Chalmers GAICD Director 20 Years Head of Developement & Dragon Capital Clean Richard Clark MAICD Registration Asia Development Co Ltd VP Strategic Marketing John Willimott GAICD Makhteshim-Agan Singapore Thailand Alcatel-Lucent International New Zealand Singapore Channy In GAICD France Soeun Chhay GAICD President and Elizabeth Hamer GAICD 30 Years Director Chief Executive Officer Director ACLEDA Bank Plc ACLEDA Bank Plc CBM Australia Ronald Goddard FAICD Cambodia Cambodia Nepal France

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DIARY DATES Events Courses

For all enquiries t: +61 8 9320 1700 e: [email protected] w: companydirectors.com.au/courses

7 June 18 July 26 October International info session International Foundations International Foundations AICD Member Lounge, Sydney of Directorship of Directorship Governance for Governance for 6 to 10 June International Directors International Directors Taking International Company Carlton Hotel, Sheraton Hotel, Directors Course Singapore Hong Kong Four Seasons Hotel, Sydney 19 July 27 October your 13 June International Foundations International Foundations International Foundations of Directorship of Directorship talents of Directorship Strategy and Risk for Strategy and Risk for Governance for International Directors International Directors global? International Directors Carlton Hotel, Sheraton Hotel, The Excelsior, Hong Kong Singapore Hong Kong

14 June 20 July 28 October Build your International Foundations International Foundations International Foundations foundation with the of Directorship of Directorship of Directorship world’s leader in Strategy and Risk for Finance for Finance for International Directors International Directors International Directors director education The Excelsior, Hong Kong Carlton Hotel, Sheraton Hotel, Singapore Hong Kong If you aspire to a global career, 15 June 5 to 9 September 14 to 18 November the International Foundations International Foundations of Directorship course is for International Company International Company of Directorship you. Navigate the challenges Finance for Directors Course Directors Course International Directors The Excelsior, Pan Pacific, of international directorship, The Excelsior, Hong Kong Hong Kong Singapore network with peers and build your awareness of global governance.

International Foundations of Directorship Distinctive Corporate Services 13 to 15 June 2016, Hong Kong 18 to 20 July 2016, Impress and reward your valued clients and staff with Voyager Estate’s Singapore exceptional wines, creative gift hampers 26 to 28 October 2016, and memorable wine experiences. Hong Kong

23 to 25 November 2016, Gift Service Vietnam Wine Purchases Private Tastings To enrol Off-site Tasting Experiences t: +61 8 9320 1718 Estate Experience w: companydirectors. Private Dining com.au/IFOD Staff Rewards

To learn more of our personalised corporate opportunities, contact Adam Elton: +61 8 9767 6354 or [email protected].

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