eurofinance singapore 2015

Wednesday 20 - Friday 22 May 2015 Suntec Convention & Exhibition Centre Singapore

Official lead sponsor Official sponsors Technology and market data sponsor

Global sponsor

www.eurofinance.com/asia

New Venue! – New Formats! – New Topics! KYC FX volatility Payments solutions Liquidity optimisation RMB regulation update China’s banking crisis Plus many more...

Treasury on a tightrope: Balancing innovation and growth with regulation and uncertainty

EuroFinance’s 21st annual conference on

International Cash, Treasury & Risk for Finance Professionals in Asia

Pioneers on the path to RMB freedomJackson Xu, Regional Treasurer, Alstom

A riddle, wrapped in a mystery, inside an enigmaMichael Pettis, Author & Finance Professor, Guanghua School of Peking University

What is innovation and does it matter?Mark Gallagher, Formula 1 Executive

2 | The most prestigious treasury and finance event in Asia

“A great event. The ability to listen and learn from my peers is invaluable.”

— Thornton Williams, Treasury Manager, Fletcher Building Ltd, NZ

“An important annual network event for those with an interest in treasury.”

— Sophia Porcelli, Regional Treasurer, Akzo Nobel, Singapore

The most prestigious treasury and finance event in Asia

Save up to $810 – Book by Friday 27 March 2015

27%Vice President / Assistant Treasurer / Controller

21%Manager

5%Consultant /

Analyst / Supervisor

47%Treasurer / Director /

Head (Managing Director / President / CEO / CFO / COO

Who are our delegates?

Follow the conversation: @EuroFinance | #EuroFinance

Join our LinkedIn group:eurofinance.com/linkedinasia

The most prestigious treasury and finance event in Asia | 3

NEW FORMATS! Speakers’ Corner – An all new opportunity to talk to our

speakers one-to-one and delve deeper into topical discussions Open Spaces – Speakers join the audience to debate and discuss key

industry topics in our brand new interactive format

NEW TOPICS! Disruptive risks Top treasury innovations and opportunities Essential China

PROGRAMME HIGHLIGHTS The top FX hedging mistakes and how to avoid them Page 6 Keeping the regulators happy: From KYC to sanctions Page 6 Cash and treasury in China: The deregulation dimension Page 7 The ASEAN update Page 7 What is innovation and does it matter? Page 8 A riddle, wrapped in a mystery, inside an enigma Page 11

The world is at an inflection point. The US recovery is showing positive signs, the Eurozone is a question mark, emerging market growth is lower than pre-crisis levels and in Asia everything, as always, depends on China.

But there is another view. The past decade has been one of above- average expansion, even including the years of the financial crisis and in many emerging markets there has been success in implementing structural reforms. In this view, global growth is not such an issue and there are grounds for optimism.

However, this split makes the world a tough place to do business and nowhere is this more keenly felt than in treasury, where risk must be managed, cash flows corralled and efficiencies wrung.

This world-class event will focus on the key role of centralised treasury in driving business forward and how to balance growth with regulation and uncertainty.

Get the latest innovations from the world’s top companies, banks and solutions providers and reap the benefits of their insights and experience. Plus, we give you the chance to help shape your treasury going forward.


Treasury on a tightrope: Balancing innovation and growth with regulation and uncertainty


The conference venue and hotel bookingsSuntec Singapore Convention & Exhibition Centre | 1 Raffles Boulevard, Suntec City, Singapore 039593 | www.suntecsingapore.com

For preferential rates at the local Pan Pacific hotel please book through Zibrant, our official accommodation bureau, either via www.zibrant.com/efc or by calling +44 (0)1332 285 518. EuroFinance strongly advises that you reserve your hotel accommodation as soon as possible as rooms will be subject to availability at the time of booking.

DAY 2Innovation and opportunities for treasury

08:00 Refreshments and exhibition opens

09:00 Welcome

09:10 What is innovation and does it matter?

09:50 Cryptocurrencies: Should you care?

10:20 Treasury Verdict: Your thoughts?

11:00 Refreshment break and Speakers’ Corner

11:40 Conference splits into two streams

STREAM 1 – Getting the right liquidity optimisation

11:40 How information and data really will transform liquidity

12:20 Talking about a revolution

13:00 Lunch

14:20 Effectively managing volatility

15:00 Cash flow forecasting: A journey


16:20 OPEN SPACES – Managing and investing your liquidity

STREAM 2 – Current trends in treasury

11:40 Gather it, manage it: Dashboards to use information flows

12:20 All payment paths lead to the centre

13:00 Lunch

14:20 The message is ‘mobile’

15:00 Managing a tough time for oil companies


16:20 A speedy route to payments centralisation

17:00 Adjourn to day three

DAY 3All things China


09:00 Darkness at the end of the tunnel? Doing business in China

09:30 A riddle, wrapped in a mystery, inside an enigma


10:40 The future of the RMB

11:30 From treasurer to finance leader: China to Asia

12:10 Lunch

13:10 Solid knowledge of China makes treasury flow

13:50 Pioneer on the path to RMB freedom

14:30 Conference summary and questions

DAY 1Tricky timing for treasury: Managing cash and treasury risks

08:00 Registration, refreshments and exhibition opens

09:00 Welcome to the 21st international

09:05 Opening address

09:10 The trouble with left field

09:40 Future risks; future perspectives


11:20 The top FX hedging mistakes and how to avoid them

12:00 Can technology tame risk and cash issues?

