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Singapore CEOs bullish in growth prospects

Anuradha Shukla | June 29, 2016
More confident compared with their ASEAN and global counterparts.

Singapore CEOs are bullish in growth prospects, transformation and technology, according to the KPMG 2016 Global CEO Outlook study.

These CEOs are significantly more upbeat about their country's economic growth over the next 12 months.

Eight-eight percent expressed confidence compared with their ASEAN (57 percent) and global (73 percent) counterparts.

Sixty-three percent of CEOs in Singapore described the drive towards successful innovation as being very important to them, compared with 40 percent for ASEAN CEOs and 40 percent for global CEOs.

"It is especially noteworthy that Singapore CEOs are ahead of the pack in recognising the business opportunities being thrown up by the technological developments happening around us," said Tham Sai Choy, chairman of KPMG's Asia Pacific region. "The ability to drive transformational change belongs to these CEOs, who are seizing opportunities to reinvent entire industries, create new markets and solve long-standing problems, all part of inspiring confidence in the future."

Moderate economic growth
A majority of CEOs in ASEAN said they can navigate through a more challenging environment in the next few years even as economic growth is expected to moderate.

Eighty-three percent of top executives believe the next three years will be more critical to their industry than the previous fifty. However, they are confident in their company's growth prospects.

A small proportion of ASEAN CEOs (38 percent) were concerned about a number of critical emerging issues such as cyber security risks and the need to master advanced data analytics.

Eighty-five percent of ASEAN CEOs are confident in their own company's growth, and 70 percent confident in their home country's growth.

"ASEAN is enjoying a golden period with its robust growth rates and significant consumer base capturing the world's attention," added Choy. "For leaders in ASEAN, it is critical to build support for reforms that will last well beyond their own time in office."

 

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