april/may 2017 www.adb.org.sg

Hidden Gems in Singapore: Haw Par Villa ... page 12

event singapore All Aboard! Cycling loops in Singapore ... page 3 … page 14 SINGAPORE MANAGEMENT UNIVERSITY EXECUTIVE DEVELOPMENT

FOCUSED ON ASIA–TRANSFORMING PERFORMANCE Integrating the best of Asian and Western practices and theories, our Public Programmes and company-specific Custom Programmes deliver outstanding returns on investment for individuals and organisations, leveraging meticulously- designed curricula which address business challenges in the context of Asia.

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facebook.com linkedin.com Singapore Management University, Executive Development For more information /smuexd /company/smu-exd 81 Victoria Street, Level 10, Singapore 188065 please visit us @ Tel: +65 6828 9095 Email: [email protected] exd.smu.edu.sg President’s Message

Work hard - Play hard

It has been a busy period, and although the board has been working on the proposed ADB-DutchCham merger for quite some time, we came under a bit of Board Members pressure lately. Our AGM (which was on March 21) was approaching fast and we obviously wanted to Reinder Peek present a well thought-through merger proposition and be prepared Vice President / to be probed by an inquisitive audience. Given however that things Board Member Sponsoring Managing Director seldom go faster than scheduled, this cumulated in multiple meetings Keppel Smit Towage Pte Ltd and late evening brainstorming sessions in the weeks before our AGM.

The day following the AGM we (the board members) circulated an Tom Smeenk email summarizing the members’ comments and feedback. One of Honorary Treasurer Business Development the board members asked me how I felt about the meeting. Manager LNG Asia Royal Vopak I responded that I was happy with the members’ participation and the overall course of affairs. Without much thought, I continued typing to say that I am very proud and grateful to have such a nice Peter Paul Bloemsma Secretary / Board board, thanking them for their friendship and willingness to ‘go the Member Events extra mile’. Partner 2Sherpa

I guess all of us share that same sentiment. When working in a fun environment, hard work all of a sudden doesn’t seem so hard Aleid de Savornin anymore. This holds true not only when volunteering but also in Lohman professional life. I am quite convinced that if you don’t enjoy what Board Member Communications Legal Consultant you do, it is much harder - if not impossible - to perform at top level. ICBC Standard So, having fun enhances professionalism (although you obviously need to balance it).

Daniël Heerkens Thinking about it, this concept has been at the root of our discussions Chief Editor Digital Marketing with DutchCham. Too often it is thought that “professionalism” and Strategy Director “having fun” are each other’s opposites, but actually they are not. 2Stallions Only in an environment where they nicely complement each other, do people tend to function best. Wenneke Vrugt-Repko General Manager This line of thinking was also supported by the DutchCham board, Graphic Designer where two days after our AGM at the ‘Winsemius Awards Gala’ (see Triple You Design Pg 11 in this magazine). This outstanding event had a new twist this year: the somewhat formal dinner and awards ceremony was - for a first time - followed by a cocktail and live music. A nice mix of business and pleasure. Needless to say, that was very well received °°° by the crowd. The ADB connects Dutch Professionals in Singapore. °°° ... Joep Ottervanger ...

1 Editor’s Note

Contents Cultuur opschuiven 1 President’s Message 2 editor’s Note 3 all Aboard! Welcome to the April & May edition of the Association of Dutch Business People Magazine. 4 startup & SME Academy “Know how much you’re worth: be operationally & financially In this issue, we focus on our events booking.com, healthy to raise more funding”. Startup & SME Academy, & ADB Volunteer’s trip to 6 Consumer Goods Leaders: Lazarus Island, we had in February & March. 9 thoughts about the cutting edge, rapidly changing consumer Aside from all the outstanding events that ADB has organized with goods industry in Asia its partners, February & March are always busy months full of new 8 From the Dutch Embassy: business ventures to explore or holiday places to go to. Interview with Henk Ovink 9 a look into a day of the The theme of this month’s magazine is on what can be done after Netherlands Embassy interns! work and on the weekend. Very often people say that Singapore is a 10 Personal Finance – Different “concrete jungle with lots of green” and it can be a bit boring at times. approaches to business valuation We are going to prove them wrong and, to make sure that you can 11 Winsemius Awards Gala Dinner enjoy the time outside of work more, we have put together a number 12 Hidden gems in Singapore: of articles to spruce up your days off: Haw Par Villa 14 Cycling loops in Singapore 1) Hidden Gems (part 1) Haw Par Villa 2) Cycling loops in Singapore 16 Interview Jan-Willem 3) Double Confirm, Double Dutch & Double Standards 18 Double Confirm, Double Dutch & 4) Best happy hour deals in Singapore: Drink cheap at these Double Standards cool bars in town 20 Best happy hour deals in 5) Upcoming exciting events (dragon boat festival, Sting concert & Singapore: Drink cheap at these Tech in Asia conference) that everybody can attend in Singapore cool bars in town whether you are young or old. 22 aDB News – Announcements, member info and more Our editorial committee is expanding and more quality articles are 24 Company visit: Booking.com being added to the magazine. If you are keen to write an article every 2 months feel free to reach out to me. We are always looking for new inspirational writers. Haw Par Villa Singapore Enjoy reading.

... Daniël Heerkens ...

Cover photo: JPL Designs / Shutterstock.com

2 ADB Events

On February 11, the Board of ADB invited all volunteers to join an outing to thank All Aboard! them for their efforts over the past year. ... Photos by ADB ... You might not always think about it but the magazine is made through ‘blood, sweat and tears’ in the free time of the

By Krista van der Veen volunteers. The events also don’t happen overnight; it takes Executive Director at Trustmoore planning, researching for interesting subjects and people and then arranging for sponsorship (so you can enjoy these events for free or a small contribution). The yearly Dinner & Dance was made possible by volunteers such as DJ Max van der Pols. Over the past year, ADB organized a whopping 15 events so it was time to sit back, relax and enjoy the Thank You from the board!

We gathered at the harbor in in our Love Boat outfits because we were going on a cruise! The boat took us to the location, where we anchored, enjoyed a few drinks and dips in the water. Of course, our ‘Captain Joep’ enjoyed a moment of fame as he addressed the party. It was great catching up with everyone and to see the group who makes ADB possible all together! I would like to thank the Board for this amazing outing. All aboard….. for a new year filled with great events!

