CONNECTING BUSINESSES - E-COMMERCE AND THE DIGITAL ECONOMY 2017 / 2018
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E-COMMERCE AND
THE DIGITAL ECONOMY
2017 / 2018
DEC/JAN
CONNECTING BUSINESSES
ACROSS ASIA AND BEYOND
anz.com/institutional
2 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
A MESSAGE FROM THE
PRESIDENT
Greetings! BOARD MEMBERS
Ian Cummin
How quickly things change! If I gave someone a digital response a decade ago it would have roughly PRESIDENT
translated as “request declined!”. Today the term “digital response” has a very different meaning. BlueScope
Adam Lyle
This edition of ‘Access Asia’ covers e-commerce and the digital economy, with a focus on the ASEAN region.
VICE PRESIDENT
The theme is topical given Singapore’s focus on e-commerce and the digital economy when it takes on
Padang & Co.
the ASEAN Chairmanship in 2018. In this edition you will read about the digital economy in ASEAN and
the significant opportunities that will arise from the region’s growing connectivity, emerging middle class,
John Dick
and increasing consumer demand. Also inside is a snapshot of digital connectivity in Australia, which is an
HONORARY SECRETARY
interesting contrast to the ASEAN region! Dentons Rodyk
Executive Chairman of Padang & Co, and AustCham Vice President Adam Lyle shares his views on the Sean Straton
challenges, opportunities and the future of e-commerce in ASEAN, which is home to the fastest growing HONORARY TREASURER
internet region in the world. There are several Australian companies that have already taken advantage UBS
of digital transformation and innovation in ASEAN, including Telstra, CEC Systems and Zed Technologies.
Enclosed in this edition are case studies on these three companies. Law firm Dentons Rodyk recently Guy Scott
presented a fascinating business briefing to AustCham members on e-commerce, and has written an Cumming Corporation
informative article about challenges and innovations relating to intelligent investment in an e-commerce
company. Nigel Cummings
Sliding Doors Entertainment
You will also read an overview of the recently upgraded Singapore-Australia Free Trade Agreement (SAFTA) Philip Forrest
which came into force on 1 December. The upgraded SAFTA will make it easier for individuals and companies Honorary Life Member
to conduct business between both countries. I am delighted to see a resurgence of interest in our Chamber
– almost 200 new members so far this year. I’m hoping to see many new members at our signature event Freya Hone
and a highlight of Singapore’s social calendar on Saturday 27th January – the ANZ Australia Day Ball. Don’t Commonwealth Bank of Australia
miss this one, time’s running out so book your tickets.
Benjamin Tan
Qantas Airways
But wait….. there’s more! Our major business events program for 2018 kicks off with the Honourable
Christopher Pyne, Minister for Defence Industry (and the keeper of truck loads of money to significantly
Derek MacKenzie
upgrade Australia’s defence capability). Minister Pyne will join us for lunch on Thursday 18th January. If you
designphase dba
want to learn something about the opportunities for your business, buy a ticket.
David Campbell
In February we welcome Alan Joyce, CEO of Qantas – an AustCham member and Platinum Sponsor. Lunch Australian Trade and Investment
on the sixth of February. Save the date. Finally, to you and your family, partners and friends, from the Board Commission Singapore
and Staff here at AustCham, have a great Festive Season! We’ll see you in the New Year.
Fraser Thompson
AlphaBeta
Ian Cummin
President
Annette Tilbrook
AT Asia Advisory Pte Ltd
PLATINUM SPONSORS SILVER SPONSORS BRONZE SPONSORS
A MESSAGE FROM THE
ACTING EXECUTIVE
DIRECTOR
CONTENTS
6 INNOVATION & DIGITAL
TRANSFORMATION IN ASEAN
Dear members,
8 SINGAPORE IS ASEAN'S
E-COMMERCE LEADER, BUT
Welcome to the December / January edition of Access Asia magazine.
CHANGE IS ON THE WAY
This edition covers e-commerce and the digital economy, with a focus on the ASEAN region. E-commerce
and the digital economy are topical, given Singapore will have a focus on these areas during their 2018 9 CHALLENGES TO ASEAN
E-COMMERCE
ASEAN Chairmanship.
Inside this edition, you will learn more about increased digital connectivity across the ASEAN region, as 10 SECURING BUSINESS FOR
written by AustCham Vice-President and Chairman of Padang & Co, Adam Lyle. Along with increased THE FUTURE
connectivity across the region will come many opportunities, as well as challenges, for businesses
seeking to take advantage of this growing area. There are many Australian businesses achieving
success across the ASEAN region already, and we have profiled three of them; Telstra, CEC Systems, 12 CASE STUDIES:
INNOVATION & DIGITAL
and Zed Technologies. TRANSFORMATION
Law firm Dentons Rodyk shares their expertise in regulatory matters and 'Investing intelligently in an
e-commerce company'. International moving company Allied Pickfords also shares how the use of 14 THE ROLE OF DIGITAL
TECHNOLOGY IN MOBILITY
technology has transformed the process of moving, which has certainly changed significantly with the
adoption of digital tools.
15 AUSTRALIA'S DIGITAL
READINESS
If you've not yet read about the 1 December upgrade to the Singapore-Australia Free Trade Agreement,
you may be interested in reading the overview enclosed in this issue, which covers a range of areas
such as mobility of business persons, government procurement, recognition of university degrees, and 16 INVESTING INTELLIGENTLY
IN AN E-COMMERCE
so on. Your business may benefit from these changes, so take a look at the dfat.gov.au website for COMPANY: CHALLENGES &
further details. POTENTIAL INNOVATIONS
As we have now entered the new year, we are busy preparing for our first business event of the year.
This will be with the Australian Minister for Defence Industry, the Hon. Christopher Pyne MP. This will 18 SINGAPORE - AUSTRALIA
FREE TRADE AGREEMENT
be followed shortly after by the ANZ Australia Day Ball, which is the biggest and best way to celebrate
Australia Day in Singapore! In February, we will host a lunch with Qantas CEO Alan Joyce, which we
hope to see you at.
20 OUT & ABOUT
My time at AustCham will come to an end on 31 January, as Kate Baldock returns. It has been a pleasure
to get to many of you, and all the best for 2018.
