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The Mines and Money Hong Kong Conference 2014 brought together leading mining entrepreneurs, investment analysts and industry professionals to share insights on mining investment opportunities around the globe with a focus on Asia. This video series showcases some of the key speakers’ insights on the above topics and will be released separately over the coming few weeks.
In the first part of this series, we interview James Rickard, Managing Director of Tangent Capital. James explains his views on Asia’s commodity market in 2014. He also discusses the role of gold as an investment in the next 10 years and how there is an increasing appetite of gold equity in China.
In the second part of this series, Michael Belkin, Author of The Belkin Report shares his views on the mining outlook in Asia for 2014 and asset allocation strategies for the year. He also advises whether to invest in metals and mining stocks.
Experts interviewed include:
- James Rickards, Managing Director of Tangent Capital
- Michael Belkin, Author of Belkin Report
- Jacky Chan, Chairman and CEO of Dragon Global Group
- Tom Butler, Manager for Global Mining, International Finance Corporation (IFC)
- Brent Cook, Exploration Analyst from Exploration Insights
James Rickards – Commodity Market Outlook
James Rickards – Monetary Market Outlook
Stay tuned to our Twitter to receive the latest updates from Bizscope Asia
This time Bizscope Asia talks to Caroline Mak, Chairman of Hong Kong Retail Management Association and Group Director of Health & Beauty, The Dairy Farm Group. Caroline shares her insights on Hong Kong’s evolving retail landscape and the opportunities it presents. She also explains the role of social media in the retail landscape highlighting how we must have the ability to empower and embrace it.
Dr. Allan Zeman, Chairman of Lan Kwai Fong Holdings shares his insights on Hong Kong’s changing landscape and relations with China. He explains where Hong Kong is headed in the next 10 – 20 years stressing the importance of innovation to remain competitive. Allan also provides advice and his secret to success.
“The secret of business is to know something that nobody else knows”
Professor Y.C. Richard Wong – Professor of Economics and Philip Wong Kennedy Wong Professor in Political Economy – The University of Hong Kong, discusses the evolution of Hong Kong’s economy and the opportunities it presents to businesses. Professor Wong also shares his views on the development of Qianhai and how this will impact Hong Kong’s economy.
Liu Changle, Chairman and CEO of Phoenix Satellite Television Holdings Limited, shares his insights on the impact of social media and internet to the traditional media industry as well as the dynamics and trends of the whole sector.
Welcome to Bizscope Asia where we will be sharing the most trending and topical issues surrounding the business landscape across the region. Bizscope Asia will host a series of blogs and video interviews with the leading and most influential business leaders in Asia, digging their personal insights and opinions on the most pressing issues going on in the region. Remember to follow us on Twitter for the most to date business news and opinion in Asia.
Exciting news arrived for China’s health care system with the recent release of the “Healthy China 2020” report. The report, which took 400 experts over three years to develop, was led by China’s Ministry of Health (MOH) and provides a roadmap for China to overcome some of the key health challenges facing the country. Goals to be achieved by 2020 include, for example, establishing a system that ensures basic health care for all; improving key health indicators such as life expectancy (increase to 77 years); and curbing factors that lead to chronic diseases.
While China has made exceptional strides in healthcare (in the early 1970s, life expectancy was less than 62 years — today, life expectancy is near 75 years and rising), challenges remain. Access to good health care is difficult, with underpaid doctors, high drug costs and long lines at hospitals. In addition, as China develops, lifestyle-related diseases are increasing, with 17 million new chronic disease patients each year. China’s rapidly aging population presents another key challenge as the share of the population aged 65 years and older will increase from 8 percent today to about 14 percent in 2025.
The “Healthy China” report outlines a total of RMB 400 billion (USD 63 billion) in funding to be allocated across seven key health care projects, including infrastructure, supplies, training, technology, and more:
The report also calls for increasing health sector expenditures to 6.5%-7% of China’s Gross Domestic Product (GDP). While national statistics show that public health expenditures increased to more than 5% of GDP by 2009 (from less than 2.5 percent of GDP in the early 1970s), this number fell to 4.71% in 2011, and remains far behind the of 8.1% average of developed economies.
Yet, with regards to the highly-publicized RMB 400 billion figure, outreach by APCO’s health care team leads us to the conclusion that the figure is only speculative and based upon adding up each of the individual requests made within the seven key projects. Regardless, the report is likely to provide a much-needed blueprint for China’s central, provincial, and municipal decision makers for developing and executing specific policies across the health care spectrum.