12:30 Lunch

13:50 Keeping the regulators happy: From KYC to sanctions

14:20 Coping with regulatory risk: Implications for treasurers


15:40 Conference splits into three OPEN SPACES A new EuroFinance format with expert contributors including economists, regulators, banks and a number of corporates in a relaxed setting discussing topical challenges and how to deal with them. Sit back and listen or raise questions and add to the conversation – the choice is yours. Choose from one of the following three sessions:

OPEN SPACES 1 – Tricky timing for treasury: Managing cash and treasury risks

OPEN SPACES 2 – Future funding conundrums

OPEN SPACES 3 – The ASEAN update

17:20 Adjourn to the Treasury Networking Reception

Programme | At a glance Wednesday 20 - Friday 22 May 2015


Tricky timing for treasury: Managing cash and treasury risksChaired by: David Blair, EuroFinance Tutor & MD, Acarate, Singapore

11:20 The top FX hedging mistakes and how to avoid them

Despite all the academic research and all the regulatory definitions, the problem of how best to manage foreign currency exposures has tested corporate treasurers. It is hard to measure success, yet easy to see cost. It is difficult to create KPIs. And rapid business change makes it hard to maintain consistency or, where necessary, to tailor hedge programmes to keep pace. In addition, companies continue to make basic errors in hedging strategy and implementation. These include taking directional views, poor business forecasting, asymmetric policies on losses and profits and creating unnecessary volatility through the use of inappropriate instruments. All these are common and all are straightforward to cure. In this panel, discover how FX hedging can go wrong and how best to ensure that it doesn’t.

Jarno Timmerman, Head of Treasury, SEAP, Akzo Nobel, Singapore Jan-Martin Nufer, Director Treasury & Funding, Borealis Group, Austria Edoardo Sirtori, Group Vice President, Head of Treasury, Asia, STMicroelectronics, Singapore

12:00 Can technology tame risk and cash issues?

Treasury has a key responsibility to ensure that a company’s daily financial operations are sound, secure and efficient. In order to do so, technology has begun to play a bigger and bigger role. From currency risk to broader enterprise risks, what technology choices are relevant? Treasuries must able to run stress tests, scenario analysis, sensitivity analysis and other key risk analytics. And these analyses must be available in digestible reports so that time is spent analysing risk, not managing the data collection process. Ideally, systems and software will be able to capture financial, operational and compliance risks across the enterprise and provide valuable intelligence that can be used to drive decision-making. The problem is which system to choose? And then, how easy is it to integrate with legacy software and processes? The latest hardware and software promise a paradigm shift in capabilities, but is the cost and complexity of implementation realistic for ‘normal’ corporates?

Moderated by: Victor Penna, MD, Head, Treasury Solutions, Transaction Banking, Standard Chartered, Singapore Sherwin Siregar, Deputy CEO, Atlas Sound & Vision, Singapore Philippe Rousset, Chief Financial Officer – Asia Industrial, Veolia Water Technologies, Singapore

12:30 Lunch

08:00 Registration, refreshments and exhibition opens

09:00 Welcome to the 21st international Asia

Carolyn Meier, Managing Director, EuroFinance

09:05 Opening address

Noel Quinn, Group General Manager & Regional Head of Commercial Banking, Asia-Pacific, HSBC, Hong Kong

09:10 The trouble with left field

The world economy faces persistent low growth. The Eurozone is still a worry and political event risks are high. The IMF writes about an unprecedented and synchronised slowdown in growth and rise in debt in emerging economies too. Regulation threatens everyone from banks to borrowers, to tech companies hurt by fears about snooping and data protection to derivatives counterparties. China is an enigma, its financial system opaque, its currency in transition, its population restive. Cybercrime and Cloud risks create new problems daily for MNCs. And demographic and systemic conflict seems to be spreading, as do potentially pandemic diseases. How do corporations manage these conjunctions? How do they isolate the financial and operational effects? Can a company cope?

Paul Mackel, Managing Director, Head of Asian Currency Research, HSBC, Hong Kong

09:40 Future risks; future perspectives

What’s the state of play with treasury: strategic or not? What does the CFO expect from treasury? What are the mandates now and what will they be in the future? What are the emerging trends and key challenges and risks for treasury? This session will talk about the treasurer of the future, the problems and pitfalls. With key insights from the 2015 Deloitte Global Corporate Treasury Survey this session will report on your key challenges such as volatility, cash repatriation, global visibility and whether or not companies really have the right infrastructure to support their treasury. From in-house banks and shared service centres; from restricted economies to cyber threats and BEPS, hear about global treasury perspectives.

Aron Akesson, Regional Treasurer, Carlsberg, Hong Kong Benny Koh, Managing Director, Treasury Services South East Asia, Deloitte & Touche LLP, Singapore Melissa Cameron, Global Treasury Services Leader, Deloitte & Touche LLP, US Brenda Oh, Asia Treasurer, GE Energy, Singapore Edwin Tey, Treasurer, Global Logistics Properties, Singapore


DAY 1 | Plenary sessions Wednesday 20 May 2015

13:50 Keeping the regulators happy: From KYC to sanctions

It was once common for executives in Asia to claim that they had little to fear from the impact of the huge re-regulation programme occurring in the US and Europe. Not anymore. Increasing regulation creates significant costs and risks for organisations in Asia, just as much as it does elsewhere. And it is not simply that extra-territorial rules, such as FATCA, create local problems. Businesses that ignore global norms face sanctions in key international markets. More challenging still, local regulators have started to show an interest in copying international regulations and methods. So, in Hong Kong, for example, civil (instead of criminal) law is being used extraterritorially against offshore parties. What are the key regulatory impacts and what you need to know and do now?

