Phoenix, Spring 2005

Abstract

 Phoenix HKUST MBA Alumni Newsletter Spring 2005 Here we Come HKUST Business School Hits the Mainland Messages From the Editor Entry to the Mainland has become the talk of the town for both individuals and corporations, regardless of origin As a World Top 50 business school that sets out to create tomorrow’s leaders, HKUST is also making E its presence felt in the Mainland with its commitment to develop the business community and to contribute to the economy by bringing in first-class management education In this issue of Phoenix, we unveil the many facets of the School’s exciting Mainland plans and invite fellow alumni to become strategic partners in its success Adding colorful insight to the Mainland picture, we also provide stories on alumni from Hong Kong, US and Malaysia, who have now established themselves in Beijing and Shanghai What is PPP’ And what does it have to do with the Financial Times Global MBA Rankings’ Read on to find out what smart MBA alumni really need to know about such tables. As you will see, the School is not the only one in the public eye. MBA-ers continue to hit the spotlight too. Alumni Corner enables you to share the thoughts of one of our earliest graduates and a more recent alumna, both featured in the media. Meanwhile, communication of a different form is on display when we take a look at two alumni‘s artistic works Through photographs and wood sculptures respectively, they introduce us to an inner world we don’t normally perceive Last but not least, congratulations to the newly elected MBAAA Exco, which will be carrying out its R-I-C-H mission and leading alumni to fresh heights A major homecoming carnival, jointly hosted with the MBA Alumni Development Office, is already being planned for the summer This will bring together alumni and students of all years and provide fun for families So mark your calendar and make sure you keep yourself up with the latest on this Enjoy the spring and get set for the summer sun Editor-in-Chief Editor-in-Chief : Kitty Chong (PT03) Contributing Editor : Sally Course Reporters Artwork & Design Printing & Support Please submit letters, stories or photos to rnbaalurnOust.hk To update your correspondence address, please login at www.mbaalurn.ust.hk : Abhishek Bakshi, Andrew Kane, Leonard Zhang, Rita So, Stella Tao (all FT-Year 1) : Page Planner Limited : HKUST MBA Alumni Development Office

Messages A Word From the MBAAA President With the establishment of the MBA Alumni Development Office, we will be receiving more support than ever for alumni development However, the MBAAA will remain an independent body We will leverage our 10 years' experience in order to focus on the strategic development of our association while making the most of the extensive assistance on database management, technical support and day-to-day administration available from HKUST Business School Our goal is to build a strong alumni community through activities, events and more interaction between alumni In this way, we can build a solid foundation to contribute to both the School and Society MBAAA Executive Committee 2005 President General Secretary Treasurer VP External VP Internal VP Recreation VP Recreation VP Membership Benny Tong (PT03) Jacky Mak (PT-Yea r 3) Alvin Au (PT03) Irene Tse (PT04) Sean Lin (PT03) Flora Wai (PT03) Richard Chan (PT-Year 3) Ben KO (PT-Year 2) VP Communications & Public Relations Sassuan Lee (PT03) Our top priorities are to: boost the number of members inspire high alumni participation ensure value-added alumni events strengthen the MBAAA brand build a strong HKUST MBA alumni culture We are pleased to have formed a close partnership with the MBA Alumni Development Office through our R-I-C-H mission: Reunion To unite all alumni through different activities and events International Network Continuous Learning To connect all alumni providing current contact details To make ourselves better through enrichment and sharing Heart for School and Community To care and contribute to the School and society You and your support are important to us So don't wait any longer to play your part. Be a Class Anchor, Event Organizer, MBA Ambassador, join the Exco sub-committee and contribute to Alumni Newsletters. Nothing can stop us from growing Come on! Grow with us. Benny Tong (PT03) President MBA Alumni Association Email: mbaaa@ust.hk Website: www.mbaaa.com

Contents Messages From the Editor A Word From the MBAAA President 3 Contents 5 Cover Story Here We Come! HKUST Business School Hits the Mainland 13 EMBA in the Spotlight Richard Wright: The Art of Communication Joy Lee: Taste for Life Thomas Liu: Ever Ready for a Challenge Contents Campus Link All You Need to Know About Rankings Getting a Move On Tackling the Future of Hong Kong Alumni Ambassadors, Take a Bow! Alumni Corner MBA-ers in the Public Eye Sculpting a Fresh View of Middle-class Life Captivated by Colorful Beijing 25 MBAAA News MBAAA Annual Dinner and AGM 2005 HKUST Wins Oxfam Fundraising Award In the Running at Standard Chartered Marathon Outward Bound Race Offers Another Challenge for the 4th Year