A corporate crisis can strike at any moment, in any location. Indeed, a crisis relates to an incident, human or natural, that requires urgent attention or action to protect life, property, environment or reputation.
In the age of digital media it can be business as usual one day and, without prior warning, the following day a corporate crisis can be in full swing. With an almost immediate news cycle these days, increased scrutiny and the high expectations of consumers and company stakeholders alike, such a crisis can transform a company’s reputation overnight.
Every organisation, irrespective of where it is situated is different and faces unique risks to its ability to function. How well a business emerges from a corporate crisis is not related to where it is located on the map, but is usually reflective of preparations and the execution of a well thought out crisis management plan.
When developing a crisis and recovery management plan in the Asia Pacific region, there are four fundamental phases to consider:
1) Planning: There is no excuse not to and the rewards are significant
Some markets are inherently riskier than others, and conducting a crisis management audit of each site in the Asia Pacific region is the first port of call to assess the organisation’s ability to respond to and recover from a crisis. For example, it would seem prudent to consider a continuity plan in the event of an earthquake for Japanese operations. Equally, operations that include manufacturing capabilities in India will have a very different risk profile to office based sales and marketing teams in Thailand.
Once the risk profile of a site is understood, effective crisis and recovery management requires a plan.
The plan is a ‘living’ document, meaning it should be regularly reviewed and updated and include as a minimum:
• Instructions for activating the plan effectively;
• Contact details for a crisis team and crisis media spokesperson;
• Contingencies in the event members of the team are incapacitated;
• The roles and responsibilities for each crisis team member;
• Predetermined performance benchmarks for external support services such as a call centre or distribution centre
• Company policies and instructions to manage monitoring tools, media and local online properties; and
• Specific market considerations such as relevant regulatory requirements.
When developing your plan and nominating your crisis team and spokespeople in each market, remember to consider language as different audiences, both internal and external, may have varying requirements.
2) Training: Putting the planning into practice
Now you have a suitable crisis and recovery management plan established in all of your Asia Pacific sites, it is important to ensure those with responsibilities identified in that plan are capable of performing their duties. Where necessary incorporate regular training sessions to fill any capability gaps. These sessions should be tailored for each country to address local risk factors, for example local regulatory procedures, social media protocols, compliance issues and safety procedures. The media is also unique in every market, so it makes sense to ensure the local spokesperson is trained to get your organisation’s key messages across effectively.
3) Exercise: Test and review your processes
Each site’s ability to respond to a crisis situation should be regularly tested and reviewed. The organisation should assess performance criteria for incident preparedness and achieving operational continuity at each site and tailor an appropriate management system for it.
One way to do this is to facilitate a simulation exercise, which is an incredibly effective method to test how things will be managed in a real life situation. Depending on your organisation’s size and budget, simulations can be desktop exercises or full-scale emergency scenarios in conjunction with local emergency services. Each simulation should involve a typical local scenario based on the risk profile of the site. As language, operational procedures and regulatory requirements will vary from market to market, it is important to ensure each simulation is tailored accordingly. This will add to cost, but it will ensure a realistic simulation and an effective outcome in terms of preparedness.
4) Managing the crisis: As it happens
Once the crisis and continuity plan is activated, it is up to the crisis team leader to decide the extent to which the crisis team needs to meet and where. When the crisis is underway, there are four key stages:
1) Information gathering and assessing the crisis situation is the first phase. This intelligence is needed to evaluate the impact of what has happened and coordinate next steps appropriately.
2) Decision making is the second stage about how the issue will be handled, what key actions need to be taken and how the information is going to be communicated both internally and externally.
3) Communicating crisis specific messages for internal and external stakeholders is the next phase and when doing so, it is important to ensure that all messaging that is communicated is clear and concise.
4) Monitoring is a fundamental component of crisis management. You may want to consider activating monitoring tools and specialists to observe media and stakeholder discussions about the issue and evaluate what impact the crisis has had on your organisation’s corporate reputation.
It would be naïve to think that a crisis will not happen to you or your organisation and it is important to remember that a crisis is not over until you decide it’s over. Once the issue is underway you will need to assess how it impacting each country in the region, as again it will vary. The most important consideration is to be able to evaluate how each market has managed the issue and to feel confident that it was done so with the highest level of integrity.