Frank Morisano, Managing Director, Ma Lee Advisory Ltd, Hong Kong

14:20 Coping with regulatory risk: Implications for treasurers

Confused by the ever increasing burden of regulation? Well, you are not alone. Regulatory risk tops the treasury agenda in EuroFinance research worldwide as companies are increasingly concerned about their compliance to issues like sanctions or the impact of wide ranging regulation in the bank and markets space. Solutions providers, banks and consultants say that companies are looking for detailed solutions to ensure they are compliant globally. From KYC issues to the challenges surrounding FX, FATCA and continued bank legislation, this panel will describe the best and most cost effective ways to handle the legal, regulatory and reputational risks that Asia-based treasuries must now manage.

Michael Sack, Head of Treasury & Financing, Sivantos Group, Singapore Kristen Tiner, Head of Risk Segment, Asia Pacific, Thomson Reuters Jonathan Woodward, Head of Asia Pacific, FXall, Thomson Reuters, Singapore


15:40 Conference breaks into three OPEN SPACES A new EuroFinance format with expert contributors including

economists, regulators, banks and a number of corporates in a relaxed setting discussing topical challenges and how to deal with them. Sit back and listen or raise questions and add to the conversation – the choice is yours.


OPEN SPACES 1 Tricky timing for treasury: Managing cash and treasury risks

Chaired by: David Blair, EuroFinance Tutor & MD, Acarate, Singapore

Fears of a hard landing in China, a banking crisis, an explosive deflation of the housing bubble or a slump in the renminbi have all been global talking points for the past three years. And recent data have encouraged the doomsayers. Money supply growth has been subdued, the shadow banking system continues to worry, the current account surplus has been under pressure and a correction in the renminbi as the dollar strengthens could cause further problems.

In the rush to adopt the renminbi the benefits for trade settlement, for payments processing and for funding, have been well documented. But there are risks too. The most obvious is the complexity of the operating environment. For example, in just a few months at the end of 2014, SAFE, China’s State Administration of Foreign Exchange, announced the revocation and expiration of 34 foreign exchange regulations and said it would publish a new catalogue of foreign exchange rules by the end of 2014. SAFE is then joined by the PBOC in the oversight of international payments, making it even harder hard to discover what is and is not permissible. This in turn forces companies to rely on local banks for advice and execution, creating counterparty and operational risk with opaque institutions. And adopting the renminbi means adopting unfamiliar local practices and financial instruments.

Aron Akesson, Regional Treasurer, Carlsberg, Hong Kong Rachel Miao, Finance Director, Dover Corporation Regional Headquarters, Asia Ernest Mui, Director, Treasury & Tax, Knorr-Bremse Asia Pacific, Hong Kong


DAY 1 | Plenary sessions and OPEN SPACES Wednesday 20 May 2015

Treasury PerspectivesEuroFinance’s annual publication

Download the app for FREE!www.treasuryperspectives.com

OPEN SPACES 2 Future funding conundrums

Chaired by: Frank Morisano, Managing Director, Ma Lee Advisory Ltd, Hong Kong

Where are the world’s banks in terms of Basel III recommendations? Are they safer? Have banks completely changed their client groups? Have they ditched some products and added others? Hear some lively discussion about where the global and regional banks are within the Basel III framework? How has it impacted the financing of companies, particularly in Asia? Where are companies focusing their funding strategy? What has changed so far and what can we expect in the next five years. What are the current thoughts on trade finance and supply chain initiatives as a part of corporate funding strategy. What are the alternatives out there? Discuss your funding strategies, hear about new opportunities and weigh up your financing risks for the future.

Jan-Martin Nufer, Director Treasury & Funding, Borealis Group, Austria John Paul Wanek, Head of Corporate Finance, Sahara Energy Resource, Switzerland Deepak Chandran, CFO, Wipro Consumer Care (International), Singapore


OPEN SPACES 3 The ASEAN update

Chaired by: Isabel Cao, Head of Editorial & Programmes, Greater China, EuroFinance

Join this essential update to learn more about tax and legal changes as well as the economic outlook and the opportunities for companies in countries like Myanmar, Vietnam, Indonesia, Thailand, Malaysia and the Philippines. This is your opportunity, if you choose, to ask questions of our expert panel on how to solve your cash and risk issues in these countries. Learn about upcoming changes, the banking situation, trapped cash issues and more.

Glenn B. Maguire, Chief Economist, South Asia, ASEAN & Pacific, ANZ Research, Singapore Stephen Hogan, VP Regional Treasury Asia Pacific, Corporate Finance, Deutsche Post – DHL, Singapore Vaishali Bhat, Finance Director – Supply Chain, Global Baby Care, Procter & Gamble, Singapore Andrew Smith, Deputy Head of Banking, Global Banking & Markets, HSBC, Malaysia



DAY 2 | Plenary sessions Thursday 21 May 2015


09:00 Welcome

09:10 What is innovation and does it matter?

