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Asia-Pacific CEOs turn less optimistic on global growth prospects: KPMG

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The Sun Malaysia

Only 22% of chief executive officers (CEOs) in Asia Pacific remain confident on the global economy’s growth prospects over the next three years, a significant drop from 67% reported in January, according to the 2020 KPMG Global CEO Outlook report. At the same time, the CEOs surveyed are more assured of the resilience of their own business, as 63% expressed confidence in their company’s growth for the same time period.

The report aims to measure how CEOs’ priorities and concerns have changed during the global pandemic by conducting two surveys, at the onset of the pandemic in January and a second survey in July/August. The study found business leaders have shifted their perspectives as businesses and governments around the world continue assessing the long-term impact of Covid-19, which translates to a shift in prioritizing digital transformation, talent and environmental, social and governance (ESG) factors at the top of their agendas during this period of uncertainty.

Datuk Johan Idris, Managing Partner of KPMG in Malaysia, commented that a majority of CEOs have undertaken critical measures to bolster their company’s medium-term resilience. He pointed out that this is evident by the decision to maintain business-as-usual activities by business leaders worldwide in response to the movement restrictions at the height of the crisis.

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© 2020 KPMG PLT, a limited liability partnership established under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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