Csuite Magazine - V7 2022

CSUITE-XCHANGE.COM ISSUE NO.
C-SUITE
SAAR BEN-ATTAR
DIRECTOR AT ASCENT
GROWTH PARTNERS PTE.
LIMITED
C S U I T E - X C H A N G E . C O M
CONTENTS
03
Editor's Note
05
12
A..B..C..D… E-S-G!
THE ABCS OF ESG
BY DR MICHAEL GAN -
PARTNER AT KAIROUS
ASIA’S WORKFORCE CAPITAL
AWAKENS TO ESG BY
MOJODOMO
18
23 MASTERING DATA IN
2025
BY DR. AGATHA
WHY DO BUSINESS WONG-FRASER
EXECUTIVES NEED
TO CARE ABOUT
METAVERSE?
BY: JOHN MAN-HO
28
HUEN - FOUNDER
AND CEO AT KODING
KINGDOM
32
ASCENT GROWTH
PARTNERS BY GARY
LAM
AUSTRALIA
36
INTRODUCTION RED
EARTH, SAPPHIRE
WATERS, AND GOLDEN
OPPORTUNITIES BY
ONTEAM GLOBAL ASIA CEO COMMUNITY
AUSTRALIA CHAPTERS PRESIDENT
& COMMITTEE
MEMBERS DIRECTORY
CSUITE XCHANGE CSUITE-XCHANGE.COM Q1 2022
Editor's Note
“The road to success, for 99% of people, isn’t a jump.
It’s a steady incline from one successful project to the
next.” ― Lee Morris
In Asia the number of covid cases remained stubbornly

high. During these uncertain times with the closures of
many businesses and significant shifts away from normal
routines, many members have expressed concerns about
the impact on their businesses. I want to encourage all
founders, business owners, and business leaders in the
Challenge time, We should remember the big picture. This ABOUT GARY LAM:
is a time to focus on — and be grateful for — your family’s Founder at ASIA CEO
safety, health, and well-being. Make building strong family COMMUNITY
relationships a priority. Reach out to neighbors, friends,
and others in your community to check in, offer support, Gary is the Founder of ASIA
CEO COMMUNITY. With over
and connect virtually. We will get through this together. 20 years of Sales and Business
development experiences at
LET'S STAY STRONG, STAY POSITIVE AND STAY Deutsche Bank, Thomson
Reuters, and Western Union.
HEALTHY!
He graduated at Monash
University (Melbourne)
Australia. He has a Master
degree in Applied Finance, a
Bachelor degree in
GARY LAM Computing, and a Bachelor
degree in Banking & Finance.
C-Suite Xchange Chief Editor
03 | CSUITE EXCHANGE
www.csuite-xchange.com
A..B..C..D… E-S-G!
THE ABCS OF ESG
BY DR MICHAEL GAN - PARTNER AT KAIROUS CAPITAL
Environment - Social - Governance... ESG.

