Chiefs are ready to lay ghosts to rest


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The wait to reach the Super 14 final has been far too long for the Waikato Chiefs. In the early rounds it looked as though the season would once again finish without them even making the semi-finals, a stage they had graced just once before. They began with three straight defeats. You could hear the "hear we go again" cries of distress and damnation from supporters and opponents.

But three months later the Chiefs are on the doorstep of history. They have seen off the best in New Zealand and Australia and are on the verge of history as they challenge the Pretoria Bulls today for the Super 14 title in Pretoria. It has been a superb graduation for the Chiefs, a side with a swag of talent in the looseforwards and backline, but a motley pack of forwards. At least they were at the start of the campaign.

They were no-names, cast-offs, ring-ins and draft players. That collection, intoned most observers, would balance against any amounts of brilliance the Chiefs could squeeze out of their brilliant backs. They were facing another year of disappointment. It was not possible, the criticism continued, for a Rolls Royce backline to perform effectively on an engine with oily and limited spark plugs. Fast forward through the agony of a difficult start and the Chiefs are one win away from claiming a crown which has only been nabbed by four sides, the Canterbury Crusaders, Auckland Blues, CA Brumbies and the Bulls, since the professional rugby series started in 1996.

The transformation has been a credit to the coaching staff led by Ian Foster, the tactics and adventure, the massive team spirit and the advances made by the tight five. These are the men with the small numbers on their back, the grunt and groan merchants who have to sweat away at the technically demanding set-pieces of scrums and lineouts which govern a substantial part of a team's success in modern rugby.

Even then the Chiefs resources were stretched as Ben May, one of their improving props, twisted his knee and was gone from the play-offs. It may be stretching it to believe any of the tight five will graduate to All Black colours when that initial squad is named tomorrow. However they should make it into the Junior All Blacks who are also heading off to play a series in the Pacific Islands. Hooker Aled de Malmanche has been a bustling ball of energy, a trifle erratic with his lineout throws, but a prototype for the modern hooker in his damaging ball carries about the park.

The props Arizona Taumalolo and James McGougan have been revelations in their first season of rugby at this level, lock Kevin O'Neill has shown that his one cap for the All Blacks was no fluke when they were missing players, while Craig Clarke, a draft player overlooked by two previous franchises, has been a great toiler. It has been a mix that has worked. It was difficult to believe it would survive the season or even the semi-final against the Wellington Hurricanes who were laden with All Black scrummagers.

Sometimes it creaked, but it somehow held as the Chiefs won 14-10. But this is a different scenario for Waikato. Travelling halfway round the globe for a final, at lung-busting altitude, against a Bulls pack with behemoths like Bakkies Botha, a lineout master in Victor Matfield and looseforwards like Pierre Spies, who has the pace of a wing and the strength of a prop. It is a fearsome challenge for the Chiefs.

Centre Richard Kahui, who has boosted confidence with his return froma calf injury, admits the Chiefs have self-belief. "Every time we step on to the field we feel like we know we are going to win. It's been like that the last few weeks," he said. It has been like that for much longer. The Chiefs have lost just one game in the last 11 as they have stormed to the final. That solitary defeat came against the Bulls at Loftus Versfled, the scene of this winner-take-all rematch where the hosts have been unbeaten all season.

wgray@thenational.ae

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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

WISH
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The%20specs
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The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

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Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

The specs

Price, base / as tested Dh12 million

Engine 8.0-litre quad-turbo, W16

Gearbox seven-speed dual clutch auto

Power 1479 @ 6,700rpm

Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds

Top speed 420 kph (governed)

Fuel economy, combined 35.2L / 100km (est)

UAE currency: the story behind the money in your pockets
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5