Table of Contents

1. Are you more or less optimistic about your regional economy compared to last quarter?	1
1b. Rate your optimism about your regional economy on a scale from 0-100, with 0 being the least optimistic and 100 being 
the most optimistic.	2
2. