Eighty two per cent of CEOs interviewed by a consultancy expects the economy to steadily grow or accelerate.
This was said by MTI CEO Hilmy Cader at a function in Colombo on Tuesday (January 28).
He said that the sample comprised 150 CEOs of whom 65% were from “CSE Top 100,” while the rest were from mid tier companies.
Cader who titled his presentation “MTI CEO Business Outlook Survey 2014” however said that 18% of those captured in the survey expected the economy to decline.
In regard to the performances of their own businesses, 58% expected high growth this year, 38% (moderate growth), while the rest expected business to decline over that of the previous year, 2013.
Pessimism had dropped to 18% from 27% of the previous, however in 2011 it was a low of 11%.
“New Sri Lanka is all about new opportunities,” said Cader.
What CEOs perceived as major challenges were economic governance (27%) and law and order (11%).
What they perceived as “major business challenges” in the new year were government regulations and policies (24%) and slow consumer demand (12%).
“Costs and human resources (HR)” didn’t figure among their major concerns.
These contrast to the concerns of HR managers which mainly revolved round the difficulty in finding talent.
Going forward, the challenges were the cost structures built during the euphoric period of 2010/11, which were the best years for corporate performances, said Cader.
He further said that in the first nine months of 2013, 60% of S&P SL 20 companies experienced a drop in their earnings, while only 35% suffered a drop in their revenues.
But the operation of a low interest rate regime will trigger demand and help SMEs, said Cader. He also said that 60% of the CEOs captured in the survey expected the global economy to recover this year.
The occasion was the feting of “CIMA Corporate Partners 2014.”
www.sundayleader.lk
This was said by MTI CEO Hilmy Cader at a function in Colombo on Tuesday (January 28).
He said that the sample comprised 150 CEOs of whom 65% were from “CSE Top 100,” while the rest were from mid tier companies.
Cader who titled his presentation “MTI CEO Business Outlook Survey 2014” however said that 18% of those captured in the survey expected the economy to decline.
In regard to the performances of their own businesses, 58% expected high growth this year, 38% (moderate growth), while the rest expected business to decline over that of the previous year, 2013.
Pessimism had dropped to 18% from 27% of the previous, however in 2011 it was a low of 11%.
“New Sri Lanka is all about new opportunities,” said Cader.
What CEOs perceived as major challenges were economic governance (27%) and law and order (11%).
What they perceived as “major business challenges” in the new year were government regulations and policies (24%) and slow consumer demand (12%).
“Costs and human resources (HR)” didn’t figure among their major concerns.
These contrast to the concerns of HR managers which mainly revolved round the difficulty in finding talent.
Going forward, the challenges were the cost structures built during the euphoric period of 2010/11, which were the best years for corporate performances, said Cader.
He further said that in the first nine months of 2013, 60% of S&P SL 20 companies experienced a drop in their earnings, while only 35% suffered a drop in their revenues.
But the operation of a low interest rate regime will trigger demand and help SMEs, said Cader. He also said that 60% of the CEOs captured in the survey expected the global economy to recover this year.
The occasion was the feting of “CIMA Corporate Partners 2014.”
www.sundayleader.lk
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