Asian treasury professionals “optimistic” about prospects

Nearly six out of 10 Asian treasurers (58%) feel positive about their business prospects over the next 12 months, a poll has found.

At EuroFinance’s 20th anniversary conference on Cash, Treasury & Risk for Finance Professionals in Asia, held in Singapore, respondents were asked to comment on the prospects of their company, sector and the wider region. Included in the live audience poll were senior treasury and finance professionals, both of domestic companies and foreign-owned multinationals.

58% of respondents also felt confident about global economic prospects over the next year. Less than a quarter (23%) had misgivings about Asia’s prospects over the next two decades, as compared to the past twenty years.

Responses indicated that Asian treasurers are less confident about their business prospects than counterparts in the Middle East (78%), India (66%) and the US (61%), but more so than finance professionals in Brazil (55%), Europe (38%) and Turkey (21%). Whilst 60% of Chinese treasurers previously surveyed said that they felt positive about the next 12 months, only 23% of respondents polled in Singapore expressed optimism about China’s economic prospects as a whole. Commentators pointed to Chinese credit expansions and uncertainty following economic reforms and reconstructions.

Katharine Morton, Editorial Director at EuroFinance, said: “The positivity in Asia is still clearly palpable, despite certain structural issues. There is a high potential for growth, both for businesses and in terms of GDP per capita.