Analysis

Red Roulette

An Insider’s Story of Wealth, Power, Corruption and Vengeance in Today’s China In the headline-making and bestselling tradition of Bill Browder’s Red Notice comes a riveting memoir from a man who rose within the ranks of China’s ultra-rich only to see his business partner-wife mysteriously disappeared. After the Communist Revolution, Desmond Shum’s grandfather, a lawyer, had one chance to leave China, and instead chose to stay. The government shut down his law firm and seized his house. Officials marked his family as belonging to a ‘black category’ that included former landlords and rich peasants, meaning the Shums would be stigmatised and impoverished. As Desmond was growing up, he vowed his life would be different. Through hard work and sheer tenacity Shum went to college in America and returned to China to make his name in business. There, he met his future wife, the highly intelligent and equally ambitious Whitney Duan. Whitney and Desmond formed an effective team and, powered by a set of relationships they formed with top members of the Red Aristocracy, vaulted into China’s billionaire class. Soon they were developing the massive air cargo facility at Beijing International Airport, and they followed that by developing one of Beijing’s premier hotels. They were dazzlingly successful, travelling in private jets, funding multi-million-dollar buildings and endowments, and purchasing expensive homes, vehicles and artwork. But in 2017, their fates diverged irrevocably when Desmond, while residing overseas with his son, learned that his now ex-wife Whitney had been disappeared – consigned to some unknown fate – along with three co-workers. In Red Roulette Desmond Shum pulls back the curtain on China’s ruling elite and tells the story of a remarkable woman who rose to prominence in a strongly patriarchal society. Written from a desire to reveal the real truth of what is happening inside China’s wealth-making machine, this eye-opening tale […]

The biggest mistake a manufacturer can make is to focus on cost cutting

-Ishan Galapathy In 2009, global cereal giant Kellogg’s announced an aggressive three-year, $1 billion cost reduction scheme. The savings were to be delivered through overall supply chain improvements that focused on process optimisation, asset utilisation and waste management. The scheme was christened Project K-LEAN (Lean, Efficient, Agile, Network), and it was primarily driven to replicate the success achieved at two North American Kellogg’s manufacturing plants. Given the clear objective of Project K-LEAN (rapid cost savings), every initiative delivered exploited short-term, bottom line improvements like headcount reduction, maintenance budget cuts and plant shutdowns. Although the organisation over delivered on its ambitious $1 billion promise, it left its teams with scars, bruises and loss of trust, which made it difficult to engage employees in any further productivity improvement initiatives. This is not an isolated case. In September 2020, Kraft Heinz announced a $2 billion cut in costs over five years as a way of driving growth. Since the Kraft Heinz merger in 2015, the company has lost nearly half its stock value. An even harder pill to swallow for Kraft Heinz is that its stock keeps tumbling while the S&P 500 Index for the same category keeps rising. When the cost-cutting plan was announced, analysts and investors didn’t buy-in that businesses such as Kraft Heinz could turn around its performance and increase shareholder value by ‘cutting’ costs. In comparison, a company such as Proctor & Gamble (P&G) that focuses on processes that deliver cost reductions as an outcome truly operates with a world-class supply chain. Don’t take my word for it—Gartner’s latest 2021 global top-25 supply chain report lists P&G as one of five organisations in the ‘masters’ category, which means it has maintained a top-5 ranking for at least seven out of ten years. In 2013, I was fortunate to visit […]

India’s first current account surplus since 2003 may not sustain as trade deficit set to widen, says GlobalData. India recorded an annual current account surplus for the first time in 17 years in 2020 due to lower trade deficit amid depressed import demand with closure of economic activities due to the COVID-19 induced nationwide restrictions. However, the current account surplus may not sustain as trade deficit is forecasted to widen from US$23.3bn in 2020 to US$53.9bn in 2021 with the re-opening initiatives, says GlobalData, a leading data and analytics company. The current account balance showcases the gap between the country’s overall foreign receipts and payments and highlights the nation’s external sector’s robustness. India’s current account which recorded an average annual deficit of 1.9% of GDP during 2004-2019 turned into a surplus of 1.0% of GDP in 2020. The main driver of India’s current account surplus was lower imports due to subdued domestic demand and lower prices of oil, which narrowed down the trade deficit by US$102.8bn in 2020. Thus, while exports weakened by 13.8%, imports contracted by a massive 26.6% in 2020. Shruti Upadhyay, Economic Research Analyst at GlobalData, says: “Most Indian states are embarking on reopening initiatives and with the resumption of economic activities domestic demand is expected to rise, which is anticipated to drive the growth of exports and imports. “GlobalData forecasts the imports and exports to grow at an average annual growth of 6.4% and 5.2%, respectively, during 2021–25. Consequently, India is expected to record a current account deficit of 1.74% of GDP on an average during 2021–25, as per the IMF estimates.” India is the third largest consumer of the crude oil in the world, with an import dependency of almost 85%, playing a vital role in total import growth of the country. The reduction in […]