These few alphabets have been mentioned a lot lately. What is it? Why is it so important? What do we need to know, and what should we
do about it?
Hopefully, this article will be able to provide some answers, especially for start-ups or SMEs.
I have a quick question - is it right for us to assume that corporations exist with the sole objective of generating immense profits for their
shareholders?
Well, that is technically true, but it is, arguably, an outdated way of thinking. In fact, this was the prevailing thought 50 years ago, and it is
about time when we ought to consider how things have changed.
In 1970, influential economist and Nobel Laureate Milton Friedman wrote in his 1962 book Capitalism and Freedom that "there is one and
only one social responsibility of businesses — to use its resources and engage in activities designed to increase its profits so long as it
stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud".
In 1970, he stated in his Friedman Doctrine, that “the social responsibility of a business is to increase its profits”. He also claimed that
social responsibility will adversely affect financial performance. This so-called shareholder (as opposed to stakeholder) primacy theory
impacted the corporate world of the time, with many of its practices and metrics having stayed on long after that, such as but not limited
to performance measurements, executive compensations, shareholders rights, and responsibilities of directors.
Subsequently, at the turn of the new century, critics affiliated with various schools of thought presented contrasting beliefs to the
Friedman Doctrine. Some even went on to say that this shareholder capitalism theory impoverished the working class and only served to
enrich the corporate elites.
Poor Milton.
To be fair, during his era, there was limited knowledge of climate change, greenhouse gas (GHG) emissions, and their association with
human activities. Marginalization and unequal distribution of wealth was not as pronounced, and there weren’t as many corporate and
accounting frauds. Not to mention, capital markets weren’t as advanced and widespread back then. So, it might be fairer for us to say
that we can’t be too sure if the Friedman ideology played a significant role in these.
Fortune’s 100 Best Companies to Work For was first published in 1984, whereby they compiled the top 100 American companies that
practiced corporate social responsibility. An analysis of companies topping this list revealed that their financial performances were NOT
adversely impacted. Conversely, they have even managed to maximize productivity, corporate efficiency, and the sourcing of superior
management talents!
Climate Change
It comes as no surprise that one of the biggest drivers of ESG is climate change.
The Intergovernmental Panel on Climate Change (IPCC) is a body under the UN whose goal is to advance our knowledge on climate
change. Established in 1988, its first assessment report published in 1990 confirmed the greenhouse effect emitted from human
activities as a major cause of global warming. This led to the development of the United Nations Framework on Climate Change
(UNFCC), which prompted action to be taken in the form of international treaties created to reduce greenhouse gas emissions. Its
decision-making body, the Conference of the Parties (COP) meets annually to assess progress relating to climate change. In fact, this
year’s COP (COP 26) will be held at the Glasgow Climate Conference.
International Treaties
The Montreal Protocol was signed in 1987 to reduce hydrocarbons found to be detrimental to the ozone layer. The Earth Summit (Rio
de Janeiro, 1992) called for ongoing research, meetings, negotiations, and policy meetings on climate change. Then, there was the
Kyoto Protocol (1997) and the Paris Agreement (2016), whereby their aims are to hold the increase in global average temperatures well
below 2℃ above pre-industrial levels, and also to pursue efforts that limit the increase to 1.5℃.
IPCC published its 6th assessment report in 2021 (one of three working groups), and this report was said to be “its starkest warning yet”
(The Guardian), and a “code red for humanity” (UN Secretary-General).
In summary, the report stated that it is “unequivocal” that humans have caused the climate crisis, and it is accelerating faster than ever
(in fact, the 1.5℃ limit might be reached as soon as 2030). We do, however, have a 50% chance to limit this increase by dramatically
reducing emissions this decade before the tipping point (of no return) is reached. Furthermore, global warming stays within 2℃ only if
we manage to achieve net-zero by 2050. With that in mind, many countries have pledged to achieve net-zero by 2050, including the 2
largest emitters - the USA (2050) and China (2060).
Frameworks, Goals, and Metrics

ESG is normally used in the context of responsible investing due to the integration of Environmental, Social, and Corporate Governance
factors into the investment and decision-making procedures. It started gaining ground at the beginning of the century and was first
coined in a 2005 study “Who Cares Wins” by the Global Compact, an international initiative started by the UN in 2000. What’s more,
FTSE4Good Index, an ethical investment index, was launched in 2001.
To provide some guidance, a plethora of frameworks have cropped up and these include the most commonly used Global Reporting
Initiative (1997), the Carbon Disclosure Project (2000), the UN’s Principles of Responsible Investing (2006), the International Integrated
Reporting Initiative (2009), the Sustainability Accounting Standard Board (2011), the Task Force on Climate-Related Financial
Disclosures (2015), and the Workforce Disclosure Initiative (2016).
The United Nations General Assembly set up its

Sustainable Development Goals in 2015, which are a
collection of 17 interlinked global goals designed to be a
"blueprint to achieve a better and more sustainable future
for all".
And the latest...
Davos Manifesto 2020: The Universal Purpose of a

company in the Fourth Industrial Revolution. The World
Economic Forum, the International Business Council,
together with the Big Four Accounting firms (Deloitte,
PWC, KPMG, E&Y) came up with a set of 22 metrics
based on 4 key pillars: Principles of Governance, Planet,
People, Prosperity.
Frameworks will continue to evolve as we further our

understanding of ESG. I would even argue that it will get
simpler and easier to implement as time goes on.
Why does it matter?