Please feel free to contact us via [email protected] if your company would like to contribute to ADB! (presentations, tours, sponsorship etc.). •

3 ADB Events

StartUp & SME Academy “Know how much you’re worth: ... Photos by Thomas Choong ... be operationally & financially healthy to raise more funding”.

By Merle Meeuws Trainee International Communication bij Embassy of the Kingdom of the Netherlands in Singapore

Photo: Mirjam Hansen That was the message to be sent across the Startup A wide variety of companies and starting point, rather than an & SME Academy on March branches were represented at end point. nd 2 2017. Many of the worries this fifth successful edition of the and concerns on what to Academy. In the open atmosphere In conclusion to this remarkably do in your start-up were created by The Co. (a co-working well received event, we can say taken away by the speakers, space in the city-centre), 50 that the Startup & SME Academy and plenty of insight was participants with all sorts of titles has great value! Perhaps it is time and backgrounds gathered to gain for the Academy to go to the stock given on tackling any knowledge and to be advised by each exchange… Or even better, to focus obstacles. Participants left other, as well as by expert speakers. on another outstanding next event! the event enlightened, with a full stomach, but with ‘Every company has value’ is what Are you an entrepreneur and enough food for thought Sneha Sultania, the first speaker interested in joining the next event? left. However, many could from BizEquity, pointed out. During Then visit our website: www.ssa.sg. have stayed even longer, her presentation she highlighted the added value of knowing what your The Startup & SME Academy is a networking and discussing company is worth. Pieter Kemps collaboration of the Association of this valuable topic. from Sequoia Capital, the second Dutch Business People, DutchCham speaker, followed up on that by and the Embassy of the Kingdom of outlining a company’s value as a the Netherlands. •

4 What is the Startup & SME Academy?

The Association of Dutch Business people (ADB), DutchCham and the Embassy of the Kingdom of the Netherlands have joined forces to organise a series of interactive events under the name Startup What is the Startup & SME Academy? and SME Academy (SSA). What is the Startup & SME Academy? The Association of Dutch Business people (ADB), DutchCham and the Embassy of the Kingdom of The Association of Dutch Business people (ADB), DutchCham and the Embassy of the Kingdom of the Netherlands have joined forces to organise a series of interactive events under the name Startup The goal of thethe Startup Netherlands & SME have Academy joined forces is to provideto organise relevant a series content of interactive and peer-to-peerevents under the knowledge name Startup and SME Academy (SSA). sharing for Dutchand professionalsSME Academy (SSA).that are part of the Startup and Small and Medium-sized Enterprises (SME) community in Singapore and for local stakeholders keen on working together with Dutch The goal of the Startup & SME Academy is to provide relevant content and peer-to-peer knowledge The goal of the Startup & SME Academy is to provide relevant content and peer-to-peer knowledge Startups and SME’s.sharing for Dutch professionals that are part of the Startup and Small and Medium-sized Enterprises sharing for Dutch professionals that are part of the Startup and Small and Medium-sized Enterprises (SME) community in Singapore and for local stakeholders keen on working together with Dutch (SME) community in Singapore and for local stakeholders keen on working together with Dutch Every six weeksStartups there willand SME’s.an event, which will be led by one or more experts regarding a particular Startups and SME’s. topic. Each session has the same structure: speakers that share their knowledge and experience, Every six weeks there will an event, which will be led by one or more experts regarding a particular interactive groupEvery sessions six weeks and there networking. will an event, There which will will be be plenty led by ofone time or more for questions,experts regarding discussion, a particular topic. Each session has the same structure: speakers that share their knowledge and experience, pitch business topic.ideas Each and sessionreceive has on the the same spot structure: feedback. speakers that share their knowledge and experience, interactive group sessions and networking. There will be plenty of time for questions, discussion, interactive group sessions and networking. There will be plenty of time for questions, discussion, pitch business ideas and receive on the spot feedback. The Startup & SMEpitch Academybusiness ideas is meant and receive for Dutch on the founders, spot feedback. co-founders and employees of startups and SMEs in Singapore.The Startup & SME Academy is meant for Dutch founders, co-founders and employees of startups The Startup & SME Academy is meant for Dutch founders, co-founders and employees of startups and SMEs in Singapore. and SMEs in Singapore. Upcoming events: Upcoming events: Upcoming events:

2 March 2017 20 April 2017 25 May 2017 29 June 2017 14 Sept 2017 Sept 2017 2 March 2017 20 April 2017 25 May 2017 29 June 2017 14 Sept 2017 Sept 2017 2 March 2017 20 April 2017 25 May 2017 29 June 2017 14 Sept 2017 Sept 2017

Be financially Be financiallyOperational OperationalLaunching LaunchingExpanding Expanding your yourJoin forcesJoin forcesas as NetworkingNetworking Be financially Operational Launching Expanding your Join forces as Networking healthy and healthy and and cultural innovative business fromstartup startupand large and large dinnerdinner on on healthyand and cultural and culturalinnovative innovativebusiness businessfrom from startup and large dinner on compliant as a challenges of products in Singapore to company in order invitation for compliant as a compliantchallenges as a of challengesproducts of in products Singaporein Singapore to company to company in order in order invitationinvitation for for Startup and SME Human Resource Singapore from APAC to co-create startups, SMEs Startup and SMEStartupHuman and SMEResourceHuman SingaporeResource fromSingapore fromAPAC APAC to co-createto co-create startups,startups, SMEs SMEs Management in Europe and US and realize new and large Management inManagement Europe in and EuropeUS and US and realizeand realizenew new and andlarge large Singapore businesses from companies businesses from companies Singapore Singapore businessesscratch from companies scratchscratch

For more information and tickets visit the website: www.ssa.sg For questions you can send an email to: [email protected] For more information and tickets visit the website: www.ssa.sg For questions you can send an email to: [email protected] BusiNess

Consumer Goods Leaders: thoughts about the cutting edge, rapidly changing consumer goods industry in Asia

By Daniël Heerkens Digital Marketing Strategy Director 2Stallions

Q1 has passed by so quickly, it is already Q2, which means that it is time for new budgets, organization changes, and rapid digital innovation that may disrupt many big businesses out there.