CropLife Asia echoes FAO call to transform food systems

With the release of the United Nations (UN) 2021 State of Food Security & Nutrition in the World (SOFI) report, CropLife Asia highlighted the need for the region’s food value chain stakeholders to work together in transforming our food systems to better enable food security, improved nutrition, and affordable healthy diets for all. The challenge of achieving the UN’s Sustainable Development Goal (SDG) 2 of ‘zero hunger’ globally by 2030 has grown even more complicated with the broad impact of the Covid-19 pandemic. In this latest UN report, it is estimated that the number of people affected by hunger worldwide in 2020 was between 720 and 811 million people. This is a marked increase of over 100 million more people than in 2019. The prevalence of undernourishment (PoU) has also climbed up to around 9.9 percent in 2020 compared to 8.4 percent the previous year. This new report also confirms a sadly familiar refrain for Asia: our region is failing to deliver food security for far too many – particularly among the more vulnerable parts of society. Asia continues to be home to the greatest number of undernourished people with 418 million suffering from hunger in 2020. “The challenge of feeding Asia and the world requires us to explore all possible solutions. This can only be achieved through greater collaboration with others, as multi-stakeholder approaches are crucial for transformation of our food systems,” said Dr Siang Hee Tan, Executive Director, CropLife Asia. “The plant science industry champions innovation in both crop protection and plant biotech, as well as precision and digital agriculture solutions to benefit both people and the planet.” “The innovative technologies of the plant science industry have a key role to play, but it is only one part of the solution,” Dr Tan added. “Ensuring that an ample […]

The three pillars of China’s booming start-up ecosystem

Once known as the “world’s factory”, China has risen to become an economic superpower in recent decades. In fact, the nation is expected to become the world’s largest economy in 2027 in terms of nominal GDP. Aside from its sheer size, China has successfully transformed its economy from manufacturing towards nurturing an environment to enable high-tech innovations: It is home to more than 150 unicorns, leading the world in the field of AI, robotics and computer vision, to name just a few. This start-up scene wasn’t built overnight, but through decades of efforts by the Chinese government, state-owned enterprises, large corporations, universities and many more stakeholders. Here is a breakdown of the secret ingredients that have made China a tech powerhouse, through the lens of the World Economic Forum’s own community of trailblazing start-ups, this year’s cohort of the Technology Pioneers. 1. Innovation-friendly policies The Chinese government played a crucial role in laying out foundations for innovation. In 1978, Chinese leader Deng Xiaoping lured foreign investments and capital with the Open Door Policy, aimed to encourage foreign businesses to set up offices and do business in China. Alongside this policy, the government also created Special Economic Zones in four different regions, including Shenzhen, to further attract foreign business. The resulting urban growth allowed these cities to position themselves as attractive start-up hubs for the 21st century. The government also created the Chinese Government Guidance Funds to facilitate public-private investment. These funds – collaborations between central, provincial and local government – focus on investment into industries with emerging and high-potential technologies, including AI and robotics, as well as the digital transformation of traditional industries. China’s next five-year plan has highlighted industrial internet and domestic industrial software as key focus areas for government policy. As a result, regional governments are rolling out plans, supported […]