Cover Story H ere We Come! HKUST Business School Hits the Mainland Phoenix reveals the exciting ways the School is strengthening its presence, raising its profile and extending networks for alumni in the Mainland. We start with Dean KC Chan's vision for creating a global brand in cities around the country Our Mission and Strategy HKUST is committed to educate and develop business leaders in Asia and to conduct rigorous research that pushes forward the frontiers of global business knowledge. We believe our training quality and research excellence can help influence the business community and contribute to development in the Mainland. To achieve this, we first need to establish a firm foothold with prominent visibility in different regions of the country to build a well-recognized brand in local markets. A strong corporate and media relationship will enhance our image and strengthen the confidence of our target customers. We also want to tighten our bonds with alumni working or living in the Mainland and to provide them with HKUST support. The Perception Gap: US MBA vs HKUST MBA? still turn first to US MBA programs and the HKUST MBA program, despite its high standard, is not yet widely perceived as a viable alternative. Working t o our advantage is the increasing level of dissatisfaction with the quality of MBA programs in the Mainland. They suffer from a tack of quality staff. So times are changing and our philosophy of quality first clearly sets us apart from the Mainland competition. In the Mainland, there is a 'perception gap needs to be addressed. People in the Mainland Dean K C Chan Meeting of East and West HKUST MBA is a premier international brand which adheres to the best Western standards of education while offering a distinct Asian perspective. People come to HKUST to learn about China and to research and magazines, local newspapers and through interviews with radio stations and television (see p.7-8). The key message is to emphasize that our world-class teaching faculty, research excellence and diversity of students have created an international learning environment that network in order to keep up with China's growth. The HKUST MBA is also a success story about a business school, which first emerged in 1991 and powered forward to stand shoulder to shoulder with the world's best MBA providers in the space of just 10 years. It is part of our strategy that we will not sacrifice quality for quantity or growth. On-the-Ground Teams A team led by Prof. Thomas Wong, Director of China Program Development, was set up in November 2003 to lay the groundwork for Mainland local market development. At present we have an office in both Shanghai and Shenzhen, and our Beijing Center is scheduled to open in May. Current offices have been heavily involved in public relations, program marketing, admissions, career recruitment and alumni services. The Beijing Center, which is equipped with training facilities, will provide a town campus for our corporate clients and students. prof, Thomas Wong Building the Brand In the Mainland, a strong brand awareness, good relationships with the media, and a close partnership with large corporations are the keys to success. We have gained media exposure in a range of nationwide develop business leaders of the future. We offer our expertise to government officials and key corporate staff who want to further their global perspective and they have full trust in our quality given the impressive worldwide rankings we have achieved. A Home for Alumni We have a growing number of alumni who are living in and traveling to major Mainland cities and we want to help them set themselves up when they arrive in these areas, professionally or otherwise. Creating and maintaining an active alumni network is important to provide support and strengthen bonding between alumni and with the School. Relationships in both a personal and business context are crucial in Asian culture. Alumni are also important strategic partners for HKUST Business School development. They can serve as points of entry in developing corporate contacts and building HKUST brand awareness among employers. In addition, they can participate in recruitment talks, refer new students and generally serve as ambassadors for the HKUST MBA program. Most importantly, however, peer-to-peer support and friendships make everyone feel more a t home and part of the HKUST family. Forging the Future It will take time for all these elements to evolve, but with our teams on the ground, our alumni network and media interest, we are well on the way to creating recognition in the Mainland for our premier MBA brand.

Cover Story 31 January, 2005: Dean KC Chan comments on the Chief Executive‘s Policy Address in the 21st Century Business Herald Footprints on 18 January, 2005: Dean KC Chan shares his insights on MBA studies, while HKUST Business School development goes online via SOHU com, the biggest Nasdaq-listed Chinese portal with an audience in the millions New Fortune February 2005 Issue Generation Future IEMBA The International Executive MBA (IEMBA) Program was first launched in 2002, targeted at senior Chinese executives in the Mainland and Hong Kong. It is the first bilingual EMBA program offered by HKUST Business School and is based on the world-renowned Kellogg- HKUST EMBA program, which is Asia Pacific’s number one EMBA. The 15-month program is taught by first- class faculty in Beijing, Shenzhen and Hong Kong. There are now about 80 students and alumni, with representatives from Shanghai Acorn Network Business Co., Ltd., Siemens Limited, China, HKC International Holdings Ltd., Desay Holdings Co., Ltd., China Telecom (Hong Kong) International Limited and Fasten Group Import & Export Co., Ltd and more. The IEMBA Program’s fourth intake commences in July 2006. For more information or program application, please contact Ms. Catherine Lo, IEMBA Program Officer, on 852-2358-8048. Website: www.bm.ust.hk/ExecEd/ ustiemba/en/index.html the Mainland September 2004 Dr. Steve DeKrey, MBA Program Director, is invited to be the keynote speaker at the New Capital Forum, organized by China Talents Online (www jobsdb com cn) for HR managers and practitioners in Shenzhen. 28 January, 2005: Dean KC Chan’s comments on the implementation of CEPA are reported in the People’s Daily International Finance News To view more media reports and stories, please visit w bm.ust.hkfmediafmedia-reports-index. html Business Leaders Executive Education Programs The Executive Education Unit has been working with multinational, Chinese and local corporations, and the HKSAR Government to offer customized programs catering to the needs of individual organizations since 1998. These company programs provide cutting-edge academic knowledge and promote international best practices. Participants are typically top management and

senior executives. The action-learning approach and innovative program design have been well received by clients. The Executive Education Unit was ranked top in Asia Pacific and number 27 in the world for its executive education custom program provision by the Financial Times in 2004. Two open-enrolment programs will be offered this year: “Meeting the China Challenge” (May 9-1 2, 2005) and ” Financial Management for Non- Financial Managers ” (Sept 2005). For more information, please contact Ms. Betty Lau at 852-2358-8947 or Ms. Della Wong at 852- 2 3 58-7 662. Website: www. Bm.ust.hk/exceed/

Latest Moves Beijing Center Ready to Launch Exciting plans are underway for the HKUST Business School and alumni in Beijing. Central to these developments is the opening of a HKUST office in the heart of Beijing’s business district. The 8,000- square-foot Beijing Center, due to open in May, is located in Financial Street , XiCheng District , where the Ministry of Finance and headquarters of 13 commercial banks, state offices, regulatory bodies and commissions reside. The Center will have ample office space and a training room, which seats 60 people, to provide support to clients and program administrators. In addition, conferences hosting up to 700 guests can be held in the auditorium, shared by tenants of the office tower. A research center focusing on finance and China cases studies will be the next key development a t the Center. Winning Partnership HKUST has forged an exclusive partnership with Financial Street Holdings Company Ltd, the major property owner in XiCheng District, and is proud to be the first off-shore university campus in the region to provide management training for senior executives in the area More than 150,000 professionals are a t work in the vicinity of Financial Street HKUST-KPMG Alliance A co-branded partnership between HKUST and KPMG is set to kick-start training for senior executives In June, HKUST-KPMG Executive Education In Accounting and Finance will be launched The pilot program, targeted at finance practitioners, will see HKUST faculty members and KPMG staff working together to provide both theory and real business scenarios in a comprehensive training package East or West, Home Is the Best By Grace Yang, Senior Representative, Begins Center - One of our objectives in setting up the Beijing Center is to create a home in the capital for our alumni. We are planning to have regular monthly activities a t the Center to create more opportunities for alumni to get to know each other better and to develop stronger ties under the HKUST umbrella to support each other in all aspects of life. Another initiative is to establish the HKUST MBA Alumni Association Beijing Chapter. We now have more than 60 alumni from the MBA, EMBA and IEMBA programs in the city. There is also a rising trend for Hong Kong and overseas alumni to come to Beijing for work. With the setting up of the Center, we will be able to provide more services and better assist our alumni. 1 East or West, home is the best. So I hope the Beijing Center 1 will become a second home to our alumni and whenever you are in the capital, you will drop by Phoenix note: Before taking her MBA, Grace Yang (IT04 was Associate Director of the EMBA program at Peking University - 9 Socializing in Shanghai By Maggie Zhu, Senior Representative, Shanghai Office The Shanghai Office looks after local marketing, public relations, provides administrative support, and builds up alumni relationships. Later, Beijing T corporate education training courses may also be run in Shanghai. We now have 70-plus alumni from the MBA, EMBA and IEMBA on Shanghai alumni contact lists with social gatherings held every two months. We also organize joint events with other HKUST alumni. If you are a newcomer or frequent traveler to Shanghai, don't forget to contact me to make sure you don't miss out. W Phoenix note. Maggie Zhu (FT04) joined the Business School soon after graduation. Prior to her MBA, she worked as an Associate Consultant at Shanghai Haulte Management Consulting Co. which focuses on marketing for pharmaceutical and FMCG industries

Bridging the Pearl River Delta By Grace Liang, Senior Representative, Shenzhen MBA Program Our presence in Shenzhen is important for developing corporate relationships in the different cities of the Pearl River Delta, including Guangzhou, Shenzhen, Huizhou, Zhongshan and Dongguan, where a niche market exists to provide first-class executive training for elites with impressive working backgrounds Our two-year, part-time MBA program in Shenzhen closely resembles the part-time MBA program offered in Hong Kong The class meets on Saturdays at the Shenzhen campus In 2003, the Company Nomination Scheme was introduced to encourage valued staff from Mainland enterprises to join our MBA program. Scheme patrons include Desay Corporation, Emerson Network, Federal Express, lntertek Labtest, Mytophome, TCL Corporation and Wal-Mart China. If selected by our admissions panel, candidates will receive a scholarship. Please contact me if your company is interested in joining the scheme Our fourth intake begins in August 2005 Phoenix note. Grace Liang (FT04) runs the Shenzhen MBA program and assists m other marketing and image-building activities for HKUST Business School Prior to her MBA, she worked as International Advertising Manager at ZTE Corporation in Shenzhen. HKUST Business School in the Mainland Beijing Center Address Rm 403 Tower B, Focus Place, No 19 Financial Street, XiCheng District, Beijing Email yqrace@ust hk Fax 86-10-66573565 Te I 86-1 0-66573566 Shanghai Office Address Room A1712, Corporate Avenue, No 222 HuBin Road, Lu Wan District, Shanghai Email zmaqgie@ust hk Fax 86-2 1-63406203 Te I 86-2 1-63406201 Shenzhen Office Address Rm 408, IER. Hi-Tech Industrial Park South, Nanshan District, Shenzhen Email gracelg@ust hk Fax 86-755-26984501 Te I 86-755-26970905