Yes, we all want to save the world, we all want to make the
world a better place for mankind. However, here are a few
reasons why ESG is essential for new and emerging
businesses.
Dry Powder
For any start-up looking to raise funds, available liquidity
and addressing the current trends are very important. As
ESG takes the centre stage, more and more funds need to
become compliant, driven partly by investors becoming
more demanding of it. As a matter of fact, the total assets
under management (AUM) for ESG funds rose 29% in
2020 to USD1.7 trillion (according to Morningstar).
On top of that, corporations (especially those labelled as

carbon polluters) need to diversify into greener businesses
or invest in carbon offsets to reduce their carbon footprints.
For example, Tesla made USD518million from sales of
carbon credits alone in Q1 2021.
Governments will also be investing heavily into

decarbonization as well as implementing a carbon tax and
trading in order to cap the maximum allowable emission.
The Energy Transitions Commission estimates that the additional investment to meet this net-zero deadline is in the region of USD1 to 2
trillion annually, which represents roughly 1 to 1.5% of global GDP. Unsurprisingly, the price of carbon offsets will only increase further
as the 2050 deadline looms. The International Monetary Fund (IMF) has recommended a rate of USD25/tCO2e as a start, increasing to
USD75 by 2030.
Furthermore..
Who will form the majority of investors and consumers?

The answer is simple - millennials. This generation currently forms approximately 34% of the workforce, with both their workforce quota
and spending power expected to continue increasing (partially due to the transfer of wealth from generations before). Millennials are
highly clued in and passionate about ESG factors. Intriguingly, a 2018 ESG Investor Sentiment Study by Allianz, reported that 57% of
millennial investors “turned down an investment opportunity because the company harmed consumers’ health or well-being”.
Many reports have also been published outlining the ESG funds outperforming benchmarks, thereby fuelling further interest in them.
What about talent acquisition

and retention?
Millennials that participated in a 2019 study by
Fast Company echoed similar behavioural trends.
Interestingly, millennials are more willing to work
harder, put in more time, remain longer, and even
earn less pay for an environmentally responsible
company. On top of that, many have opted to
leave companies that did not pay enough
attention to ESG.
Consumers that are buying

your product or service?
They are becoming more selective and conscious
**EY: Sustainable Investing: The Millennial Investor
of ESG factors in their decision-making while
shopping. Digitalization also means more
information regarding ESG is made accessible to
the public.
What then, should a start-up

do?
Technology, in general, is pro-ESG (perhaps
cryptocurrency mining is an exception, but that's a
story for another day). How so? That’s because
digitization reduces wastage, increases efficiency,
removes biases, and promotes inclusiveness as
well as transparency and equality (just to name a
few broad examples).
Primum non nocere (“First, Do no Harm”) -

Taking a leaf out of the Hippocratic Oath that is
sworn by newly qualified doctors, but placed into
the context of ESG. Examine your business
models and operations and identify areas that are
detrimental or potentially problematic.
Nonetheless, I suppose that awareness is an
important yet often overlooked aspect that comes
far before doing no harm. Even large corporations
have been faced with issues and backlash that
greatly affected their operations (e.g., palm oil
exporters in Southeast Asia, and the largest
rubber glove manufacturer in the world).
Measure - We need to start somewhere. And the good news is - there are various frameworks and tools available, as listed earlier. You
can start with selecting a few of the sustainability goals or look into a framework like the Global Reporting Initiative (GRI), which is used
by 80% of the world's largest corporations. Get to know your baselines, such as the environmental components, where energy and
water consumption, carbon footprint, and waste production can be measured quantitatively.
Monitor and Make Strides - Once a baseline reporting is achieved, it is time to break it down into smaller bits by operationalizing it and
setting targets. Corporate culture and policies can be initiated especially for the “social” component - anti-discrimination, ethics, etc.
Ensure these are communicated clearly and championed by all staff members.
Market! - Once you have it, flaunt it! Incorporate ESG data and add them to your social media, marketing material, corporate profile,
and pitch decks. If you are fundraising, address it to your potential investors. There are many impact investing funds that only invest in
eco-friendly companies. Look into carbon credits, you might be in a position to sell. On top of that, there might be various government
grants, tax incentives, and many other opportunities available. In fact, did you know that Southeast Asian super-app, Grab, has a 68-
page ESG report, which is a bigger document than their pitch deck.
ESG & The Tech Giants

