Craig Martin

What a great way to start the day, spending time with a cohort of cutting edge technology companies from Singapore who are in Japan today with Enterprise Singapore, ACE (Singapore) Pte Ltd and ASEAN-Japan Centre looking at the next steps towards market entry via the Kansai region. **www.infinitycube.com.sg**: Infinity Cube Pte Ltd provides modular, energy-efficient data center solutions utilizing advanced cooling technologies for sustainable IT infrastructure. **www.eigen.digital**: Eigen Digital specializes in AI-driven data analytics platforms that help businesses extract actionable insights from complex data sets. **www.etavolt.com**: EtaVolt Pte Ltd develops innovative energy storage and management solutions focused on enhancing efficiency in renewable energy systems. **www.tictag.io**: Tictag offers data annotation and labeling services to enable companies to train accurate AI models with high-quality datasets. **http://www.quikbot.ai**: QUIKBOT TECHNOLOGIES delivers AI-powered IT automation solutions that help businesses optimize operational processes rapidly and efficiently. One thing the group shared was a strong determination to enter Japan in an efficient and respectful way, and a thirst for knowledge and insights from those that have done so before so it was really fun sharing failures, successes and the learnings that have come with them since I first attempted Japan market entry for a venture 19 years ago and the different approaches that we now have success with for the global startups supported by Innovation Dojo Japan these last 8 years. A few topics we touched on were: - selecting a city to start in: It's becoming easier to cover all of Japan regardless of which city you are based in, so prioritising where your key partners are, market size and where you have less competition are critical #kansai Also, beyond work, what type of environment do you want your team to live in? - hurdles with opening doors to Japanese corporations as partners and potential clients: besides language, how important is it to have "legs on the ground" in Japan, and how do you know when the right time to do so is? How do you find the right talent to represent your company in the market? It was energising to hear how focused and disciplined the group were, and how important Japan is to their global strategies. Looking forward to future collaboration as they progress! Innovation Dojo Japan Enterprise Singapore Innovation Dojo ACE.SG (Action Community for Entrepreneurship) Jeremy Lau Amanda Dizon Gretel Chee Naoya Yoshizumi Kanako Murase JUNIK BAE Kaoru Tsukamoto Siddhant Bhatt Moe Gotoda Marisa W. Daniel Lim Zuo Ming Yap Kevin Quah Kevin S. Jun Rong Oh Bryan Jia Yang Tan

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Wow this chart is proofing the pessimists wrong. More foreign money is flowing into HK. The demand for HKD is on the surge. How I wish the stimulus package can put money into corporates so that they can have cash to generate real profit and not helping some to cash out. Corporates need money and with good bottomlines market volume will surge too. Big guns can think about that now that sentiment is so good.

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Wow this chart is proofing the pessimists wrong. More foreign money is flowing into HK. The demand for HKD is on the surge. How I wish the stimulus package can put money into corporates so that they can have cash to generate real profit and not helping some to cash out. Corporates need money and with good bottomlines market volume will surge too. Big guns can think about that now that sentiment is so good.

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Random Question: With regard to JKIA, WHAT WOULD SINGAPORE DO?? We have this bad habit of invoking the name of Singapore only when we want to tax citizens. On this raging JKIA/Adani debate, I asked myself, what would Singapore do? 1. They decided to build a totally brand new airport, Changi, not to fiddle around with the old airport - Paya Lebar 2. External consultants recommended to Lee Kwan Yew to expand the old Paya Lebar’s terminals and building a second runway 3. But being a visionary, Lee rejected the expansion of the old airport: “I felt then that Paya Lebar had inherent disadvantages. It was located near the city centre. Expansion would be limited. Worse, noise and air pollution would become worse because the flight path footprint was already over our city centre.” 4. Lee relied on internal capabilities in Singapore, he did look for outside solutions like Adani. "I appointed Howe Yoon Choong, then chairman of the Port of Singapore Authority, to head a team to study if we could move to Changi" To coordinate and lead the development of the airport, Sim Kee Boon, permanent secretary at the Ministry of Communications, was appointed chairman of the Executive Committee for Airport Development (ECAD). Howe Yoon Chong, who chaired the airport steering committee, was responsible for updating Lee on Changi’s progress. The Changi project had a very tight deadline because Paya Lebar was approaching saturation, which is why an arrival hall had to be built there as a temporary measure. To ensure that Changi would not be delayed, Sim said that there had to be a mindset shift in the Public Works Department, which was in charge of building the airport. Singapore would NEVER HAVE pulled an Adani. With 70 universities in Kenya, we don't have the ability to study, design, develop and run an airport??? https://lnkd.in/gxzRF5vP