24 NEW MEMBERS
Elissa Maloney
Acting Executive Director
28 MEMBERSHIP CARD
OFFERS
30 NEWSFLASH
INNOVATION & DIGITAL TRANSFORMATION IN ASEAN
E-ASEAN
Framework
Agreement
Regional
Cooperation
ASEAN
AEC
AEC ICT 2025
MASTER PLAN BLUEPRINT
2020
2020
ASEAN’S
MASTER An accessible, inclusive and affordable digital
economy — Information and Communications
Deployment of next-generation ICT as an
enabler of growth.
PLAN Technology (ICT) will be used to support digital
inclusion of communities across the region.
6 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
INNOVATION & DIGITAL
TRANSFORMATION IN
ASEAN
Since its founding, ASEAN’s share of global gross domestic product (GDP) has nearly
doubled from 3.3 percent in 1967, to 6.2 percent in 2016. The collective group of
ten ASEAN member states represents the sixth largest economy in the world, with a
combined GDP of US$2.55 trillion. The ASEAN region is home to 636 million people,
making it the third largest population in the world.
ASEAN’s citizens are predominantly young, with 70% under the age of 40. They are
AEC increasingly middle class, dynamic and tech-savvy. Southeast Asia ranks third in the
2015 global number of mobile subscribers and fourth in internet users. This is growing at a
Blueprint rapid rate, with nearly four million new users to come online every month for the next
five years. This will establish a base of 480 million by 2020 (up from 260 million now).
A 2016 study by Google and Temasek suggested that a collective group of six ASEAN
economies (Indonesia, Malaysia, Singapore, the Philippines, Thailand and Vietnam) will
become the fastest growing internet region in the world.
Despite the increased connectivity across ASEAN, consumers are not spending much
online. However, this will increase in the next decade or so, driven by consumers
demand for electronics, clothing, household goods, groceries, and increased travel
within the region. By 2025, the region is expected to become one of the top five digital
economies globally. All economies in ASEAN stand to benefit from this, particularly
Indonesia and Thailand.
Businesses positioned within ASEAN will be well placed to take advantage of
opportunities arising from the region's increased connectivity and consumer demand.
Many Australian businesses are already successfully doing business across the region.
To capitalise on the benefits of digital transformation, ASEAN governments are
investing heavily to create a digitally-enabled region that is secure, sustainable and
transformative. ASEAN ICT Master Plan 2020 will support this transformation and
enable businesses to operate more effectively and efficiently across ASEAN.
Sustainable development through smart city ICT supporting a single regional market to Secure digital marketplaces and safe online
technologies. facilitate integration and lower business costs. communities to facilitate and promote regional
digital trade.
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 7
SINGAPORE IS ASEAN’S E-COMMERCE
LEADER, BUT CHANGE IS ON THE WAY
ADAM LYLE
VICE PRESIDENT OF AUSTCHAM
EXECUTIVE CHAIRMAN OF PADANG & CO PTE LTD
Commentary on the state of business often borrows Charles Already, users in Southeast Asia are incredibly mobile friendly,
Dicken’s famous opening, “It was the best of times, it was the with 90 percent accessing the internet by smartphones thanks
worst of times”. Regarding e-commerce in ASEAN, it is only to their increasing affordability. A ‘leapfrogging’ ability has been
the best of times as we look to 2018 and beyond. As Singapore demonstrated across the region with many skipping desktops/
takes over Chair of ASEAN in 2018, there will be a focus on laptops as their connected device and opting for smartphones
strengthening e-commerce and the digital economy across the instead. When international mobile network operators arrived in
region. Myanmar in 2014, they helped to drive the fastest rollout of mobile
phones in history; by mid-2015, around 30 million sim cards were in
According to a 2016 report by Google and Temasek, e-commerce
use. In addition, users across the region utilise social networks more
still accounts for a small percentage of overall retail sales, which in
than the west to inform their purchases and transact.
2016 represented $5.5 billion. By 2025 it is predicted to hit $88 billion
which will represent 6 percent of all retail sales. Online transactions are driven by a share of search – how consumers
find you – and how the big brands learn more about how consumers
Singapore currently leads the region, supported by its high
search and buy so they better understand what they want, when,
internet speed and penetration, logistics expertise and increasing
and how they want it. Given the diversity of the cultures and different
cyber security focus. Some wonder why it is not higher given the
levels of maturity across Southeast Asia, superior data analytics
infrastructure and high penetration of credit cards. Despite Orchard
capabilities will drive leadership positions.
Road facing challenges, excursions to the mall are still an important
part of Singapore life. As delivery services continue to improve and
artificial intelligence better predicts what we want, online sales are "Given the diversity of the cultures and different levels
predicted to increase. Indonesia is predicted to take the lead by 2025 of maturity across Southeast Asia, superior data
with around 8 percent of a significantly larger market. analytics capabilities will drive leadership positions."
Singapore’s market has seen a lot of competition in this space, with
Singapore’s e-commerce and overall digitisation experience will
Alibaba investing a further US$1 billion in Lazada to increase its
be highly relevant as the incoming Chair of ASEAN in 2018, with
ownership to 83 percent. The long-awaited arrival of Amazon Prime
dual themes of 'resilience' and 'innovation'. Two of the focus areas
came earlier this year – the ultimate compliment for Singapore –
outlined by Foreign Minister Dr Vivian Balakrishnan recently include
ahead of expected regional expansion.
the establishment of an ASEAN Smart Cities Network to connect
Southeast Asia’s 260 million internet users make it the fourth people and economies seamlessly, with obvious benefits for
largest internet market in the world. The region is adding users at innovation, and a focus on cybersecurity, because without it smart
a staggering 3.8 million per month making it the fastest growing cities and e-commerce will not thrive.
market in the world.
8 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
CHALLENGES TO
ASEAN E-COMMERCE
There are several key factors which have been identified as challenges to
e-commerce growth in the ASEAN region. However, the solutions to these
problems provide enormous opportunities.
