KUALA LUMPUR, Dec 2 (NNN-BERNAMA) – Malaysian business optimism has improved over the past six months, reflecting a more confident outlook on the long-term impact of tariffs and trade uncertainty, an HSBC survey showed, yesterday.
Malaysian businesses are among the most confident globally. Of the 250 Malaysian-based companies that were surveyed, 92 percent feel confident about their ability to grow international trade, over the next two years, surpassing the global average of 87 percent.
Additionally, 90 percent feel either well prepared or are actively preparing for changing trade regulations and tariffs.
Furthermore, businesses in Malaysia are increasingly adapting their trade strategies by embracing regional trade corridors.
Notably, 64 percent of Malaysian firms are more likely to strengthen their reliance on Southeast Asia, significantly higher than the global average of 34 percent.
Additionally, 47 percent plan to increase their reliance on East and North Asia, while 42 percent aim to enhance their connections with South Asia.
This trend underscores a growing focus on intra-Asian trade, as firms prioritise regional partnerships and opportunities alongside other global trade corridors.
“Malaysian businesses are showing higher-than-average optimism, preparedness, and certainty, regarding trade growth and policy, after successfully navigating a time of high inflation and elevated interest rates,” said Shreyas Krishna, Head of Global Trade Solutions, HSBC Malaysia.
According to him, this trend shows that, businesses are continuously adjusting to an evolving trade and tariff landscape. “Companies now have a major opportunity to reinvent themselves and amplify their growth potential, thanks to the immense possibilities offered by international trade,” he added.– NNN-BERNAMA