15/04/2014 Asia Business Report


15/04/2014

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has denied his affair with colleague Rebekah Brooks breached professional

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standards. He denies conspiracy to hack phones and conspiracy to commit

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misconduct in a public office. Now on BBC News, all the latest business

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news live from Singapore. As Indonesia and India go to the polls,

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we look at how debt prospective new leaders may affect the regional

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economy. And cool jobs, the man tasked with building world`class

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film studios. They give are joining us. Our Asia Business Report,

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broadcasting to viewers around the world. Two of Asia's largest

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emerging markets could be in for big changes. India and Indonesia are

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both in the midst of election cycles. Is this leaders hope will

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deliver on economic reforms. It is now in the hands of voters. So what

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is the future like? Earlier I spoke to Mike McFarlane, global chief

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economist. I began asking him for his outlook on Indonesia. The

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pre`election campaign suggest a strong candidate will come through

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for reform. Last week the Parliament suggested that will not be the case.

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The likelihood is a coalition government, which will tend to slow

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down the process of reform considerably. Several key actions

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are at risk here. You have opening up industries, rolling back the fuel

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price subsidies. The subsidies are the big issue. That is where the

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government's deficit has expanded a lot. We need to see those rolled

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back. We need infrastructure as well. That requires a strong

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bureaucracy. And long`term planning in order to get that enacted. You

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need a really good platform for building on. Indonesia needs a

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strong government in order to do that. Are we likely to see a

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seachange in India now that they have a five`week election?

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Basically, they have been in economic crisis that to `` two

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decades. I wouldn't quite characterised in those terms. High

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inflation is a problem, but 2002, strong growth in India. It has

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recently slowed due to higher interest rates. What has happened is

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the reform process has slowed down. The election that is happening now

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should see a strong candidate come through. Mike McFarlane. US tobacco

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companies will make a payment to 46 states for the cost of providing

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healthcare for people with smoking`related illnesses. But South

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Korea be heading down a similar path? In a landmark case, a health

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insurance company filed a lawsuit against a number of domestic and

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foreign tobacco companies seeking to recoup the cost of treating

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smokers, who are suffering from cancer and other conditions. I spoke

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to a correspondent about whether tobacco companies are worried. In

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the past, lawsuits have been brought by individuals or families. It is

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the first time a state agency has brought a lawsuit. It has access to

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a lot more information in making its case. In the past, Korean tobacco

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companies have said there is not strong enough evidence to link

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smoking with individual cases of cancer. That is something the state

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agency is hoping to overturn. Of course, in this lawsuit, they are

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not only taking on Korea's largest tobacco company, but also American

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affiliates Philip Morris and BAT, both of whom have faced lawsuits in

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the United States. There is a lot more information around. Could this

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recent development changed the general smoking habits and Korea?

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Error a lot of smokers in Korea, particularly among the male

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population. Around 40% of Korean men smoke. The government has recently

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been on a drive to try and raise public awareness, to try and clamp

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down on smoking. Cigarettes are very cheap here. You walk along the

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street in Seoul and you can see lots of people on the street topping

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away. The government is trying to make public spaces and area when no

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one is allowed to smoke. It is difficult to smoke. This lawsuit is

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another way to put pressure on people, to raise awareness, and at a

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time when there is a lot of focus on welfare in South Korea. Lots of

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welfare is being demanded, and there is very little cash to pay for it.

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The government is trying to raise awareness and save cash. In other

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business News, Google has bought a maker of solar powered drones for an

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undisclosed sum. They said the purchase could help with its

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ambition of bringing web access to parts of the world. Facebook had

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already been in negotiations with Mumsnet, and announced its own plans

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to build solar powered drones and satellites. Canada's tax agency is

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the latest organisation to have seen its online security compromised

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because of the so`called Mumsnet bug. Hundreds of people had their

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information compromised after hackers exploited vulnerabilities

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due to the bug. Rich parenting website Mumsnet were also hacked

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recently due to be bug. It wasn't long ago that Asia's best and

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brightest students looked overseas for top`notch education. The

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graduate management admission council, which administers entrance

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exams for MBA programmes says that is changing. More are staying at

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home. The CEO of this company told us why it they are becoming more

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competitive. Two things. We are finding more high`quality management

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institutions in Asia. In the year 2000, there were no Asian schools in

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the Financial Times list of the top 40 schools in the world. Last year

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there were eight. Those eight are not in one location, they are all

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across the region. India, Singapore, Hong Kong, China. These top business

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schools in Europe and the United States are now setting up campuses

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here in Asia. Exactly. You have the option to go to great Asian business

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schools, as well is to go to the Asian campuses of the great European

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and US is the schools. So the supply is bad, if you will, to match the

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demand which has been there for a long period of time. Asian

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candidates want quality management education. Now they can get it in

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the region. The other thing is the secular amount for more and more

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high`quality management education because of the growth of the

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economic base out here. Here is what some students had to say about

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taking their business programmes at home or overseas. I am Chinese, he

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is Indian. We have advantages going to other places. Imagine in the UK,

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who can speak Chinese there? Not many. So if we go over there, we

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have the best of both worlds and will do very well to ourselves in

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the future. Ward I would prefer to stay in Singapore, because I want to

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be chartered accountancy and the Institute here is considered one of

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the world 's best. So why would I go all the way of their? Green I am

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most likely to stay in Singapore. I am more used to the lifestyle. Those

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were Singapore students. Imagine being given a free rein to build a

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film studio. That was a job given to an Australian veteran of the film

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industry with a career spanning four decades in three continents. As part

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of our series profiling Asia's cool jobs, I spoke to him and southern

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Malaysia. If your ambition is to get into the film industry, and you have

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the ability to think Dick, this could be the job for you. Mike

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designed and developed this complex. His job now is to bring in

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filmmakers from around the world. Welcome to Malaysia Studios. He was

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headhunted the government to turn this little`known city into a base

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for international film and television productions. Link, and

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you could think you are in Hollywood. That is because he spent

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ten years there before moving to Malaysia. He started out in TV in

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Australia 40 years ago, for working in production companies in ten

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countries. Take us through the process of what happens when you

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first come here and it was all jungle, and is now we have all of

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these film sets and studios. What we did in the early days, while it was

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still jungle, we did the designing and got that right. Then we went

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into the construction stage. We spent months, we cleared and moved

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something like 1 million cubic feet of earth. His job is not about its

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glamour. It is about hiring and managing all the staff needed to

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support filmmakers and their huge cruise. If he is not here working

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behind`the`scenes, he is travelling the world drumming up new business.

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This is obviously a unique opportunity. Is your job call? My

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job is very cool. Not many people get to do this, build a huge

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international facility, and then build an industry as well. Must be

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some challenges working in Malaysia. Tell me about those. The challenges

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are that this is unique. They have an industry, they do some industries

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just `` some films just for Malaysia, but we need to rethink in

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a big way. He and his team have come a long way since the project started

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four years ago. There have been some low points when he had many burning

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questions. How do I bring the infrastructure required? How do I

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bring the labour required? And to service the production which will

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come to the operation. His answer, set up a training college to support

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the industry for years to come. It is a plan which may well paved the

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way for local talent to one day take over. Thank you for watching.

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