BY ADAM LYLE
INTERNET PAYMENTS
Low internet penetration rates in some countries present an obvious The lack of online payment methods presents a big barrier;
barrier. Although Thailand, Singapore and Malaysia are all around 80 particularly in countries like Indonesia where only 30 percent of the
percent penetration, Cambodia, Myanmar and Laos still sit below 30 population have a bank account and just 5 percent have credit cards.
percent. However, the entire region is set for 14% compound annual Various e-wallet solutions are springing up but a clear market leader
growth in internet users between 2015 and 2020, with Indonesia’s is yet to emerge.
predicted growth rate of 19 percent making it the fastest-growing
nation of internet users in the world. In comparison, China, the Although many e-commerce sites do offer cash-on-delivery as a
world’s largest e-commerce market, will grow at around 4 percent. payment option, this increases risk and operating costs for those
companies. It also creates further complications with the delivery
With the exception of Singapore, ASEAN countries also have process.
notoriously slow internet speeds; another factor which hardly helps
the online shopping experience. While many governments are
working to improve this, there are certain logistical barriers which
may make progress just as slow as page load times.
CONSUMER TRUST
LOGISTICS Consumers in Southeast Asia have greater-than-average concerns
when it comes to sharing financial data online, and this is made worse
by high levels of fraud – particularly in Malaysia, the Philippines and
Significant infrastructure investment will be required to bring road Indonesia.
and rail networks in many ASEAN countries up to the standards
required for efficient delivery of online orders.
Indonesia and the Philippines face an additional challenge on this
front since many deliveries have to be transported between islands.
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 9
SECURING BUSINESS
FOR THE FUTURE
BY ADAM LYLE
As internet speeds and coverage increase along with with resultant benefits for all citizens in terms of increased
smartphone ownership, so will the desire to purchase. The availability of services.
digitisation of ASEAN economies will enable improved
opportunities for a new generation of digital focused Building and improving digital infrastructure, expanding
employees. Yes, automation will replace routine jobs, but new e-commerce is just the beginning.
jobs will be created.
Paraphrasing Singaporean Futurist Charlie Ang, "applying a
I firmly believe that the needs of cyber security will enable 3.0 Mindset in a linear fashion to predict Industry 4.0 just won’t
“cyber diplomacy” across ASEAN for which Australia and cut it. We have to be more disruptive in our view of what the
Singapore are well placed given both their experience and future might look like and develop the appropriate strategies
commitment domestically and internationally as witnessed to take advantage of this new world." Yes, there is a lot of
by the Singapore / Australia Memorandum of Understanding uncertainty, but it is up to us to ensure digital transformation
on cybersecurity cooperation signed during Prime Minister is inclusive and comprehensive in application so that benefits
Turnbull’s visit in 2017. are shared by all citizens and business alike.
When looking for the opportunities for Australian business The ASEAN ICT Plan 2020 and ASEAN Economic Community
with the growth of e-commerce across the region we should Blueprint 2025 are in place. Singapore is committed “to tap
remember the early days of the Australian gold rush. It wasn’t on opportunities from global megatrends, such as the digital
the miners who always made the money, but those that economy and trade facilitation, to help businesses expand
supplied them with food and basic supplies to ply their trade. their economic space more effectively” as Minister Lim Hng
Kiang explained at the Singapore Business Federation's
The battle ground for e-commerce will be fought by the current ASEAN Conference 2017 earlier this year.
local incumbents such as Lazada, Tokopedia and Alibaba in its
various guises and the international players such as Amazon. This must all be underpinned by digital standards and
How this will play out is not easy to predict. Digitisation will cybersecurity protocols to manage and safeguard the
provide a substantial “fly-wheel” effect whereby increased explosive increased volume of traffic.
speeds and coverage, access to payment options and
improved last mile delivery will encourage purchase which in For Singapore and Australia with their focus on the
turn will develop opportunities – data analysis, e-commerce Comprehensive Strategic Partnership in 2018, there are
management, infrastructure rollout, cyber education as well significant opportunities to support, contribute and realise
as many others. opportunities from the digital transformation of ASEAN and
the growth in e-commerce. Indeed, this will be the “best of
Add to the mix the Regional Comprehensive Economic times”.
Partnership unlocking cross border restrictions, smoothing
trade and e–commerce and digital transformation, which will
indeed drive tremendous economic growth for all businesses.
Another benefit not often thought about in the context
of e-commerce is improved governance. Digitisation will
also provide a level of accountability and traceability that
will provide transparency, therefore enabling improved
governance and providing tools for all governments to reduce
corruption – one of the great impediments in the region.
Efficiency and reduction of friction in transactions will enable
committed governments to reduce corruption and bribery
" WE HAVE TO BE MORE DISRUPTIVE IN OUR VIEW OF WHAT THE FUTURE MIGHT LOOK LIKE AND
DEVELOP THE APPROPRIATE STRATEGIES TO TAKE ADVANTAGE OF THIS NEW WORLD "
10 ACCESSASIA | WWW.AUSTCHAM.ORG.SGDIGITAL ECONOMY & E-COMMERCE
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LEARNING THROUGH
MOVEMENT
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purpose: your child’s development. And the kids love them,
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development integrating numeracy, literacy and language
with physical play.
Suzuki Violin is a world renowned specialist music curriculum
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The best start to your child’s lifetime of learning.
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ACCESSASIA | WWW.AUSTCHAM.ORG.SG 11INNOVATION & DIGITAL TRANSFORMATION
INNOVATION
& DIGITAL
TRANSFORMATION
TELSTRA
JOINT VENTURE UNLOCKING INDONESIA’S MARKET
POTENTIAL FOR TELSTRA
With more than 30 years’ experience in Southeast Asia, Telstra is
building a formidable portfolio of acquisitions, joint ventures and
accelerators in the region.
Telstra’s services to business and government clients in ASEAN range
from voice and data to network management, security and unified
communications.
Indonesia is a priority market for the Australian telecommunications
company. When considering how to access the Indonesian market,
Telstra devised a two-pronged strategy: work with a local partner
and focus on enterprise solutions for Indonesian corporate accounts.
In 2014, Telkom Indonesia and Telstra agreed to create the PT
Teltranet Aplikasi Solusi (telkomtelstra) joint venture. By early
September 2017, telkomtelstra had employed 134 team members
– including 15 from Telkom Indonesia and 10 from Telstra and the
remainder local hires by the joint venture.
