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Kuala Lumpur, 24 May 2010 - The future looks bright for emerging economies according to the Grant Thornton International Business Report 2010. A balance of +57% of Medium to Large Enterprises (MLEs) in 14 of the world's leading emerging markets indicated that they were optimistic about the prospects for their country's economy in the year ahead. At the same time, a balance of just +2 per cent of businesses in mature economies indicated that they were optimistic. These figures compare with a global average of +24 per cent.
Kuala Lumpur, 15 April 2010 - Earlier today, one of Malaysia’s most promising young Ministers, YB Dato' Mukhriz Tun Mahathir, Deputy Minister of International Trade & Industry joined the British Malaysian Chamber of Commerce (BMCC) Premier Business Luncheon sponsored by Grant Thornton at the Sheraton Imperial Hotel Kuala Lumpur to share some key insights for companies doing business in Malaysia.
Medium to Large Enterprises (MLEs) across the world decreased their employee numbers during 2009, the first time since Grant Thornton began researching employment issues in its International Business Report (IBR) in 2003 that the number of businesses cutting headcount has exceeded those increasing it. The survey, of over 7,400 MLEs across 36 economies, shows a global balance* of -8% compared to +21% in 2009 - a drop of 29 percentage points.
Optimism amongst Medium to Large Enterprises (MLEs) around the world has bounced back to give the Grant Thornton global optimism/pessimism index for 2010 an optimism balance* of +24%, compared to its lowest ever score of -16% this time last year. The International Business Report (IBR) survey of over 7,400 MLEs across 36 economies, now in its 18th year, also highlights a group of ten economies where businesses are more optimistic about the outlook for their economies than International Monetary Fund (IMF) forecasts might suggest.
It may be a subdued budget at first glance, but it plants the seeds of change in its policy making. After the announcement of the recent heavy stimulus package, the annual Budget 2010 is no doubt a challenging one to the policymakers as structural changes are needed to cater for the largest budget deficit since 1987.
New research from Grant Thornton International reveals that Malaysia ranked fifth globally for senior positions held by women with 31% compared to the global average of 24%. The percentage of women in senior management of business has increased as much as +8% from 23% in the year of 2007. A total of 39% of businesses in Malaysia have three or more women holding senior positions.
Employees at nearly a quarter of Medium and Large Enterprises (MLEs) around the world could be worse off in the year ahead. Research from the Grant Thornton International Business Report reveals that 21% of businesses plan to offer no pay rise in 2009 while 3% of businesses actually expect to reduce pay.
The economy is growing at a slower pace now. As the Government has promised to fulfill its mission, providing short-medium proposals to heal the country’s fiscal condition, a number of tax incentives have been introduced in the current stimulus package in order to face the economy crisis currently in progress.
Malaysian business growth is suffering from reduced demand, with 58% of businesses reporting it as a major constraint. In fact, 49% of Medium and Large Enterprises (MLEs) globally rank it as a constraint on expansion a rise from 31% in 2008. 25 of the 36 economies surveyed in the Grant Thornton International Business Report (IBR) placed reduced demand at the top of the league of business constraints.
Optimism amongst Medium to Large Enterprise (MLEs) around the world has slumped by 56% in the last 12 months and pushed the Grant Thornton International optimism/pessimism barometer to a record negative balance of -16% compared to +40% this time last year.
The recent budget announcement had good news for the individuals. A noteworthy announcement was the reduction in the tax rates in the top bracket and the middle bracket.
The Malaysia results from the 2008 Grant Thornton International Business Report (IBR) was released today at an event that also saw the announcement of a new branding exercise for the international accounting and consulting firm.
Corporate Social Responsibility (CSR) is becoming increasingly important to us all, both as individuals and in our professional lives. Lately many firms have come forward to express their CSR agenda. Despite much public focus on large companies, many failed to recognise the various contributions by corporate individuals who continue to successfully promote CSR single-handedly on many levels.
Malaysia is amongst the top ten emerging economies, with neighbouring countries Indonesia and Thailand also making the list, according to the International Business Report (IBR), produced by Grant Thornton International. The emerging markets index produced using a weighted calculation of key indicators*, shows China and India are still occupying the top two places this year.
According to the International Business Report, produced by Grant Thornton International, despite the turbulence in the world financial markets, 44 per cent of medium-to-large-enterprises (MLEs) globally are planning to grow through acquisition in the next three years and 23 per cent of those businesses anticipate a cross border deal.
Globally, 63 per cent of Medium to Large Enterprises (MLEs) are paying significantly more in staff costs than a year ago according to the International Business Report, produced by Grant Thornton International. China (91 per cent), India (85 per cent) and Turkey (83 per cent) have the highest percentages of businesses reporting higher staff costs.
Malaysian business growth is suffering from a shortage of skilled workers, with 42 per cent of businesses reporting it as a major constraint. This is above the global average of 37 per cent but lower than the regional average of 47 per cent.
Medium to Large Enterprises (MLEs) are adopting corporate social responsibility (CSR) policies not just to save the planet but because they are having to in order to survive and prosper.
Despite the subprime credit crunch panic in the US, Asian business owners continue to be the most optimistic in the world, with Philippines, India, Vietnam and Singapore taking the top four positions in a survey, Grant Thornton’s International Business Report (IBR 2008) revealed.