Tremco CPG and USL Group announce collaboration in Asia Pacific

On 1st June 2021, Tremco Construction Products Group (CPG) Asia Pacific (APAC), already home to nine distinguished construction brands across different product offerings, began supplying USL Group brands in the Asia Pacific region. The USL portfolio will be integrated into Tremco CPG for the Asia Pacific region under the leadership of Dr. Abu Saleh Mohammod, business development director of the Infrastructure segment, who will drive the growth of complimentary USL Group product brands including solutions from Matacryl, Pitchmastic PmB, Nufins, PDS and Prime Resins. The route-to-market collaboration will see USL Group’s range of bridge deck waterproofing, drainage, movement control technologies and construction chemicals marketed by Tremco CPG APAC, effectively solidifying Tremco CPG’s position as a one-stop solution provider of construction products. “This partnership offers significant value to our customers and stakeholders and unlocks new business opportunities for Tremco CPG APAC, especially within the infrastructure sector,” explained Saleh. USL Group is a leader in the structural protection and movement control construction landscape. Established in 1981, USL Group manufactures, supplies, and installs a wide range of specialist construction products across the globe. USL Group’s expertise in infrastructure and civil engineering, coupled with its strong presence in distribution channels and innovative specialty coatings, allow them to deliver superior and efficient engineering solutions. The addition of USL Group brand’s diverse and high-quality range of products is timely, and the newly formed symbiotic relationship will strengthen the expansion of the infrastructure segment while complementing Tremco CPG’s singular streamlined approach for architects, developers, and contractors. Saleh added, “Together, our powerhouse of brands and strategic technologies will cover many aspects of a construction project, so we look forward to this exciting new chapter ahead of us as we build a joint successful future.”

New possibilities with LifecycleIQ Services

To help companies innovate faster and improve efficiencies during the age of digitalisation, Rockwell Automation is evolving its service and solutions capabilities and launching a new brand: LifecycleIQ Services. The new brand represents the expanding ways that customers can engage with Rockwell Automation technology and highly trained professionals to improve their performance and reimagine what’s possible across their industrial value chain. LifecycleIQ Services provide the transformative partnership that customers need and expect today. By combining digital technologies with expansive human know-how, the services help companies work faster, smarter and with greater agility at every point in their business cycle. The services can help companies realise the power of a Connected Enterprise during the design, operations, and maintenance stages in greenfield and brownfield facilities. “LifecycleIQ Services create a more intimate customer engagement model, one that can help companies not only solve problems, but also see new possibilities in production and transform them into reality,” said Frank Kulaszewicz, senior vice president, Lifecycle Services at Rockwell Automation. “We’re investing in providing a wide range of holistic services to help companies be more productive, safe and secure anywhere in a product, process or plant lifecycle.” One challenge faced by many industrial players in Asia-Pacific is how to adopt smart manufacturing technology quickly whilst seamlessly integrating legacy equipment and machinery. LifeCycleIQ Services help to address this unmet need holistically, enabling enterprises to be future-ready by incorporating agility and flexibility in both infrastructure and processes. Driving efficiencies also continues to be increasingly important to businesses across every sector in the region, with growing attention on sustainable operations. LifeCycleIQ Servicesnenables customers to better plan and service every aspect of the plant, from design to safe operations, enabling reduced energy usage, minimised wastage, and maximised output. Industrial companies can use LifecycleIQ Services to achieve outcomes like:Capturing more value […]

Christopher-Boyle-Managing-Director-AFCryo

Green Hydrogen Production System for zero-emission refuelling

Christchurch-headquartered cryocooler developer AFCryo in conjunction with Clean Power Hydrogen (CPH2) has unveiled its Green Hydrogen Production System to provide a cheaper and more reliable way of generating green hydrogen from renewable sources for refuelling transport, generating power and industrial use. The revolutionary system, which splits water into pure hydrogen and medical grade oxygen without the polymer membrane used in common electrolysers, combines AFCryo’s world-leading cryogenic technology for gas separation and hydrogen liquefaction with unique and patented Membrane-Free Electrolyser technology from UK manufacturer CPH2. AFCryo and CPH2 have signed a landmark agreement to collaboratively develop and market the on-demand green hydrogen and oxygen production system. AFCryo is set to ship its first production unit to CPH2 in the UK, for integration with its electrolyser technology, for a commission to deliver Ireland’s first 1MW (megawatt) electrolyser-based system to produce pure hydrogen and oxygen. Christopher Boyle, Managing Director and co-founder of AFCryo, says the company is on a mission to add hydrogen to the global energy network to help governments, businesses and energy consumers reach bold emission reduction targets. “Hydrogen is one of the most scalable and viable options we have to help us make the energy transition to a lower-carbon economy. By joining forces with CPH2, we’ve created a faster, more reliable and more cost-effective renewable energy hydrogen production system. Importantly, the oxygen, considered a bi-product of the hydrogen production system, is pure enough to be captured for use in industry or injected into existing waste-water systems to improve the aerobic process.” Boyle says government and industry investment in the hydrogen economy is critical to achieving global decarbonisation goals. “This technology is ready to help transport networks and industries globally transition to hydrogen to help achieve zero-carbon targets. “In New Zealand, an immediate opportunity is to turn the hydrogen refuelling network […]