What is innovation? Can companies really be cutting edge? Everyone faces challenges in being innovative whether it is treasury, tax, finance or product development. Entire corporations face a constant pressure to innovate. How can leading-edge thinking be applied to the corporate structure so that it can be the difference between thriving, surviving or failing? Join us for our keynote speaker who shares informative and entertaining insights into the future of technology, and its impact on individuals, society and companies and how leading edge really matters.

Mark Gallagher, Formula One Executive, UK

09:50 Cryptocurrencies: Should you care?

Dell accepts bitcoins. Virgin Galactic will let you buy a flight into space with them. And California has made them legal. Is this the trickle that becomes a flood? One way to answer is to look at what benefits the users of cryptocurrencies gain over conventional units of account. Anonymity, the key initial benefit, is of no use to business. Reconciliation requires identities. Efficiency and low cost in international transactions, other touted benefits, are available in the conventional markets, with better security. And the FX argument – that using cryptocurrencies avoids foreign exchange costs – will only work after everyone has adopted. More importantly, will cryptocurrencies fall in line with developed market regulations on auditability or will their failure to adapt mean they will not succeed? So will they grow up? And what happens if they do?

Jon Matonis, Founding Board Director, Bitcoin Foundation, US

10:20 Treasury Verdict: Your thoughts?

For this year’s event, we have advance polled you on the key topics facing treasurers, with an emphasis on your role as your company’s guide through the current maelstrom of change. We have collated your responses and our panel of treasurers will reveal your answers on some of the key issues you have voted on. Share your thoughts with your peers and colleagues by voting in this session on key trends, risks and opportunities in Asia. Join this up-to-the minute discussion and help us delve deeper into your thoughts and the issues faced by you and your peers.

Sponsored by:

Wee Chye Kin, Head of Transaction Banking, APAC, BNP Paribas, Singapore Richard Nield, VP Treasurer, Cargill Asia Pacific, Singapore Antti Kyyro, Head of Regional Treasury, APAC & India, Nokia, Singapore


11:40 Conference splits into two streams

Innovation and opportunities for treasuryChaired by: David Blair, EuroFinance Tutor & MD, Acarate, Singapore


Discover new international treasury techniques Build a risk-orientated approach to treasury Learn advanced cash fl ow forecasting

International treasury training from the leading global provider

For more information:

www.eurofi nance.com/summerschool or email marketing@eurofi nance.com

Learn international treasury ...in just 10 days!

3-14 August 2015 | London, UK

SUMMER SCHOOL 2015

Save up

to £2,700!

Register by Friday

15 May 2015


DAY 2 | Stream 1 Thursday 21 May 2015

11:40 How information and data really will transform liquidity

The perfect liquidity management system would foresee, in real time, every internal liquidity demand. It would automatically call on external credit lines, but only when it had exhausted internal supplies or if external funding was cheaper than internal. Its flexible algorithms for sweeping and pooling would change to accommodate daily business fluctuations. It would run scenario analyses and stress tests, based on market data and treasury predictions for interest rates, tax rates and counterparty risk. Such a system would, by definition, require total integration between TMS, CRM systems and ERP systems to give a real-time, big-picture view. Big data is the mechanism for both this integration and the analytics and automation that can follow. It is the combination of data and adaptive algorithms that can give treasurers a dashboard showing, for instance, their top 10 liquidity needs on a daily basis. But what is the reality with data and what can be done cost effectively with real products available now?

Moderated by: Thomas Schickler, Managing Director, Global Head of Liquidity & Investment Products, Global Payments & Cash Management, HSBC John Chen, Treasury Director, Asia Pacific, Honeywell, Singapore Alex Koh, Regional Treasurer, WPP Asia Pacific, Australia, WPP Group, Hong Kong

12:20 Talking about a revolution

Evolution doesn’t always come up with the most straightforward solutions. As companies develop their Asian business, they tend to add countries, legal entities and local banking partners piecemeal, as opportunities arise. This magnifies the problems of funding, cash visibility and management in a region already complicated by heterogeneous regulatory regimes. Companies end up with scattered balances, excess cash in the region, poor visibility, excessive borrowing, too many banks and accounts, decentralised FX trading and hedging and inaccurate and manual reporting and analysis procedures. One solution is to re-think the entire legal structure of the business. A single-currency centralised billing and collections centre in one country can remove the need for huge amounts of infrastructure. This is what this company did. Learn how the treasury group overcame the challenges they had in Asia with liquidity management, multicurrency balances, and operational excellence. Hong Kong, Shanghai, and Singapore are potential liquidity and Asia group treasury hubs but are there others? Come and find out – it is revolutionary.

Sudeshna Sen, Treasury Operations, Juniper Networks, India Christina Easton, Managing Director, elemenTEL, India

13:00 Lunch

14:20 Effectively managing volatility

Volatility creates both opportunity and risk for treasurers. As corporations execute expansion strategies, either organically or via acquisition, new and unexpected risks emerge as a potential impediments. To effectively manage the challenges that come with an evolving business model, treasurers require real time information and analytical tools to effectively manage treasury related risks. Coupled with the new normal of FX rate fluctuations and commodity price swings, the ability to predict and capitalize has become an essential component of the treasury function. For treasurers regionally, accurate techniques, methodologies and flexibility are now as important as detailed reporting on variances. This session will cover these aspects in practice as well as reflect on Bank of America Merrill Lynch proprietary research.