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Life Lessons From Schoolmates. It’s been almost 50 years since I left school. Yesterday, I shared about the challenges of preparing for the transition from full time work into retirement - prompted by an article written by an old classmate’s wife in SPH Media The Straits Times. Yesterday, I also learned about an old schoolmate’s wife who passed on this week, after a period of illness. His wife was also a fellow schoolmate. This is also a type of transition. However, this latter transition is filled with sadness and underscores the temporal nature of life. As I reflect on changes and life’s many different stages, one thing is clear: Work is important but we need to prioritise & treasure the time we have with the people we love and care for - our spouse, our children, our family, our friends. Each day with them is a Gift to be Enjoyed, Loved & be Grateful for. Ultimately, life is not just about the work we do, but about the relationships and the people. Apologies, for the melancholy in starting the day. But I am also starting the day thankful and encouraged that in living our lives, we can also have an opportunity to impact others and, hopefully, leave a legacy in the lives of those whom we love and care for. Tip For The Day: Give your family members a Big hug today and Tell them how much you love them and what they mean to you. Have a blessed Wednesday. https://lnkd.in/g4HmzCq9 #work #life #family #love #mentalhealth

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The plan for achieving 30 by 30 seems to be moving away from realization.

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Lessons on managing joint ventures, investors, and co-founder gleaned from a shareholders dispute involving a Peranakan food doyenne (Part 2 of 2) Continuing from part 1 of this post yesterday: <3 Deadlock resolution> Especially where factions of shareholders hold 50-50 shareholding, or wield significant veto rights, a sensible deadlock mechanism should be considered. It could be put/call options, Russian roulette (buy out or force sale), Texas shootout (sealed bid to buy out the other, highest bid buys out), Dutch auction (sealed bids with minimum price to buyout, highest bid buys out others), mediation and failing which, winding up. In Singapore, market practice seems to eschew these. <4 Clarifying personal rights and value as distinct from the corporate’s>    In certain cases, the main value of the business is in the goodwill and other forms of capital inextricably bound up in an individual founder or key executive. In this case Violet Oon herself. The Court noted that the shareholders agreement did not specify whether and on what terms the company could use Oon’s name. It would be optimal for #investors and #founders to clarify contributions, interests, rights & terms of use. This is especially in scenarios concerning often intangible value which does not fall into neatly defined #intellectualproperty #IP categories. Personal name, image rights, likeness, and goodwill, for example. On the flip side, the Court found that the investor had “exaggerated” his “contributions … in absolute and relative terms”. And the family shareholders represented by Oon’s son was unable to question this; he was confused, fearful and had his will subjected to compulsion and duress. Eg the investor claimed his introducing bankers to the company amounted to $100,000 in value. No basis was put forth for the figure. He bore no liability for the banking facilities when the family shareholders had to personally guarantee the loans. <5 Investors and majority shareholders must be cautious about their conduct> In this case, the Court considered the conduct of the investor, what he said, how he said it, and the overall pattern of conduct, in finding that although there was no unlawful means of pressure, the conduct amounted to bullying, bad faith, possibly exploitative, duress, and undue influence. This is despite there being a shareholders agreement in place and then a new shareholders agreement validly executed by all parties. Indeed the latter agreement was invalidated. What this could mean is that while parties are free of course to negotiate their agreements, they may nonetheless find the conduct of their negotiations under scrutiny and contracts becoming adjusted or even nullified. This case gives much food for thought as to negotiating and drafting agreements for #jointventures and investor shareholders. #Legalcounsel and decision makers should rethink certain practices. #singaporelaw #disputes #litigation #conflictresolution #disputeresolution

