Philippine firms show higher degree of optimism than elsewhere in Asia
Philippine Daily Inquirer/Asia News NetworkMANILA -- Corporate Philippines is riding on a “sky-high” confidence level this year, topping business sentiment elsewhere in Southeast Asia on the back of good local economic prospects, British bank Standard Chartered said.
February 8, 2013, 4:56 pm TWN
In a research note issued after conducting a regional road show, the oldest foreign bank in the Philippines said 74.5 percent of its top local clients expected their businesses to do better in 2013 than last year.
Only 6.1 percent of local respondents thought that their businesses could do worse in 2013, based on a Feb. 5 research published by Stanchart titled “What ASEAN Corporates Think?”
Meanwhile, only 44 percent of top-tier clients in Singapore expected their businesses to do better this year while comparative levels were similarly much lower than that of the Philippines: in Kuala Lumpur (41 percent), Bangkok (44 percent) and Jakarta (46 percent).