The optimism level of Malaysian business confidence has risen to 6 per cent which is a major improvement compared to a year ago at -36 per cent, according to the International Business Report (IBR) by Grant Thornton, reported by The Star.
The quarterly business survey which covered 2,500 businesses in 36 economies showed the ASEAN region’s optimism level was performing at its best at 58 per cent, the highest since 2011. The survey revealed that high levels of confidence are driven particularly by surges in Indonesia for 100 per cent, as well as the Philippines at 86 per cent, where optimism has risen by 12 percentage points (12pp) and 6pp. The report stated that the global business optimism is at a positive level too, being at its highest level ever at 58 per cent.
Grant Thornton Malaysia Country Managing Partner Datuk NK Jasani said in the statement that optimism level in Malaysia has boomed, which is at the highest since 2014, despite being the lowest level among ASEAN countries. “In the country, the signs of confidence can be seen as the survey revealed that 62 per centbusiness owners are expecting an increase in revenues up to 22pp from the third-quarter (Q3) in 2017. “Also, 44 per cent of business owners are expecting an increase in exports for the year ahead which is up to 10pp from the same period, which is the highest in ASEAN,” said Jasani. The Managing Partner also said that 58 per cent of business partners are expecting an increase in profits, up to 46pp from Q3 in 2017 and 30 per cent of business owners are looking to increase in selling prices, up to 14 pp from the same period.