CFOs across Asia Pacific have spoken and shared their views on the operating environment for their businesses in 2015
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In the first quarter of 2015 The Economist Intelligence Unit surveyed 630 financial executives from companies across a range of industries in 12 countries and territories in Asia (Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand). Respondents included chief financial officers (57% of the total), financial directors, senior vice-presidents of finance and treasurers (21%) and those with other senior finance function titles (22%). Half the respondents were from multinational corporations and half from companies with operations in only one country. All multinational companies that participated have global annual revenues of at least US$500m; all local companies have revenues of at least US$100m. The EIU also conducted in-depth interviews with a number of CFOs across Asia.
Confidence towards regional growth prospects remains high, but CFOs in Asia Pacific are more conscious of the external risks than in previous cycles. Given this backdrop, CFOs will focus on implementing internal best practices to offset external volatility by enhancing working capital and improving operational efficiencies.
Organic growth is strategically crucial, while after a boom in 2014 the outlook for M&A also remains positive. Strong equity markets and cheap debt provide an array of funding choices, but with risks on the horizon CFOs are also taking the chance to build war chests to finance their ambitious growth plans.