Smart city and wireless communication network, business district

Smart Cities to fuel growth of Asia-Pacific’s Internet of Things market by 2026

APAC IoT market is expected to reach $436.77 billion in revenue by 2026; spending on smart cities accounts for almost one-third of the market Frost & Sullivan’s recent analysis finds that Asia-Pacific’s Internet of Things (IoT) market is rapidly being transformed by Mega Trends, including the integration of edge-computing networks into IoT systems and new narrow-band (NB) IoT deployments. Driven by growing investments in 4G/LTE and 5G, reduced IoT sensor costs, and government support, the buoyant APAC IoT market is expected to reach $436.77 billion in revenue by 2026 from $96.92 billion in 2020, growing at a compound annual growth rate (CAGR) of 28.52%. China leads IoT spending, accounting for over half of the APAC market, followed by Japan and Australia. Government spending on smart cities accounts for almost one-third of the region’s combined spending, followed by transportation and logistics, then manufacturing. However, the COVID-19 pandemic has negatively impacted customers’ transformation journeys across several industry verticals, resulting in delays in projects such as integrating innovative technologies, including artificial intelligence (AI), Blockchain, and cloud adoption. “The APAC region accounts for about 40% of global Low Power Wide Area (LPWA) connections, with NB-IoT accounting for 97% of them,” said Hemangi Patel, Information and Communication Technology Research Analyst at Frost & Sullivan. “We forecast that the rise of NB-IoT technology will benefit low-resource IoT devices penetration. NB-IoT is expected to be an integral part of IoT connectivity, addressing requirements related to low-bandwidth, low-speed connections in utilities, industries, and households.” Patel added: “On a macro level, increasing government focus on smart cities and Industry 4.0 initiatives is driving demand for digital IoT solutions in the region, such as eGovernment, public transportation, smart traffic management systems, and smart power grids. Given their portfolios ranging from business application solutions to data analytics and end-to-end platforms, telcos are […]

Ford and HP collaborate to transform 3D waste into auto parts

An Industry First Ford says 3D printing has potential to revolutionise customisation of low-volume vehicle parts, accelerate sustainability Companies found way to extend life of already-used 3D printed powders and parts, turning them into auto components for Super Duty F-250 trucks, creating closed-loop on waste Implementation completed in less than one year from ideation to application in parts Ford is continuing to drive the future of automotive 3D printing, this time teaming up with HP to innovatively reuse spent 3D printed powders and parts, closing the loop and turning them into injection molded vehicle parts – an industry first. Sustainability is a priority for both iconic companies, which through joint exploration led to this unlikely, earth-friendly solution. The resulting injection molded parts are better for the environment with no compromise in the durability and quality standards Ford and its customers demand. The recycled materials are being used to manufacture injection-moulded fuel-line clips installed first on Super Duty F-250 trucks. The parts have better chemical and moisture resistance than conventional versions, are 7 percent lighter and cost 10 percent less. The Ford research team has identified 10 other fuel-line clips on existing vehicles that could benefit from this innovative use of material and are migrating it to future models. “Finding new ways to work with sustainable materials, reducing waste and leading the development of the circular economy are passions at Ford,” said Debbie Mielewski, Ford technical fellow, Sustainability. “Many companies are finding great uses for 3D printing technologies, but, together with HP, we’re the first to find a high-value application for waste powder that likely would have gone to landfill, transforming it into functional and durable auto parts.” HP 3D printers are already designed for high efficiency, with systems and structures to minimise the excess material they generate and reuse a […]

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