Damien Power, VP & Controller – Asia Pacific, Jacobs Dinesh Albuquerque, Director – Regional Sales, Global Treasury Solutions, Bank of America Merrill Lynch, Hong Kong

15:00 Cash flow forecasting: A journey

The importance of accurate forecasting is obvious. It’s hard to manage what you can’t see. But assuming you have visibility, because you have an efficient, centralised treasury model, then what is the next step? Best-in-class cash flow forecasting models must be able to integrate the key inputs seamlessly. They should incorporate impact drivers, be benchmarked against peers and they should be able to highlight gaps in the forecast process through frequent variance analysis. But too great a focus on absolute precision can obscure the ultimate goal of forecasting, which is to provide timely information that can be used effectively by the business. And the best forecasting processes also improve accountability by shifting forecasting ownership to the business groups.Hear one company’s cash flow forecasting journey and the process evolution.

Russell Phillips, Head of Treasury – Asia Pacific, British American Tobacco, Singapore Jasmine Lee Huishan, Treasury Manager – Asia Pacific, British American Tobacco, Singapore


16:20 OPEN SPACES Managing and investing your liquidity

It’s not just the regulatory relaxation on cross-border renminbi that is creating a liquidity management issue. Companies started to hold and use RMB cash balances – both onshore and offshore – for payments and receipts as soon as cross-border trade settlement became possible. Later measures have enhanced cross-border liquidity optimisation via cross-border sweeping and intra-group cross-border lending. But this is just China adding further complexity to managing surplus cash. What are the efficient options in the current environment? In this full afternoon workshop we use a mix of treasurer presentations and expert advice to evaluate the range of investment vehicles available to treasurers, including those for China.

• Choices, counterparty issues and the search for innovation• Boosting returns using new techniques• Money market funds: Higher returns, less regulation and

favourable tax treatment?• Measuring returns: Internal use versus external investment

Subash Pillai, Head of Liquidity Portfolio Management APAC, Goldman Sachs Asset Management, Australia John Chen, Treasury Director, Asia Pacific, Honeywell, Singapore Tony Lam, Asia Treasurer, Valspar Corporation, Hong Kong


Getting the right liquidity optimisationChaired by: David Blair, EuroFinance Tutor & MD, Acarate, Singapore


11:40 Gather it, manage it: Dashboards to use information flows

This company has developed a unique approach to managing information. After moving to Swiftnet, it wanted to be able to take advantage of the data that flowed through Swift as well as effectively use other internal data. This dashboard approach allows the company to slice and dice information in a way that is meaningful for the person needing it. It now has a real time system for true analysis on payments right down to the statement itself. It can analyse cash flow which shows who is burning or sitting on cash in real time. It can also distinguish operating and non-operating cash flows using complex algorithms. All of its treasury centres use the tool to fund the company and to monitor actuals versus forecasts. Other dashboards allow the company to see the flows through its banks allowing it to negotiate fees. Hear about a treasury that has developed tools that actually use the information gathered.

Mario Del Natale, Director, Treasury Operations, Systems & Applications, Johnson Controls International, Belgium

12:20 All payment paths lead to the centre

Payments are a key source of expense and inefficiency for corporates with operations in Asia. Payments are often made via local payments teams through multiple local bank accounts. This creates expense and opacity, with poor visibility and inefficient cash surpluses and overdrafts scattered through the region. Typically the excuse given for this is that Asia is a very fragmented market in which, without the benefits of a single currency to create homogeneity, regulations and other issues prevent true centralisation. And there are issues, both with cash management in general and more specifically in regulated industries and other situations in which expansion must be done via joint ventures. But even where regulations cause problems, there are effective solutions. In the following presentations, a treasurer will explain how they have tackled payments centralisation and optimisation in Asia.

Neil Morrice, Global Director BSC, WorleyParsons Services Sdn Bhd, Malaysia

13:00 Lunch

14:20 The message is ‘mobile’

The latest mobile solutions provide global cash management on smartphones and tablets. Treasurers can approve or release wire payments, transfer funds and manage the key payment processes. Visibility includes not just the bank accounts of the bank supplying the system but all third-party cash management accounts and all transactions by currency. And some systems allow treasurers to carry out scenario analysis on anticipated transactions and to set target balances. Join this session to learn about new technology being offered by your tech and banking partners and how eventually mobile will allow you true payments mobility. The two most common reasons given by corporate treasurers for their non-adoption of mobile are security and the fact that corporate treasury information is too difficult to view on the small screens of mobile devices. But aren’t the underlying technologies secure? Don’t the bank platforms on top of them now offer multi-layered security against both external threats and internal misuse?

Baljeet Kaur, CFO, Bussan Auto Finance India Pvt Ltd, India Neeraj Chhabra, Head Product & Implementation, Transaction Banking, BNP Paribas, India

15:00 Managing a tough time for oil companies

It’s been a really tough time for oil companies with the price of a barrel dropping from $107 to $50 at one point in the last eight months and now price swings that are confusing everybody. This session is an interesting story about the oil industry and the challenges it faces in terms of managing capital allocation, liquidity management and hedging when the underlying assets change violently over the short-term. How do you match a debt capital structure to volatile underlying assets? This session will look at the various financing options from bilateral trade finance lines, revolving credit facilities, borrowing bases, long-dated bonds, reserve based lending structures to pre-export financing facilities . How do these work and which types of debt match the various parts of the business and associated asset? How does hedging of various exposures pan out? What are the inherent challenges in developing cash forecast models?

