Ask the expert: A cool respite on Borneo's Mount Kinabalu


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I've booked a beach holiday in Borneo, flying into Kota Kinabalu. I know that after a few days chilling on a sun lounger, I'm going to be keen to do something more active. What are the options or is it too hot here to do anything other than relax?

Kota Kinabalu - universally shortened to KK - is only six degrees north of the equator so the weather stays consistently hot and humid all year. But there's more than one way to find cooler temperatures and if you can't go north, you can go up. Visible from downtown KK is Mount Kinabalu, South East Asia's highest peak, and when you're sweating on the beach, it's hard to believe that on the 4,095m summit there are climbers battling freezing temperatures.

An ascent is within the abilities of most reasonably fit people and an entire industry exists to serve the needs of would-be ascentionists. There is the option of a one-day ascent but that's only for the exceptionally fit because the trails don't open until 7am, there's a climb of 2,200m over 8km and there are usually no summit views because the mountain is enveloped by cloud by mid-morning.

Most people split an ascent over two days, with a rest overnight in a series of basic lodges at Laban Rata, about 800m below the summit. Sutera Harbour Resort (www.suteraharbour.com; 00 60 8831 8888) in KK has the exclusive contract for overnight ascents and offers a 512 ringgit (Dh613) package which includes the park entrance fee, climbing permit, guide, insurance and full board in a dormitory room in Laban Rata. You usually need to book well in advance, although you can also just turn up because there are often last-minute cancellations.

The climb to Laban Rata is steep and very scenic through gorgeous forest. It's on a good path, with lots of places to stop along the way. Most people try to leave Laban Rata at 2.30am so they can see sunrise from the summit, with is also the best time to get cloud-free views. The majority of those attempting the mountain are from the surrounding nations so their only previous experience with cold is air conditioning, which helps explain why they're rugged up as if they're about to join Captain Scott in Antarctica. (If the wind is blowing, you'll understand and wish you were dressed like them.) Dress in lots of thin layers, so you can adjust your clothing to suit the temperature. A good guide is worth their weight in ringgits because they'll keep a steady pace that prevents you sweating too much and which puts you on the summit right on dawn, where you'll be surrounded by others who climbed too fast and have been shivering there for the last hour.

You can't get lost on the stark and mostly unvegetated granite plateau above the treeline because the route is marked with a thick hawser rope. The rope also provides security on some of the steeper sections but it's not really a technical climb. Enjoy one of the most stunning sunrises around and then steel yourself for the quadricep-crunching descent, after which sitting on a beach doing nothing will once more have appeal.

Do you have travel questions or queries? Email them to us at travel@thenational.ae

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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