Survey suggests Malaysian businesses remain undaunted despite worsening conditions.
According to the Malaysian Business Sentiment Survey 2016/2017 that was conducted by Monash University Malaysia’s Global Asia in the 21st century research platform, business is expected to worsen within the next 12 months. The survey contributed this effect to the unprecedented and volatile past year with dampened global demand, the Brexit, potential further fracturing of the E.U., and protectionist policies in the U.S. under the new Trump administration, to name a few.
“The Malaysian Business Sentiment Survey helps measure confidence of local business leaders across key macro-economic areas and provides them a platform to voice their sentiments and estimations about the business environment in Malaysia, and its impact on their global competitiveness. Events of the past year have been unprecedented and global markets have been extremely unstable,” said Professor Mahendhiran Nair, Vice President (Research & Development) of Monash University Malaysia.
Despite worsening business conditions, Malaysian businesses remain optimistic. Specifically, the survey suggested that the spirit of the local business community remains optimistic with 58 percent confidence projected towards its business prospects.
The survey also highlighted that 49 percent of businesses believe that a balance between the opportunities and threats still exists in the business world, and that that balance is stronger now than it was three years prior.
(From left to right) Sharman Arumugam, Deputy President, CPA; Professor Mahendhiran Nair; Professor Pervaiz; Jimmy Lai, Deputy President, CPA; Associate Professor Santha, and Dr. Prabahkaran Narayanan, School of Business.