7 in 10 CEOs plan to increase capital investment in 2023
More than half of them want to pursue an acquisition next year.
Despite looming geopolitical and economic headwinds, 76% of CEOs in Singapore are still keen to increase capital investment next year.
Data from EY showed that 67% of CEOs plan to pursue an acquisition in 2023, whilst 23% are looking to acquire, divest and enter new joint ventures or strategic alliances.
Some (33%) plan to acquire a business in an adjacent sector to open new growth avenues.
More than a quarter (33%) of CEOs said the need to invest in an early-stage business to enhance their existing portfolio and access new talent will drive their next transaction.
“With the rising interest and inflation rates, companies are seeing that debt and capital will become more expensive. On the same note, valuations will be more favourable, which is good news for companies that are looking to acquire,” EY ASEAN Valuation, Modelling and Economics Leader, Andre Toh, said.