[ad_1]
KUALA LUMPUR, Nov 1 — Malaysian firms remain optimistic about the global economic environment despite headwinds such as rising protectionism and the trade tensions between the United States and China, according to the HSBC Navigator survey.
In a statement today, HSBC Malaysia said based on the 200 Malaysian firms polled, they have a positive outlook about their prospects, fuelled by rising customer demand and a favourable economic backdrop.
Only 25 per cent of the respondents view the US-China trade dispute as a hindrance to their business.
“In fact, nearly half (48 per cent) deemed the ongoing trade dispute as a business opportunity given the potential to see a shift in regional supply chain patterns,” it said.
HSBC Navigator is a global survey of more than 8,500 businesses across 34 of the world’s major markets, gauging business sentiment and expectations on trade activity and business growth. The research was conducted in August and September.
The Navigator report also revealed that Malaysian business confidence is on the rise, underpinned by intra-Asia opportunities with firms eyeing China, Singapore and Indonesia for future expansion.
It said nine out of ten (89 per cent) companies in Malaysia are positive about the trading environment, significantly higher than the global average of 78 per cent.
At a company level, 91 per cent of the Malaysian respondents are confident that their companies would succeed in the current environment, with consumer confidence being the top factor driving the optimism (39 per cent).
HSBC Bank Malaysia Bhd Chief Executive Officer Stuart Milne said Malaysian firms believe the current environment can present opportunities to capture market share although Malaysia’s market openness may create trade and economic vulnerabilities from the ongoing US-China trade dispute.
“These firms are also looking closer to home for opportunities and are adapting their approach to stay fit for the future.
“We expect technology, digitisation and data utilisation to play an increasingly strategic role in enabling businesses to develop their products and services, reach new customers and cut costs by improving operational efficiency,” he said. — Bernama
Source link
