Confidence Among Asia Pacific CEOs at Lowest Level Since 2012
- Financial market volatility dents business leaders’ confidence
- But majority of CEOs plan to increase investments in the APEC region
- CEOs see new wave of IT spending to modernise business operations and manufacturing
- Concerns about cyber security top CEOs’ list of worries
MANILA, the Philippines, Nov. 15, 2015 (GLOBE NEWSWIRE) -- Asia Pacific CEOs believe prospects for business growth over the next 12 months are dimming fast. Ahead of the annual Asia-Pacific Economic Cooperation (APEC) Leaders Meeting November 18-19, business leaders have a number of concerns, according to PwC’s fifth annual APEC CEO Survey.
Volatility in the financial markets this summer took a toll on CEO confidence with just 28% of business leaders are now ‘very confident’ their organisation will see revenue growth over the next 12 months. That’s down from 46% a year ago, and it is the lowest level since PwC started tracking 12-month confidence for Asia Pacific CEOs in 2012.
Yet concerns are not just economic. Cyber security, exposure to natural disaster risks and regional geopolitical tensions are among the leading threats to business investment and growth. But confidence does differ across the region, with 51% of business leaders very confident of business growth in The Philippines during the next year: this compares with 34% in the US and 20% in China.
We also found some marked contrast in confidence levels by size of company with mid-sized companies less than half as confident – with only 15% very confident of revenue growth in the next 12 months – than both large and small companies. It is testament to the squeeze that mid-sized companies feel when they have expanded beyond their traditional markets but are not large enough to easily weather some shocks to the system.
For PwC’s 2015 APEC CEO Survey, “CEO confidence in Asia Pacific shaken but strong,” 800 business leaders were surveyed about the prospects for business, growth and free trade in the region. The study was released today at the start of the APEC CEO Summit in Manila, The Philippines.
Despite their dwindling confidence in revenue growth, the majority of CEOs (53%) still plan to increase investments over the next 12 months, with most of that investment (68%) planned for the APEC region. There’s also a clear diversification of investments within the APEC region. While China, the US, and Indonesia remain the main draws for CEO business investments, The Philippines, Vietnam and Singapore economies are attractive for CEOs, and where around half of CEOs say they plan to raise investments during the next year.
“After a year of historically high foreign direct investment into developing Asian economies, APEC CEOs have become very sensitive to financial market signals and the likely impact on revenue growth,” says Dennis M. Nally, Chairman of PricewaterhouseCoopers International Ltd. “Nonetheless, they are still expanding into new APEC locations. This gives testament to the experience they have gained in managing short-term instability and balancing this against the opportunities to generate business in the region.”
More of the 800 APEC business leaders surveyed – PwC’s largest sample ever – point at expanded broadband access and increased participation in the digital economy as holding the most promise for their business from regional connectivity, ahead of regional trade projects or new infrastructure in underdeveloped areas of the region. They believe modernisation through technology will be widespread in the Asia Pacific region by 2020. For instance, 66% think it’s likely advances - such as robotics, Internet of Things or 3D printing - will transform manufacturing by 2020, and 63% expect a new wave of business spending to modernise operations.
“We’re also seeing that the stage has been set for wider sources of innovation,” says Mr. Nally. “The ‘sharing economy,’ as a proxy for new ways consumers and businesses can trade any number of assets over virtual platforms, is only just beginning.”
APEC CEOs are optimistic on free trade. As regional integration proceeds on several fronts, they believe a free trade area in Asia Pacific could be a reality by 2020. For more CEOs, the ASEAN Economic Community is the ‘mega regional’ game changer, while there are also hopes that Trans-Pacific Partnership (TPP) will boost exports and fuel regional growth.
Says Mr. Nally: “Free trade doesn’t automatically mean inclusive growth. A sizeable proportion of CEOs think free trade could significantly harm small- and medium-sized enterprises. And for people on the margins of the economy to participate in and benefit from growth and free trade in the APEC region, access to high-quality education at all levels and improved transport systems are key, according to the CEOs.”
- A third of CEOs are now less confident in profit margin improvement from domestic operations. They’re more optimistic where they can assert more control, such as launching new products and services.
CEOs see that services are becoming more important to Asia Pacific as global trade in goods falters. This will accelerate demand for management and IT consulting, logistics expertise as well as risk management services.
Notes to editors:
1. About APEC
The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC's 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
The APEC CEO Summit is the Asia-Pacific's premier business event, drawing thousands of economic and business leaders from around the region and beyond.This year's Summit will be held from November 16-18 in Manila, Philippines. To view the notional program, click here.
2. Survey Methodology
Carried out by PwC International Survey Unit, the APEC CEO Survey 2015 was conducted between June 23rd and August 21st 2015 covering 800 CEOs and industry leaders across 52 nations with operations in all 21 APEC economies. The full survey report can be found here www.pwc.com/apec.
