:00:17. > :00:22.One of Singapore's leading retailers tells us how a vote to leave the EU
:00:23. > :00:31.by the UK could affect businesses in Southeast Asia. And, never mind the
:00:32. > :00:41.human cards, are robots the future of customer service? -- the human
:00:42. > :00:43.touch. Good morning, Asia. Hello, world. I'm in Singapore. This is
:00:44. > :00:46.Asia Business Report. Thank you for investing your time with us. While
:00:47. > :00:52.the UK gets ready to vote, business leaders in Southeast Asia are also
:00:53. > :00:56.keeping a close eye on the upcoming referendum that will determine
:00:57. > :01:03.whether or not the UK will remain in the EU. So, our businesses in the
:01:04. > :01:10.region concerned, all will be impact be limited? -- are. I spoke with a
:01:11. > :01:15.Chief Executive of a furniture and technology retailer. I asked him how
:01:16. > :01:22.it would impact his company's operations in Asia? We have some
:01:23. > :01:26.British brands but it is not an overall majority. We have learnt the
:01:27. > :01:33.lessons from the global financial crisis. Issues that affect the
:01:34. > :01:38.economy in a connected world can spill over quickly. This isn't just
:01:39. > :01:42.about the UK, but the future of the EU. In a world where, as I
:01:43. > :01:50.mentioned, there is the focus on the freedom of movement, goods services,
:01:51. > :01:53.free trade barriers, integration and disintegration, what are the odds
:01:54. > :02:01.of, a worst-case scenario, potentially, if the UK does exit the
:02:02. > :02:07.EU, what are the odds of trade barriers the retroactive? -- be. We
:02:08. > :02:12.have to reflect on the UK's position in the world as an open, tolerant,
:02:13. > :02:19.progressive, and technology-based society. We bring so much to the EU
:02:20. > :02:24.and so much to the world grew EU institutions, it may take 10- 20
:02:25. > :02:30.years to get those trade deals back. It took two decades to get those
:02:31. > :02:40.individual trade barriers. You ran the British chamber of Commerce. How
:02:41. > :02:44.do you see the difference is changing? In our dealings with
:02:45. > :02:52.Singapore, they wanted to talk to the EU as it representation of
:02:53. > :02:58.ourselves, and Germany, and France, through the EU. That is playing out
:02:59. > :03:04.on a political scale as well We are far stronger as a nation within the
:03:05. > :03:14.EU. The Chief Executive speaking there. Is still on the referendum,
:03:15. > :03:24.Nissan is taking action against the referendum after their logo was used
:03:25. > :03:29.on a pamphlet to leave. Executives from the firms said they would like
:03:30. > :03:38.to remain in the EU. And Walmart is selling its on line claim for a 5%
:03:39. > :03:43.stake in the e-commerce giant. The deal will give Walmart exposure to
:03:44. > :03:48.other parts of China where its on line operation is less well-known.
:03:49. > :04:01.If you like fast machines look at this. It is a new Chinese
:04:02. > :04:03.If you like fast machines look at this.
:04:04. > :04:07.which has topped the list of the world's most powerful
:04:08. > :04:14.It is intended for use in engineering and research as well as
:04:15. > :04:19.data analytics. When Forbes unveiled its first India power business women
:04:20. > :04:24.list this year it was dominated by women who were either born into
:04:25. > :04:32.wealth or have married into it. Is this likely to change as India's
:04:33. > :04:35.economy grows? We put that question to a 31-year-old woman running
:04:36. > :04:39.successful businesses and franchises. She is the daughter of
:04:40. > :04:46.the owner of India's biggest private bank. I already see a positive
:04:47. > :04:53.change already happening. Not to be sounding biased, but there is a lot
:04:54. > :05:00.of funds which are actually looking specifically for women who are
:05:01. > :05:06.leaders. There are things like a commission giving out funds for
:05:07. > :05:13.female leaders and people who are looking to set up education centres.
:05:14. > :05:23.There is the IFC with Goldman Sachs who are actually supporting about
:05:24. > :05:27.10,000 women. They belong to the top of the pyramid. Things are already
:05:28. > :05:33.happening so I am pretty optimistic. You didn't really look for funds to
:05:34. > :05:39.your own start-ups. Your family has a fund set up for you. So far, we
:05:40. > :05:44.are self-funded. But I think eventually, and I think very soon,
:05:45. > :05:49.we will look at a fundraising opportunity and investment
:05:50. > :05:54.opportunity. You have set up businesses, whether it is a laundry
:05:55. > :06:01.service, or a co- working space, how do you start the business you want?
:06:02. > :06:10.The idea of these creations was to look at the new age, game-changing,
:06:11. > :06:25.breakthrough ideas. It worked well in the US. So, I think if we can
:06:26. > :06:30.model it this way, which we are embarking to do, you don't just
:06:31. > :06:36.focus on education but a start-up system. We run a programme with
:06:37. > :06:50.Microsoft where we can help mentor start-ups. We have an investment arm
:06:51. > :06:59.where we look for one to 5 million dollars venture is. -- ventures. I
:07:00. > :07:08.think we are sort of looking towards a more knowledge driven economy. I
:07:09. > :07:14.think training and skill, all of that, it's important. Staying with
:07:15. > :07:22.India, the aviation industry could be one of the biggest companies to
:07:23. > :07:30.receive benefit from new rules. Airlines and defence businesses have
:07:31. > :07:34.been positively affected getting respite from a rule that required
:07:35. > :07:41.30% of what they sold to be sourced from within India. Are robots
:07:42. > :07:45.replacing cars? That is no longer a question but a reality in many
:07:46. > :07:56.industries. More than 1.3 million industrial robots will be in the
:07:57. > :08:01.industry by 2030. They will cost 5 million jobs in 15 major economies.
:08:02. > :08:07.The current leader in automation is South Korea followed by Japan. But
:08:08. > :08:16.China is catching up. The robots they are increasingly interacting
:08:17. > :09:32.with customers. -- there are. MUSIC PLAYS.
:09:33. > :09:53.Hello. Hello. What is your name? Do you have any friends? Yeah. I have
:09:54. > :10:10.many friends. You have friends working in other cities? I do.
:10:11. > :10:15.Beijing? Yeah. Shenzen? OK. Thank you very much. Goodbye. Can we be
:10:16. > :10:28.friends? Yeah. We can. Can I have your phone number? No. Nice to meet
:10:29. > :10:35.you. Nice to meet you too. A quick look at the markets. They are all
:10:36. > :10:37.flat. Slightly lower at the moment. That is it for Asia Business Report.
:10:38. > :10:40.Thank you for