Google claims to be the “first major company to be carbon-neutral”, since 2007! What’s more, they’re also the first to be 100% on
renewable energy (2017), and by 2030, to be carbon-free (since its founding in 1998) by utilizing carbon offsets. Meanwhile, Microsoft
says it will be carbon-negative by 2030, and by 2050, they will remove all the carbon the company has emitted either directly or by
electrical consumption from the environment since it was founded in 1975.
On the other hand, Apple, which says it is already carbon-neutral for its global corporate operations, says it will do the same across its
entire business by 2030, including in its manufacturing supply chain and product life cycle. Moreover, Amazon says it will be net-zero by
2040, 10 years ahead of the Paris Agreement. On top of that, Amazon also became the world's largest purchaser of renewable energy
in 2020. Alibaba has also embarked on a decarbonization initiative by raising USD1B in green bonds and shifting its energy usage to
wind and solar power, as well as reducing the use of packaging material and other efforts.
Controversies do exist though.
Some quarters say it is relatively easy for tech giants to achieve net-zero as they can always switch to renewable energy or purchase
offsets (as compared to an oil and gas company for example). However, there are still the S and G boxes yet to be ticked.
For instance, Facebook had some data leaks and issues with labour. In contrast, Amazon and Google faced problems with their
employee unions, whilst Apple was alleged to have broken certain labour laws in an iPhone factory in China.
Conclusion
Planet Earth is in dire straits.
In 2020, temperatures have risen 1.2℃ since the pre-industrial era (1850), and will probably reach 1.5℃ by 2030. Beyond that, we
would have reached a stage of irreversibility in many ecosystems, notoriously labelled the ‘tipping point’. In fact, we’ve already
witnessed the horrifying devastating effects of climate change and it will only get worse.
The good news is, awareness is more widespread now, with increasing advocacy and action. Carbon sequestration in various forms is
becoming increasingly advanced, and with the assistance of technology, we'll be able to identify and support many of these projects.
Global planned carbon capture and storage (CCS) projects soared to 111 million tonnes a year (mtpa) as of end-september 2021, up
52% from end 2020, according to the Global CCS Institute.
Furthermore, emissions trading markets were introduced in the mid 90s, which provided an immediate avenue to support green
projects. In 2020, the total value of carbon markets jumped 20% to USD277B. However, only 21.7% of global GHG emissions will be
covered by 2021, even with more than 78 countries having some form of carbon tax mechanism.
As more parties push the ‘green’ agenda, greenwashing (inaccurate claims by companies of being more ‘green’ than what they actually
are) is an issue that is getting more widespread. Consumers will need to be more discerning and aware of this. Moving forward, clearer
guidelines and more standardization need to be implemented for measuring and reporting ESG metrics, coupled with fraud detection,
enforcement and actionable requirements.
But most importantly, not just businesses, we as individuals all need to play a role, to become more energy efficient, to switch over to
renewable energy, ultimately to reduce our carbon footprints, and to educate others on this topic. We also need to embrace the circular
economy by reducing, reusing and recycling.
DR MICHAEL GAN
Partner at
Kairous Capital
MASTERING DATA IN 2025