Erik Meijer, telkomtelstra President Director and Telstra Country
Managing Director, Indonesia, describes Indonesia’s enterprise
services market as ‘very big and untapped’.
telkomtelstra is also taking a keen interest in discussions between
Indonesia and Australia on cyber security cooperation, as well
as market opportunities greater coordination between the two
countries could present.
Source: AustradeZED TECHNOLOGIES CEC SYSTEMS
TO ASEAN AND BEYOND: MEDTECH SCALEUP GOES CEC SYSTEMS COLLABORATES ON COLLAPSIBLE
GLOBAL CONTAINERS
Zed Technologies was founded in 2012 by Ross Wright and Ronald Australian industrial technology developer CEC Systems designed
Li. The medtech scaleup develops software, apps and workflow COLLAPSECON®, the world’s first semi-automated collapsible
systems for storing, managing and evaluating patients’ medical shipping container.
images, including X-rays, MRIs, ultrasounds and other scans.
COLLAPSECON enables four empty shipping container units to
When the Melbourne-based scaleup began planning its expansion be collapsed and combined to form a single container to reduce
into Southeast Asia, it looked for a way to enter ASEAN markets. handling, storage and transportation costs.
‘That was when Austrade and the Landing Pads program came to Following CEC Systems’ acceptance into the Australian Government’s
our attention,’ says Wright. Singapore Landing Pad, the company announced an exciting
new collaboration with the Singapore Institute of Manufacturing
In early 2017, Zed Technologies arrived in Singapore. Technology (SIMTech), a research institute of the Singapore
Government’s Agency for Science, Technology and Research.
According to Wright, Zed Technologies benefited from expert
guidance on growing its customer base, introductions to local CEC Systems’ collaboration with SIMTech will seek to optimise the
contacts and entry into key decision-making networks, not to COLLAPSECON design and investigate alternative manufacturing
mention a fully paid office space for 90 days. processes such as environmentally friendly, cost-effective and
lightweight materials.
Since their time at the Landing Pad, Zed Technologies have also
visited Indonesia, Malaysia and Vietnam, helping build a promising
pipeline for the future.
Source: Austrade Source: Austrade
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 13INSIGHTS
THE ROLE OF DIGITAL
TECHNOLOGY IN MOBILITY
ALLIED PICKFORDS
THE ROLE OF DIGITAL TECHNLOGY IN MOBILITY via email; we produce paperless quotes, which are also sent by
One hundred years ago, the logistics of moving home would have email in order to be more environmentally friendly.”
most likely involved arranging a horse and cart then preparing a
steamship manifest for a journey across the oceans. These days, All presentations that detail what each move will entail are
international moving logistics are managed by the turning on of demonstrated directly to the customer on iPads at any location.
an iPad and the touch of a screen.
“With our corporate clients, we use electronic RFPs. This way,
Established more than 400 years ago, Allied Pickfords’ (a SIRVA clients can provide us with all information electronically when
company) international moving business has seen many they have assignees to move around the world. We have
technological advancements come and go. Computers and data fast access to any necessary requirements, special requests,
systems certainly make keeping track of items and itineraries itineraries and so forth.”
much easier, however, the latest technology is aiming to make
moving easier than ever. TECHNOLOGY PLAYS ITS PART IN MOVING
Allied Pickfords has proven its dedication to advancements in
The role of digital technology has played a massive part in technology by developing an app that automatically performs
helping to reduce costs and lessen the administrative burden in-home surveys. This helps reduce the risk of items being missed
of relocating by streamlining workflows into one centralised as they are entered on the spot. Outmoded transportation
platform. manifests may have been jotted down on paper then uploaded
later onto a computer, with plenty of room for error.
Mobile apps mean that Allied Pickfords’ staff can access necessary
information whenever and wherever they need. Detailed analysis We have our own app, which automatically calculates the
and reporting help the business stay abreast of market trends volume of goods to be moved,” says the representative. “This
and customer interaction with the brand. means, when we conduct in-home surveys to identify any special
requirements for the volume of goods that need to be moved,
such as unusual sizes or extra-valuable goods, they’re all easily
performed on iPads.”
Allied Pickfords uses GlobalCom online shipping monitoring
for real-time location tracking. The system also provides arrival
updates and allows changes to contact information. This online
tracking system helps alleviate stress, knowing exactly where
each cargo shipment is located at every moment of the day and
night.
LOOKING FORWARD TO 2018
Video surveying is a technology that is now available to help
with in-home surveys.
“We are currently trialling video surveying for our moving
business,” says the representative.
Allied Pickfords uses strict security and control certifications
to ensure data storage is compliant via corporate operating “What that means is that if for some reason we can’t get to a
systems. The company maintains the highest level of security for location, we can use video chat in the same way that something
both stored data and communication transmissions to maintain like FaceTime or Skype operates to assess the volume of goods.
the safety of company and customer information. We talk the customer through the property to identify what
needs to be moved, then the video app tallies it all together.”
KEEPING IT GREEN
“To be greener and help reduce our carbon footprint, Allied Technology allows more freedom and control of systems
Pickfords’ Singapore branch no longer produces physical and leaves less room for human error. As each year passes,
brochures,” says a company representative. Allied Pickfords aligns itself with cutting edge technological
developments in order to stay ahead of competitors and be able
“All our company brochures are downloadable PDFs. We also to deliver a premium product to clients all over the world.
encourage our clients and staff to engage in all correspondence
14 ACCESSASIA | WWW.AUSTCHAM.ORG.SGAUSTRALIA'S DIGITAL
READINESS
CYBER SECURITY 94% of adults in Australia used the internet in
2016 to...