John Paul Wanek, Head of Corporate Finance, Sahara Energy Resource, Switzerland


16:20 A speedy route to payments centralisation

The key to efficiency in your Asian payments processes is, ultimately, centralisation. As we have already seen there are a number of different ways to achieve this goal. One key enabler of treasury centralisation that is often overlooked by Asian corporates is SWIFT. Many Asian treasurers still believe that SWIFT is for very large conglomerates and not suitable for them. In fact, many medium to large size (in turnover) corporates uses SWIFT, and the majority have fewer than 10 banking relationships. As well as providing a single gateway to multiple banks, SWIFT is also creating a suite of compliance tools, including its KYC Registry, to help banks and customers operate in an increasingly difficult regulatory environment. It has an eBAM offering and corporates can use Bank Payment Obligations (BPO) for trade settlement using ISO 20022 data structures and automated matching on SWIFT’s Trade Services Utility

Joan Lee, Director, Corporate Markets, Asia Pacific, SWIFT, Singapore


Current trends in treasuryChaired by: Carolyn Meier, Managing Director, EuroFinance, UK


DAY 2 | Stream 2 Thursday 21 May 2015


DAY 3 | Plenary sessions Friday 22 May 2015

08:00 Refreshment and exhibition opens

09:00 Darkness at the end of the tunnel? Doing business in China

Profits and margins in China have been exceptional for many MNCs. Some auto giants depend on China for most of their growth. Some retailers’ margins in China have been three times that of Europe and it remains the number one destination for foreign direct investment. But are firms right to rely so heavily on it? First, China is clamping down on corporates perceived to be earning excessive profits. More worrying, these profits have only been generated in what could be an artificial, credit bubble, economy. Right now, they may mask the risks and difficulties of operating in a market with opaque laws and regulation, an all-powerful state and serious problems of corruption and IP infringement. But add a prolonged slowdown in the housing market, or a necessary tightening of credit conditions in the bank and shadow bank sectors or global economic stagnation, and how long will profits in China compensate for the risks?

David Cui, Managing Director, Head of China Equity Strategy, Bank of America Merrill Lynch, Singapore

09:30 A riddle, wrapped in a mystery, inside an enigma

What is really happening inside China’s bank and shadow bank systems? That’s the question taxing those who want to understand the country’s likely political and economic path. Some things are clear: credit growth has been astonishing. With PBOC injections keeping loan growth going, can reported NPLs of one per cent be correct? Bank profit growth is slowing, even the China Banking Association admits liquidity and credit risks are rising as the economy slows and currency liberalisation continues. For some, a banking crisis is almost certain. For others, while a banking crisis is unlikely, debt levels are much too high and a further sharp slowdown is inevitable. For others still, the issues are manageable and with the right reforms growth can be maintained at seven percent. The most pressing problem is deciding the extent of the credit problem and its impact on future growth.

Michael Pettis, Author & Finance Professor, Guanghua School of Peking University, Beijing


10:40 The future of the RMB

The speed with which the RMB hurtles towards full convertibility is impressive. The Chinese currency accounts for an ever increasing proportion of world trade and at least 60 central banks now have reserve exposure to it. What would be the catalyst to change the RMB into a fully-fledged currency overnight? This panel will look at the bigger picture of renminbi deregulation and the role of various centres like Singapore that treasurers should be aware of and make use of the opportunities. Are companies still reluctant or ill informed about the benefits of using offshore RMB products? This session will offer the latest information.

Moderator: Motasim Iqbal, Managing Director, Head, Transaction Banking Singapore, Standard Chartered Bank, Singapore Valerie Tay, Executive Director, International Department, MAS, Singapore Chris Ke, Managing Director, Sinopec Century Bright Capital Investment (Singapore) Pte. Ltd, Singapore Sam Xu, Managing Director, Head, Transaction Banking, Standard Chartered Bank, China Carmen Ling, M.D. Head of RMB Solutions, Corporate & Institutional, Standard Chartered Bank, Singapore

11:30 From treasurer to finance leader: China to Asia

What’s it like to be the treasurer in a market where most of the companies in the world have a play? How do you stand out from the crowd and make a real difference? This former treasurer for China and now finance director for Asia will talk about how to become a partner to the business in China and how to transform your role into one of leadership. To be strategic you also need to be more than an operations support function, you should be evaluating market issues to turn that into a strategic asset for the business. What are the lessons learned from operating in the China marketplace?

Sean Feng, Finance Director, Continental China & Automotive Asia, China

12:10 Lunch

13:10 Solid knowledge of China makes treasury flow

Doing business in China requires gathering knowledge and acting on it continuously. This speaker has been overseeing treasury operations for a number of years in China He will discuss his various roles in managing banking relationships and the mix and limitations of using both foreign and local banks. Hear how he believes that no one bank can provide a one-stop solution to resolving corporate problems in managing liquidity, supplier financing, common trade finance instruments and bank acceptance drafts. Bearing that in mind, how does a company employ best practice on these aspects? How do you overcome your bank limitations? He will share common pitfalls encountered in complying with SAFE and tax rules, particularly with regards to FX transactions.