BY DR. AGATHA WONG-FRASER
“Mastering Data in 2025” sounds like a movie title. Indeed, it is, as it enables us to
peer into the future based on what will be happening then and guide us working
backward. We can exploit data trends now to become the Masters of Data then. By
2025, countries and businesses who are the Masters of Data will be the most
competitive, most productive and more effective, behaving like “The King of Kings” as
in a video game.
The Power of Data: Top Three Benefits
Predictive Analysis: Historical data can be analyzed, patterns can be detected and used to predict the probability of future
events by using Machine Learning (ML).In 2022 predictability is still limited. By 2025, accuracy will cover most areas. In
2022, we can identify the different mutations of Covid-19, but in 2025, with certainty “What is THE MUTATION” - not a
number of mutation variables.By 2025, successful management of road traffic and congestion, and city planning against
natural disasters will be common. More and more different datasets will be integrated in 2025, crossing different business
and social boundaries, including emotional intelligence data, neuro science data, and brain cells connectivity to predict
human behaviour will be widely used.
Diagnostic Analysis: Better data on correlation from Diagnostic Analysis between different events, compositions,
frequency on risks avoidance as well as business opportunities. Climate and soil data in 2022, for example, fosters
productivity in agriculture and identifies soil qualities for growth for the best types of coffee crops. Our 2022 current
dissatisfaction with the ROI (return of investment) on marketing, especially on social media, will be greatly improved by
2025 with clear indicators of what works and what does not work. Cost cutting, an area which many companies are
focusing on in 2022 will be greatly improved in 2025: cut where it should be cut, decision making based on data is
paramount. In short, make decisions with data diagnostic analysis.
Real Time Monitoring: Monitoringevents in real time for businesses such as customer experience and journey; for government
such as road traffic, national crisis, climate and weather warning, supply chain development is vital and sometimes lifesaving.
Often, we make a joke out of the weather forecast even now in 2022 but by 2025 with data collection and data indicator
improvements, weather forecast will be a blessing.
The Data Journey: Data Success Factors
Data transformation projects often fail at a staggering rate, between 80% (from Forbes) and 70% (from Consulteer). However, I will
focus on the success data journey to 2025. By sharing experiences and lessons learnt on different projects in Asia, we feel more
related to those success factors nearer home. Though we can deep dive into those UK projects we took on.
The Twelve Characteristics of Flawless Data Entry Points (Data Integrity Guarantee)
1. Definition – The definition is agreed and consistent across all departments
2. Measurement – The measurement is agreed and consistent across all departments
3. Entry – Each entry is free of human error and/or computer error
4. System – There are no inherent systemic errors
5. Transfer – Data is passed intact from department to department
6. KPI – The KPI formula is agreed and consistent across all departments
7. Reports – The reports are agreed and consistent across all departments
8. BI Extract – The Business Intelligence extracts are agreed and consistent across all departments
9. Monitoring – There is uniform data monitoring - checking system for all departments
10. Backup – There are procedures to back up Mission Critical Data
11. Documentation – There are Data Management Procedures and Emergency Plans
12. Security – There are Security Procedures in place to protect the data
The Creation of Secret Ingredients (Data Information Sharing by Silos Breaking)
In the movie Kung Fu Panda, Po asks his father: “What is the secret ingredient?”
His father replied: “Nothing! There is no secret ingredient”. Po: “Wait, wait... it's just plain old noodle soup? You don't add some
kind of special sauce or something?”
Yes, there are no secret ingredients within each department. By hiding in its silo, it thinks it has some secret ingredients,
sometimes due to ignorance and sometimes a failure in communication. Projects will succeed if we release each department from
its silo by sharing its internal data and reports. And most importantly, its self-created logic or formulae.
In our successful Cathay Pacific Catering Services (CPCS) Digital Transformation under its CEO at that time Mr. Andy Wong. With his
personal intervention and leadership, we not only broke down the silos between departments within CPCS, but we also actually
built a bridge between CPCS and Cathay Pacific by sharing data that resulted in a reduction of a vast number of on-board wasted
meals.
Where to Start? The Data Audit Check
There is no point diving into the pool before you know the depth of the water. Using the Data Audit is likely to be the most
successful way to Data Mastery in 2025. One of our exciting data projects is with one of the Top Aviation Parcel and Express
Delivery corporations in China.
To save your pain and time, we created a number of data audits even before we arrived at different sites and locations. Our UK
team has created a Custom Audit Builder with a series of questions, with each data audit tailored to each specific site. The
deliverables of the project are automatically generated Key Performance Indicators and Heat Maps.
Below is our Data Assessment App Builder Map (Suite)
To conclude, we want all our readers to be well-covered: not only have we provided the roadmap to success through our Data
Assessment suite, but we also provide the pointers as to why data projects fail.
Final Note: Only by working together, engaging our thoughts, and sharing the problematic issues, can we
guarantee success. You can read more of my insights and contact me through https://askagatha.com/?
page_id=850.
DR. AGATHA
WONG-FRASER
CEO at BPSA Ltd
WHY DO BUSINESS EXECUTIVES

