KUALA LUMPUR: The second MIA-ACCA Business Outlook 2020 survey reveals that the respondents are very positive on the projected business performance for 2020 and they expect this growth momentum to be sustained over the medium term.
The responses were collected from 743 accounting and finance professionals of varying ages, organisations and roles, including top-level finance professionals and public practice leaders, comprising 43% of the total respondents.
This is very nearly double the number of respondents to the first survey (399 respondents), giving greater credibility and weight to the insights reported, the Malaysian Institute of Accountants (MIA) said in a statement today.
It said the survey was intentionally timed during the last two months of 2019 to cull insights emerging from companies’ annual strategy and budget planning processes, which are typically conducted during this period.
The survey also found that 83% of the respondents are forecasting increased revenue for 2020, of whom 48% expect a growth of 5% or more.
On the profit outlook for 2020, the survey reveals that 86% of the respondents expect it to be positive, with about half of them anticipating a profit growth of 5% or more.
“This bodes well for corporate earnings going forward, fosters an attractive climate for investment and stimulates more employment opportunities in Malaysia, while enabling investment in digital transformation, product and market innovation, and productivity gains,” MIA said. – Feb 4, 2020, Bernama