Malaysian business community more confident on economy, says survey

KUALA LUMPUR: Malaysian business owners are more confident on the country’s economy, said the Grant Thornton International Business Report (IBR).

Managing partner of SJ Grant Thornton, Datuk NK Jasani, said the survey findings showed that this had pushed the country’s position back on the positive 12 per cent compared to negative four per cent this time last year.

“The survey has also revealed that +52 per cent of Malaysian businesses expected higher revenue for the year ahead,” he said.

Jasani said +42 per cent of businesses were expected to invest in plant and machinery and +35 per cent expected profitability for the year ahead.

The IBR, a survey of 3,200 business leaders in 44 economies, also revealed that global business optimism stood at just net four per cent heading into the New Year when optimism level was at zero per cent this time last year.

Grant Thornton said business owners in neighbouring countries were also optimistic on the economy next year.

“The Philippines reigns as the most optimistic at +72 per cent in the region followed by Singapore at +26 per cent and Thailand at +19 per cent,” it said.

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