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
©2015 PricewaterhouseCoopers. All rights reserved.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
Tel: + 44 (0) 7803 974 136
More details: www.pwc.com/apec
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Minerva Neurosciences Elects William Doyle and Hans Peter Hasler to Board of Directors11.12.2017 14:15 | Pressemelding
WALTHAM, Mass., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today announced the election of William F. Doyle and Hans Peter Hasler to the Board of Directors of the Company. "Bill Doyle and Hans Peter Hasler bring distinguished leadership backgrounds and complementary sets of expertise to Minerva's Board of Directors," said Dr. Fouzia Laghrissi-Thode, Board member and chairperson of the search committee at Minerva. "Their bio-pharma industry-specific experience, which encompasses strategic development, partnering, licensing, product launches, marketing and commercialization, will benefit Minerva as the foundation is laid for the commercialization of the Company's products currently in advanced clinical development. We look forward to Bill's and Hans's entrepreneurial and operational perspectives on how Minerva can b
Sabina Gold & Silver Announces Commencement of the Review of its Water License Applications for the Back River Project11.12.2017 13:30 | Pressemelding
VANCOUVER, British Columbia, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (TSX:SBB.T), ("Sabina" or the "Company") is pleased to announce that the Nunavut Water Board (NWB) has commenced public review of the Type A and Type B water license applications related to initial development, mine construction and operation of the Back River Project (the "Project" or "Back River"). As announced on December 6, 2017, the Minister of Indigenous and Northern Affairs Canada, on behalf of the five responsible federal Ministers, accepted Nunavut Impact Review Board's recommendation for the Project to proceed to the regulatory and licensing phase. The NIRB has advised that the final Project Certificate will be issued on or before January 4, 2018. The Type B water license would enable Sabina to commence certain initial pre-development activities in 2018 including onsite construction of service roads and laydown pads, and the mobilization of fuel, supplies and equipment at t
Standard Lithium Provides Development Update on California Lithium Project11.12.2017 11:00 | Pressemelding
VANCOUVER, British Columbia, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSX-V:SLL) (FRA:S5L) (OTCQX:STLHF) is pleased to provide an update on the development work taking place at the Company's California Lithium Project; comprising the Bristol Dry Lake and the Cadiz Dry Lake lithium brine properties located in the Mojave Desert, California. A total of six new separate evaporation ponds have been installed on the Bristol Dry Lake Property to further assess the role that short-duration passive solar evaporation may play in processing the lithium brines encountered at the project. Previous work demonstrated that, owing to extremely high evaporation rates in the project area, it is possible to concentrate brines from initial lithium concentrations of 146 mg/L to concentrations of 686 mg/L in approximately 7 weeks (note, this average lithium concentration was previously reported as 556 mg/L in news release dated 10th Oct 2017,
Algeco Scotsman Announces Debt Package for Refinancing, Acquisition of Touax Solutions Modulaires SAS and Exercise of Put Option10.12.2017 23:14 | Pressemelding
BALTIMORE, Md., Dec. 10, 2017 (GLOBE NEWSWIRE) -- Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, the "Algeco Group") today announced that a finance special purpose vehicle that will be a subsidiary of the Algeco Group has entered into a senior debt package arranged by a syndicate of lending institutions and a preferred stock facility with a group of other financing providers. The proceeds of this financing, or any debt issued in lieu of the loans under the facilities (which replacement debt could be in the form of loans, securities or other debt instruments, may be publicly or privately placed and may be denominated in euros or US dollars), will be used to refinance the existing capital structure of the Algeco Group, including its existing Senior Secured Notes due 2018 and existing Senior Unsecured Notes due 2019. In connection with this refinancing, a lending syndicate will provide a new $400 million senior secured asset backed facility. The debt package is continge
Elemica Wins Green Supply Chain Award8.12.2017 19:54 | Pressemelding
WAYNE, Pa., Dec. 08, 2017 (GLOBE NEWSWIRE) -- Elemica, the leading Business Network for the process industries, announces winning the Supply & Demand Chain Executive Green Supply Chain Award for 2017. This is Elemica's 9th consecutive win of this prestigious award that recognizes small, mid-size and large enterprises that leveraged green practices and solutions to further drive sustainable improvements in their supply chain. Elemica was chosen for helping clients improve and achieve measurable sustainability goals through the automation of manual processes, eliminating the use of paper and optimizing transportation processes through carrier collaboration and automated processes that reduce mileage. "This is a great honor for Elemica - recognition for nine consecutive years for helping clients meet their green and sustainability goals," said John Blyzinskyj, CEO of Elemica. "By utilizing Elemica's integrated cloud-based logistics and transportation products, customers have lowere
Constellation Brands to Report Third Quarter Fiscal 2018 Financial Results; Host Conference Call January 5, 20187.12.2017 22:37 | Pressemelding
VICTOR, N.Y., Dec. 07, 2017 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, announced today it will report financial results for its fiscal third quarter ended November 30, 2017, on Friday, January 5, 2018, before the open of the U.S. markets. A conference call to discuss the financial results and outlook will be hosted by President and Chief Executive Officer Rob Sands and Executive Vice President and Chief Financial Officer David Klein at 10:30 a.m. eastern time, January 5, 2018. The conference call can be accessed by dialing +973-935-8505 beginning at 10:20 a.m. (eastern). A live, listen-only webcast of the conference call will be available on the company's website, www.cbrands.com, under the Investors section. Financial information discussed on the conference call, and a reconciliation of reported (GAAP) financial measures with comparable or non-GAAP financial measures, will also be available on the company's websi
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom