04/02/2016 Asia Business Report


04/02/2016

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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A signing ceremony for the ambitious trade deal, the Trans-Pacific

:00:15.:00:22.

Partnership, which President Obama hails one of the biggest in history.

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And it is owning season in Japan. We look today at tech giant Sharp and

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Toshiba. Happy Thursday, everyone, glad you can join us for Asia

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Business Report. We start with a long-awaited Trans-Pacific

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Partnership, which has taken another step towards becoming a reality

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today. It has been signed in New Zealand. States can ratify or reject

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the agreement. The deal includes 12 countries which account for 40% of

:01:02.:01:10.

the economy. We can look at the winners and losers and the impact on

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the economy. President Obama welcomed the signing

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seeing it allows America to write the rules in the Asia-Pacific and

:02:27.:02:31.

not countries like China. The ceremony has been accompanied by

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large protesting in many countries -- saying. This was the scene in

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Washington, DC across the White House. There is doubt whether the US

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Congress will support it before President Obama leaves office next

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January. This was Auckland, where the deal was signed, and we saw

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protesters marching through the streets against the PPP. Earlier I

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spoke to the New Zealand trade minister and I asked if he expects

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the deal to be ratified by all member countries -- TPP. I am

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confident it will be. Each country will go through those processes. The

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signature in Auckland on Thursday is a commitment by each of those

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administrations to move through the ratification process, and the

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agreement itself gives two years for that to happen. Japan and the US

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would have to ratify that to meet the requirements of GDP to be

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enforced. All of the feedback I have had from the various delegations is

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that they are more than confident and optimistic that they will be

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able to do what they need to in their own domestic processes.

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Minister lay, what will be the benefits of the Trans-Pacific

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Partnership for New Zealand -- minister McLay. The benefits are

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quite significant. We are a trading nation, a small country a long, long

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way away, from many of the world's most important markets. This gives

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us access to 800 million consumers who spend $27 trillion every year on

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GDP. When the TDP is fully enforced, more than 90% of all of

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the goods and services that we sell to these 11 other countries will be

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tariff free, quota free -- TPP. It allows New Zealand business and

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enterprise to play a role and be part of the manufacturing chain

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that's becoming so important not only in those countries but many

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other parts of the world. New Zealand trade minister POD -- Todd

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McLeay. Technology company Sharp has reported earnings today, it is

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struggling to make money and focus has been on the takeover or the

:04:42.:04:45.

bailout bid. It has to decide between the rescue plan by the

:04:46.:04:48.

innovation network operation of Japan and an offer by Taiwan's

:04:49.:04:53.

Honghai and electronic. I asked David Rubin Steyne which one is the

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better fit. Be better if it would be in Japan. Innovation's offer is less

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than half of Honghai but there is arguably more synergy if Innovation

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bought Sharp, they are hoping to combine the business with Japan

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Display, which has a third of the Apple market. Tashi the reports

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results as well and it is trying to lay the massive accounting scandal

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to wrest -- Toshiba. It will implement long overdue structural

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reforms. -- unrest. The owner of KFC reports stronger than expected

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results. In the last three months of last year sales at its Chinese

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stores rose 7%. It has suffered setbacks on the mainland following a

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food scandal. It is selling off its mainland business. Former head of

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the IMF Strauss Kahn is joining the board of a bank owned by a Ukrainian

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billionaire. He resigned as IMF director in 2011 after being accused

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of raping a woman at a New York hotel. The allegations were later

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dismissed. The Chinese chemicals group Chem China offered $40 billion

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to take over Syngenta, the biggest deal takeover by a mainland firm. I

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ask Ed Vinalis what is behind this transaction. The reason why this

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deal has come about is a story of China's emerging economies -- Ed

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Vinales. They want to secure food supplies for 1.5 billion people,

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that is 20% of the world's population. And they want to ensure

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that that food supply is coming from within its borders, from the... And

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the 200 -300 million farmers are part of that solution. These farmers

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have hugely efficient processes. They need to modernise these

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smallholder farmers otherwise they can source food from imports but

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that does not guarantee the food security that they are looking for.

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And if these smallholder farmers are not part of the solution they will

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migrate to overcrowded cities, so it is about modernising China's

:07:25.:07:32.

agricultural industry. And as Chem China's chairman said yesterday, we

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want to spread Syngenta's integrated solution to these smallholder

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farmers. Research is in Singapore have come up with a sticky solution

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that could revel is everything from surgery to food prepared at sea --

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researchers. They have designed clue which works in wet environment and

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we have the details -- glue. It sounds like science fiction, and

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glue which hardens underwater with electricity. Here at a Tech

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University my research is have made it a reality. So, can you show us

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how it works? My pleasure. So, it works on the premise that all we

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need is a small voltage, it will insulate surfaces together. Right

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now there is nothing we can use that has strong adhesion that will hold

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these very dirty, wet environments. It works with a completely new

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mechanism, so it does not work with a normal adhesive that allows it to

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bond to proteins and tissues naturally. All we have to do is just

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put a small drop of our Lou to this surface -- glue to this surface, we

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put it together and we can see it is not adhesive. It is like normal glue

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that we can reposition as we need to but as soon as we apply the

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electrodes to it, the plus and -, here we have it set up already, all

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we do is we apply two vaults and we wait for a couple of minutes to let

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this work and then after that it will cross link between these pieces

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of conductive substrates. It is done. We can take out the

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electrodes. Once we take those out, we can show that it is not dropping

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and the adhesion has worked across these pieces of plastic. -- plus and

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and -. The Professor says it will be several years before the glue is on

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the market for surgeries, at least, but this underwater adhesive

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promises to transform the way that ships, pipelines and people are

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repaired. Most of Asia's stock markets are in positive territory

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after US equities had a sharp turnaround overnight as the price of

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oil rebounded by 8%. However, the Nikkei two is down about 1%, at 142

:10:05.:10:11.

points, as the US dollar fell against the Japanese yen. However,

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you have the All Ordinaries index gaining 1.1%. The greater Chinese

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market is in positive territory. Hong Kong is gaining 1% and the

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Shanghai and Shenzhen composite index are both in the plus column.

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Thank you so much for interesting your time with us. I am Rico Hizon.

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Goodbye for now. -- investing your time with us.

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Watching BBC News. No you're watching BBC

:10:49.:10:49.

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