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TELENOR

Telenor anoints Asia head as new chief exec

Norway’s Telenor has appointed its Asia head Sigve Baksaas as its new chief executive, rejecting calls for it to put one of its several high-powered female executives in the role.

Telenor anoints Asia head as new chief exec
Telenor's new chief executive Sigve Baksaas. Photo: Telenor
“It is a great honour,” Brekke said in a press release announcing his appointment. “We are poised to capture value from the opportunities arising from  strong demand for internet services and I look forward to executing our strategy together with our 33,000 employees.” 
 
Telenor chairman Svein Aaser praised Brekke’s “solid track record” and “leading role in our Asia success story”. 
 
“His vast international experience and leadership capabilities will be of great value as the company continues is profitable growth journey,” he said. 
 
Brekke, 55, is scheduled to take over from the present chief executive Jon Fredrik Baksaas by 17 August 2015.  He will be paid a base salary of nearly six million Norwegian kroner. 
 
Monica Mæland, Norway's industry minister in March suggested that Telenor would do well to choose one of the two prominent female candidates for the job, helping to make up for the dearth of women in the top jobs of Norwegian companies. 
 
But Brekke was always seen as the front runner, although Berit Svendsen, 51, the chief executive of Telenor Norway and Hilde Tonne, the head of group industrial development, previously Brekke's deputy in Asia, were also contenders. 
 
Telenor’s Asia business now represents more than 40 percent of Telenor’s total enterprise value, after entering India, Bangladesh, Thailand, Myanmar, and Pakistan. 
 
Aaser praised Baksaas as “one of the most important industry leaders in Norway in modern times”. 
 
“Jon Fredrik Baksaas has internationalised Telenor and transformed us into a modern, world-class telecom company,” he said.  
 
Basks said that Brekke was “the perfect candidate” to head the company. 
 

BUSINESS

‘I chucked in my Frankfurt banking job and turned my food blog into a career’

A young Malaysian expat had a "dream job" at Deutsche Bank. But she had the courage to do what many only fantasize about - she left it to pursue her passion.

'I chucked in my Frankfurt banking job and turned my food blog into a career'
Grace Teo, founder of Nyonya Cooking. Photo: Nyonya Cooking

Ever wanted to leave your job and become your own boss? Would you do it in Germany? Grace Teo has done just that.

The 30-year-old moved from Malaysia to Frankfurt in March 2011 to pursue a career in banking. But within a year, she had set up an online cooking publication as a side project – and it was so successful that she has since turned her hobby into a business.

The cooking blog Nyonya Cooking was born out of Teo’s frustration with the lack of authentic Asian cuisine in Germany, the young entrepreneur tells The Local.

“Unfortunately, there aren't many Southeast Asian restaurants in Frankfurt,” Teo laments. “There are some Thai restaurants, one or two Malaysian ones, one Indonesian.”

But even then, Grace finds the food to be “adapted for a German market.”  

So Teo vented her frustration by developing a YouTube channel and then setting up a website.

“I would post video recipes of food I liked or I was craving. At that time, there were no channels really for Malaysian cuisine. I then linked videos of the recipes to the website version, and began taking requests from my viewers.”

Slowly, the site gained in popularity.

“There was gradual growth. There was no point where we were like 'wow, now it’s growing crazy!' It was just a weekend thing.” 

But five years after she set it up, her YouTube channel has amassed more than 12 million views, and her website enjoys 36,000 individual visitors per month, she says.

At the moment, the business earns money through online advertising, and Teo is hoping to develop a tangible food product in the future.

Teo's Chilli Pan Mee. Photo: Nyonya Cooking

Leaving her job

Having a full-time banking job and simultaneously running Nyonya Cooking was highly demanding. So in 2016, Teo decided to focus on her blog full-time.

“Leaving banking was a very difficult decision. Working at Deutsche Bank was my dream job and I had a very good mentor there. It was really tough to say 'I’m leaving everything behind'. I tried to organize a part-time position, but the nature of the job didn't allow for that. There were lots of deadlines and meetings.”

Family support gave her the final push to start her own business.

“I spoke to my mum, and she said 'If that’s what you want, go for it. I just want you to be happy.' My husband is also very supportive.

“I sometimes miss the corporate life,” she admits. “I miss meeting a lot of people, having people contact and colleagues being around. I’m by myself now, no one is watching over me! Now I have more control over my own work. The toughest part is staying self-motivated.”

Working for yourself is “tough but interesting, since you have to consider things you never had to before,” she adds.

“At work you get assigned to do tasks, now I have to think 'what’s the next step?' and 'is it the right step?' Depending on yourself is tricky.”

Establishing a business in Germany

Nyonya Cooking has been a German company since February, taking about two weeks to register at the Gewerbeamt (trade office), with another two months' worth of paperwork from November 2016 onwards with the Arbeitsamt (employment agency), a process Teo notes is normally quicker when Christmas isn't involved.
 

Getting the business up and running “wasn’t really difficult”, she says. But the biggest challenge was “doing everything yourself in another language.”

“You need to fill out the correct documents, sometimes with difficult vocabulary. As well as having a business plan, you can call your local trade office directly, since they are friendly, helpful and can dispel any myths you may have heard from friends regarding starting a business in Germany.

“Knowing German for business is very important. Of course you can get help, but knowing German makes things easier and quicker. You can just pick up the phone and call rather than doing things by post.”

Teo also recommends getting informed about starting a business in Germany by speaking to those who have already done it, such as vi meet-ups in your local area.

Teo's Steamed Tofu. Photo: Nyonya Cooking

Asian food in Germany

At the moment, Teo’s audience is mostly to be found in South Asia, as well as in English-speaking countries such as the USA, UK and Australia. But she hopes the development of her German website, established in March, will help to attract a larger audience in her adoptive homeland.

“The Germans are quite conservative when it comes to food. I think there is a saying that goes 'the farmer won’t eat what he doesn’t know'. I want to slowly teach Germans about more authentic Asian food.”

Teo is currently figuring out how best to do this.

“Asian food has a bad reputation in Germany for containing monosodium glutamate (MSG) and oil. I want to show Asian food is different and healthy, that you can do it yourself – and that it is fresh, fast and easy.”

But is it possible to get the correct ingredients for Southeast Asian cooking in Germany?  

“Of course!” Teo enthuses. Though her family sends her the occasional product from Malaysia, Teo says she gets the vast majority of her ingredients in Germany.

“In bigger cities, like Berlin, Munich, Frankfurt and Düsseldorf, you can go to Asian supermarkets, including getting fresh Asian vegetables.”

Note: This article has been updated to clarify one of  Grace Teo's statements.