CEOs in Singapore turn to deals for competitive advantage: report

This includes mergers and acquisitions, divestments, and joint ventures amongst others.

All the CEOs in Singapore are looking at deal-making to gain a competitive advantage amidst fears of an economic downturn, EY reported.

Deal-making, which covers mergers and acquisitions, divestments, and joint ventures, is a priority of 100% of corporates in Singapore in the next 12 months. This is higher than the global average of 93%.

Of this, 70% of Singapore CEOs are targeting M&As or divestments, above the 67% global average.

“In the near term, CEOs are focusing on cash management, cost optimisation, and restructuring which will not only protect against the downturn but also be a key enabler for continued investments in digital transformation and sustainability,” Sriram Changali, EY-Parthenon Asean Value Creation Leader, said.

“Portfolio transformation through deals continues to be high on the agenda among CEOs who are looking to transform their businesses and position for future growth. The focus for acquisitions in 2023 will be on innovation and R&D, including product and service innovation to enhance portfolios, among other focus areas such as accessing new talent or entering new markets that are economically and geopolitically aligned to their home market.”

Moreover, the EY CEO Outlook Pulse report found that 25% of Singapore respondents (global 39%) are planning to increase investment in sustainability as a core aspect of their strategy and offering, including net-zero and other environmental and societal priorities.

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