• Conduct banking
• Pay bills
• Buy/sell goods or services
CYBER SECURITY 69% of Australians are more concerned
INDUSTRY about their online privacy than they were
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ACCESSASIA | WWW.AUSTCHAM.ORG.SG 15
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3EAgovernment0Development0Index.0Source:0UN,02016.0INVESTING INTELLIGENTLY IN AN
E-COMMERCE COMPANY:
CHALLENGES & POTENTIAL INNOVATIONS
By 2027, Singapore’s e-commerce market is predicted to grow
five-fold – to at least US$5.4 billion (S$7.5 billion), according to
a study by Google and Temasek Holdings. E-commerce markets
GERALD SINGHAM in other parts of Asia are also poised to grow significantly – with
DEPUTY MANAGING PARTNER many Asian businesses venturing out into markets of developed
DENTONS RODYK
nations with sophisticated data privacy and consumer laws.
Investors and entrepreneurs are faced with unprecedented opportunities
– as well as challenges related to their e-commerce venture, including
understanding:
GILBERT LEONG
INTELLECTUAL PROPERTY
& TECHNOLOGY • Which factors may impact the value of an e-commerce company, especially
DENTONS RODYK when business models defy traditional valuation methods?
• How can e-commerce companies remain compliant with laws and regulations
from each of the countries in which it operates?
• As more participants crowd the e-commerce market, how can e-commerce
S. SIVANESAN
SENIOR PARTNER CORPORATE businesses innovate to continue to provide value and capture opportunities?
DENTONS RODYK
E-commerce remains a novel area – both in business and law – but with the
right guidance, there is no limit to the creative solutions that may abound.
FACTORS IMPACTING THE VALUE OF AN E-COMMERCE VENTURE
E-commerce businesses can have valuations which far exceed those of
traditional companies within the same industry. For example, Uber, the online
transportation network company founded in 2009 is currently valued at
approximately US$68 billion – around US$20 billion higher than auto giant
General Motors, which has been in existence since 1908. And Uber does not
even manufacture cars!
Rather than traditional metrics such as historical profits and logistics costs –
e-commerce companies are usually valued based on factors like sales, number
of transactions, active users, “hits”, the future state of the industry, potential
market size, expected growth, and sometimes an extremely optimistic revenue
growth.
However, e-commerce ventures are complex businesses to run – generally
capital-intensive, with low profit margins – and entail compliance with laws
from various jurisdictions, the handling of sensitive consumer information,
and a consideration of how the venture impacts market competition in the
relevant country. An e-commerce venture may therefore quickly encounter
compliance issues which may significantly decrease its value.
16 ACCESSASIA | WWW.AUSTCHAM.ORG.SGLEGAL COMPLIANCE NEEDS OF AN E-COMMERCE VENTURE
Due to the global nature of many e-commerce ventures, compliance with laws in each of the countries it operates is crucial. For example,
failing to comply with data privacy and consumer protection laws could not only impact a company’s valuation – but also lead to civil or
criminal liability. Below, we highlight some salient compliance issues related to e-commerce– highlighting the importance of hiring legal
counsel with a deep understanding of e-commerce compliance needs.
1. Data Privacy 3. Competition Laws
When transacting online, consumers almost All ASEAN member countries have enacted
always share personal data such as their name, some form of competition legislation and
contact details, home address and payment have a regulator to ensure the enforcement
card details. Of 194 UNCTAD member states, of such legislation. Behaviour by e-commerce
a total of 107 countries (of which 66 are ventures which may impact a competitiveness
developing or transition economies) have analysis may include:
in place legislation to secure the capture,
transmission and use of personal data. • Price obfuscation, which may be seen as anti-competitive. This
involves making it difficult for consumers to search and compare
E-commerce businesses are also generally required to implement prices online, such as by advertising prices of low-quality products
security measures to prevent unauthorised access, use and disclosure on a price comparison website but not making the price of higher-
of personal data. Furthermore, customers must be informed of the quality upgrades easily observable;
purposes for which their data is being collected, and consent to the
collection, use or disclosure of their personal data. Finally, it is also • Vertical restraints, on the other hand, may be seen as pro-competitive
crucial for any e-commerce venture to implement procedures to depending on the context. These are generally non-price-related
handle data breaches which enable the business to notify customers restrictions imposed by parties on different levels of the distribution
and relevant authorities promptly and investigate and contain the chain, and may include restrictions on selling online, submitting
breach. offers to price comparison websites, or cross-border sales.
Because compliance requirements may differ between countries, Whether an act may be considered anti-competitive requires
ventures may need to adopt tailored approaches for each jurisdiction. complex analysis and professional advice from a qualified legal team,
which should be sought.
2. Consumer Protection
Most countries have adopted laws and
regulations to protect consumers who may be
at the mercy of errant traders and unethical
business practices. Common concerns include
the truth of online product descriptions and
reviews, fairness of merchant terms of sale,
and availability of recourse for late or non-
delivery, product defects, or other disputes.
In Singapore, for example, consumer protection laws include:
• Unfair Contract Terms Act, which restricts the extent a merchant can
limit or exclude liability owed to consumers;
• Consumer Protection (Fair Trading) Act, which prohibits unfair trade
practices, including false claims about goods/services or having
overly harsh or oppressive terms of sale; and
• Consumer Protection (Trade Descriptions and Safety Requirements)
Act, which prohibits traders from using false trade descriptions,
including in advertisements for goods
Of the 194 UNCTAD member states, 97 (of which 61 are developing or
transition economies) have adopted consumer protection legislation
that relates to e-commerce. Likewise, a tailored approach for each
jurisdiction may be necessary.SINGAPORE - AUSTRALIA FREE TRADE AGREEMENT
1 DECEMBER UPGRADE TO THE
SINGAPORE-AUSTRALIA
FREE TRADE AGREEMENT
OUTCOMES AT A GLANCE E-commerce and telecommunications
The Singapore-Australia Free Trade Agreement (SAFTA), which These chapters have been updated to meet better the needs of
entered into force in 2003, is Australia’s second oldest FTA. It is the modern business. This includes commitments on the free flow
central pillar of Australia’s economic relationship with Singapore, of data across borders for service suppliers and investors as part
and has already delivered substantial benefits for exporters, of their business activity, and on not imposing customs duties
such as complete tariff elimination, underpinning Singapore’s on digital products. Consumers will benefit from a mechanism
position as Australia’s fifth largest trading partner. The Australia- to promote transparent and reasonable rates for international
Singapore Comprehensive Strategic Partnership, which was mobile roaming services, and commitments to protect privacy
announced in 2015, provided the impetus to modernise SAFTA. and consumer rights.