There were some drastic changes in the industry in 2016, where allowed manufacturers to bypass their retailers to sell their AB-Inbev took over SAB Miller for a merger of more than goods and engage with their customers directly. US$100 billion, making them the largest beer company in the world. Unilever, on the other hand, bought the Dollar Shave These factors are the strong-suit of start-ups such as Dollar Club for US$1 billion, which is 5x more than their actual worth, Shave Club who mastered how to authentically converse with and gets into direct competition with P&G’s Gillette and Schick. their customers over different digital channels. In 2012, they Here are 9 more changes in Asia to keep you on top of the game. released a YouTube video that went viral, made their website crash, and sold out all their products. Manufacturers are selling directly to consumers through online channels Direct sales are going to be more vital for consumer Consumer goods marketers are trying to find ways to directly goods companies going forward communicate with their customers. Marketers of consumer Under Armour, a huge rival of Nike in the sports apparel space, goods manufacturers are now realizing that using digital tools focused on e-commerce sales and had a 23 percent increase in to converse with their customers is the way to go. According to DTC revenue in 2016. A huge part of this success is attributed to Forbes, there will be a 71% growth in manufacturers who sell company websites launched in places like Thailand and Belgium directly to their consumers. in 2015.

Nike, a well-known consumer goods manufacturer, has DTC has a myriad of benefits. While big brands do make a managed to grow sales further by launching NIKEiD, which is killing when it comes to sales through retailers, they are still an online service that lets customers customize their own gear. at the mercy of those retailers when it comes to customer The DTC campaign was responsible for 22% of Nike’s total experience. That is why direct sales and e-commerce is going revenue in 2015. to be even bigger.

Retailers are starting to weaken Nurture Direct to Consumer relationships to reduce Since manufacturers are starting to directly engage with their the barrier and get direct sales customers, retailers are weakening. New digital channels have Nurturing those customers from direct sales properly is

6 becoming more important. Gatorade, a beverage brand, Market leaders know that disruption is a good thing. These has been very successful when it comes to building DTC leaders are changing industries by incorporating modified key relationships. frameworks like the 4P’s. Here are the redefined versions: • Think more about Service – Adding services wrapped A report from Prophet mentioned that Gatorade had realized around the product increases value proposition and makes that 75% of competitive athletes spend time online to learn more the brand more personalized. Service adds value to the about their sports. Using Gatorade’s Mission Control Center, customer. they were able to analyze online comments about Gatorade’s • Access – Brands that are more accessible have a huge wares and understand what their customers really want. advantage over those that aren’t. • Variable Pricing – Consumers can now have the option to Logistics is vital for Consumer Goods Companies choose what they need and get what they paid for. going direct to consumer • Engagement – Directly engaging customers and encouraging A development that Amazon has in the works is a drone that participation to experience the brand helps develop a more will deliver your items right to your doorstep. A patent has lasting relationship with the brand. been filed and it describes a drone that can release packages during flight. It’s never too late to enter Emerging Markets Digitally In Southeast Asia, Lazada has partnered with an e-commerce The gap is still huge for brands who plan to enter emerging logistics start-up to compensate the slow and sometimes markets digitally. This is because the consumer population, the unreliable shipping companies available locally. It might not majority which falls into the millennial bracket, demands more be as high-tech as what Amazon has been doing, but it sure is premium and exclusive products. a good start. In Asia, Lazada has been dominating the e-commerce business Fast Up trading to Premium Products movement in and has been valued at $1.3 billion. Despite this high valuation, most Asian Countries it is still expected to grow rapidly in the years to come. Consumers who live in countries that are becoming stronger economically are more willing to trade up their usual brands to Take a Digital Data driven approach to increase ROI a more well-known brand. Data-driven marketing utilizes customer-related data to relay the right message to the right audience, at the right time, and One product that is benefiting from this up-trade is baby milk drive the right consumer behavior. The beauty in this type of formula. Mums are willing to spend more on premium brands approach is that everything is measured and you will see which since it means more scientific research and better ingredients areas you need to improve on and it eliminates ineffective were used on the product. And with Asia’s economic rise, a lot of marketing. premium brands have a gap to fill in the market. The approach allows businesses to spend less money with Market Leaders disrupt their own business models maximized results by not having to cast a wide net in terms of to unleash future growth advertising and avoids wasteful spending. •

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7 from the dutch embassy

Interview with Henk Ovink ... Photo by Evert Toss ...

Who is Henk? “The bald guy from Holland, standing with his suit in the water”, is what most people say when referring to the photo on my Twitter account and in NY Times Magazine. I am the Special Envoy for the International Water Affairs for the Kingdom of the Netherlands. As you probably know the Dutch are famous for the way we live with water, for our dikes and storm barriers, for creating the safest delta in the world and for making our water governance effective and inclusive. capacity, businesses and research institutes with our Singaporean counterparts. Our governmental As a thematic ambassador, my role is to help build partnership, working in close collaboration with partnerships around the world to reach a more the Dutch Embassy, is a rewarding friendship. Of water secure world, matching the Dutch talent all countries, the Netherlands is the number two with the talent from all our international partners. investor in Singapore, so the interests from both Worldwide, water is the connecting issue. With sides are big. its integrated approach to water shortages, water safety, water quality, logistics and transport, the What is your main message? Dutch make a difference across the globe, and we In the Netherlands, we’ve learned that want to partner with nations around the world to collaboration is key. It is critically important help solve these global water challenges. to include all our partners and stakeholders, including the communities, at the start of each What brings you to Singapore? project. Policy debates often lead to negotiations, For the second time, I was the ‘Visiting Fellow’ while an inclusive process, direct involvement of the Centre for Liveable Cities. We arranged of all stakeholders, leads to collaboration. We meetings to share knowledge and work on new need the latter more than ever with the complex ideas and approaches on climate adaptation, water challenges we face! This requires a comprehensive challenges, urban planning and governance issues and cultural change. with the different government agencies. Also, I had very inspiring talks with Minister Masagos You saw the oval office from the inside, of Environment and Water and with Deputy I read. Prime Minister Tharman. These conversations Haha, yes. In my former job I served as a senior made me realize how important and inspiring our advisor to the American Federal Government on collaboration is for both countries and the world President Obama’s Hurricane Sandy Rebuilding at large. Together we can inspire others and help Taskforce. For the reconstruction of the New build capacity and be innovative for the much- York and New Jersey region, I developed and needed change. lead the ‘Rebuild by Design’ contest. I am proud to tell you that the Obama Administration Every time I am in Singapore it is great. I feel awarded Rebuild by Design as the most very welcome and at home here. There are a groundbreaking challenge and CNN designated lot of similarities between the Netherlands and it as one of the most innovative ideas of 2013. It Singapore: both countries are densely populated, was a real Dutch-USA collaboration, with several both very small, highly innovative and both have Dutch companies and organisations still working open economies. The Dutch also have a substantial together with their American counterparts on the maritime and water community. Economic implementation of the winning projects. And yes, diplomacy is key: I try to link Dutch governed in that role I got a glimpse of the oval office. •

