Grant Thornton: Malaysian business confidence improves
KUALA LUMPUR: Business leaders in Malaysia are more optimistic compared to just a year ago, according to a new finding by Grant Thornton’s quarterly business survey.
In a statement yesterday, Grant Thornton said the survey – the International Business Report (IBR) – involved 2,500 businesses across 36 economies.
Grant Thornton Malaysia Country Managing Partner, Datuk NK Jasani said the IBR revealed that the optimism level in Malaysia rose to six per cent, the highest level since 2014, a vast improvement compared to a year ago (-36 per cent).
“Global business optimism is at a positive level too at 58 per cent, the highest ever, and the level of optimism in the Asean region is also at its best at 58 per cent, the highest since 2011,” he said.
The survey revealed that confidence level had also surged by 100 per cent in Indonesia, and 86 per cent in the Philippines.
NK Jasani said the survey revealed that 62 per cent of Malaysian business owners expected an increase in revenue.
“Additionally, 44 per cent of business owners are expecting an increase in exports for the year ahead, the highest in Asean, while 30 per cent expect an increase in selling prices, and 58 per cent an increase in profits,” he added.
NK Jasni said as optimism improved, more firms in Malaysia began investing in their long-term growth and the IBR also found that 54 per cent of Malaysian business owners planned to increase spending on plant and machinery.
“This is the highest among Asean countries and way above the global average of 36 per cent,” he said.
Grant Thornton is one of the world’s largest professional services network of independent accounting and consulting member firms which provide assurance, tax and advisory services to privatelyheld businesses, public interest entities, and public sector entities. — Bernama