Alumni Events and All Together in Beijing The first Belling alumni event successfully brought together some 40 local and visiting MBA, EMBA and IEMBA alumni from all years a t the Swissotel Hotel on January 27 At the dinner, Dean K C Chan unveiled his Mainland development plan and enthusiasm was generated for the formation of a local alumni group Capital Connections By Sunny Wang (FT03), mbasunny@hotmail.com when I relocated from Hong Kong to Beijlng last year, the first people I tried to contact were HKUST MBA alumni What was I looking for7 Not only networking and business know- how but also the HKUST MBA culture to encourage me in my pursuit of career and life goals That is why it was so exciting to attend the first official Belling gathering of HKUST MBA alumni and to find that supportive HKUST MBA atmosphere being generated at the event It was a great meeting. I was able to talk to successful buddies and hear their stories. In addition, being surrounded by so many smart people and senior figures eliminated any complacency and inspired me to press forward in my work. Development of the HKUST MBA community is eagerly awaited on the Mainland. More and more alumni are doing business in this less strictly regulated market and looking for trustworthy partners, experienced mentors or the right connections. At the same time, MBA alumni can assist HKUST in the Mainland, as a channel for promotion or business development consultants. Just let us know what we can do! Phoenix note: In 2001, after 10 years an executive director in an American representative office in Beijing Sunny Wang joined the HKUST MBA program. She is now

Sharing in the Mainland Shanghai Mixer Party On January 20, Shanghai alumni of HKUST, HKU, CUHK and Beijing University held a mixer party at Grand Regalia This was the fourth gathering of alumni from universities in Hong Kong More than 100 people spent a great evening together with former HKUST President Prof Chia-wei Woo, who shared his ambitious project to turn part of the Yangpu District of the city into a knowledge-based community From Networking to New Business Launch - By Albert Lee (PT03), kowloon/cehouse@hotrnail corn Authentic Hong Kong ”sweet soup” used to be virtually unknown in Shanghai This provided the initial motivation for a group of HKUST alumni, including myself, to get together to create a business Our idea gradually evolved and Kowloon Icehouse, a Hong Kong-style tea and sweet soup customers Local media coverage was also very positive, recognizing Kowloon Icehouse as a leader among its peers In the Mainland there is great emphasis on guanxi, or personal relationships Kowloon Icehouse attracts middle restaurant, was born to upper-class customers and has proved tremendously valuable in helping us establish a social network in Shanghai We can gather there with old friends and we can also meet new people We believed the market was promising and business would grow fast However, during the start-up stage we went through some tough times with marketing, quality control, government relationships and staffing Now our third branch is underway and I am planning on investing in other Initially, differences in staff working restaurants The money side, attitudes meant it was hard to though, is only one aspect What maintain service standards But I is really satisfying is turning a new am glad to say that after one year idea into reality, and the friendship of fine-tuning and continuous and trust that have enabled the improvement our first shop Kowloon Icehouse partners to had built UD a steady flow of succeed Phoenix note: Albert Lee founded an e-business consultancy after his first degree at HKUST And expanded operations to the Mainland in 2002. He helped start Kowloon Icehouse as a side on-executive director of the chain 12 EMBA in the Spotlight Richard Wright (KH05) Media Relations and Government Affairs Director Lucent Technologies I want to show people what they don’t normally see and to bring subtle messages across to show them the beauty that is all around us if only they look. The Art of Communication If communication is indeed an art form, Richard is both a professional artist and an art teacher Currently a media relations and government affairs director for Lucent Technologies, Richard trains his company’s senior management to manage the media while communicating the corporate message He also conducts interactive workshops and guest lectures to HKUST’s full-time MBA classes With experience ranging from lobbying on Parliament Hill in Ottawa to heading the corporate communication department in a multinational company, Richard has learned that communication (the ability to not only communicate with the media but control the message while doing so) is a critical business skill and he wants to share what he has mastered with other people Not only does Richard specialize in communicating complex business messages through journalists, but he also ventures into encoding deeper content through the lens of his camera Three years ago, Richard started to 73 capture objects that caught his attention with his Rolleiflex and Hasselblad cameras. These are usually scenes that at first glance do not garner much attention but, when framed properly in the lens, can convey great beauty and meaning “I want to show people what they don’t normally see and to bring subtle messages across to show them the beauty that is all around us if only they look - to see the newness in flight, a train rushing past, all things that inspired wonder as children but seems to get lost on us all as adults,” said Richard, whose job takes him around the region You can visit www lotuspetals.com for a further look at his work Richard can also make himself available for corporate media training or crisis communications sessions if you need these services Phoenix note: Congratulations to Richard and Yulan who got married in Guangzhou in February 2005.