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I resonate with B. Paul Santos' insightful commentary on Singapore's position in the equity markets. He speaks with the authority and understanding necessary to align the SGX with the aspirations of the startup and VC ecosystem in Southeast Asia. TL;DR: Success begins with a shift in mindset before taking action. But here’s the next challenge: Who will step up to lead this mindset shift and commit to transforming IPO opportunities for startups, even if it means risking their career? Over the past 16 years, I’ve witnessed a few courageous individuals in Singapore drive change in the startup landscape. From pioneering the iconic Block 71 and the launch of JFDI, Singapore’s first accelerator, to initiatives like IPPL-led accelerators and government-backed programs like iJAM.Reload, TiS, and SGTech commercialization grants. Change was made by bold initiatives and courage of men who stepped in to transform the startup ecosystem to what it is today. The question now is who are the next people who will see through the new change. Whether we’ll see a new wave of innovation that propels Singapore into another golden era for startups—or risk being overtaken by a rising Bursa Malaysia as the preferred destination for IPOs. https://lnkd.in/erAiiWv2

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When I moved into my 60th year, there was a ‘Lightbulb’ moment that crystallised many things in my mindset, perspective & passion. I am greatly encouraged that Singapore is doing likewise. Am delighted to learn of the many policy resets from PM Lawrence Wong at the National Day Rally yesterday. From introducing 10 additional weeks of parental leave - as a strong signalling of the government’s support of us having children, to having 6 months of stipend support for those who are retrenched to get them back on their feet, to paid upgrading training for up to $72k, to sun setting the 40 year old Gifted Education Program- GEP - and having this in All schools instead of just for some in the elite GEP centres. Bold Reimagining of a New Singapore. A Renewed Singapore with Many Paths to Success - beyond just academics to vocational skills and sports. A Singapore that this is Pragmatic in its Policies , Passionate as a People, Principled and yet showing a People centric Purpose that continues to have a Place in the world, is an Enlightened outlook. Really Exciting as Singapore enters its 60th year. Majulah Singapura. SPH Media The Straits Times The Business Times CNA Mediacorp Pte Ltd Ministry of Education, Singapore (MOE) Ministry of Culture, Community and Youth (MCCY) Ministry of Social and Family Development, Singapore (MSF) Ministry of Manpower Ministry of National Development Singapore Singapore International Chamber of Commerce Singapore Institute of International Affairs Institute of Policy Studies, Lee Kuan Yew School of Public Policy SGListCos SGX Group MindForward Alliance Singapore The Law Society of Singapore Singapore Academy of Law Nanyang Academy of Fine Arts Singapore Sports School https://lnkd.in/gvEgbP3q #leaders #leadership #singapore #passion #purpose #people #success

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Great to be back at PIER71™ for the Maritime Innovation Leaders firechat together with Shaun Hon of Motionventures to discuss open innovation in the maritime cluster in a session moderated by Calvin Chu Yee Ming of Eden Strategy Institute. This was followed by Nakul Malhotra’s sharing of Wilhelmsen’s own experience of how its corporate vc evolved to include open innovation & emerging tech. When MPA first formed PIER71 six years ago with co-partners NUS Enterprise, the idea was to catalyse maritime innovation in Singapore in areas as digitalisation, automation, sustainability and now decarbonisation. It was one of several ways to ensure Singapore remains a relevant global hub port & international maritime cluster. And fun fact: while PIER71 literally means PIER, it is actually the acroymn for Port Innovation Ecosystem Reimagined at Block 71. So “ecosystem” has always been an integral part of the effort. We always knew we couldn’t do this alone. So I’m glad to see the ecosystem has become more vibrant and diverse, with more players coming to Singapore & at an exciting time where we are seeing more funds and deal flow through the Lion City. It remains for all stakeholders here to find ways to build even larger “ecosystems of ecosystems” as we move forward. SGTraDex is one good example of Singapore building neutral, trusted and reliable platforms to foster greater data sharing to encourage greater collaboration. We can replicate this approach in other areas… The urgency to build more resilient, secure & sustainable supply chains remains stronger than ever, given the increasingly disruptive world we live in. Thanks to MPA’s Kenneth Lim & his ever enthusiastic team for inviting us to share our insights. #openinnovation #maritime #shipping #startups #startupaccelerators #startupincubators Maritime and Port Authority of Singapore (MPA)

