While a majority of senior treasury and finance professionals in Asia think that the prospects for their business are better this year compared to last (54%), there is less confidence in this group than is found in their US counterparts (60%) who were polled at a similar EuroFinance event in Miami recently.
This was the key finding of the "Treasury Verdict" session taken by a live audience poll of senior treasury and finance professionals at EuroFinance's 19th annual conference on International Cash, Treasury and Risk for Financial Professionals in Asia, held in Singapore.
Compounding this comparative lack of confidence among Asian treasurers was the fact that over one in four of all delegates polled (28%) feel less confident on this issue this year compared to last year. Some 18% felt no change in confidence, year-on-year.
"Treasurers are not seeing as many positive macroeconomic headwinds in Asia as they are in places such as the US and Latin America," says Katharine Morton, EuroFinance's Managing Editor. "While opportunities exist in both regions, confidence both on a business and wider economic level is more muted in Asia. China's slowdown in growth may be a contributing factor here, but it is important to note that this slower growth is seen as more sustainable in the long term."