Japan manufacturers in ASEAN upbeat on earnings<\/p>\n
Doutche Press-Agentur
\nSingapore<\/p>\n
More Japanese manufacturers in ASEAN are hopeful of achieving
\nhigher operating profits next year due to a better outlook for
\nexports, a published survey said on Wednesday.<\/p>\n
The Japan External Trade Organization's (Jetro's) survey,
\nwhich also included India, showed 51 percent of the Japanese
\nmanufacturers in the Association of Southeast Asian Nations
\n(ASEAN) and India reporting improved prospects for operating
\nprofits in 2004, up from 49 percent for 2003, according to
\nresults in The Business Times.<\/p>\n
ASEAN comprises Thailand, Malaysia, Indonesia, the
\nPhilippines, Singapore, Brunei, Vietnam, Cambodia, Laos and
\nMyanmar (Burma).<\/p>\n
Forty-six per cent of manufacturers in Singapore reported
\nimproved prospects for operating profits in 2004, up from 37
\npercent for 2003.<\/p>\n
Higher domestic demand, increased sales prices and lower costs
\nwere cited as factors for the improved outlook for profits from
\nthe region.<\/p>\n
More than half of the Japanese manufacturers in ASEAN export
\nat least 70 percent of their output, including apparel and
\ntextiles, electrical and electronic equipment as well as
\nelectronic parts and components.<\/p>\n
A quarter of them said Japan accounts for the bulk of their
\nexports while 16 percent indicated ASEAN as the main market.<\/p>\n
The survey covered 1,130 companies.<\/p>\n
Japanese manufacturers in ASEAN are also purchasing more raw
\nmaterials and parts from local suppliers, encouraged by cost
\nsavings provided by the ASEAN free trade pact.<\/p>\n
Increasingly, many are also sourcing for electronic parts and
\ncomponents in China.<\/p>\n
\"Countries that answered with relatively high rates for future
\nprocurement from China included the Philippines (30.5 percent),
\nIndia (26.9 percent), Singapore (25.4 percent) and Malaysia
\n(22.2) percent, which were all higher than the overall rate (19.9
\npercent),\" Jetro said in its survey report.<\/p>\n
Japanese manufacturers complained of \"troublesome and
\ncomplicated customs formalities and other foreign trade
\nprocedures\" in many of the countries surveyed.<\/p>",
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