Joy Lee (KH05) Managing Director, Smartclub Loyalty Management Limited Who was the driving force behind Nike's award - winning ' Local Heroes ' campaign? And initiated the Shanghai 'I'm lovin' it' McDonald's print advertisement series, which went on to win gold medals in the 2004 China Advertising Awards? Meet EMBA alumna Joy Lee, ex-Marketing Director of McDonald's Shanghai and a multilingual marketing specialist who has fused creativity and innovation, international best practice and local insight to build award-winning campaigns in the promotions business in Greater China. Joy, originally from Malaysia, speaks six languages including three Chinese dialects. She worked initially for major advertising firms in Taiwan. In 1997, she moved to Shanghai where her expertise - in particular, marketing to teenagers and young adults - was successfully employed by Nike, Pepsi and McDonald's. I may not be rich but I’m happy' Several years later, with great achievements already to her name, Joy started to think what life really meant to her. In April 2004, she quit her job and started traveling in order to reflect on her future. 'Having a stable job wasn't enough,' she said. 'Your career should not be everything. I wanted to spend more time with family and friends, and have more time to read. I also wanted to try new challenges.' While looking for a different type of venture, Joy was invited to become Managing Director of Smartclub (www.smartclub.com.cn) She had first met the owner of Smartclub when setting up a loyalty program for McDonald's Joy took up her new position in July 2004 and is committed to expanding the fast-growing company's business partner network and enlarging the customer base to establish reward points as a nationwide currency Having previously worked in multinational corporations, Joy finds working in a smaller operation much more flexible and is enthusiastic about her new environment 'In the corporate world, you are not able to move things fast enough,' she said 'Now I have control over my schedule and I like what I am doing I may not be rich but I'm happy ' Thomas Liu (KH06) Chief Operating Officer; HeQiao Group Raised in Hong Kong and educated in the US, Thomas Liu has worked in Hong Kong in various industries from hotel management to consulting, investment banking to venture capital Now with the Mainland market becoming more regulated and competitive, he has taken up a new challenge Thomas is charged with restructuring Beijing-based real estate developer HeQiao and improving local operations with the goal of making the company a preferred partner for foreign capital, which is taking an increasing interest in the China market He has a strong background in finance and took the EMBA program in 2003 to develop all-round skill sets in various business disciplines to enhance decision-making in his general management role Although Thomas relocated to Beijing only a few months ago, he is excited about the market's huge potential and encourages Hong Kong people to gain as much Mainland experience as possible. 'Explore China whichever way you can, be it work or play,' he said. 'Even if you earn a lower salary, it's worth investing given the high return in the long term.' Ever Ready for a Challenge 'Explore China Whichever way you can, be it work or play' Regarding staff recruitment in the Mainland, Thomas said he had no particular preference as long as candidates were familiar with the local culture and had relevant experience for the available position He thinks while Hong Kong people are more international, they are sometimes too westernized and need time to adapt to the new working environment Taiwanese colleagues, on the other hand, are closer culturally to the Mainland market but, like their Mainland Chinese counterparts, they are less expressive in communication and Thomas finds he needs to make more effort to create an open atmosphere within the company Though he devotes a great deal of time to his business, Thomas sees his wife and two sons as his biggest assets With their support, he plans to stay in Beijing for a while to boost both his personal and career development 'Try new things when you are young,' he said 'Be willing to accept new challenges and go for it1 ' 16 All You Need to Kn Everyone has heard of them but how do business school rankings actually work? Here's our snappy inside guide to this year's Financial Times Global MBA Rankings Even better this year. HKUST Business School leapt 25 places to reach number 44 globally out of 127 business schools selected worldwide to participate in the survey. What's more, just two business schools in Asia made it into the Top 50 - HKUST and CEIBS in Shanghai. So how is this determined? Rankings are based on three surveys: alumni (55% of the ranking), the business school itself (35%); and research (20%) Well, I’m one of the alumni. Can I take part Actually, the alumni survey has to be completed by: full-time MBAs who graduated three years ago a minimum sample size of 20% of the total class or at least 20 alumni if the class has less than 100 alumni An online questionnaire is sent out in September. Take a look a t the blue chart The numbers (except salary increase) refer to the ranking attained when business schools are compared So, the lower the number, the higher the achievement Asian Schools in the FT Global MBA Rankings 2005 Alumni Survey (55%) 1) Weighted salary (USD) - 20% 2) Salary increase in percentage - 20% 3) Career progress 4) Value for money 5) Aims achieved 6) Placement success (by MBA office) 7) Employment at 3 months 8) Alumni recommendation Business School Survey (35%) 9) Women faculty 10) Women students 11) Women board 12) Int'l faculty 13) Int'l students 14) Int'l board 15) Int'l mobility 16) Int'l experience 17) Language 18) Faculty w/doctorates * PRC students at HKUST are not counted as international students Other universities might Have a different definition Research Survey (20%) 19) FT doctoral rank 20) FT research rank Overall HKUST School with better score or higher ranking Vote Numbers (except salary increase) refer to ranking

ow About Rankings Annual Salary (Local Currency) Annual Salary Divided by Conversion Factor (From the World Bank 2002) Annual PPP Salary (For Ranking) RMB 360,000 I 360,000 I 1.8 I USD 200,000 HKD 360 000 I 360.000 / 6.9 I USD 52, I74 Top 50 The above 1s an illustration based on publicly available information and not necessarily the formula used by the Financial Times CEIBS Alumni earning Hong Kong dollars will appear to be earning much less than counterparts in the Mainland As this is one of the sections on the alumni survey that counts the most (20%), it also means HKUST Business School is likely to score lower than a school where many alumni reported their salary in RMB That’s important too Salary increase, which forms 20% of the survey, is looked at from the beginning of the MBA to three years after graduation Of course, economic climate will play a part here So someone working in the Mainland is likely to have a higher increase due to its booming market in recent years Hong Kong, on the other hand, IS only just coming out of recession