NEED TO CARE ABOUT BY: JOHN MAN-HO
METAVERSE? HUEN - FOUNDER
AND CEO AT
Since Mark Zuckerberg, the Facebook founder, KODING KINGDOM
Metaverse, a Whole New
renamed his company to Meta back in 2021,
metaverse and its related concepts have been World
hot searches on the Internet. Business Metaverse, combined the prefix “meta” with
executives from various industries are all the word “universe”, meant a massive virtual
investigating these 3D virtual spaces, in an environment parallel to the physical world, in
attempt to extract as many business which users interact through digital avatars,
opportunities as possible. But, before digging when it was first coined in Snow Crash, the As time evolved, however, the metaverse
deep into those professional jargons and famous speculative fiction created by Neal has been defined through vastly
concepts, what is metaverse in the first place? Stephenson in 1992. diversified concepts.
For instance, collective space in virtuality, an omniverse: a venue of simulation and mirror world, etc. Nonetheless, among all the definitions,
metaverse is widely considered as a virtual environment blending physical and digital, facilitated by the convergence between the Internet and
Web technologies, and Extended Reality (XR).
Moreover, instead of a singularity concept, the metaverse visualizes more like a spectrum. With the leftmost being digital twins; the rightmost
being digital natives; and the middle being the co-existence of physical-virtual reality. Digital twins refer to sizable and high-fidelity digital
models and assets displaced in virtual spaces, which reflect the physical properties, like motions, temperature, and even function, while digital
natives, often represented by avatars, involve in digital creations in the virtual worlds. Connected ecosystems, such as culture, economy, laws,
and regulations (e.g., data ownership), social norms, can support these creations. Last but not least, co-existence of physical-virtual reality implies
that the metaverse could become a self-sustaining and persistent virtual world that co-exists and interoperates with the physical world with a
high level of independence. As such, the avatars, can experience daily life activities with other users theoretically in the merged and perpetual
worlds, as “Digitalized Real World” and “‘Many’ Virtual Worlds” slowly approaches to each other and converges.
Metaverse, the Gem to be Discovered

Since the 21st Century, technologies have been evolving at an unprecedented speed. From the first website in the World Wide Web to the first
smartphone to today’s metaverse, business executives from all over the world have always tried to utilize these tools to expand their companies
and even the industry they are in. But, why is metaverse different from all the innovations beforehand?
To commence with, metaverse enables high-quality real-time communication between people. Under the harsh conditions of COVID-19,
business meetings or online lessons have been harder than ever before to either arrange or attend, albeit current solutions: Zoom, Google Meet,
just to name a few. Due to the lack of interactions of applications and technical limitations of current hardware, the user experience is barely
satisfactory. For instance, the capabilities of computers limited the video conferencing content to merely people’s faces, to mention the most.
Lack of stimulations makes it more difficult for attendees to concentrate and contribute to the organizations they are working for. It is also time-
consuming and environmentally-unfriendly for workers to commute to their workplaces from their homes.
On the other hand, with metaverse, virtual meetings could elevate to another level. By wearing head-mounted wearable displays (e.g., Oculus
Quest 2) or mobile headsets (e.g., Microsoft HoloLens), realistic built-in environments (e.g., conference rooms and classrooms) offer a more
immersive experience upon joining a meeting. To be more specific, this experience-duality pairs up perpetual virtual worlds with the long-lasting
physical environments, just like an office in reality, but duplicated into the metaverse. This can be done by third-party solutions (e.g., Matterport).
Moreover, with advanced hardware (e.g., hand-held controllers in VR headsets) and latest visualizations (e.g., animated holograms), people can
express themselves by hand or even body gestures, instead of vastly facial expressions in traditional online meetings. This telepresence system
provides an immersive experience for users, giving a realistic sense of depth and occlusion.
These shared experiences and chance interactions will not only raise workers'
interest during work from ‘home’, but also students learning interests on various
topics, as they can enjoy more gestures and sounds interaction.
Apart from providing a more realistic virtual experience, metaverse offers

