21/06/2016 Asia Business Report


21/06/2016

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One of Singapore's leading retailers tells us how a vote to leave the EU

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by the UK could affect businesses in Southeast Asia. And, never mind the

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human cards, are robots the future of customer service? -- the human

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touch. Good morning, Asia. Hello, world. I'm in Singapore. This is

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Asia Business Report. Thank you for investing your time with us. While

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the UK gets ready to vote, business leaders in Southeast Asia are also

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keeping a close eye on the upcoming referendum that will determine

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whether or not the UK will remain in the EU. So, our businesses in the

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region concerned, all will be impact be limited? -- are. I spoke with a

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Chief Executive of a furniture and technology retailer. I asked him how

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it would impact his company's operations in Asia? We have some

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British brands but it is not an overall majority. We have learnt the

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lessons from the global financial crisis. Issues that affect the

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economy in a connected world can spill over quickly. This isn't just

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about the UK, but the future of the EU. In a world where, as I

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mentioned, there is the focus on the freedom of movement, goods services,

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free trade barriers, integration and disintegration, what are the odds

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of, a worst-case scenario, potentially, if the UK does exit the

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EU, what are the odds of trade barriers the retroactive? -- be. We

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have to reflect on the UK's position in the world as an open, tolerant,

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progressive, and technology-based society. We bring so much to the EU

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and so much to the world grew EU institutions, it may take 10- 20

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years to get those trade deals back. It took two decades to get those

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individual trade barriers. You ran the British chamber of Commerce. How

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do you see the difference is changing? In our dealings with

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Singapore, they wanted to talk to the EU as it representation of

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ourselves, and Germany, and France, through the EU. That is playing out

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on a political scale as well We are far stronger as a nation within the

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EU. The Chief Executive speaking there. Is still on the referendum,

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Nissan is taking action against the referendum after their logo was used

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on a pamphlet to leave. Executives from the firms said they would like

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to remain in the EU. And Walmart is selling its on line claim for a 5%

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stake in the e-commerce giant. The deal will give Walmart exposure to

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other parts of China where its on line operation is less well-known.

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If you like fast machines look at this. It is a new Chinese

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If you like fast machines look at this.

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which has topped the list of the world's most powerful

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It is intended for use in engineering and research as well as

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data analytics. When Forbes unveiled its first India power business women

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list this year it was dominated by women who were either born into

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wealth or have married into it. Is this likely to change as India's

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economy grows? We put that question to a 31-year-old woman running

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successful businesses and franchises. She is the daughter of

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the owner of India's biggest private bank. I already see a positive

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change already happening. Not to be sounding biased, but there is a lot

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of funds which are actually looking specifically for women who are

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leaders. There are things like a commission giving out funds for

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female leaders and people who are looking to set up education centres.

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There is the IFC with Goldman Sachs who are actually supporting about

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10,000 women. They belong to the top of the pyramid. Things are already

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happening so I am pretty optimistic. You didn't really look for funds to

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your own start-ups. Your family has a fund set up for you. So far, we

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are self-funded. But I think eventually, and I think very soon,

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we will look at a fundraising opportunity and investment

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opportunity. You have set up businesses, whether it is a laundry

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service, or a co- working space, how do you start the business you want?

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The idea of these creations was to look at the new age, game-changing,

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breakthrough ideas. It worked well in the US. So, I think if we can

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model it this way, which we are embarking to do, you don't just

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focus on education but a start-up system. We run a programme with

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Microsoft where we can help mentor start-ups. We have an investment arm

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where we look for one to 5 million dollars venture is. -- ventures. I

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think we are sort of looking towards a more knowledge driven economy. I

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think training and skill, all of that, it's important. Staying with

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India, the aviation industry could be one of the biggest companies to

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receive benefit from new rules. Airlines and defence businesses have

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been positively affected getting respite from a rule that required

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30% of what they sold to be sourced from within India. Are robots

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replacing cars? That is no longer a question but a reality in many

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industries. More than 1.3 million industrial robots will be in the

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industry by 2030. They will cost 5 million jobs in 15 major economies.

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The current leader in automation is South Korea followed by Japan. But

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China is catching up. The robots they are increasingly interacting

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with customers. -- there are. MUSIC PLAYS.

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Hello. Hello. What is your name? Do you have any friends? Yeah. I have

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many friends. You have friends working in other cities? I do.

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Beijing? Yeah. Shenzen? OK. Thank you very much. Goodbye. Can we be

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friends? Yeah. We can. Can I have your phone number? No. Nice to meet

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you. Nice to meet you too. A quick look at the markets. They are all

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flat. Slightly lower at the moment. That is it for Asia Business Report.

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Thank you for

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