Nearly 50 percent of businesses in Asia Pacific say they will be forced to restructure due to the coronavirus epidemic to stay afloat if the situation worsens, a report by business solutions provider Tricor on business sentiment shows. The report surveyed business leaders and finance executives at 1,050 organizations in APAC, sampling a cross-section of start-ups, small and medium enterprises, multinationals and listed companies in the private sector across 12 major industries. Nearly half of the executives cite cost reduction as a key strategic focus to help navigate business uncertainty resulting from the acute reliance on the mainland. About 46 percent of executives are looking for ways to streamline business functions through cost reductions and operational efficiency.

Source: The Standard February 27, 2020 09:56 UTC