HKUST alumni have made great career progress. Yes. Their performance is fantastic. They have moved up the career ladder fast in the three years after graduation in terms of seniority and the size of company they work in. They obviously achieved their aim to progress in their careers and also found the program good value for money. It‘s just that the economic downturn and tough market conditions, especially during SARS, made salary increases difficult. Alumni recommendation means that alumni were asked to name three business schools (other than their own school) from which they would recruit MBA graduates HKUST probably still has to raise its brand profile more, so as to be named by more alumni from other business schools You could help with this How ? By remembering you are a representative for the HKUST Business School in the business community through what you do and achieve. And by letting people know about the School‘s top quality Brilliant, aren’t they? They really show the world- class standing of HKUST and how it stands out in Asia Great diversity of students, faculty and board members, lots of international experience among students on the program AND research excellence and publications by faculty members Where are you going? Source Financial Times Global MBA Rankings 2005 7. 78 Getting a Move On An integral part of all top MBA programs, the career services at HKUST Business School has recently embarked on some new initiatives, not only developing opportunities for students but developing students for opportunities as well Soft Skills’ Training These range from developing presentation and communication skills to fostering initiative and out-of- the-box thinking to hone participants' 'soft skills' Major activities have included - Workshops designed by professional executive search and training company Wang & Li and MBA Career Services to create awareness of participants'

management skills (or lack thereof) - Individual career coaching and job-hunting advice, ranging from assessment of strengths and weaknesses to practice in social and networking skills - Manpower, a recruitment company with extensive global operations, has shown career-changers alternative ways of presenting their transferable skills - Industry representatives from management consulting, investment banking, and consumer marketing have held career talks and discussed various career choices and the skills needed to be successful in those fields 5 Our very supportive alumni have been invaluable in this type of 'career intelligence' training MBA alumni have shared insights on finance, private banking and investment while EMBAs have spoken at on-campus recruitment events We look forward to expanding such sharing with the help of alumni in other fields Special thanks to: Andy Yuen Director, Equities for Citigroup Private Bank in Asia Pacific Derek Chan (PT94), Executive Director, Tai Fook Securities Group Limited Mabel Lau (PT95). former Executive Director of UBS Susana Leung (PT04), Director, Deutsche Bank AG, HK Vincent Chui (KH01), Managing Director, Morgan Stanley Sophia Leung (KH04), Executive Director; Morgan Stanley (FT94), Director, Equities for Citigroup HKUST’s Corporate Links MBA recruitment at HKUST has been at an all-time high since SARS, with many multinational companies seeking MBA graduates with local knowledge and international exposure as part of their globalization team HKUST alumni can be found in the following leading companies in Hong Kong, and increasingly in the Mainland ABN AMRO AIF Funds Management American Appraisal American international Underwriters AS Watson BearingPoint Management Consulting Belgian Bank BOC international Holdings Christian Dior CIBC World Markets ClTlC Citigroup CLP Power Asia Coca-Cola China Credit Suisse DHL Deloitte Consulting Deutsche Bank Emerson Electric Federal Express General Electric Goldman Sachs Heinz Limited Hewitt Associates Hong Kong and China Gas HSBC IBM China/HK lnfineon Technologies ING Asia Pacific Intel Johnson & Johnson Kohler Mira Korea Development Bank KPMG Lehman Brothers Leo Burnett LVMH Macquarie Securities, McKinsey & Company Mercer Management Consulting Morgan Stanley Merck Norasia Container Lines Otis Elevator Philips PricewaterhouseCoopers Sallmanns Sun Hung Kai Properties Sun Microsystems Tristate UBS Ward Ferry Management Warner Brothers Consumer Products - 19 Tackling the Future of Hong Kong Executive and Legislative Council Member the Honorable Bernard Chan provided a thought- provoking evening of frank comment and views Both Mr Chan’s speech and the subsequent discussion addressed a number of thorny topics including where tax payers’ money is spent, social welfare payments, the healthcare system and the E as guest speaker at the latest HKUST MBA Alumni City Seminar, held attributes required of a Chief a t the China Club, Central, on Executive In his responses, February 24 Mr Chan pointed out how many Hong Kong people Mr Chan, known for his willingness were still living in the past to stand up and be counted, gave with regard to how the city a lively, informative presentation on operates, and the mind-set “A look At Hong Kong’s Future - What Matters Most“, in which he tackled some of the economic and political issues that lie ahead for Hong Kong This was followed by a panel discussion with alumni Andy Yuen (PT94), Mabel Lau (PT95) and Flora Wai (PT03) problem in accepting the changes necessary for restructuring He also highlighted the lack of new- generation leaders and said it was essential to find a way to encourage young people to step into the political arena Alumni Ambassadors, Take a Bow By Karen Ma, Marketing Team, MBA Office In what business would executives travel to over 10 cities in two months? Did you say a business school? No kidding! This was the hectic schedule facing the MBA Office Marketing Team in October and November 2004. We participated in MBA fairs in 17 cities in Europe, the Mainland, India and South-east Asia and held our own information sessions in Beijing and Shanghai Such Thanks to all of them. Thanks, also, to the eight alumni who helped at Mainland information sessions and the 20-plus who assisted in Hong Kong! By Karen Ma, Marketing Team, MBA Office extensive promotion aims a t getting word of the HKUST MBA out to potential candidates worldwide as well as bringing more diverse nationalities and further quality students into the program. We also offered individual consultation sessions to highly interested people who wanted to discuss their applications in-depth. Our Ambassadors at the worldwide MBA Fairs: Europe: Georges Richard (FT05), Elena Liu (F05), Christine Xiao (FT05) Mainland: Guillaume Boisset (FTOS), Cherry LI (FTO5j, Dean Missikowski (fT05) India: Anand Raj (FTOZ), Sanjeev Sharma (FT981, Ram Badrinathan (FTOO) Asia: Priyanka Dhaul (FTOS), Justine Kittiboonyanont (FT03), Sang Chul Kang (FT04) Hong Kong: Winnie Wong (PTOZ), Elf Lai (PTO3j Phoenix note: Karen Ma (FT02) joined the MBA Office after graduating from the program. She is now leading the MBA Marketing Team which WJS set up in July 2004. 20 Alumni corner MBA-ers in the Public Eye Spreading the Word Raymond Tse (FT94), regional managing director at Thomson Financial’s Asia Pacific operations, hit the media spotlight recently when he shared some of the secrets of his success with thousands of readers of the Financial Times Chief among these was his HKUST MBA executive at Datastream, a financial data provider The company was later bought by Thomson Financial The high flyer also noted the strength of the ties he made with fellow participants during his MBA days These friendships had been important ever since, helping him solve work difficulties and move forward He said he was still in touch with everyone in his HKUST study group, first formed more than 10 years ago Raymond, a former government drainage services department trainee who aspired to a business career and now manages more than 100 sales personnel, was one of HKUST’s earliest MBA The article certainly made an graduates In the Financial Times impression Phyllis Fong (PT94), Senior article, published in January, he explained how he had Personnel Officer, MTR Corporation Ltd, and Raymond’s been able to move from engineering into the financial MBA classmate said “When the Financial Times, one world and up the management ladder through the of the top financial papers in the world, profiled Raymond, knowledge gained during his MBA He said every day I was proud of him and my a h a mater HKUST’s MBA on the program had been an ”eye-opener” program prepares students to cope with regional and global levels of responsibility Raymond’s success i s a After obtaining his MBA, Raymond became a sales testament to the quality of the HKUST MBA ” Special report business education Career success engineered from humble beginnings