The result is a comprehensive update, with new market access
underpinned by new rules providing greater certainty for For Investors
exporters of goods, services and investment. The Agreement to SAFTA’s Investment Chapter has been revised to incorporate a
Amend SAFTA was signed on 13 October 2016 and entered into set of modern rules governing the treatment of investors and
force on 1 December 2017. their investments. This includes modernising the investor-state
dispute settlement (ISDS) mechanism to incorporate more
For Services Suppliers explicit safeguards to protect the Government’s right to regulate
SAFTA’s services chapters have been comprehensively updated in the public interest. Australia will raise the FIRB screening
C
to better protect and promote the interests of service suppliers threshold for private Singaporean investment in non-sensitive
and governments in the 21st century. Building upon FTA best sectors from $252 million to $1094 million, consistent with the M
practice, these changes will reduce red tape and promote approach taken in the TPP and North Asian FTAs. Y
regulatory coherence.
Mobility of Business Persons CM
Professional Services SAFTA will provide greater certainty to Australian and MY
SAFTA will provide greater certainty for Australian lawyers Singaporean service suppliers seeking to enter and work
CY
and law firms operating in Singapore. Australia has locked in temporarily in each country’s market. Singapore and Australia
existing opportunities in the legal sector, including the ability have made commitments on work rights on a reciprocal basis. CMY
for Australian lawyers to practise Singapore law and to work in Australians will enjoy: K
international commercial arbitration. Australia will also benefit • longer lengths of stay for independent executives,
from future market reforms in Singapore’s legal sector, which will contractual service suppliers and their families (up from
automatically become SAFTA commitments, putting Australians three months to two years)
on an equal footing with their foreign competitors. Australia • longer lengths of stay for intra-corporate transferees and
and Singapore will establish a framework to support mutual their families (up from two years to three years)
recognition of professional qualifications. Priority will be given • certainty on entry and length of stay for installers and
to arrangements for engineers and accountants, with Singapore servicers of machinery and equipment
and Australia agreeing to commence negotiations on Mutual • access to a help desk and streamlined processes to facilitate
Recognition Arrangements (MRAs). temporary entry and work permits for Australian business
people.
Education
SAFTA will enhance opportunities for Australia’s world-class For Goods Exporters
education exports through increased recognition of Australian To complement existing duty-free access for Australian goods,
tertiary qualifications. In particular, Singapore has agreed to the Rules of Origin Chapter will now include a full schedule of
recognise the Juris Doctor degrees of Australian universities product specific rules of origin, which will provide flexibility to
currently listed in SAFTA, providing access for those universities meet the requirements to claim preferential treatment in each
which have moved to a graduate model of legal education, such other’s markets. SAFTA will adopt a self-certification process,
as the University of Melbourne and the University of Western meaning an importer, exporter or producer can self-certify that
Australia. Separately, Singapore will recognise allied health the good meets the applicable rule of origin for the good.
degrees from a number of Australian universities.
Government Procurement
Financial Services Australian companies are already winning high-value contracts
Financial service providers will be able to provide a range with the Singapore Government, and SAFTA will lock in these
of financial services on a cross-border basis. This includes opportunities in sectors such as road transport, construction
investment advice and portfolio management services and and engineering. The Government Procurement Chapter has
brokerage services for insurance of maritime, aviation and also been modernised to reflect better current procurement
transport-related risks. practices, including to protect government policies aimed at
encouraging access to government contracts for indigenous
firms and small and medium-enterprises.
18 ACCESSASIA | WWW.AUSTCHAM.ORG.SGUPCOMING EVENTS OUT & ABOUT
LUNCH WITH THE HON.
CHRISTOPHER PYNE MP,
MINISTER FOR DEFENCE
INDUSTRY
BUSINESS Over 80 AustCham members and their guests joined us at Montreux Jazz
Cafe for an evening of networking. Thank you to Australian International
THURS 18 JAN 2018
EVENT SPONSOR
CONNECTS School for sponsoring the event.
Thursday 26 October 2017
EVENT SPONSOR
WINE SPONSOR
ANZ AUSTRALIA DAY BALL 2018
SAT 27 JAN 2018
EVENT SPONSOR
BAND FLOWN BY
1 2
GOLD SPONSORS
1. Ivan Lim, Razy Shah, Tony Gravina, Cianta Seneviratne and Tim Ong
2. Jo Lu, Rachael Bennett, Sarah Robertson and Mark Florance
PHOTOGRAPHY WINE
& LOGISTICS SPONSOR
SPONSOR
GOURMET BEER
MEET THE Nearly 40 members joined us for our November Meet the Board event.
Over breakfast, our new members had an opportunity to meet the
BOARD
SPONSOR SPONSOR AustCham board members and network with other members. Special
thanks to GEMS World Academy for sponsoring the event.
Wednesday 1 November 2017
AUCTION SPONSORS
EVENT SPONSOR
OFFICIAL DIGITAL
PRESS COMMUNITY
PARTNER PARTNER
OFFICIAL MEDIA
PARTNER
EXCELLENCE IN LEADERS 1
WITH ALAN JOYCE, CEO OF
QANTAS 1. Ian Cummin
TUES 06 FEB 2018IN CONVERSATION WITH We invited Honeycombers founder Christine Edwards to speak at our
Christine Edwards
In Conversation With session. Christine spoke about her successes and
challenges in building her hyper-local lifestyle websites across three locations
Wednesday 6 November 2017 (Singapore, Bali and Jakarta). Special thanks to GEMS World Academy our
event sponsor and ClubCo our venue sponsor.
EVENT SPONSOR
VENUE SPONSOR
1 2
1. Philip Lutton and Timothy Mahoney
2. Sebastian Bernard and Christine Edwards
INSIDE BUSINESS Dentons Rodyk shared some of the complexities, challenges and opportunities
that businesses face when dealing with e-commerce with regards to laws, policies,
NAVIGATING payments, logistics, and mobile penetration at our Inside Business event. Special
thanks to venue sponsors Dentons Rodyk.
