13/01/2014 Asia Business Report


13/01/2014

Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.


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rejected a call by 95 Tory backbenchers for Parliament to be

:00:00.:00:00.

given powers to veto laws from Brussels. Mr Hague said that the

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idea was unrealistic. Now on BBC News, all the latest business news

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live from Singapore. Threat to grow. The economic impact

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of the shutdown in Bangkok. An export ban. Indonesia lays down the

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law on the country's mineral ore industry.

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Welcome to Asia Business Report. We began in Bangkok where

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anti-government protesters are planning to shut down Thailand's

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capital. The aim to oust the Prime Minister Yingluck Shinawatra and her

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cabinet following widespread ministrations. She has called for an

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election in February. Processes hope to block it from happening since

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polls indicate the government would stay in power. Thailand could use

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$30 million per day for every day of political stand. -- political

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stand-off. It is very difficult for major

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corporations and businesses in Bangkok to operate. They are

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expecting between 150,000 to 450,000 demonstrators in support of the

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opposition today. That is going to close down Bangkok. Even outside of

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Bangkok we are seeing the red shirts looking to close down places like

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Chang Mai. It'll have a big impact on business.

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It seems an tractable what is going on at the moment. The Thai Chamber

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of Commerce last week said some $30 million is being lost per day. Will

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the damages be protracted? Will they be long-lasting ?

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The most recent was in 2006. We saw big demonstrations in 2010. Every

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time, Bangkok has bounced back strongly. It has a resilience that

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has surprised analysts around the world every single time. I don't

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expect anything different this time. I think that a guest amateur talent

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will be the tourist dollar. Big airlines like Singapore airlines are

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affected. It is not because they are worried about the threat, although

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that would be there, it is more a round the mainland Chinese and

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tourists around the world who just on travelling. The controversial new

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law came into force in Indonesia yesterday banning exporting

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unprocessed minerals like nickel and tin.

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They want to keep more profits within the country but they want of

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job cuts. The Indonesian President diverted things to affect exports.

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It will impact several large companies like Freeport.

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The underlying concept was to develop downstream processing of

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mineral ores. These kinds of facilities take a lot of investment.

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For small companies the only option is to outsource and process within

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third parties. At the moment they have relaxed basic infrastructure. A

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lot of their facilities and projects are a long way. Apart the issue is

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over implementation and timing. We also saw the nickel price going

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up my jumping about 3% on Friday in anticipation of the bank. It is

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having international repercussions of markets. There are also

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inconsistencies with an election coming up. Will be more clarity?

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Hopefully, once the presidential regulation is issued. At the moment

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there is a lot of uncertainty around that. Example, the Supreme Court in

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Indonesia revoked the 2012 regulation which set up a minimum

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processing requirements. It is very unclear how the ban is going to be

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implemented and enforced going forward.

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For more on that story and other business headlines you can go on our

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website. China's securities regular track Mission plans to strengthen

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conditions over the stock market. New measures will include random

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inspections and procedures of a building and roadshows. A statement

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from the stock market regulator comes after one Chinese firm dilated

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share sale after pricing above the industry average. Food scares have

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become increasingly common in the headlines these days. One week a go

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at Walmart recalled donkey meat. Horsemeat has also been found across

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Europe. A global food safety partnership is trained to tackle

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this, made up of 70 countries and other organisations. It looks at how

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food is traded across borders. A spokesman if from one organisation.

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You need to understand how you test a product and you with borders and

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customs. That, in totality is complicated. It can Michu

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harmonisation to make sure that a flow of products between countries

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is smooth. That is what different regions are trained to harmonise and

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bring together. If we look at places that have had

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different food scares over the years. China has ten the chief

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culprit. A committee is being set up in the country. It country also has

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a protectionist stance in terms of letting food and the standards it's

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has raised over imported food... How is it acting as an impediment was

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mark in the case of China, it is very interesting.

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We speak alert food safety and go back for the last five years, China

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has been growing fast acting on different occasions. We are now

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seeing dynamics in reforming food safety system in the country. It

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will take time until we see the whole food safety system in China

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changing. In the coming 510 years we see China being more active. --

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coming five to ten years. I think they are moving from reforming food

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safety policies and standards to looking more at global level.

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The Golden Globes awards are under way in Hollywood. Keeping with the

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movie theme, we spoke to a film director in India who funded his

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latest work through an unusual method online in a crowd funding.

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That was after he was unable to find reduces unable to prepare to pay for

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a film in his native language in Canada.

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I have done about three feature films in Canada. I was bothered by

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needing to adjust my script because the producer wouldn't think it makes

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sense. I wrote a frustrated block the excess at -- frustrated blog

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because the key to it is the audience. It went viral. Within two

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or three days I started getting people saying, why don't we all

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pitch in something for the song. I didn't know that it was called crowd

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funding. I said, OK, they will blame me if I don't do anything.

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I put up the proposal and a request for $5 million will -- $5 million.

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The first person to put money into it didn't know anything about it. A

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realised I had started a revolution. We gave ourselves about 100 days to

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raise the funding. We got it and 27 days. We got it from about 510

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random people I have never met. Once we were filming, and I figured we

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had enough money to finish the film, it was becoming popular day by

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day because of the music. Some of the audience wanted to watch it on

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the big screen. When you have a film on the big screen it is another big

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investment. We created an online web page where some it could pre- order

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the film and become a distributor. That person can share the film would

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anybody he wants and gets a cut from the sales. What was happening was

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that we were encouraging people to share the legal length rather than

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torrent links because they could make money off it. Because we were

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getting the money is a pre- order, we were using it for distribution.

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Everything fell in place. This was the first film to experiment with on

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distribution will stop I think it will grow bigger from now.

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Let's have a look at markets. We saw wicked than expected payrolls

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reports out from the US on Friday. It is ironically boosting

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expectations of the Federal Reserve. It is having a positive

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impacts on Asian markets amongst those that are open.

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