Business leaders here among most confident globally to face challenges: Poll

48% of S'pore respondents 'very prepared' to tackle geopolitical, cyber-security issues

- Chor Khieng Yuit

Business leaders in Singapore are among the most confident globally about their level of business preparedness when it comes to dealing with challenges ranging from geopolitical tensions to cyber-security threats and developments in the artificial intelligence (AI) space.

In its first edition of the Business Sentiment Report, global risk and financial advisory firm Kroll found that 48 per cent of respondents in Singapore were "very prepared" to face the challenges.

This is higher than the 34 per cent in the Asia-Pacific region and 38 per cent globally.

Kroll surveyed 1,200 C-suite executives from more than 20 markets such as the US, Britain, Hong Kong and Singapore in February.

About one-third of all those surveyed work in the financial services industry, and more than one-fifth are in technology companies.

The report highlighted geopolitical tensions, such as tariffs, as one of the most significant business challenges facing organisations over the coming year.

The survey was conducted before US President Donald Trump slapped "Liberation Day" tariffs on economies on April 2, which he then put on hold as he strikes trade deals with different nations.

Singapore runs a goods trade deficit of US$2.8 billion (S$3.6 billion) with the US, according to data from the Office of the United States Trade Representative. This means that the Republic imports more goods than it exports.