E-COMMERCE
Thursday 16 November 2017
VENUE SPONSOR
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 21OUT & ABOUT
LAUNCH PAD Philip Forrest, board member and former president of AustCham
Singapore shared his insights on navigating cultural differences in the
CROSS CULTURAL workplace. This event was in collaboration with New Zealand Chamber
BUSINESS
of Commerce Singapore. Special thanks to venue sponsor Servcorp.
Wednesday 22 November 2017
IN COLLABORATION WITH
VENUE SPONSOR
1 2
1. Robert Stankov, Shekinah Kendi Kinimi, Julie-Ann Chapman, Tamara
Alnassar and Rund Alnasser
2. Emma McCollough, Lara Verity Sinclair and Sam Williams
22 ACCESSASIA | WWW.AUSTCHAM.ORG.SG&ABOUT
10NEW MEMBERS
GOLD RIO TINTO SINGAPORE RIO TINTO SINGAPORE
CORPORATE HOLDINGS PTE LTD HOLDINGS PTE LTD
MEMBERS GARETH JOHNSTONE AMARSANAA ADIYA
CHIEF ADVISER ASIA PRINCIPAL ADVISER
www.riotinto.com www.riotinto.com
CORPORATE ASSOCIATED FOREIGN CFO CENTRE P/L ENGECO PTE LTD
MEMBERS EXCHANGE (SINGAPORE)
PAUL NORWOOD
STEVE SETTLE
MANAGING & REGIONAL
MARC ALLEN
TECHNICAL DIRECTOR
EXECUTIVE DIRECTOR DIRECTOR www.engeco.com.au
www.afex.com www.cfocentre.com.sg
HOLIDAY INN SINGAPORE INSTAREM PTE LTD GLOBAL BABE
ORCHARD CITY CENTRE FIONA KWEN FIONA ARGYLE
FRANK FOSTER MARKETING MANAGER COMMUNICATION DIRECTOR
GENERAL MEMBER www.instarem.com www.globalbabe.com
www.ihg.com
24 ACCESSASIA | WWW.AUSTCHAM.ORG.SGGOLD CORPORATE MEMBERS
CORPORATE FLYWIRE (SINGAPORE) PTE AIRSWIFT
MEMBERS LTD
VICTOR PARDO
JOANNE PAVIA
ACCOUNT DIRECTOR -
BUSINESS DEVELOPMENT GLOBAL MOBILITY SOLUTION
MANAGER www.airswift.com
www.flywire.com
GALKAL GILMOUR SPACE
GRAEME SPARSHOTT TECHNOLOGIES
MANAGING PARTNER - ASIA ADAM GILMOUR
www.galkal.com.au CEO
www.gspacetech.com
SUPERNOVA PTE LTD NOVOTEL SINGAPORE
EMILY HAMILTON CLARKE QUAY
FOUNDER ALAN BURROWS
www.supernova.xyz GENERAL MANAGER
www.novotelclarkequay.com.sgNEW MEMBERS
CORPORATE TEALE PTE LTD VIRGIN ACTIVE MCCORKELL AND ASSOCIATES PTE LTD
MEMBERS ADRIAN BUKMANIS
TECHNICAL DIRECTOR
NIKI GOLDNER
NATIONAL RELATIONSHIP
JOSEPHINE JEREMIAH
GENERAL MANAGER
www.teale.asia MANAGER www.mccorkell.com.sg
www.virginactive.com.sg
CORPORATE
MEMBERS SINGAPORE MANAGEMENT
UNIVERSITY
TECHENOMICS SINGAPORE PTE LTD
CHRIS ADSETT
TECHENOMICS
SINGAPORE PTE LTD
JACK LIM CEO STACEY VARSANI
CLIENT DIRECTOR www.techenomics.net CONSULTANT
www.smu.edu.sg www.techenomics.net
VIRGIN ACTIVE VIRTUAL ROOM WINDOW SEAT GROUP
DAMIEN POSTERINO REBECCA ASSICE PRIYANKA NADKARNI
HEAD OF SALES S.E.A DIRECTOR MANAGING DIRECTOR
www.virginactive.com.sg www.singapore.virtual-room.com www.windowseat.group
26 ACCESSASIA | WWW.AUSTCHAM.ORG.SGASSOCIATE
MEMBERS AUSTRALIAN INSTITUTE OF
COMPANY DIRECTORS
EDWARD PALMISANO
MARKETING DIRECTOR
www.companydirectors.com.au
INDIVIDUAL
MEMBERS APEX BRS
LISA ASKWITH S.E.A STRATEGIC PTE LTD
REGIONAL DIRECTOR MARK FLORANCE
MANAGING DIRECTOR
www.apexbrs.com
BROOKFIELD ASSET MANAGEMENT SINGHEALTH
NIEL THASSIM SHARRON BENNETT
CEO HEAD
www.brookfield.com www.singhealth.com.sg/
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 27TRAVEL
QANTAS
Complimentary business class check-in for you at the Qantas lounge in Singapore
MEMBERSHIP BUSINESS SERVICES
CARD OFFERS AIMS IMMIGRATION SPECIALIST
15% discount on professional fee at AIMS Immigration Specialist
Present your AustCham CITY DEVELOPMENT LIMITED
10% discount on facilities and services at City Serviced Offices
membership card and CLIFTONS
enjoy these benefits. 25% discount on room bookings
GEEK TEAM ASIA
20% discount on all your technology support needs
HMD
Up to 50% off restoration services
ISENTIA
Up to 30% discount of standard rate card
LAW IN ORDER
Enjoy 15% off a range of business administrative services
LEVEL3
A complimentary month of 'Community Membership'
RUNNINGSTREAM
50% discount for the first year proprietary Portfolio Program
SERVCORP
Enjoy one month complimentary ‘The Virtual Office’ package
EDUCATION & TRAINING
BRITISH COUNCIL
20% off all corporate training workshops
COALFACE DIALOGUE
Special members’ rates on selected professional development
program
GEMS WORLD ACADEMY SINGAPORE
Priority discounts & preferential discounts for enrolments in the
2016-2017 academic year
PM-PARTNERS
Enjoy 20% off standard price of any public or in-house training
course
SINGAPORE MANAGEMENT UNIVERSITY
Receive 5% discount on selected SMU Executive Development
Programmes
WHITE LODGE
Free trial class for your child at any one of eight centres throughout
Singapore
FINANCIAL SERVICES
PAY2HOME
Enjoy money transfers to Australia for a flat fee of $15 (save 25%)
QBE SINGAPORE
20% discount on personal lines including Home, Motor and Travel coverage
HEALTH SERVICES
ALL IN THE FAMILY COUNSELLING
Enjoy special rates for counselling sessions
DENTAL ESSENCE
Special members’ rates for consultations
GLOBALIS INTERNATIONAL HEALTH INSURANCE
AustCham members, both individuals and groups, now receive discounted rates on
their international health insurance