endless business opportunities for a wide variety of industries as well. In order to
make the metaverse complete, both technologies and ecosystems are essential.
While the former makes the metaverse possible, the latter makes the metaverse
a better place. There are eight enabling technologies, namely Artificial
Intelligence, Blockchain, Computer Vision, Network, Edge Computing, User
Interactivity, Extended Reality, IoT & Robotics; and six user-centric factors:
Avatar, Content Creation, Virtual Economy, Social Acceptability, Security and
Privacy, and Trust and Accountability. With different Application Programming
Interfaces, digital creators will be driven to participate in the Virtual Economy to
generate and design various digital assets.
However, we are only discussing what matters the most:

Artificial Intelligence, Blockchain, and Virtual Economy. First
of all, through machine learning, Artificial Intelligence could
replace humans for laborious and tedious work. Examples
include operating basic website functions, customer
services, etc. All of the above could be achieved through
automation, which enhances efficiency, reduces costs and
hence productivity. E-commerce and corporations in the
tertiary industry could definitely benefit from A.I.
Blockchain, acting as a distributed database, stores data in
blocks. One of the most important characteristics of
Blockchain is decentralization, which means all data is
maintained in a P2P network without a central manager.
This particular feature enables cryptocurrencies to thrive, which are gaining recognition across the globe. Bitcoins, Ethereum and other
cryptocurrencies will be added into the portfolios of big enterprises, just like other stocks. Besides, Non-Fungible Tokens that emerged just
recently in the virtual economy will be the mainstream currency in the near future. NFTs are non-interchangeable units of data stored on a
blockchain, a form of digital ledger, that can be sold and traded. This will definitely encourage digital creators to come up with more and more
fascinating artworks and art pieces, for its lucrative rewards and sound protection in intellectual property rights. Retailing and wholesaling
industry needs to keep an eye on this trend, for cryptocurrencies' popularity and rising legitimacy for payments.
Metaverse, Just Not Yet?

Despite its advantages in a wide variety of aspects, some people still have judgements, or prejudice rather, on metaverse or the whole Web 3.0
concept. To be specific, most of them raise the issue of technological singularity, which is a hypothetical point in time at which technological
growth becomes uncontrollable and irreversible, resulting in unforeseeable changes to human civilization. As Artificial Intelligence continues to
evolve, emergence of superintelligence is expected, which is a hypothetical agent that possesses intelligence far surpassing that of the brightest
and most gifted human minds. However, multiple pieces of evidence have shown that this is simply not true. The velocity of technological
advancement needs to be increasing exponentially in order to make superhuman intelligence plausible. Unfortunately, statistics from the United
States Patent and Trademark Office have shown the number of registered patents has been increasing at a decreasing rate, which proved this
innovation rate is decreasing, making superintelligence and hence its takeover of the world less probable.
Metaverse, a Universe to Endless Possibilities

Given all of the above great contributions the metaverse could offer,
and the potentials that may emerge in the near future, we should all
jump into the metaverse, not just to explore and navigate, but
integrate it in our daily lives. Only if we enter the metaverse faster,
will the content creation be more diverse and plentiful, to an extent
that physical environments are fully incorporated into the 3D virtual
world, Web 3.0 could enter the co-existence of physical-virtual
reality at a faster pace under every user’s contribution. As an ed-tech
company, we are also very excited about education in the metaverse,
including learning history through time travelling; learning
astronomical physics in space, etc. I sincerely hope that children in
the future will get more inspirations and knowledge through learning
in Metaverse.
JOHN MAN-
HO HUEN
Founder and CEO at
Koding Kingdom
Ascent Growth Ascent Growth Partners is a
growth & innovation firm with
offices in Singapore and South
conventional boundaries that
used to define their ‘space’ –
entering new markets,
Partners Africa. Saar Ben-Attar, who

