ASIA PACIFIC CEOs BULLISH ABOUT SHORT-TERM GROWTH

KUALA LUMPUR, Feb 5 (Bernama) -- Asia Pacific chief executive officers
(CEOs) remain more upbeat than their global counterparts about short-term growth
prospects amid a looming world economic slowdown, according to a survey.

In the PricewaterhouseCoopers (PwC) 12th annual global CEO survey, nearly 31
percent of Asia Pacific CEOs were very confident of growing revenues during the
next 12 months compared to the global average of 21 percent.

However, the confidence levels are significantly lower compared in 2007,
where 56 percent of the Asia Pacific and 50 percent of global CEOs felt
confident about achieving short-term growth, said PwC in a statement Thursday.

"Despite the challenges imposed by the global financial crisis, Asia Pacific
business leaders are still focused on long-term growth," said PwC Global CEO
Samuel A DiPiazza Jr.

Nearly all the Asia Pacific CEOs believed that attracting and retaining key
talent, high quality customer service offerings and brand strength and
reputation are critical to sustaining long-term growth.

PwC said 76 percent of the CEOs believed that creating more flexible work
environments and redeploying key talent will enhance their talent management
strategies.

"Keeping an eye on the long term, with the right talent strategies and a
collaborative mindset will help Asia Pacific CEOs to ensure their business'
sustainability," said PwC Malaysia's managing director Chin Kwai Fatt.

For medium-term growth, 50 percent of the CEOs believe that joint ventures
and strategic alliances will play a greater role in business growth than
cross-border mergers and acquisitions (M&As) over the next three years.

With tighter liquidity and falling business confidence, overall M&A activity
has decreased with only 19 percent of the Asia Pacific CEOs having completed a
cross-border M&A during the past 12 months.

For the survey, 1,124 interviews with CEOs were conducted in 50 countries
during the last quarter of 2008.
-- BERNAMA