LIFESTYLE & ENTERTAINMENT
THE BRITISH CLUB
50% off Associate Transferable Membership for only $8,000+ GST
EATPLAYLIVE
50% off the purchase price for 12 months access to EatPlayLive, Asia’s premier lifestyle app
BOUNCE SINGAPORE
10% off General Access Tickets
VIRTUAL ROOM
15% off for AustCham members booking onlineRESTAURANT & HOTELS
ANGSANA BINTAN
30% off best available rate at Angsana Bintan
BANYAN TREE BINTAN
30% off best available rate at Banyan Tree Bintan
ANGSANA LANG CÔ
Complimentary choice of one unlimited inclusion (golf/spa/dining) per day
BANYAN TREE LANG CÔ
Stay 3 pay 2 Nights and enjoy the 3rd night free
CARLTON HOTEL SINGAPORE
20% off total bill at Café Mosaic, Tuxedo and Gravity Bar
10% off total dinner bill at Wah Lok Cantonese Restaurant
COMO THE TREASURY PERTH
Save over 33% on best available room rates
FAR EAST HOSPITALITY
5% off best available rate with complimentary daily breakfast and WiFi
10% off best available rate at TFE hotels in Australia
FRASERS HOSPITALITY
20% off Best Flexible Rate at participating properties
THE FULLERTON HOTELS SINGAPORE
10% off the Fullerton Family Package
THE FULLERTON BAY HOTEL
10% off the Indulgence Room Package
JAXS BISTRO
10% off total bill
JW MARRIOT HOTEL SINGAPORE SOUTH BEACH
15% off food and beverage total bill
MEZZA9
15% discount on snacks at martini bar and party room, and food during lunch,
dinner and Sunday brunch
MARINA MANDARIN SINGAPORE
15% off best available room rates and hotel managed restaurants & lounge
MEAT SMITH
Exclusive all day happy hour drinks and 25% off all meat platters
MONTREUX JAZZ CAFE
20% off total bill and 15 % off Merchandise
NOVOTEL SINGAPORE CLARKE QUAY
15% off total buffet food bill only at The Square Restaurant
PARK REGIS
Enjoy special rate for Corporate Room
WHITEGRASS
20% off total bill at The Bar
RETAIL
EASTERN CARPETS
10% off on all carpet cleaning services
THE BESPOKE CLUB
15% off storewide including Bespoke Orders
UOMO GROUP
Exclusive discounts at UOMO Group, Brioni and Stefano Ricci
INDIGO WINE CO
Futher 10% off already discounted wine packs
POP UP WINE
Complimentary bottle of award winning wine with purchase of any 12 wines
SHIVA DESIGNS
15% discount on purchases over $99
WINE EXCHANGE ASIA
$69 per bottle for cases of six Billecart-Salmon NV Champagne
YES
20% off best wellness products including Tasmanian Honey
TRANSPORT & RELOCATION SERVICES
ALLIED PICKFORDS
Two hours complimentary handyman service on moving day
VISIT WWW.AUSTCHAM.ORG.SG FOR FULL DETAILS & CONDITIONS
ACCESSASIA | WWW.AUSTCHAM.ORG.SG 29NEWS FLASH
Congratulations to AustCham member
Flywire on winning first place at Singapore
Fintech Festival!
Flywire was recognised for their technological innovation and impact across the region with their international payment and receivables
platform.
JOIN AUSTCHAM SINGAPORE
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GET CONNECTED
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ININ2018
2018
15 MONTHS MEMBERSHIP
15 MONTHS NOW
MEMBERSHIP NOW OPEN
OPEN
570 3800
Over
members and growing attendees at our events in 2017
3933
social media followers and
counting
40
events in 2017 and more to
keep you busy in 2018
8 ANNUAL
BUSINESS SERIES
Breakfast with the Stars, Country
5 ANNUAL SIGNATURE
SOCIAL EVENTS
ANZ Australia Day Ball, President’s
Lunch & Business Awards, Wine &
briefing, Excellence in Leaders, In
Conversation With, Innovation, Inside Cheese Nights and Xmas Drinks
Business, Launch Pad and Special
Breakfasts
VISIT AUSTCHAM.ORG.SG FOR MORE DETAILS
Australian Chamber of Commerce Singapore
30 ACCESSASIA | WWW.AUSTCHAM.ORG.SG
25 Napier Road, Level 3, Australian High Comission Building
Tel: +65 6738 7917 Email: members@austcham.org.sg WWW.AUSTCHAM.ORG.SGOur Singapore to London route is back
From 25 March 2018, we’ll once again be flying direct to London from Singapore.*
Choose from First, Business, Premium Economy or Economy. Fares available now.
Book now at qantas.com
Subject to Government and Regulatory approval.
*
DEC ? JAN | ACCESSASIAAUSSIE-RULES
Skills for life
Integrity
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child grow into a responsible,
respectful
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We celebrate
fugiatendus our students’
exped undipsamacademic, sporting and artistic
achievements - day in and day out. However, we also instil
a deeper quality - one which drives them to spur on their
classmates, help a straggler over the wall and gracefully Globally focused,
distinctly Australian
applaud the successes of others. The building of character
is woven into everything we do.
www.ais.com.sg
Speak to our friendly Admissions Team about
becoming part of our community. +65 6653 7906
Australian International School Pte Ltd is registered by the Committee for Private Education (CPE), part of SkillsFuture Singapore (SSG). CPE Registration Number 199204405H. Period of Registration 6 July 2015 to 5 July 2019You can also read
