19/11/2015 Asia Business Report

We go live to the Apec summit in Manila for some upbeat reactions on

the TDP. And paying for a purse, we look inside some of the most

exclusive crocodile skin handbags -- TPP. Hello and welcome to Asia

Business Report. It is the final day of the Apec leaders summit in Manila

and President Obama has said he is confident Congress will ratify a

major trade deal called the TPP before the term ends. The

Trans-Pacific Partnership covers 40% of the world economy but has some

high-profile opponents, like US presidential hopeful Hillary

Clinton. Russia and China have criticised the deal but that has not

dented the expectations of business leaders who are meeting a head of

the summit in Manila. Rico Hizon gyms -- joins us now from Manila

outside the Apec centre. Tell us what business leaders are telling

you. Well, at least point, from small to medium-sized businesses to

the large multinational companies, a lot of hope is riding on this

Trans-Pacific Partnership agreement, from retailers like Walmart,

logistics giant FedEx and the energy company General Electric, they have

voiced support for the trade deal, which they hope will bring down

trade barriers in 40% of the world economy. One group that is hoping to

bank some major initiatives in the region is General Electric. I spoke

with the vice-chairman of this power company and asked him about this

initiative. It is enormous because it will touch many of the billion

and a half people in the world that lack the basics when it comes to

electricity, clean water, basic forms of healthcare, basic forms of

transportation. So, hundreds of billions, more, huge amounts of

money, because you are going to touch the world's population that

needs infrastructure. The TPP is discussed at this leaders summit,

what does the approval of it mean for General Electric? Over the long

run, we believe from beginning to end in free and fair trade. We have

about 7000 employees in the ASEAN region. 75% of the work they do in

each country gets exported to another country. The reason we are

able to do that is because of these goods are moving to countries where

trade barriers either don't exist or they are modest. If they go down

from where they are or they are eliminated entirely we will have

more employees in the ASEAN region and we will make more investment and

will be exported other countries and regions around the world -- exported

to. That was the General Electric vice-chairman. Other countries in

the ASEAN region will want to be part of the TPP, Indonesia and the

Philippines for example. Before they can join the group, this 12 member

TPP has to be ratified by the Congress and parliaments of

respective countries. From the Apec meeting, back to you. Thank you. In

other news, Japanese exports fell 21%, a third decline in a year.

These figures underscore the external demand hit by China's

slowing growth -- two .1%. It does show a trade surplus. In point fell

13%, largely in cheaper oil for the country's energy needs the gender

pay gap is an issue for the world. Singapore tops the table among Asian

nations for closing the gap. The number of women in the workforce has

jumped 15% in the decade and it has risen by a comparable amount -- and

salaries has risen. It is however worse for work-life balance and the

birth rate is falling. As part of the 100 women series, we report. A

morning update to kickstart the day at one of Singapore's most valuable

firms. This woman has worked at the telecoms giant SingTel for 27 years.

She was the first woman to break through the ranks of senior

management in the company. Even in this modern and developed city a

woman at the top is still there. She is now the CEO of the group, running

the organisation. She is not alone. At least one third of SingTel's top

decision-makers are made up of women. At their journey has not been

easy. Don't expect to be given any privileges. You've got to work as

hard as anyone. The same desire and the same kind of drive as anyone if

you want to succeed. But very few have managed to levels of success.

Only 15% of the top jobs in Singapore are held by women.

Singaporean women are still struggling to keep up with many of

their Asian counterparts, especially when it comes to female

representation on management boards. Women make up just over 8% of boards

here and they are paid at least 10% less than men doing the same job in

most sectors. Some women choose to opt out of a career altogether to

focus on their families. This woman gave up her job as a doctor because

she wanted to spend more time with her children. Now she runs her own

business and heads an organisation for women entrepreneurs. Culturally

there is still a lot of expectation that women have to be the caregivers

in the household. A lot of women feel they want to be as well. So,

until the workplace environment is conducive to give women the

flexibility to make their families a priority, it will be a challenge and

it will be a struggle. But pushing through Singapore's male dominated

business world may mean making some sacrifices. Even as a postgraduate

student, this woman is clear that if she wants a career, family is not an

option. Working in Singapore is stressful. For me I tend to work

very long. Maybe that is why I don't want kids. It is quite hard to

balance if I want a career. Increasingly, Singaporean women are

setting sights on success. But many are struggling to find the balance

between work and family. Now, how much would you pay for bags

like these? Five, ten, $25,000? This morning we looked at Ada spoke

enterprise board of humble beginnings. Even Coe grew up in his

family's tanning business, who have imported crocodile skins from

Australia, Africa and the US for four generations, supplying the top

fashion houses. In his 20s he went out on his own. He makes bags and he

is talking to Ali Moore. We see ourselves like a private members

club. There are no rules on who can join. It is as simple as word of

mouth. And having the money and ability to afford but also to

appreciate the finer things in life. As a young kid I was always

passionate about crocodile skins, and as they come from four

generations of heritage, I grew up with a tannery at the back of my

home and I would see my father and grandfather collaring the crocodile

skins, which sparked my interest at a very young age. Each bag really

starts from the farm. Each bag in terms of making a day bad for a

woman, the crocodile itself takes about four crocodile Sperber. Does

it offer you at all that these reptiles are killed just for a

handbag? -- per bag. I think for crocodile skins there is a

misconception. It is a tightly regulated process. We have an

organisation called the Convention of International eating in Engage it

Species, which is all part of the programme. -- Endangered. I started

making a my mum's friends and I some pocket money, then I started eating

K. I started with less than $5,000 which is a loan my father gave me

and I have a couple of customers through word of mouth -- Ethan K.

Word of mouth is so important in what we do. You could buy a small

house in some countries for the price of a Ethan K date. Not just a

house but even a part as well. A Ethan K customer is not

aspirational. The Ethan K bag,. Person is someone who has already

arrived -- Ethan K bag. Telling us his story there. Let's look at

markets. Asian shares that are open up having a good day, the Japanese

Nikkei up at a three-month high of. Australia continuing over 1%. Hong

Kong's Ansan just opening up with a good amount of games -- three-month

high. This is because US stocks rallied due to the US Fed suggesting

a rate rise could be imminent. That is it for this edition of Asia

Business Report. Thank you for watching.