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June 26, 2007

Malaysians more confident of prospects in 2007
Malaysian businesses are generally more optimistic about their business prospects this year, says Shamsir Jasani's associate director Geoffrey Foo.

Quoting the International Business Report (Malaysia Report) 2007, launched in Kuala Lumpur June 26, he said 77% of Malaysian businesses interviewed in a survey have recorded stronger expectations for turnover compared with 58% last year.

Speaking at the launch of the IBR 2007 report, Foo said Malaysians' level of optimism regarding turnover performance was also considerably higher than the general 68 percent recorded in East Asia (China, Hong Kong, Japan, Malaysia, Philippines, Singapore, Taiwan and Thailand).

Malaysian businesses see globalisation as an opportunity rather than a threat to their business (74%) while the businesses in East Asia as a whole viewed globalisation as a threat, said Foo.

He added, the proportion of Malaysian companies exporting has increased in the last year with 44% of local companies exporting seven percent more than last year.

"This is significantly higher than both the East Asian average (30%) and the global average (34%), both of which have fallen slightly since 2006," said Foo.

The event was officiated by Deputy Finance Minister Datuk Dr Ng Yen Yen. The IBR, previously known as the International Business Owners Survey (IBOS), is conducted on an annual basis by Grant Thornton member firms to explore a variety of issues affecting business owners from Medium to Large Entrepreneurs (MLEs) around the world.

The global research examines the attitudes, plans and trends of 7,200 businesses in 32 countries across six continents that include all G8 and the majority of the World Bank's top 20 economies which account for 81 percent of global gross domestic product (GDP).

Key findings released in the survey explores key issues such as the economic prospects, business expectations for 2007, constraints on business growth and expansion, international trade and stress among business owners. Bernama


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