The Malaysian Business Sentiment Survey 2019/2020
The Malaysian Business Sentiment Survey is a joint initiative between Monash University Malaysia and CPA Australia. The Survey is carried out annually and gathers the thoughts of business leaders on the current and future prospects of their respective industries. A press conference was held on 16 December 2019 and according to the results of the survey, about 74% of business leaders are cautiously proactive of their company’s prospects for the next 12 months despite external concerns such as the US-China trade war and Brexit.
The results also showcased that traditional businesses are wary and concerned regarding the continuing emergence of disruptive technologies that threaten their position in the market. However, the overall sentiments affirm that businesses perceived that they need to take proactive measures to adopt new technology (e.g. Industry 4.0) and grow new business models to mitigate these risks and uncertainties.
The main concerns that are plaguing the local market are the weakening of the ringgit and the cost of doing business. The latter has proven to be a perennial issue and has been a consistent concern/issue for the past three years.
Other key findings from the survey:
- 27% of respondents are prioritising new growth strategies for the coming year.
- 35% of businesses are focusing on current products but keeping an eye out for new opportunities.
- There was an increase in the implementation of I4.0 as compared to last year.
- 78% of business leaders are of the view that diversity and providing equal opportunities as top priorities in their organisations.
- 51% of the respondents estimate that they will have a higher revenue over the coming 12 months which has slightly decreased from 2018 which was at 56%.
Click to download the report.