8 from the dutch embassy

A look into a day of the Netherlands

Embassy interns! By Merle Meeuws Trainee International Communication bij ...... Embassy of the Kingdom of the Photo by Mirjam Hansen Netherlands in Singapore

The Netherlands Embassy is a vibrant place with a constantly changing team. This is partly because many interns come and go every year! Dazzled by the greatness of Singapore, they arrive for their first day of work, all set for an unforgettable experience. Meet Marco, Naomi, Alexander and Merle who are currently assisting the Embassy’s team. Here’s a look into a day in the life of the Netherlands Embassy interns:

Still getting used to the ‘work life’ rhythm, I wake up with the rising sun. Eating breakfast From left: Marco Swan, Merle Meeuws, Alexander van Dorssen, while watching the latest news, Naomi Riteco I get ready for the day! For me, every day is different. I write, share, like, The fourth edition of the OA Factory edition will summarize, link and publish a plethora of items be organized in Singapore to focus mainly on while taking on various projects and mapping Sustainable Urban Development. As Singapore out communication strategies. Sometimes, work continues to grow, sustainable business solutions just ‘occurs’ and before realizing it, the hours for cities are vital but also a challenge. I am have passed. responsible for helping to set up this project. Merle Meeuws - Communications Doing project management work is interesting, challenging and ever changing. After having plowed through the myriad of Naomi Riteco - Project Management Orange e-mails, I grab my GrabCar towards the Marina ASEAN Factory Mandarin. The Asia Foundation, together with the S. Rajaratnam School of International At the end of the working day, I usually wonder Studies, is launching a report: “Asian Views on how fast time flies! Setting up meetings with America’s Role in Asia”. Experts from all over research institutions, water companies and Asia are discussing the effect of the new Trump the national water authority regarding water administration. There are many challenges for technology has been the main focus in my first this region, but also opportunities and I’ll make week as an intern. Besides that, organizing events sure to discuss both in my summary. But first, and participating in various logistical tasks also time for lunch. mingle into my daily work. The importance Marco Swan - Regional Strategies for of time management and the variation in Southeast Asia tasks makes this internship a challenging, yet rewarding experience! Back to work after a good lunch break at Alexander van Dorssen - Water Technology , it is time to set up a video conference to discuss Orange ASEAN Factory. Be bold, be an intern, be in Singapore. •

9 personal finance °°°° Different Approaches to °°°° business valuation

... By Freddy Meindertsma ... option on your firm which commits the buyer at a premium to be deposited by the seller. You as a company owner can Most of us invest in stocks or private equity during the course walk away at the cost of the option within the time-span of of our lives, but how do we sufficiently assess the value of the contract. Exploration for oil, clinical trials, patents are all what we buy? Making your own valuation might distract you, suitable to contingent claim valuations models. causing you to lose momentum and delay your investment decision. Both buyers and sellers require assessment tools to Asset based valuations focus more on liquidation value assess whether the valuation is higher or lower. or replacement cost where the balance sheet is the main input. From a given book value corrections are made on for The main generic approaches to valuating a business are: instance impairments, intangible assets such as goodwill, 1. Discounted cash flow models intellectual property rights. 2. Relative valuation 3. Contingent claim models 4. Asset based valuation

Which one to use? The efficient market hypothesis tells that markets efficiently price in all relevant factors, leaving little room for arbitrage opportunities. For public listed companies the stock price is thus seen as a best estimate of value or even stronger by saying ‘the market is always right’. The use of discounted cash flow models and relative valuation assume however, that there are indeed inefficiencies and market prices still have to be calculated and verified. Investors consider the market How to use this? price to be a volatile and an imperfect reflection of value, and Investors are eager to invest per the valuation approach. thus place a great emphasis on valuation in order to profit I advise them to study yearly financials of the company of from underpriced stocks on the purchase side and overpriced interest and make a prior study of investment gurus like stocks on the sell/short side. Benjamin Graham and Warren Buffett.

Warren Buffett is a great example of a “value” investor. Another good way to get acquainted is to buy Berkshire- The discounted cash flow approach means the cash flow of Hathaway shares and attend the famous Annual General a company has to be positive at some time over the life of Meetings. the asset to contain value. It also means early cash flows are worth more than the same generated later. The value of As a business owner the use of a valuation model allows equity in a firm is obtained by discounting cash flow to equity you to project how your business might develop financially by the cost of equity. The discount factor should be related to in different scenarios. Even if you just had one year of the risk underlying the equity investment. A specialized case operations or for instance face erratic growth, there is always of equity valuation is the dividend discount model, assuming a way to work out important multiples. Some investors a steady dividend policy. merely require earning back their investment within a given period of time. Relative valuation looks at how similar or comparable companies are priced in the market. The focus is not on For you to attain the worth of your investment at any intrinsic value but on what the market is willing to pay given point in time, the use of a valuation model will keep for it. Think about Snap Chat and where intrinsic value is you prepared. • that difficult to assess, it needs a relative valuation for IPO pricing. And the market is still trying to price it correctly. Freddy Meindertsma is Senior Financial Consultant with Professional Investment Contingent claim valuations are related to options with a fixed Advisory Services (PIAS). He has over 20 life span and an exercise price on an underlying value. If you years of experience in banking and wealth advisory, 11 of which have been in Singapore. He can be for instance receive a take-over price for your company but reached at: [email protected] not yet ready to sell, you could ask the buyer to write a put

10 DutchCham Singapore

Winsemius Awards Gala Dinner

The Winsemius Awards celebrated its third edition this year, organized by DutchCham on Thursday March 23, 2017 at the Grand Hyatt hotel. The awards represent winners whose level of sustainability and innovation is outstanding.

Commenting on the new categories of awards, the increase of guests at the tables and the increase of company submissions for the awards this year, Mr. Ynse de Boer, President of the Dutch Chamber opened the third annual Winsemius Awards for Sustainability and Innovation.

Ambassador Jacques Werner, followed up on Mr Ynse de Boer, stating that ‘Standing still is moving backwards and it is therefore good to see that companies in Singapore value innovation to a great extent’. ‘They acknowledge innovation, sustainability and creativity’, said Ambassador Werner Winner is… and he announced a new era of economic growth with sustainability at its core. ‘Winsemius created the spirit of Water: Royal HaskoningDHV bilateral cooperation and we are here to make it last longer’. Maritime: Heerema Marine Contractors Food & Nutrition: FrieslandCampina Guest of honor and Minister for National Development Professional Services: Appical & Second Minister for Finance, Minister Lawrence Small Business Rising Star: Otonomos Wong, agreed with the Ambassador that we owe a debt to Winsemius ‘for standing at the beginning of Singaporean Singaporean-Dutch Cooperation: NUSDeltares and Dutch cooperation’. Minister Wong recalled being in the Collaborative Innovation: Unilever Netherlands, in Rotterdam, realizing to be standing below sea level and his conclusion to that experience was that ‘it is For more information contact: all about knowing how to adapt and how we must learn from Nele Cornelis each other’. ‘Let’s look forward to building a better future Executive Director Dutch Chamber of Commerce Singapore together’, said Minister Wong and these concluding words E-mail: [email protected] are endorsed by the Winsemius Awards. • Telephone: +65 6536 7750

11 SingaPore

By Alexis van Dam CMO at Insurance Market Hidden Gems in Singapore: Pte Ltd Haw Par Villa ... Photos by Alexis van Dam ...

Singapore is well-known for landmarks such as , Botanical Gardens, , hawker food centres, Formula 1 night race, Raffles and the Chinatown district. There is, however, more to Singapore than these famous landmarks. The island has so much more to offer when it comes to hidden gems!

Haw Par Villa, also known as Tiger Balm Gardens Chinese themed experience. The brothers commissioned This hidden gem was put back on the map due to the various statues and frescoes that depicted Chinese cultural and Singaporean Tourism 50 years’ campaign. The founders, Buddhist virtues. and Aw Boon Par, are two brothers who are also responsible for the creation of Tiger Balm, a product well- Chinese Theme Park known to the majority of the world’s population! The Tiger Balm The park has free admission and is open between 9am and 7pm. product was a real success and brother Boon Haw built Haw Par It is easy to get there since the yellow circle line has a station Villa for brother Boon Par as a gift in 1937. It started as a villa under the park. The open-air theme park features over 1000 with extensive surrounding grounds, and later it was opened colourful sculptures; think of a giant gorilla, mermaids and to the public when they decided to make it an educational Chinese legends. Not coincidentally, you see tigers in multiple

12 spots throughout the park. There are also several Buddha statues such as Launching Buddha and Ambitabha, and a scene with sumo wrestlers and a pagoda. Remarkably, there are not only statues of fables but also a few big tableaus that depict Chinese Virtues and Vices. This is very educational for young (Chinese) children since they can see and learn what is expected from them when they grow up.

For visitors who are interested in history, a number of large tableaus featuring the experiences of the Chinese explorations in the west can be seen. The history exhibition is setup clockwise and it reads like a ‘comic’.

When I visited the park, something that really struck me was the fact that this is an open-air theme park made of stone and a high level of detailed, colourful painted statues. During my visit, there was maintenance and restoration going on. This is especially necessary in this sunny and rainy climate.

Visit the 10 Courts of Chinese Hell This part of Haw Par Villa is probably the most well- known whenever someone mentions the park, and it is hard to miss since it is the only covered part. It is not suitable for the faint-hearted or probably really young children due to its very graphic nature. Visiting this felt like a boat-ride through a dark tunnel (hell).

“Get an insight in what happens if you go to Chinese hell”

A quick tour takes you about an hour, if you want to have the full experience it can take up to three hours. Haw Par Villa is a gem with beautiful scenery and outlook on the West Coast and harbour of Singapore. Learn something about the Chinese virtues while walking in a nicely sculpted park. •

13 SingaPore

Cycling loops in Singapore

Cycling in Singapore hasn’t been always great, but since completion in 2015 you can now explore four wonderful park connectors — North Eastern Riverine Loop, Northern Explorer By Rob Lamers Marketing Manager at Stamford Loop, Eastern Coastal Loop and Western Adventure Loop. American International School

Northern Explorer Loop plenty of nature and relaxing waterfronts. Beginning from You’ll be off to a quiet start at Lower Reservoir Park, you’ll be riding along breezy reservoirs and Park, which will lead you away from the busy coastlines, along Punggol Promenade Riverside Walk, heartlands, past and into the dense Wetland, and and gravelly path of Ulu Park Connector via Riverside Park before ending your journey at the Park Connector. The 11km loop takes you to the Park Connector. Not a fan of the sun? The , where nature lovers can attempt to spot night scene at Punggol Promenade Riverside Walk, which wildlife at Sungei Cina’s fresh water swamps, mangroves has fiber optic features that light up after dark, is pretty and grasslands before making a final stop to admire the awesome too. There are also great dining options nearby sea view at one of Singapore’s longest coastal jetties in such as cafe-bistro Whisk & Paddle (10 Tebing Ln., 6242- Woodlands Waterfront. 4617) and seafood restaurant Ponggol Seafood (3 Punggol Point Rd., 6448-8511). Early birds who are in the area The journey: Reservoir Park, Mandai before dawn can catch the sunrise at the Sunrise Bridge in Park Connector, Ulu Connector, Punggol Waterway Park. Woodlands (SLE) Park Connector, Admiralty Park and Woodlands Waterfront The journey: , Sungei Park Duration: 1 hour Connector, Punggol Promenade Riverside Walk, Lorong Halus Wetland, Punggol Promenade Riverside Walk, Northern Eastern Riverine Loop Punggol Promenade Punggol Point Walk, Punggol Park This 26km biking trail, which comprises Buangkok, Connector, and Buangkok Sengkang, Punggol and Lorong Halus Wetland, links Park Connector you through Serangoon Park Connector to Punggol with Duration: 2 hours

14 Eastern Coastal Loop One of the easiest connectors to navigate, it’s a 17.5km trail which takes you from Town Park to . You can rent bicycles from the PCN Pitstop starting point at before passing through open grasslands, freshwater wetlands and lush trees along Eco Green and Reservoir Park. It’s also a good spot to stop for lunch or dinner—Bedok Food Centre is around the corner Photo: Awee_19 and popular bistro Wawawa (901 Rd., 6285-8038) overlooks the reservoir. The loop ends at East Coast Park where more dining options can be found at Parkland Green (920 East Coast Parkway), a relatively new cluster of bars and restaurants such as Western cafe Sandbank (#01-28-32 Parkland Green, 6346-7988) and microbrewery Full Pint Brewery (#01-20-24, Parkland Green, 6342-0244). If you still have time to spare, head back up to Beach Park through the Coastal Park Connector, where you can choose to take a bumboat to or have dinner at .

The journey: Pasir Ris Town Park, , Bedok Reservoir Park, Bedok Food Centre, Photo: URA Bedok Jetty, East Coast Park Duration: 2 hours

Western Adventure Loop Ease into this 12km route at Park before riding along the canal at Pang Sua Park Connector, where the eagle-eyed may spot a variety of birds like the Pacific Swallow and the White-Bellied Sea Eagle— there are even two butterfly gardens to explore if you have time to spare. Arriving at via the Park Connector, you’ll be getting a full workout on the area’s uneven terrain before passing through where a pit stop at the Singapore Quarry is a must. There, you can take lots of Photo: justrunlah.com photos of the wetland’s striking cliffs, which overlook a tranquil lake. Finally, at Nature Park, you can check out the park’s orchids, Quarry Pool and World War II Memorial Site.

The journey: , Pang Sua Park Connector, Bukit Panjang Park Connector, Zhenghua Park Connector, Dairy Farm Nature Park and Duration: 1 hour •

Woodlands Waterfront Punggol Waterway Park Pasir Ris Town Park Bukit Batok Nature Park Photo: wordpress.com

15 Interview Charity Garage Sale Interview Jan-Willem Collection ... Photo by Jan-Willem ...

By Daniël Heerkens All proceeds go to Singaporean Charities Digital Marketing Strategy Director 2Stallions Organized by NCA Giving back to Singapore

Who is Jan-Willem and what made him into the man market. Due to the number of markets in the region, it is he is today? important for me to focus on stakeholder management. On My name is Jan-Willem Snoeker, 30 years old and married top of that, I need to have local understanding of the market Please donate any item you can to Lisa. We moved to Singapore in July 2016 for my new and consumer insights to enable growth in the markets. like (branded) clothes, toys, art role at Philips. Before I started working, I completed two I believe those three pillars; communication, stakeholder degrees in Business and Corporate Law (Amsterdam). In management and market understanding, are essential to be shoes, household items early 2009 I founded my own company, which developed successful in Asia Pacific. online financial applications for self-employed people. After We will take almost anything selling my company, I worked for Oracle in a sales position How do you motivate your international team? as long as it is clean and in based in Dublin, Ireland. Since I started working for Philips, I am a person with a high energy level and passion for the I have been in sales for the Lighting division and Global business. One important way to motivate your team is to good working order Business Development Manager for Air Purifiers. In my build relationships through regular face-to-face meetings current role, I am responsible for Floor Care (Canisters, and calls. With this collaboration, I am able to increase my Sticks and Robotics) and Air Purifiers. My scope is Asia understanding of the market, develop common objectives Pacific, which includes Korea, Australia/ and convey my belief in them reaching the New Zealand and South East Asia. goals. It is also important to build in small Collection point One important successes along the way, which need to be 42 Jalan Kampong Chantek What has your company’s biggest “way to motivate acknowledged and sometimes celebrated. 588618 achievement been in the your team is to build From 22-26 May regional market? What are your hobbies? relationships through Mon-Fri 8am - 8pm Currently, Philips is in a state of Sports are one of my most important transformation moving to a Health Tech regular face-to-face hobbies, and there are 3 sports that I do Company. After the IPO of Lighting last meetings and calls. at least once a week, although maybe one Garage sale year, Philips has two main divisions: of them is not always perceived as a sport. Hollandse Club Health Systems and Personal Health. I ” One of the sports I enjoy is running. I Help raise money for work for the latter. One of the key successes of recent years have to say, in Singapore it is more challenging than I am local charities 22 Camden Park is the introduction of Air Fryer, which enables consumers used to. I always bring my Camel Bag full of water when 28 May to use significantly less oil to fry food. Personally, the going out for run. Secondly, I love to swim, and I have done 10am - 1pm introduction of Robotic Vacuum cleaners has also been since my first days in the swimming pool as a kid. I used successful. Consumers are changing house cleaning to play water polo, however due to the intense training behaviour, and with our new propositions we can deliver schedule, I have moved on to individual swimming. Last on consumer needs. but definitely not least, yoga is important to me. It gives me an opportunity to stretch and relax, which is not a luxury What do you consider as essential when working with in my current busy lifestyle. In addition, of course, I like to your team to grow in the Asia Pacific markets? go on holidays. This region is amazing with new cultures, Since 1968 Asia Pacific is a diverse region with a broad spectrum of food and nature to explore. In particular, hiking through cultures and ways of working. I very much like the diversity, the mountains with full equipment (tent, sleeping bag, stove as it requires constant adjusting of the communication per etc.) is something I really enjoy. • www.nca.org.sg 16 Charity Garage Sale Collection

All proceeds go to Singaporean Charities Organized by NCA Giving back to Singapore

Please donate any item you can like (branded) clothes, toys, art shoes, household items

We will take almost anything as long as it is clean and in good working order

Collection point 42 Jalan Kampong Chantek 588618 Bukit Timah From 22-26 May Mon-Fri 8am - 8pm

Garage sale Hollandse Club Help raise money for local charities 22 Camden Park 28 May 10am - 1pm

Since 1968

www.nca.org.sg CoLUMN

Double Confirm, Double Dutch & Double Standards ... Text & photo by Jacinta Noonan ...