While many business owners are under the impression that their company will not become subject to accounting scams, taking early measures to avoid corporate accounting scandals is deemed necessary to sustaining business growth and becoming a world class entrepreneur, according to SJ Grant Thornton Managing Partner Dato’ N. K. Jasani.
The Malaysia results from the 2007 Grant Thornton International Business Report (IBR) is released today at a launch event officiated by the Deputy Finance Minister I Dato’ Dr. Ng Yen Yen.
Growing interest in Asian countries has prompted Grant Thornton Malaysia to launch a unique service that will facilitate its clients to focus on three key investment and business destinations - Indonesia, China and India.
Companies in the emerging markets have done most to manage energy cost pressures, according to the latest findings from the Grant Thornton International Business Report (IBR).
Malaysia is ranked at a low 26 in the world for countries with super growth companies, a decline from last year’s eight position, according to a world league table released by the 2007 Grant Thornton International Business Report (IBR).
Malaysia is ranked in the top 3 for businesses with women in senior management positions, according to a worldwide survey released in conjunction with the United Nation’s International Women’s Day.
Joint efforts between the Government and the Private Sector organisations are vital if Pemudah is to achieve its objective, as it is imperative in ensuring the successful implementation of the 9th Malaysia Plan.
Businesses capitalising on opportunities in the world’s fastest growing economies.
Global Business Confidence Up For 2007.
This global research examines the attitudes, plans and trends of 7,200 businesses in 32 countries across six continents that include all G8 and the majority of the World Bank’s top 20 economies which account for 81% of global GDP.
As the world comes to rely ever more heavily on the rapid exchange of information over the internet, e-commerce is becoming a key feature of the global economy.
The first results for Malaysia from the 2006 Grant Thornton International Business Owners Survey (IBOS 2006) is released today at a launch event officiated by the Second Finance Minister, YB Tan Sri Datuk Seri Nor Mohamed Yakcop.
Owners of medium to large enterprises (MLEs) in Malaysia see net benefit from the fast growing economy in China, according to the results released today from the 2006 Grant Thornton International Business Owners Survey (IBOS).
Malaysia is ranked among the top 10 countries with super growth companies, according to a world league table released today from the 2006 Grant Thornton International Business Owners Survey (IBOS).
Owners of medium to large enterprises (MLEs) in Malaysia are found to be the 7th most stressed in the world, according to a global business stress index released today from the 2006 Grant Thornton International Business Owners Survey (IBOS).
Owners of medium to large enterprises (MLEs) in Malaysia are optimistic about the local economy for the next 12 months, according to the first results from the 2006 Grant Thornton International Business Owners Survey (IBOS) released today.
Accounting and consulting firm Shamsir Jasani Grant Thornton, the local member of Grant Thornton International will be collaborating with premier boutique investment advisory group, ECM Libra Berhad to launch Grant Thornton International's International Business Owners Survey 2006 (IBOS).
The subject of Corporate Social Responsibility (CSR) is gaining prominence and has a profound effect on the conduct of business, not only in Malaysia but also across the world. It covers a wide spectrum of issues including business ethics, corporate governance, socially responsible investing, environmental sustainability and community investment.
The 2005 Budget will be the first ever presented by the new Prime Minister, Dato' Seri Abdullah Badawi, and by all reckoning, it is expected to be a growth-orientated budget.
During 2003, global new markets have enjoyed a protracted and steady recovery which has seen market liquidity improve and volatility drop substantially.
The 2004 Budget is a timely move designed to halt a faltering economy after the earlier Stimulation Package announced in May 2003.
Malaysia was once among the front-runners together with Hong Kong and Singapore in receiving FDIs.
Leading accounting and business advisory firm Shamsir Jasani Grant Thornton says that owner-managed businesses form the backbone of Malaysia's economy, and the larger ones are the answer to Malaysia's shortfall in Foreign Direct Investments (FDI).
The budget presented by the Finance Minister on 20th September, is laudable for its long-term impact on the economy and national development.
It is expected that the Budget 2003 will be tabled in Parliament on 20 September 2002, rather early this year.
Financing has remained a problematic area for owner-managed businesses in Malaysia. This was reflected in a recent survey jointly conducted by the Malaysian Institute of Management and Shamsir Jasani Grant Thornton.
Small and medium-size industries (SMIs) are recognized as an important component of any nation's economy. It is more so in Malaysia, a developing nation.
Shamsir Jasani Grant Thornton and research partner, the Malaysian Institute of Management, today officially release the survey findings from their nationwide survey which was launched on 24 September last year.
Pete and his brothers have taken over the company from their father. The chain of drugstores has grown in strength. Together with his three brothers, he decided that it was time to retire.
The 2002 budget presented in Parliament yesterday by the Honorable Finance Minster was a timely and appropriate budget, focusing on the core issues for a recovering economy facing worldwide recessional trends and the specter of gloom and uncertainty following the September 11 terrorist attack in the United States, according to Consultants from Shamsir Jasani Grant Thornton.
Undoubtedly, the challenges in the 21st century are imposing sophisticated information technologies, advanced research and development capabilities, and high intellectual or rather “brain power” related industries.
Shamsir Jasani Grant Thornton, the Malaysian member of Grant Thornton International has today announced its collaboration with the national management organisation, the Malaysian Institute of Management (MIM) to conduct a nationwide research project in Malaysia.
International accounting and business advisory firm, Grant Thornton says that the one commodity in short supply for business enterprises in Malaysia is capital for liquidity, investment and operations.