BANK OF AMERICA
The majority of Asia Pacific-based chief financial officers expect growth in revenues and profits at their corporations in 2013. A full 71 percent are forecasting year-on-year revenue growth in 2013, while 62 percent are anticipating that their 2013 net profits will exceed that of 2012, according to the Bank of America Merrill Lynch 2013 CFO Outlook Asia report, which surveyed 600 CFOs and senior finance executives in the region.
In its second edition, the 2013 CFO Outlook Asia provides broad insight into the perceptions and strategies of key financial decision makers across the region, revealing insights into the outlook for their companies’ prospects, their own roles and their expectations for financing and M&A activity.
Key conclusions of the survey include:
Furthermore, CFOs polled will increasingly focus on improving operational efficiencies at their corporations and commit resources to enhancing working capital management to drive profits. On the flipside, respondents identified higher commodity prices as the greatest risk to earnings in 2013.
“Despite economic uncertainty and global market headwinds, there remains a sense of unbridled optimism towards business prospects in Asia Pacific, according to the region’s leading CFOs,” said Steven Victorin, head of Asia Pacific Corporate Banking and Global Corporate Banking Subsidiaries at Bank of America Merrill Lynch. “This year’s report again sheds relevant light on the perceptions and strategies of the evolving CFO function across the region. The results clearly reinforce this view.”
The conclusions above are based on over 600 interviews were conducted with financial executives in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. Over 50 percent of respondents came from corporations with annualized revenues of $500 million or above, representing a broad range of multinational, regional and local companies.
To download the Bank of America Merrill Lynch 2013 CFO Outlook Asia report, please visit http://baml.com/cfoasia2013.
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