As an Australian, with a Dutch husband, living in Singapore, I was reflecting one lazy Sunday afternoon, on the differences between the three cultures I found myself embracing. Over a glass of wine, a Singaporean friend and I compared notes.

Double standards when going Dutch We have an expression in English “to go Dutch” meaning you split the bill. When I was single, if a guy asked me out on a date, despite my modern attitudes, I expected him to pay. However, when the bill arrived, it was culturally normal for Aussies to do this delicate dance of me offering to pay, he gallantly insists he pays, and after the appropriate amount of back and forth, I would politely accept his offer. Everyone’s pride protected.

Imagine the first time this happened to me with a Dutch guy. He No double Dutch here offered to pay, I started the social back and forth, but he said, Dutchies are sometimes perceived as being blunt, to the point “Oh, OK then” and handed me the bill! I sat there with my mouth of being rude. In fact, to this delicately, sensitive Aussie gal, the hanging open flabbergasted. I know, I know, I can hear you all frank, straightforward manner of the Dutch was a shock to the groaning. It is so typical of the English culture to beat around the system and I have the scars to prove it. In 1990, I went on my bush, saying one thing while meaning the exact opposite. first and, what I thought, successful date with a good-looking Dutchman. After a perfect evening, he pulled up in front of my A word of warning, the Singaporean male expects to pay the apartment to drop me home and, as I prepared for his kiss, he restaurant bill and would be very uncomfortable if a woman turned to me and said, “It is not necessary for us to see each tried to pay for him. other again”. WHAT!!!!! My girlfriend and I spent weeks trying to unravel this rude but brutally honest remark. We finally Double Confirm concluded we’d much rather the truth from a Dutchie than the Attitudes to time is one of those quirky things that differ lies from an Aussie who promises to call but never does. between cultures. A former Dutch colleague almost tore her hair out trying to arrange a congress in Melbourne. When an Aussie The Singaporeans on the other hand cannot offend or lose face says, “No worries, she’ll be right mate, and no probs”, do not which means communication is subtle and indirect. It takes assume an agreement was just confirmed. It made me realise immense skill to pry out of them what they really mean. A “Yes, how much I appreciated the Dutch “afspraak is afspraak”. You can, can Mam” doesn’t necessarily mean that something is book a date with a Dutchie two weeks in advance and then turn possible. Sometimes, it feels like you’re speaking double Dutch up at the agreed time. No further action required. trying to understand each other. Word of warning, never take things literally. It took me more than one wasted afternoon, waiting impatiently for a no show to learn that in Singapore, nothing is definite It’s a constant barrel of laughs straddling three cultures but I unless you double confirm. I.e. send a text the day before. Can Can Lah! •

18 19 SingaPore

Best happy hour deals in Singapore: Drink cheap at these cool bars in town

By Rob Lamers On a tight budget? Check out these affordable booze Marketing Manager at Stamford American International School specials that won’t burn a hole in your wallet

FIV五 AH Sam’s Cold Drink Stall 4 Locations: 16 Collyer Quay (Formerly Hitachi Towers), 60A 5 Changi Business Park Central 1, 25 Cuppage Road, 1 Pickering Street Headed by Sam Wong, formerly of Jigger & Pony fame, this no-frills speakeasy tucked away on the second floor of a Singapore’s first Tachinomi Izakaya inspired bar! FIV五 is shop house has a welcoming, home-y feel. Together with his Singapore’s answer to the ever-popular Izakayas in Japan. young protégés, Sam has nailed classic cocktails like the Old Modeled after the 300-Yen bars, they offer $5 specials all- Fashioned and Sazerac. day-everyday, forever! Enjoy S$10 – S$12 beers and S$12 – S$14 cocktails from Deal: $5 specials on Asahi Draught, Red & White Wines, 6pm – 10pm daily at Ah Sam’s Cold Drink Stall. This hipster Sake, Shochu, Choya, house pour spirits and even bar cocktail bar is cosy and inviting; perfect for a drink with snacks, all day, every day. your partner.

Brussels Sprouts 80 Mohamed Sultan Road (The Pier @ Robertson)

For a place named Brussels Sprouts, you’d think they’d specialise in cooking that particular vegetable but nope, their signatures are their Mussels and Belgium Beers. You can expect Belgium beers from Trappist, WIT, Lambic etc.

All week: One-For-One on Draught Beers, Cocktails and House Pour Spirits. Available daily from opening to 7pm and selected days from 9pm till closing.

20 Kinki Little Saigon Asia #02-02 Customs House, 70 Collyer Quay BLK E, , #01-02, River Valley Road,

Despite having a rooftop patio where you can gaze out Little Saigon Asia has a few Vietnamese Beers and Vietnam at Marina Bay and the CBD skyline, Kinki has a real inspired cocktails like Saigon Kick and Pho Bia (haha nice underground feel to it with graffiti on the walls, a floor one) that are bound to pique your interests. However, on mural by tattoo artist Chris Garver from Miami Ink, paper regular hours, Little Saigon Asia’s drinks may not be as lanterns emitting a soft red hue, and a modern Japanese reasonably priced as you’d like them to be. menu offering Asian-inspired cocktails and bar bites. During Happy Hour from 4pm -9pm daily, get 50% Off all Kinki caters to the thirsty with one-for-one beers and cocktails, wines by glass and draft beers (Heineken/Tiger). house pours, every day from 5pm to 8pm. Beers end up at around $8, and cocktails, $8-9.

Southbridge 80 Boat Quay, Level 5, Rooftop

Oysters and alcohol: Best. Combo. Ever. Hit up Southbridge for a stunning view of the , a marathon of umami flavours with creations like the Pearls (grilled oysters with white wine sauce and avruga caviar), lobster knuckle roll, and truffle and smoked pancetta sandwich.

