KUALA LUMPUR: Businesses’ cautiousness about their capital expenditure (capex) spending plans have turned positive in the first half of 2019 (1H19) with 58.8% of respondents having increased their capex, according to a survey by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).
According to ACCCIM, the increase in capex may be partly aided by the Goods and Services Tax (GST) and income tax refunds, which totalled RM17.1 billion as at end-April 2019.
In its Malaysia’s Business and Economic Conditions Survey for 1H19 and forecast for 2H19 released this morning, ACCCIM said the percentage of businesses planning to increase capex is expected to remain at a relatively high 55.5% for 2H19, suggesting that businesses may be starting to have a clearer approach about their business strategy and intend to invest for the long term.
The survey revealed that most businesses experienced softening business performance in 1H19 but the overall business expectations for 2H19 and 2020 have strengthened significantly.
source https://www.thesundaily.my/business/acccim-malaysian-businesses-positive-with-higher-capex-spent-in-1h19-BD1216993
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