Asia expects foreign capital

Asia expects foreign capital

SINGAPORE (DPA): Eighty percent of Asian chief executive officers believe the region's economic upswing will be sustained only with foreign capital inflows, a survey showed on Monday.

The significant role of foreign infusions does not constitute a loss of control for East Asian nations, according to the findings unveiled at the World Economic Forum's summit in Singapore.

Some 77 percent of the CEOs perceive no sacrifice of independence to foreign investors, according to the annual survey by PricewaterhouseCoopers.

"Eighty-five percent of Asian CEOs are extremely or somewhat optimistic about economic recovery," the study said.

"Our CEO survey population does not equate capital with control," said the firm's CEO James Schiro.

Of particular interest was "how this group confronts the growing pressure for global standards of financial reporting, especially as the capital markets, rather than short term bank loans, become the preferred solution for large Asian corporations," Schiro said.