Time Well Spent Sharing experiences with fellow participants is a central part of the MBA approach Recently, Susana Leung (PT04), Director at Deutsche Bank AG, was featured in an article in the Hong Kong Economic Times, talking about how she readied herself to take an MBA program in the first place Susana has been in the banking field for 10 years. She had long thought about taking an MBA but with two children and a busy job, she decide to wait until she really felt able to cope with the additional workload. Both psychological preparation and good time management are crucial elements for a successful balancing act between MBA assignments, work, and family, Susana explained in the December article. In addition, she pointed out the value of a wide-ranging MBA, which can introduce the operating environment of different departments within a company, for example, marketing and IT This makes communication easier when working with people from other areas in the future She also noted how her HKUST MBA studies contrasted with previous courses she had taken. “Taking the MBA program was a totally different experience from on-the- job studies,” she told the Hong Kong Economic Times. “As most classmates met up at least once a week, we gained better understanding of each other and this was very helpful in building personal networks.”

Sculpting a Fresh View of Middle-Class Life Ten years ago, telecommunications engineer Kevin Fung (PT02) found both his career and personal life in turmoil. To help him through these times, Kevin decided to rekindle his life-long passion for art and take up sculpting. He has continued to pursue this interest ever since. It is fun to create and I enjoy the process more than the final product itself. As an artist’s idea evolves and take shape, he has total control over his creation, Kevin said. Kevin’s recent works reflect the predicaments of the middle class in today’s Hong Kong. Art differs from design. The latter is commercially created, targeted at a certain market which often does not include the creators themselves, and is probably dismantled after specific use, he said Artists, in contrast, usually have a motif for their work, incorporate long-lasting messages and leave room for the imagination of both participants and viewers. Kevin utilizes a range of materials, including wood , marble and glass. He recently held his third exhibition, Concepts in Wood: Contemporary Hong Kong Wood Sculpture, together with other artists at the University Museum and Art Gallery of the University of Hong Kong. He also runs workshops and gives weekend demonstrations at the Hong Kong Visual Arts Centre in Hong Kong Park.

Below: Kewn’s wood sculpture, Who Would You Rather Be?, was created during the SARS period. The neck of the man in the middle is being caught and squeezed by his boss behind him. Yet the middle man is not together with other artists at the University Museum and Art Gallery of The University of Hong Kong. He also runs workshops and gives weekend demonstrations at the Hong Kong Visual Arts Centre in Hong Kong Park. able to fm/y hold his subordinate in front to get things done. The sculpture expresses helplessness and aims to inspire thoughts on the nature of society Kevin is now working on an abstract piece of wood sculpture which he will contribute to HKUST Business School as an alumni gift. Inspired by metamorphosis, he thinks education, particularly the learning process, is like a cocoon, where you prepare to life to another Those interested in learning more about wood sculpture can contact Kevin culpture can contact Kevin Isom or 9862-8887 or vwt 23 Captivated by Colorful Beijing By Mark Wickham (Exchange-in 98), Mark. Wickham@motorola. com Life in Beijing is anything but boring Indeed, the excitement has kept me here since completing my MBA at the University of Washington in 1999 I first came to Beijing with my current employer, Motorola, in 1994 and after my exchange-in program at HKUST in the second year of my MBA, I knew I needed to get