founded the firm in 2016 recalls
‘I have always been fascinated
commercialise new
innovations, connect more
deeply with customers and
by the natural phenomenon of become more agile and
PARTNERING WITH growth. What makes us grow adaptive. This remains a
LEADERSHIP TEAMS TO and how do we come together formidable challenge.
COMMERCIALIZE as an organisation, to achieve
something significant? From Over the past few years, Ascent
MARKET
the outset, the firm recognised Growth Partners has won many
OPPORTUNITIES AND that many organisations were accolades. Featured by Yale
ACCELERATE GROWTH, seeking opportunities beyond University’s School of
IN TECHNOLOGY- their core business. As digital Management at its May 2021
technologies disaggregate Alumni event, for its work in
ENABLED ECOSYSTEMS
existing industries and value helping organisations
chains, organisations face accelerate transformation, in
transformation challenges and industries facing disruption,
growth opportunities that and more recently launching a
By GARY LAM require them to ‘jump’ across strategic partnership with the
Center for the Future of
of Organization at the Peter F. and their leadership team dimensions – from the
Drucker School of would like a second opinion, leadership mindset they
Management, in the US. But they would like to confirm that employ to the management of
the greatest recognition has no ‘navigational errors’ were their innovation portfolio and
come from our clients and made. They would like an how new value can be
partners who reap the rewards objective party taking a data- unlocked along distinct growth
of working together, to achieve driven yet human-centered paths, so they can make more
their growth ambitions and look at their business’ growth informed choices. This does
business outcomes, says Saar. path and bring new insights not necessarily mean a change
into their transition. in direction. In fact, in most
Reflecting on this success, he cases, what clients have
adds ‘We are often called in This is where our Discovery witnessed is an acceleration of
once a client is in the midst of process comes in. With a truly their transition, and especially
transformation. They have a international team and an in these three (3) areas:
clear vision of what they would ecosystem-led approach,
like to achieve, they have taken which can be facilitated Leadership teams adopt
some bold steps and invested entirely in a digital setting, we new mindsets, navigating
in digital transformation, at are able, in a short period of beyond long-held
times have had consultants time, to have a very candid paradigms in their industry
working with them to shape conversation with the – in essence, ‘seeing with
the strategy, but now as they leadership team, assessing new eyes’
navigate the journey, the CEO their transition along multiple Innovations in Technology
as well as Management
practice – with teams
working effectively across
org. boundaries and with
external partners
New capabilities are
acquired – through
partnerships, venturing and
M&A
As example which come to

mind is our work with an
energy company, with a
significant fossil fuels business.
Well respected for their
management calibre and
engineering capabilities, they
have been on the journey to
becoming a cleaner and more
diversified business for over
three years, when we were first
approached. They have made
much progress during this
time, along their digital
transformation, building new
skills and a portfolio of early-
stage investments valued at
over $100m. The Diagnostic
process took just four (4) weeks
to complete, at the end of
which we could have a very
candid conversation about not only their state of progress but new options, to accelerate and solidify their growth.
In a span of a year which followed, they have doubled their clean energy ambitions to a 2 000MW portfolio,
launched innovative partnerships with local economic zones and communities, and have a critical mass of over 200
young leaders, who are driving digital innovation at scale, across the ecosystem, some are building new ventures in
high-growth areas, beyond the organisation’s reach.
With organisations emerging from the pandemic, to face an uneven recovery, shifting customer preferences and
new technologies adopted at a scale not seen before, we are often asked, what can such organisations achieve, in
the midst of transition, over a 5-10 year period? Some time back, we invited renowned economist, Dr. Adrian Saville,
to share highlights of his study into 5 000 organisations in transition, and the results have shown remarkable
correlation with our work. Over a 10-year period, these future-fit organisations and their leaders anticipate new
opportunities, innovate new solutions and outperform their industry peers, by nearly 2:1 (measured by Total
Shareholder Returns)(1)
For any CEO thinking of how to reshape or accelerate their growth and transformation efforts, there could be no
clearer proof.
SAAR BEN-ATTAR
DIRECTOR AT
ASCENT GROWTH
PARTNERS PTE. LIMITED

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