Owners show faith in country despite unsure global future
San Francisco, CA -- (SBWIRE) -- 01/04/2013 -- Business owners across Malaysia are expressing a gained confidence regarding the country's economy, according to a survey that was released in Grant Thorton International Business Report.
SJ Grant Thornton managing partner Datuk NK Jasani stated that the survey result aided in Malaysia's position back to a +12%, compared to the -4% a year prior.
“The IBR has also revealed that 52% of Malaysian businesses are expecting higher revenue for the year ahead.”
Forty-two percent of businesses expected to invest in foundational infrastructure business, such as plant and machinery endeavors, while 35% expect profitability for the upcoming year according to Jasani.
He also noted that owners in neighboring countries appeared optimistic for the upcoming new year.
“The Philippines reigns as the most optimistic at +72% in the region followed by Singapore at +26% and Thailand at +19%. Vietnam has dropped from +34% (last year) to -10%,” he said.
The International Business Report expressed that the decline of global optimism in the realm of business was largely due to a fall in general world United States' faltering in the past half-decade.
According to the report, the concern of the U.S. fiscal cliff and other ongoing concerns regarding the eurozone are lessening all growth prospects.
The IBR is a survey of over 3,000 business leaders in 44 economies reveals that optimism at the global scale is at a net 4% heading into 2013. Optimism at the same time last year stood at 0% for 2012.
Jusani made note that the upswing in proper economic business optimism that has been seen in the last first half of the year can be attributed to the announcements by the EBC and Federal Reserve to support their economies. According to Jasani, that confidence had started to vanish in the second half of the year.
“By contrast, emerging economies have remained far less volatile. It’s a fascinating trend which drives home where the major problems in the global economy lie at present.
“Economic uncertainty understandably elicits a ‘wait and see’ policy from businesses, but we would urge owners not to lose sight of their long-term growth objectives. Opportunities exist for those dynamic businesses which are prepared to balance reason with instinct in their decision making,” said Jasani.
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