American firms in Asean fret over US-China trade tensions, TPP exit

Singapore

WHILE US firms in Asean are optimistic about the growth outlook for and investment opportunities in the region, there is a slight softening of business sentiment for the next five years, according to a survey by the US Chamber of Commerce and the American Chamber of Commerce (AmCham) in Singapore.

These firms expect higher profits, plan to expand within their response location and into other Asean countries, and plan to add headcount in their respective countries in Asean, enticed by the region's economic growth, rise in the middle class and regional integration.

The 2018 Asean Business Outlook Survey released on Tuesday said 56 per cent of respondents expect their profits to rise in 2017 over 2016; 74 per cent expect higher profits in 2018. Most promising sect…