Ever since his parents gave him a music system at the age of 12, John Kochanczyk has been interested in the reproduction of sound. He recently set up a professional sound studio, Mile Studios in Dubai. He talks to The National about what inspired him to create the venture.
How did your interest in sound start?
The sound path kind of started when I was about 12. I ran a little deejaying business when I was a kid, so I would do birthday parties, little corporate events, things like that. That led me on to theatre sound and live sound as well.
When did it become a serious career option for you?
It was probably when I was considering colleges, just getting ready to graduate from high school. I went to high school [at the] American Community School of Abu Dhabi. I was either going to be an aeronautical engineer or go to film school. Film school won. All my hobbies were doing sound in one way or another, so I thought 'let's go there.'
Where did you study sound?
At Vancouver Film School. I did two courses there, actually. The first year I did their foundation visual arts and design course, which is basically just a broad overview of everything, so you do classical animation, a little bit of 3-D, architecture drawing, art history. Then I did the sound design for visual media course.
Why did you come back to Dubai?
One of the main reasons I came back was because the industry was so young. In the other media hubs of the world they have been established for 100 years. It would be great to work there and to get involved there, but I wouldn't really have a chance to make a difference. Here I saw the chance of trying to create a standard, to develop and help the industry. I am slowly moving towards that.
You have been teaching at the New York Film Academy in Abu Dhabi for the past three years, so why did you choose to set up your sound studio in Dubai?
That's been great to help out with educating the next generation, so to speak, but not a lot of the media is centred in Abu Dhabi. All the projects that I hear of, all the things that are going on, happen in Dubai.
Have you worked on any studio sound projects yet?
Through the actual studio - sound-wise, no. But I have been doing a lot of freelancing over the past couple of years. I did have The Intruder! film at the Dubai International Film Festival [last year]. I really hope people notice the sound in that and say 'OK, I want it.'
Why is sound so important in film?
One of the good quotes in filmmaking is by George Lucas, who said: 'Sound is half the picture,' which is absolutely true. The soundtrack really involves and invigorates the audience. If the soundtrack is not up to par or there are issues with it you notice it instantly. A lot of [the problem], especially for aspiring young filmmakers ... is just not planning for it, not considering it. I find people are scared of it as well because it's not visual. People can't see it.
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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.”
Men’s singles
Group A: Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)
Women’s Singles
Group A: Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