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Making peace with the past. This article in today’s The Straits Times caught my eye. The recent unveiling of a bronze statute of Sir Stamford Raffles - founder of Singapore and personification of our colonial past - has some rather strong views on both sides of the debate. My view? We owe our UK colonial masters a debt of appreciation (if not gratitude) for establishing a few foundational pillars whose value and benefits we continue to enjoy till this day: - The English language as a working language that allows us to connect with the world. - The Institutions of Governance that are a key infrastructure of the nation - our Parliamentary System, our Judicial System, our Civil Service system. - The Educational system - though modified now - has its roots from our colonial past. These are but 3 legacy benefits. Rather than quibble with the Past, the Better Challenge and Constructive Debate is how can we Improve things Significantly for the Present, the Future and the Next Generation. Do you have a view to share? SPH Media The Straits Times CNA The Business Times Singapore Law Watch Singapore Academy of Law The Law Society of Singapore SCCA - Singapore Corporate Counsel Association Ministry of Education, Singapore (MOE) #leaders #leadership #history #past #future #nextgeneration #colonialism #lawyers #legacy #gratitude #appreciation

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Hello #Jeffery https://lnkd.in/daB6SYtE: Like https://lnkd.in/duqSjQGv many other #Singaporeans, I associate #Malaysia with great #food, huge #malls, and reasonable prices. A vibrant #stockexchange is definitely not among the first things that #spring to #mind when I think of the #country https://lnkd.in/d6Yhi695. Yet, #BursaMalaysia has outperformed #Singapore’s #SGX in recent years. This includes the areas of #IPO activity, #market liquidity, and overall #marketgrowth https://lnkd.in/day4uHcG. This week’s featured #story highlights four areas where #SGX - and the #Singapore #government - could learn from #Bursa. One of these lessons is about liquidity, which could be enhanced by encouraging the local #government and #institutionalbackers to #invest in the #market https://lnkd.in/dGYTfTkZ. As the #financial #hub of #SoutheastAsia, the city-state does not often look to its neighbors for inspiration on #economic matters. But as the #region continues to develop and #innovate, we’d only be shooting ourselves in the foot if we’re too proud to #learn from those around us https://lnkd.in/daDsxkcE. -- #Simon #journalist #techinasia #Singaporegovernment #IPOmarket #Malaysia #SingaporeExchange #SGX

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"The root of all suffering is attachment" - Buddha I sent a document to a client in an email but didn't write much in the body since today's a public holiday in Singapore. The reply came quickly and I deliberated whether I should read the mail or pretend I was on the beach with no reception. Till tomorrow morning. The Gen-X in me overpowered all subsequent generations. "Just letting you know there is no attachment." Just because I did not use the word "attach" or "attached" or "attaching", the System failed to remind me that I might be making a rookie Office mistake? I thought we are living in the Matrix 365 which eliminated the need for any human intelligence. Happy Vesak Day. And if you feel a bit Groundhog Day (the movie for those under 30) about Buddha's big day, that's because Vesak Day is celebrated on different days in different countries: https://lnkd.in/gxefgTz5 Every country in Asia works differently even though they are in the same region. It's hard for one person to be the All-Asia Specialist - even Shohei Ohtani who can hit and pitch plays in a team. Find out more about our multi-PM Asia-focused ASV Fund at: www.gao-cap.com If you don't believe me you can hear from Jimmy Yang why Asians are actually different from one another: https://lnkd.in/gC23KD-n Afterall he can tell what's a Hotdog or Not: https://lnkd.in/gj4WTTPb Credit: Thangka painting from Laddakh, India #hedgefund #attachment #nothotdog