back to China I am now a senior manager at the Beijing R&D center Working daily with young engineers and managers in Beijing is very enjoyable As a foreigner, I have always felt welcome in Beijing, a unique city of 12 million with a hidden, small-town feel Despite the wonderful opportunities the mainland presents for exploration and travel, I don't often leave the city While in Beijing, learning Mandarin has been a labor of love It is not uncommon for expatriates to complete multi- year assignments, only to return home with just a basic working knowledge of the language Although I am hardly fluent, my progress has been slow and steady - like so many things in China -with a patient focus on long-term results Cycling around Beijing during the balmy summer months is certainly the best way to get to know the city Over the years, I have captured on video many sights and sounds of this rapidly changing urban landscape and, working with local musicians, I have used the footage to create music videos which have been popular with foreigners and Beijing people alike In the future, I would like to present the city as a backdrop for a short or feature film (Visit http://majawi.com/hometown for a look at Beijing last summer) The pace of change in the city is remarkable, irreversible, and necessary New shopping malls emerge, old hutongs are preserved There are more cars and fewer bikes Subway lines suddenly appear while ambitious projects dot the skyline This winter saw the removal of the famous Silk Alley, with the old landmark already replaced by a beautiful indoor market at its original location in the central business district In just a few short years, the world will be amazed when it comes to Beijing for the Olympics The summer games will offer a chance for many to learn a little about the people and the city I call home 24 MBAAA Annual Dinner and AGM 2005 Eye-catching attire saw the MBAAA Annual Dinner and AGM 2005 get off to a colorful start at The Grand Stage Restaurant on January 22 Over 130 guests, dressed in traditional Chinese outfits, attended the highly enjoyable event, including alumni representatives from 1994 t o 2004, current students, faculty, MBA Office colleagues and guests Events at the dinner began with a lively video presentation recalling different MBAAA activities held in 2004 Later, a t the AGM, Victor Chan, President of MBAAA 2004, presented a summary of reports and the Exco 2005 was elected Adding further color t o the grand reunion dinner, a team of Salsa dancers gave a demonstration and a quick Salsa lesson to guests. All in all, a great evening with a wonderful time had by all. New Website www.mbaaa.com News & Events Personal Profile Update Career Alumni Directory

Lifelong Education Online Survey Online Phoenix Discussion Forum Download Membership Form Join Us Now! Email: mbaaa@ust.hk HKUST Wins Oxfam Fundraising Award Trailwalker 2004 has finally come to an end. with HKUST MBAAA teams once again covered in glory. HKUST Wins Oxfam Fundraising Award for the 4th Year We raised a total of $227,600 for Oxfam and won the Fundraising Award in the Education Category for the fourth year The Speed Ladies gained the first place in both the Education Category and Women’s Open Category with a time of 17 hrs 57 mins The presentation ceremony was held on February 18 a t the Hong Kong Scout Center 25 MBAAA News In the Running at Standard Chartered Marathon Despite cold and wet weather, over 40 HKUST MBA students and alumni left their beds before 6am on February 27 to participate in various categories of the Standard Chartered Hong Kong Marathon 2005. Coming shortly after Oxfam Trailwalker, the event further demonstrated the unity of HKUST MBAs and their support for the community Everyone did a great job and some of our athletes managed to break personal records Congratulations to all HKUST runners for your persistence and endurance1 To provide additional inspiration, the MBA Alumni Association sent its first support team to cheer on the runners this year And after the race, everyone gathered at Wan Chai Sports Ground to share their memorable experience, with hot beverages and light refreshments served Outward Bound Race Offers Another Challenge Three HKUST MBA alumni teams were among the 50 teams who took up the challenge of participating in the multi-sport Porsche Outward Bound Adventure Race 2005 on March 6 Each team of four had to complete the 20km course, including on and off-trail running, kayaking, swimming, orienteering and some unexpected challenges to test teamwork and coordination, within seven hours The race started from Tai Mong Tsai and finished in Sai Kung Waterfront Park Congratulations to our alumni who all successfully completed the race. Team 1 and Team 3 were among the top 10 in the Open Mixed category while Team 2 broke their own record set the previous year Team Members Time Team 1 5 03 hrs Team 2 6 05 hrs Team 3 4 38 hrs Jacky Mak (PT-Year 3), Wiwin Leung (CS99), Kenneth Lai, Ivan Chan KK Luk (PT04), Albert Kwong (PT04), Richard Chan (PT-Year 3), Joseph Au (PT04) Ben KO (PT-Year 2), Daniel Yim (PT03), Madoka Murayama, Alice Chee F 26 A 4-day Intensive Executive By Prof. Wilfried Vanhonacker; Head of Marketing Department Benefits quicker adaptation to the unique Chinese business and cultural environment in-depth appreciation of the day-to-day challenges of running a business in China cultural misunderstandings vital insights into marketing issues greater understanding of how to manage a Chinese workforce. Details and Application http://www. bm. ust. Hk/exceed/ Inquiries Ms. Gigi Chow (email: gigi.chowQust.hk; Te Ms. Vian Li (ernail: brnvianQust.hk; Tel: Tell your friends about our NEW program MBA/MSc in Financial Analysis Dual Degree Program starts intake 2005 Unique Benefits - Both MBA and specialized Financial Analysis training - Core subjects in CFA@ curriculum covered - Corporate Finance or Security Analysis concentration - Completion of two degrees in three years Application closing date: May 9, 2005 21世紀經濟報道 搜狐 新財富 北京日報 北京晚報 深圳特區報 上海商報 人民日報社國際金融報 金融街 西城區 九龍冰室