Tony Lam, Asia Treasurer, Valspar, Hong Kong

13:50 Pioneer on the path to RMB freedom

Fortunately for those looking at RMB liquidity solutions now, a number of pioneering companies and their banks have hacked a path through the undergrowth of written and unwritten rules and created workable structures and processes onshore and offshore. This company has simplified its Chinese operations by using RMB cross-border POBO/ROBO and RMB nettings to centralise payments under a single bank account. Here they explain how they arrived at the solution, the key steps in design and implementation and why the solutions fit their needs.

Jackson Xu, Regional Treasurer, Alstom, Singapore

14:30 Conference summary and questions

All things ChinaChaired by: David Blair, EuroFinance Tutor & MD, Acarate, Singapore

Download the Singapore 2015 app!from14 May 2015

Personalise your schedule Contact other delegates

and set up key meetings Live event updates Social media feeds View interactive maps,

speakers, key event info and more...

www.eurofinance.com/singaporeapp

Sponsors, exhibitors and partners

Bank of America Merrill Lynch is one of the world’s largest financial institutions, providing a full range of banking, investing, asset management and other financial products and services. It is a leading global bank and wealth management franchise and a premier corporate and investment banking and capital market business, providing innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Clients and customers can expect access to a comprehensive suite of world class products, services, and expertise from an organization that serves clients through operations in more than 40 countries and has relationships with 98 percent of the U.S. Fortune 1,000 companies and 83 percent of the Fortune Global 500.

For additional information, please visit:

www.bofaml.com

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges.

Across the planet, we deliver accurate, up-to-themillisecond news and financial information to decision makers who must have the right data at their fingertips. We provide comprehensive knowledge-sharing and research tools to professionals in fields ranging from science and pharmaceuticals to law, accounting and finance. And we ground all areas of our enterprise in disciplined expertise backed by industry-leading technological innovation. Above all, our established and emerging platforms are built on the trust that we work to earn each day, everywhere Thomson Reuters does business. We’re trusted for the decisions that matter most, empowering customers to act with confidence in a complex world.

Thomson Reuters employs more than 55,000 people, operates in over 100 countries and has a history of powering the financial community for over 150 years.

thomsonreuters.com

We are a leading international banking group, with more than 86,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

It is committed to building a sustainable business over the long term and upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, ‘Here for good’.

www.sc.com

Motasim Iqbal, Country Head, Singapore – Transaction Banking T: +65 6596 7278 [email protected]

Deloitte is the largest professional services firm in the world. Deloitte’s Treasury Services offers access to a global network of industry seasoned treasury specialists. We focus on lifetime events for companies including M&A, Transforming Treasury to a Strategic Advisor, FX, Global Liquidity, Cash Repatriation, Cash-flow Forecasting, Treasury Technology Strategy, Selection and Systems Implementation. We are a leading implementer of treasury systems including SAP Treasury.

Deloitte’s Treasury Services are in Australia, Belgium, Canada, China, Denmark, France, Germany, India, Japan, Netherlands, Singapore, South Africa, Spain, United Kingdom and United States.

Currency and commodity market shifts are causing businesses to rethink their supply chains and the profitability of international trade. Growth in restricted markets comes with cash flow, liquidity and hedging constraints. BEPS may reform global treasury operating models and traditional treasury strategies. To learn more about how Deloitte Treasury Services helps navigate the changing world of treasury, visit us at:

www.deloitte.com/us/treasury

For 150 years HSBC has been where the growth is, connecting customers to opportunities. Today, we are one of the world’s largest banking and financial services organisations, with a global network of around 6,200 offices in 74 countries and territories covering the Americas, Europe, Asia-Pacific, the Middle East and North Africa. We combine extensive global reach, notable financial strength, and a long term commitment to our clients. Whether it is working capital, trade finance or payments and cash management solutions, HSBC provides the tools and expertise businesses need to thrive.

Our Global Payments and Cash Management business offers award winning services and solutions to clients ranging from top-tier local corporates and small-to-mid market companies to Fortune 500 multinationals, financial institutions and government bodies. Our wide range of account services, liquidity management, integrated payments and integrated receivables solutions can enhance the way our clients do business.

www.hsbcnet.com

Kee Joo Wong, Head of Global Payments & Cash Management, Asia Pacific T: +852 2822 4888 [email protected]

Mark Troutman, Managing Director, Regional Head of Sales, Global Payments & Cash Management, Asia Pacific T: +65 9119 3712 [email protected]

BNP Paribas has a presence in 75 countries with more than 180,000 employees. It ranks highly in its three core activities: Retail Banking, Corporate & Institutional Banking and Investment Solutions. In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 9,000 employees and a presence in 14 markets, BNP Paribas provides clients with product and service solutions tailored to their specific needs. It is actively expanding its franchise in the region and aims to increase its revenue to €3 billion in Asia Pacific by 2016.