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🌏 Does it pay to do the right thing, even in diplomacy? Feeling pride and nostalgia after the Shangri-La Dialogue in Singapore. As a former MINDEF policy officer, it's inspiring to see how far this dialogue has come. Addressing tough geopolitical issues like Ukraine showcases Singapore’s ability to punch above its weight. Singapore’s decisive sanctions on Russia after the 2022 invasion, a rare move, sparked debate among friends over its wisdom. 19th-century British statesman Lord Palmerston once said that there are no eternal friends or enemies, only eternal interests. But it’s not always just short-term calculations. Doing the right thing can align with our interests - if we take a long view. Singapore's interests and very survival as a small state are grounded in a world order that respects international law and national sovereignty, not just military or economic might. Navigating specific steps is always tough. Singapore’s leaders were non-committal about upcoming peace talks at the dialogue, showing careful consideration. I trust their judgment, guided by our foreign and defence services. But overall, I'm glad our leaders see interests as being grounded in values. A higher authority than Palmerston says, "Righteousness exalts a nation" (Proverbs 14:34). Our influence is stronger when it is anchored in integrity. Have you ever found doing the right thing difficult but did it anyway, be it in business or in your personal life? #ShangriLaDialogue #GlobalSecurity #Singapore #PrincipledStand #Leadership #Integrity #Ukraine #Support #MINDEF

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In a sincere effort to clean up Singapore’s financial system, some harsh measures are indeed necessary. Not even the director general managers are spared from “diplomacy”. All will have to follow the uncompromising rule of Singapore as it strives to become the next financial hub of ASEAN. With geopolitical turmoil in greater Asia and hundreds of thousands of natives fleeing Hongkong as “immigrants” statuses to Canada and the UK, this is never a better time to invest in Singapore. I am Dr. Leonard Tan. An over-qualified quant by high impact, scientific publications. I am in the business of creating generational wealth and protecting legacies for high value individuals. Connect with me if you would like to learn how to grow your wealth amidst all the chaos and noise. Do you consider yourself amongst the high value persons - looking to protect your wealth? Follow me, like my posts and connect with me. Your supportive actions help me bring the news and insights closer to you. Jail for MFA director-general in case linked to use of diplomatic bag service https://lnkd.in/gnimzpz4

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#GlobalBusiness #FDI #Singapore What actionable international insights do you need to grow your revenues globally? Hello, I'm Lucie Newcomb, CEO of The NewComm Global Group, Inc., "Global Business Success From the Inside Out" (sm). If you're ready to #GrowGlobal, please DM here or complete our go-to-market assessment today (link in Comments) for a free consultation. Let's get started!

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"The Singapore-based firm wants to reduce its exposure in the world’s second-largest economy to 10-20 per cent of its expected S$200 billion in funds under management by 2028, it said in an investor day presentation on Friday (Nov 22). In doing so, the company may incur “potential fair value or divestment losses” that impact near-medium term non-operating earnings, it said. Its current exposure to China is 27 per cent of its S$113 billion in funds." Current value of Chinese assets: 27% of SGD113b = SGD30.51b Targeted value of Chinese assets as part of portfolio: 10-20% of SGD200b = SGD20b to SGD40b. Hey, right smack in the middle. "The company said in an emailed statement that it was “fully committed” to its China business and intends to grow its funds there with local capital. Diversification is part of its plans to grow as an asset-light real estate manager, it said. "

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Malaysia's sovereign wealth fund, Khazanah Nasional Bhd., is launching a new venture capital fund worth up to 3B ringgit ($627M) to invest in Southeast Asian startups. This initiative is a collaborative effort with the local pension fund Kumpulan Wang Persaraan Diperbadankan (KWAP) and Blue Chip Venture Capital. The fund is part of Malaysia's broader efforts to transform its local startup ecosystem into one of the top 20 hubs globally and create a more vibrant venture capital funding scene by doubling funds to $1.4B by 2030. In addition, Malaysia is offering incentives such as office space subsidies and visa exemptions to entice global tech companies and VC firms to set up operations in the country. About 12 global VC firms will be setting up operations in Malaysia, according to Prime Minister Anwar Ibrahim. Global VC and PE firms committed 17.6B ringgit ($3.6B) to Malaysian startups in 2023, up from 3.3B ringgit ($689M) in 2006.

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