“At 50, everyone has the face he deserves,” wrote George Orwell. Having celebrated its 50th anniversary last August, Singapore has impressed the world with its exceptional transformation from a third-world port to a first world affluence in a single generation after ending the short-lived federation with Malaysia. And Malaysia, which also didn’t disappoint the world, acted as a locomotive in ASEAN and with the Vision 2020 borne in mind, and has been developed into a newly industrialized market economy. No doubt these two emerging countries have been chosen as the destinations of study trip for GLOBE students this year.
Every year, the international cohort of students from The Chinese University of Hong Kong (CUHK) Business School, Copenhagen Business School (CBS) and The University of North Carolina at Chapel Hill (UNC) together join a credit-bearing study trip to Asian countries as part of the curriculum to have a glimpse of real business issues in Asia by visiting firms and attending seminars. This year, in Singapore and Malaysia, these GLOBErs visited a wide variety of firms across a comprehensive spectrum of business, from manufacturing to banking and finance, and from logistics and marketing during the 10-day journey. The variety has presented the different perspectives into the development of the countries, as well as the direction of future transformation to the participating students.
“It is a valuable opportunity in developing GLOBErs’ the geocentric perspectives for them to have the international mind-set. As GLOBErs, we always think global, and act local,” commented Dr. John Lai, Assistant Dean (Undergraduate Studies) and Director of Global Business Programs at CUHK Business School.
Government initiatives have been the key recipe of success, as seen in Singapore’s Orchard Road Business Association (ORBA) to support the regional tourism growth and Malaysia Investment Development Authority (MIDA) to create impetus for the country’s industrial development by assisting companies to invest in the manufacturing and services sectors. From visits to Sky Thomas Food Industry and Inari Technology, the momentum of manufacturing growth in Malaysia has never been so tangible by observing how the secret recipe of noodle soup or computer chip can generate millions of dollars.
The banking and finance industry has also revolutionized from conventional banking products to cutting-edge financial innovation. Visits to United Overseas Bank and BASH (Build Amazing Start-up Here) in Singapore have been eye-widening for their endeavour to incubate innovations, especially in the areas of fintech, the next banking frontier. The company presentations have undoubted been introspective to us as Hong Kong students, to reflect upon how we can maintain our competitive edge as the Asian financial centre. Malaysia, on other hand, has developed into a centre of Islamic banking, according to the seminar in Kuwait Finance House, which is the first bank operating in accordance with Islamic principles of Shariah and has emerged as one of the leading Islamic banks in the world. Islamic finance was a relatively new concept to us so the visits have received huge interests from us.
The GLOBErs were well-received by Prof. Dato’ Michael Tio, Managing Director and Group Chief Executive of PKT Logistics Group, Dato’ CC Ngei, Managing Director of Feruni Ceramiche Sdn Bhd and Tan Sri Dato' Paduka Dr. Fng Ah Seng, JP, Founder and Chairman of Epic Valley Holdings Group and gained deeper insights into Malaysian business environment and culture.
Apart from the many visits and seminars, the study trip has also been delicate memories that further bond the GLOBErs from three continents together, from drinks at the rooftop bar of Marina Bay Sands, a three-towered hotel, casino and convention centre, to the night card game of “hearts” at the hotel on the Pangkor Island.
“I certainly enjoyed the company visits and sight-seeing in Singapore and Malaysia, but the interactions with the CBS and UNC students were what made the trip truly memorable. I treasure those experiences and hope that this study trip will benefit many more batches of GLOBE students to come,” said GBS student Nicholas Lam from CUHK Business School who still vividly remembers his memories of the days and nights that brought so much laughter to the trip, as well as the heated debates that brought him deep insights into the three different cultures.
