16/05/2017 Asia Business Report


16/05/2017

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Ian Brady - one of Britian's most notorious serial killers -

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He killed five children and teenagers in the 1960s.

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We cross to Singapore for the latest business news. Singapore airlines'

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earnings are due out later today. It is still a great way to fly. A windy

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proposition in the Philippines, but will the ousting of the environment

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secretary change its target for renewables? Good morning Asia and

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hello world. It is a Tuesday. Glad you could join us by Asia Business

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Report. I'm Rico Hizon. It is Southeast Asia's biggest airline

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group. But Singapore airlines is dating increasing competition. Some

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analysts suggest the carrier might soon go into debt for the first time

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in more than a decade. So will profits take off or hit turbulence

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this time round? Here is a forecast. I think they will come out with a

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decent profit when the numbers come out. They have strong cash flow.

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They have very deep pockets, and very strategic view of what they

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want to do in the next 3-5 years. I think that they have finally come on

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board and know what to do for the next two years. And they are on a

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record plane buying spree, but are not paying in cash? They are

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starting to have a net debt position. This is an interesting

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thing for Singapore airlines. They have previously only played in cash.

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-- paid. They are saying that money is cheap, interest rates are low, so

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why not go out and diversified? $53 billion worth of new aircraft on the

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pipeline. Will this mean they will be proactively taking on more debt

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in the future? First of all, they will not pay $53 billion. They are a

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strong name and will have a huge discount. What they are doing, if

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you look at the orders, they are looking more at planes like the ABBA

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said to 50. -- Airbus A350. That is where the money will be. They are

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also facing increased competition on the low-end of the spectrum, but

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eagerly AirAsia. And are bringing this low-cost model to China. Will

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the Chinese airlines allow it? -- but especially. They had to try.

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China is the biggest frontier in aviation. They have to be there. I

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think they will do well. They have the resources and the know-how. They

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have very good management. I think everything goes with them. What is

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the potential of success for a Asia in China? Very good. They have grown

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very big in China. They have briefly to do that. -- AirAsia. They now

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have eight close political relationship between Malaysia and

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China. So they have everything going for them in China. But there is a

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huge market within China, as well, where other players will potentially

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command. -- come in in the new future. In other business news,

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Western Digital is seeking international arbitration to stop

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Toshiba from selling its chip business without consent. The two

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companies maintained their largest facilities. The cash bonus could be

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a boost for tissue. The Japanese Company has warned of a net loss of

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around $8 billion US, due to its bankrupt US nuclear business. The

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manual macron has called for a reconstruction of Europe, following

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talks with the German Chancellor in Berlin. On his first foreign trip as

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president, Emmanuel Macron said that he would agree to draw a roadmap to

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changes to the European Union. The two leaders stressed the need to

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deepen integration in the eurozone, and said they would be to change

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treaties is necessary. Gruber has been told to return thousands of

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files downloaded and taken from a self driving car division. -- Uber.

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Gruber has been sued over claims that trade secrets were stolen that

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we use by rival. From right hailing apps to mobile phone SATs, and their

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usage has been on the rise in Asia. Fewer are making trips to the bank

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and ATMs. The use of finance apps has more than doubled in Asia since

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2014. And more than 110 billion sessions took place in Asia last

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year. Earlier, I spoke with someone from a company that compiles darter

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on the app market. We have a birds eye view of these trends. These apps

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have been taking off. They you to deposit tax, either by taking a

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picture, moved money, or pay bills. And they have been growing as you

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said, the large numbers here, over 100 billion sessions in Asia. This

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comes from a low base, because a lot of Asians are still quite

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financially illiterate? It is the biggest market for the use of this

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kind of app. It has grown at over 100% a year. In China, downloads

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grew 200% over the last years. In Southeast Asia, over 150%. In

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Australia and South Korea, sessions are approaching 30 per month, which

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means people use these apps almost every day. Every single day? We are

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quite surprised with all of these numbers. But particularly, where are

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these financial applications being used? I am sure Japan, Singapore,

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South Korea... Most of the developed economies here in Asia. But what

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about Southeast Asia? It is definitely in developed economies.

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It makes sense. From a financial institution standpoint, if you get

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users to use the up for more transactions -- app. That means that

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they are going to branches, ATMs, and overall they save a lot of

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money. Have you deal with cyber attacks? Most banks will secure

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transactions in the same way that they do with credit card, so there

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is fraud, they will secure the transaction if it is reported. -- if

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there is fraud. Regina Lopez recently turned a spotlight on the

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track was in favour of going towards using renewable energy. When funds

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are part of that mix, and one year in Manila -- one area of Manila is

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not only providing jobs, but Torres. It is a huge challenge for the

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Philippines to find cheaper, cleaner, and more efficient ways of

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power its growing population and economy. Jeannot Lopez was forced

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out of a job as environmental Minister after making many enemies.

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-- app. She won the support of environmentalists for her push for

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more renewable energy. We all know that coal and crude oil is a lot

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dirtier. -- Gina Lopez. And with awareness of climate change, we want

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to reduce the admission of carbon into the atmosphere and wind power

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does not produce any carbon emissions. If anything, it produces

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only clean energy for the country. It is a work in process. This farm

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produces more than 150 million kilowatts a year. That is enough to

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power 66,000 households. Still, it is only a fraction of the 20,000

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megawatts of power at the country can now generate. With the

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government expecting energy demand to double by 2030, the Philippines

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must develop and tap into every megawatt he can get. These 27

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turbines are just generate power, they also generate jobs, revenue,

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and even tourism. More than 340,000 visitors have hit this viewing deck

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since it opened to the public last year.

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TRANSLATION: This is helpful in says that a lot of people can see the

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beauty of the Philippines, not just the trash. Here, the air is fresh,

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and people are benefiting from the electricity it generates. AT

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souvenir shops on the way to the farm also do a roaring trade. The

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company here plans to double the size of this windfarm and build new

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ones. Despite the rejection as Environment Secretary, Gina Lopez

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may see her hopes for more renewable energy in the Philippines becoming

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reality. And before we go, here is a quick look at the markets. Beijer is

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rising in early Tuesday trade. Most in positive territory after

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commodity stocks, cybersecurity shares and more went strong. Tokyo

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is up by 120 -- 112.17 points. This is its highest level since 2017. The

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Dow is up by 85 points and the NASDAQ composite index is lower by

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13. They give are investing your time with us. I'm Rico Hizon. Sport

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Today is coming up next. Stay with us BBC World News. You are watching

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BBC News. It has been announced that Ian Brady has died. The

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