Within Corporate & Institutional Banking, Transaction Banking Asia Pacific (TB APAC) offers integrated flow business solutions to its clients for managing their working capital requirements through Trade Solutions & Supply Chain Finance, Cash Management, Corporate Deposits, Liquidity Management and Correspondent Banking.

www.bnpparibas.com

Mr Wee Chye Kin Head of Transaction Banking, APAC T: +65 6210 1088 [email protected]

Mr Jeffrey Ngui Head of Cash Management Sales, MNC T: +65 6210 1073 [email protected]

Official lead sponsor Official sponsors

Exhibitors Endorsed by

Official publication

Global sponsorTechnology & market data sponsor

Media partnersOfficial PR agency

Fees include: Refreshments, lunch, full documentation and conference materials where available (they do not include hotel accommodation). All fees are inclusive of published discounts. Bank transfer charges are the responsibility of the payer. EuroFinance Conferences Limited reserves the right to alter the programme content, speakers or course at any time due to circumstances beyond their control. Hotel accommodation: For preferential rates at the local Pan Pacific hotel please book through Zibrant, our official accommodation bureau, via either www.zibrant.com/efc or call +44 (0)1332 285 518. EuroFinance strongly advises that you reserve your hotel accommodation as soon as possible as rooms will be subject to availability at the time of booking. Cancellation terms: Receipt of this signed booking form (inclusive or exclusive of payment) constitutes formal agreement to attend this conference/course and cancellation terms apply. Full refunds are available on all cancellations received in writing (letter, email or fax) 28 days before the conference/course start date. NO REFUNDS OR CREDITS AFTER THIS DATE AND ANY OUTSTANDING PAYMENT WILL BE REQUIRED IN FULL. The option to transfer to another conference or course is subject to availability. All confirmation details will be sent upon receipt of the booking form. Attendance fees will not be refunded (irrespective of the date of booking) in the event or threat of war, terrorism or circumstances outside of the organisers’ control. Promotional discounts: EuroFinance regrets that additional discounts received after the registration form has been submitted cannot be retrospectively applied to reduce the original price charged. Dress: Business. Venue: Suntec Singapore Convention & Exhibition Centre, 1 Raffles Boulevard, Suntec City, Singapore 039593. Incorrect mailing: If any of the details on the mailing label are incorrect, please email [email protected]. NOTE: There will be photography and/or filming at this event and your image may be captured by us and used for our business and promotional purposes, in printed publications, videos and/or on our website. By registering for the event you are giving us your permission to use your image in this way. If you have any queries about this, please email [email protected] © EuroFinance Conferences Ltd. | Floor 5, 20 Cabot Square, London, E14 4QW, UK.

1) GO TO WWW.EUROFINANCE.COM/ASIA OR 2) FAX THIS FORM TO +44 (0)20 7576 8531

FOR ALL ENQUIRIES, CALL +44 (0)20 7576 8555 OR EMAIL [email protected]

HOW TO REGISTER

534

To qualify for the early registration discount, register and pay by FRIDAY 27 MARCH 2015

Method of payment

Please debit US$ from my credit card and send me an invoice/receipt.

AMEX Eurocard Mastercard Visa Delta

Card number:

Expiry date: (MM/YY)

Cardholder’s signature:

Date:

Cardholder’s name:

Billing address if different from adjacent:

Please invoice me/my company

Bank transfer to: Barclays Bank PLC Account name: EuroFinance Conferences Ltd Sort code: 206759 Account no: 87799655 SWIFT: BARCGB22 IBAN: GB30BARC20675987799655

Please include the delegate name and code 534 in the transmission details.

Please complete in capitals and black inkPerson making the booking:

Tel:

Email:

Delegate details (please complete this section in full)

Dr/Mr/Mrs/Ms/Miss: First name(s):

Family name:

Position:

Department:

Company:

Address:

City: Zip/Postcode:

Country:

Tel:

Email:

Signature: Date:

EuroFinance is part of The Economist Group. Occasionally, we would like to contact you about new features, events, special offers and for market research purposes.

Tick this box if you’d like to hear from EuroFinance by e-mail Tick this box if you’d like to hear from the other companies in

The Economist Group by e-mail

We’ll assume that we may contact you unless you tick these boxes:

No contact from EuroFinance by post No contact from EuroFinance by telephone

The Economist Group is a global organisation and operates a strict privacy policy around the world. To find out more about our privacy policy, please go to: www.economistgroup.com/privacy.

Are you interested in in-house training? Yes No

Were you invited by a sponsor/exhibitor, if so which one?

Do you have any special requirements? (Eg. diet, hearing loop, etc.)

What is the annual turnover of your company?

under US$25m US$26m–US$100m US$101m–US$500m US$501m–US$999m US$1bn–US$9.9bn over US$10bn

Delegate prices

Register and pay by Friday 27 March 2015 to qualify for the early registration

discount. If payment is not received by this date, you will be charged the full

registration fee.

Members of the corporate treasury or finance functions in corporations

Early reg Full reg

3-day conference US $ 2,190 US $ 2,770

3-day conference + 1-day training course* US $ 3,540 US $ 4,350

1-day training course* US $ 1,375 US $ 1,660

Financial institutions/system suppliers/consultants/lawyers/accountants

Early reg Full reg

3-day conference US $ 2,820 US $ 3,400

3-day conference + 1-day training course* US $ 4,170 US $ 4,980

1-day training course* US $ 1,375 US $ 1,660

Please register me for the following sessions/streams:

Day 1: OPEN SPACES 1 OPEN SPACES 2 OPEN SPACES 3

Day 2: Stream 1 Stream 2

*Please register me for the following pre-conference training course:

Treasury Management for CFOs

FX & Money Markets Simulation Game – Mastering Markets!

International Cash, Treasury & Risk for Finance Professionals in Asia | 20-22 May 2015 | Singapore

You must quote this code when booking:

Terms and conditions

shivanibabber

Typewritten Text

WEB

eurofinance singapore 2015

Economy & Finance