Southbridge’s happy hours: on weekdays ’til 8pm, Pinnacle vodka and Sauza Silver tequila go for as low as $8, Kakubin whisky and Bombay Sapphire gin at $10, and Fürstenberg beers at $8 as well. •

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We have many great candidates who are experienced, trustworthy, with strong reference from previous employer and a proven track record. All our candidates are available for a personal interview

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21 Upcoming events

Sister Act The Wizard of Oz (by All That Jazz Dance Academy Pte Ltd)

Date : 9-21 May Date : 28 May Location : Marina Bay Sands Location : Reagan Theatre, Stamford American International School Featuring original music by 8-time Oscar winner ALAN MENKEN (Beauty and the Beast, The Little Mermaid, Little When a tornado rips through Kansas, Dorothy and her Shop of Horrors), SISTER ACT tells the story of Deloris Van dog, Toto, are whisked away in their house to the magical Cartier, a wannabe diva whose life takes a surprising turn Land of Oz. They follow the Yellow Brick Road toward the when she witnesses a crime and the cops hide her in the last Emerald City to meet the Wizard, and en route they meet a place anyone would think to look - a convent! Scarecrow, a Tin Man, and a Cowardly Lion, who together become the best of friends. The Wizard asks the group to Under the suspicious watch of Mother Superior, Deloris bring him the broom of the Wicked Witch of the West in helps her fellow sisters find their voices as she unexpectedly order to earn his help in sending Dorothy back home. Join rediscovers her own. A sparkling tribute to the universal us on our magical journey into the Land of Oz, as we meet power of friendship, SISTER ACT is reason to REJOICE! many other creatures and characters along the way to help tell our enchanted tale through different types of dance such as ballet, jazz, tap, hip hop and lyrical.

More info: www.marinabaysands.com More info: www.eventbrite.sg

Tech in Asia Sting 57th & 9th Tour

Date : 17-18 May Date : 28 May Location : Suntec City Convention Center Location : Singapore Indoor Stadium

Techie or not, this conference is designed for everyone to dive Following the recent release of Sting’s highly anticipated deeper into the tech and startup scene, as well as get up to rock/pop album “57th & 9th” and with sold out concerts speed on the latest updates and trends. What does building a already confirmed in North America and Europe, startup feel like? If the thought of meeting the brains behind Cherrytree Management and Live Nation Lushington are the region’s most promising and dynamic startups excites proud to announce the return of English singer-songwriter you, then Bootstrap Alley’s where you want to be. STING.

More info: www.techinasia.com More info: www.livenationlushington.net

22 By Rob Lamers SMU/ADB Master Class Marketing Manager at Stamford American International School 25 May 2017, Thursday

Masterclass in International Conflict Dragon Boat Festival Resolution

Date : 30th May Time : 5:30 – 9pm Location : Bedok Reservoir, River Gardens by Venue : Administration Building, the Bay Marina Channel Singapore Management University Thumping drumbeats and delicious dumplings are the 81 Victoria Street, Singapore 188065 exciting ingredients that make the Dragon Boat Festival Minimising loss and maximising gain when businesses a sizzler of a festival in Singapore. run into trouble. Dragon Boat Festival represents the culture of the people Save the date. More details will follow! and the Chinese influence over Singapore’s past. As over seventy percent of the population in Singapore is Chinese, it is no wonder most Chinese festivals are celebrated with EDITORIAL COMMITTEE much passion in this country. Daniël Heerkens, Chief Editor Rob Lamers & Alexis van dam, Editors More info: www.yoursingapore.com Jacinta Noonan

Email [email protected]

Ultra Singapore General Manager ADB Wenneke Vrugt-Repko ADB Singapore, c/o 541 Orchard Road #13-01 Liat Towers, Singapore 238881 [email protected], www.adb.org.sg

Basic Design Edenspiekermann Pte Ltd

DESIGN & PrePress Jennifer Phua

PRINT production Words Worth Media Management Pte Ltd Date : 10 & 11 June © ADB Location : Bayfront Avenue (UEN: S90SS0097D). The contents of this magazine are partly based on information received from third parties Join in the euphoria at Ultra Singapore, Singapore’s and do not necessarily reflect the opinion of ADB. biggest electronic dance music festival. Boasting The Committee does not take responsibility electronica’s biggest names like our Dutch DJ’s for the correctness of the articles. MCI (P) 148/05/2015 Tiësto, Hardwell, Don Diablo and Nicky Romero, the outdoor, two-day, three-stage event does not go easy on introducing novice ears to EDM - get ready to be reeled in, lifted high and plunged low into the best of All new ADB members thumping beats and pulsing synths. Hubertus Elffers Shutdown Control BV Robin de Rooij SKIM Joost van Doodewaard On Site Alignment Pte Ltd More info: https://ultrasingapore.com Evelyn Mouthaan Self-employed David Liendgens Mercuri Urval

23 ADB Events

Company visit: Booking.com

On 13 February 2017, the ADB members were invited to the premises of Booking.com for a ...... Photos by Els van Poucke company visit. The evening started with breath- taking views, beer and wine followed by a very By Els van Poucke Attorney-at-law interesting presentation. Luther LLP

Mrs. Marielle van Gorp (Regional Director BookingSuite) partners, as well as the tools Booking.com are using and Mr. John Traas (Regional Director South Asia to analyse customer preferences and how to constantly Pacific) were our hosts and speakers for the event. They improve and innovate its services. After the Q&A session kicked off with the history of Booking.com. It all started and the guided tour, we were offered delicious food and in 1996, when Booking.nl was founded in Enschede drinks, the perfect ingredients for some networking. (The Netherlands). The first booking was made in 1997 and the first employee was hired in 1998. It became a success ADB would like to thank Booking.com, and especially story. In 2005 Booking.com joined the Priceline Group. Marielle and John, who made this a memorable and wonderful event. • Today 1,200,000 room nights are booked every 24 hours, 184 offices are situated in over 70 countries and more than 14,000 employees are employed.

Marielle and John shared the values of the company during their presentation. “Keep the customer at the centre of everything you do”; “Work together to achieve success, but always challenge one another to improve”, “Get things done today, tomorrow will bring fresh challenges” are some examples of these values.

Furthermore, we received some deeper insight into the collaboration between Booking.com and its professional

24 New possibilities, here I come

You’ve surveyed the business market and staked your new territory. With a solid foundation in more than 40 countries, ING can help you break new ground. ING is your guide to connect around the world.

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World, here I come

Wholesale Banking Making the purest water drinkable since 1873

001772 HKN_ADB Mag_FPFC.indd 1 3/16/12 12:44 PM