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occupying hospital beds because their discharge had been delayed. | :00:00. | :00:00. | |
Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:11. | |
Is as looks set to star in Malaysia. Sluggish spending. And why the | :00:12. | :00:24. | |
booming car industry is attracting little investment in India. | :00:25. | :00:35. | |
Welcome to Asia Business Report. Falling commodity and oil prices, | :00:36. | :00:39. | |
uncertainty about US rates and allegations of corruption at the | :00:40. | :00:43. | |
heart of government. We have been speaking about Malaysia, and all | :00:44. | :00:49. | |
this is likely to be reflected when the country releases its latest | :00:50. | :00:52. | |
figures on economic growth. GDP growth has been slipping and is set | :00:53. | :01:02. | |
to fall even further, to 4.7%. I think that the third-quarter | :01:03. | :01:06. | |
numbers are likely to be quite robust. A figure of 4.7, we are | :01:07. | :01:15. | |
looking at something like 5%. That should bring the close to around 5%. | :01:16. | :01:24. | |
That is what analysts are going for and what the government is | :01:25. | :01:29. | |
expecting. The numbers show a pretty strong manufacturing output. They | :01:30. | :01:39. | |
have all gone up, including production, even in the fuel | :01:40. | :01:48. | |
sector. As you say, they are going to be robust figures. We know that | :01:49. | :01:55. | |
the Malaysian currency has fallen 20% against the US dollar, one of | :01:56. | :01:59. | |
the region's worst performing currencies. Has that helped or | :02:00. | :02:03. | |
hindered Malaysia? That gives a lift exports. It is doing both. For | :02:04. | :02:16. | |
exporters, they are doing very well. The question is whether it is | :02:17. | :02:20. | |
exporters are able to translate the more competitive currency into | :02:21. | :02:26. | |
production. That is used on production worries, labour and so | :02:27. | :02:35. | |
on. We have put that the political uncertainty. All of these | :02:36. | :02:41. | |
allegations surrounding the Prime Minister and concerns about the NDP. | :02:42. | :02:51. | |
Will the impact investor confidence? It is impacting more on consumer | :02:52. | :03:00. | |
confidence. If we look at consumer sentiment, and we have got various | :03:01. | :03:08. | |
calls looking out into 2016, those of the bad. Private investment, | :03:09. | :03:16. | |
understanding that this is from a lube base, is still increasing. -- | :03:17. | :03:25. | |
low base. In other business news, the | :03:26. | :03:27. | |
International Monetary Fund has signalled it will soon decide on the | :03:28. | :03:34. | |
Chinese yuan as one of the reserve currencies. China last year asked | :03:35. | :03:53. | |
the IMF for its currency. Brazil says it will find mining | :03:54. | :04:05. | |
giants for the game -- dam burst which killed 18 people. The firms | :04:06. | :04:12. | |
could face even higher fines from environment will regulators for | :04:13. | :04:16. | |
pollution and state prosecutors are considering whether to pursue | :04:17. | :04:22. | |
criminal charges. Currency fluctuations in South East Asia are | :04:23. | :04:24. | |
causing headaches or many businesses. Now the biggest | :04:25. | :04:29. | |
telecommunications operator in the region has reported flat profits, | :04:30. | :04:33. | |
with exchange rates being part of the problem. It makes most of its | :04:34. | :04:42. | |
money elsewhere. Our Asia business correspondence has been speaking to | :04:43. | :04:47. | |
the chief executive. If you look at the quarter's earnings on a currency | :04:48. | :04:56. | |
basis, underlying earnings are up 4% on the reported basis. On the bottom | :04:57. | :05:08. | |
line, it has got a 4% impact. That is mainly from the steep | :05:09. | :05:23. | |
depreciation. Those two are very large reported earnings for us. And | :05:24. | :05:29. | |
what is your projection for this year, given we have a period of | :05:30. | :05:39. | |
slower growth? We have currency exposure. If we have a foreign | :05:40. | :05:43. | |
currency, we will hedge that. In terms of currency translation, there | :05:44. | :05:51. | |
is really not very much that can be done with 70% of our earnings not | :05:52. | :05:56. | |
being denominated in Singapore dollars. The translation impact will | :05:57. | :06:02. | |
always come up. Part of the impact is mitigated. While the rupiah | :06:03. | :06:15. | |
depreciated 6%, we saw the peso depreciating against the Singapore | :06:16. | :06:19. | |
dollar. Part of it is managed through diversification. He received | :06:20. | :06:25. | |
a salary of more than $4 million last year, a jump of 19%. How can | :06:26. | :06:29. | |
you justify that to your shareholders? I am not sure if I am | :06:30. | :06:34. | |
the best person to talk about with my compensation. If we look at how | :06:35. | :06:39. | |
we pay our senior executives, profit is one they mention. The other day | :06:40. | :06:44. | |
mention its overall value created and how we create value in times of | :06:45. | :06:54. | |
returning to shareholders. It is not just a single profit number that we | :06:55. | :07:03. | |
look at. India's Prime Minister, Narendra | :07:04. | :07:06. | |
Modi, is in the UK, and keen to convince the dish firms to do | :07:07. | :07:11. | |
business in his country. From motorbikes to copy, some well-known | :07:12. | :07:23. | |
means operate there. And now the trend to cash in on the growing | :07:24. | :07:27. | |
partnership. If you break down and the UK, | :07:28. | :07:33. | |
chances are you will call the AA. It is the biggest roadside assistance | :07:34. | :07:36. | |
company in the country. It has 14 million customers and came to the | :07:37. | :07:44. | |
aid of 3.5 million last year. It has got its sights on a brand-new | :07:45. | :07:48. | |
market. The roads of India's cities are already pretty congested. Car | :07:49. | :07:53. | |
ownership is on the rise. Every month around 150,000 new cars are | :07:54. | :07:59. | |
sold across India. While those vehicles will have warranties and | :08:00. | :08:03. | |
breakdown cover, it is estimated at more than 20 million cars do not. | :08:04. | :08:09. | |
That gap in the market is white the AA has purchased half the breakdown | :08:10. | :08:17. | |
business. It is a very large marketplace. We think it will be | :08:18. | :08:22. | |
three times the size of the UK market in the next four years. There | :08:23. | :08:26. | |
will not be any of the famous yellow trucks on the road, but you will | :08:27. | :08:34. | |
find its logo on its new partner. We needed a local partner with local | :08:35. | :08:38. | |
contacts and local expertise. We believe that local business will | :08:39. | :08:43. | |
benefit from our experience. We have been going ten years. We have a lot | :08:44. | :08:52. | |
of knowledge and experience. The technology appeals. In the drivers | :08:53. | :08:59. | |
tend to only call the firmware problem occurs. The TV as once | :09:00. | :09:03. | |
customers to pay in advance for breakdown membership. The customer | :09:04. | :09:19. | |
wants service technicians coming. They want to deliver the same | :09:20. | :09:23. | |
promise in India and in emerging markets. That is where they can make | :09:24. | :09:34. | |
a difference. Changing that habit and selling the idea of a recovery | :09:35. | :09:37. | |
service run by two well-known established brands will determine if | :09:38. | :09:42. | |
the ad venture proves more than a quick fix. A quick look at the | :09:43. | :09:50. | |
markets before we go. Most of the ones in Asia are falling down 1%. We | :09:51. | :10:06. | |
are seeing energy stocks, commodities shares being sold off | :10:07. | :10:13. | |
because commodity prices have been falling at a six-year low. Oil | :10:14. | :10:20. | |
prices as well have been plunging. That is it for Asia Business Report. | :10:21. | :10:22. | |
Thank you for watching. Britain and India have announced new | :10:23. | :10:35. | |
business deals worth more than thirteen billion dollars | :10:36. | :10:39. | |
during an official visit by | :10:40. | :10:42. |