KUALA LUMPUR: A majority of the Federation of Malaysian Manufacturers' members who took part in the FMM-MIER Business Conditions Survey will increase and initiate efforts to export to ASEAN countries as well as globally.
The bi-annual survey, carried out every six months, and concluded on Jan 22, saw 64 per cent of the 275 respondents who took part in the survey say that export expansion is high on their agenda.
The survey also showed that 46 per cent of the participants are pursuing new businesses outside their current core businesses.
Forty five per cent also said that they are seriously exploring new strategic alliances, joint ventures as well as mergers and acquisitions.
At a media briefing to present the findings, FMM president Datuk Seri Saw Choo Boon also said that the members were concerned about the possibility of a global economic slowdown and increased competition from China, South Korea, Thailand, Vietnam, and other Southeast Asian countries.
Domestically, the survey respondents said that the ringgit depreciation weighed heavily on their businesses going forward.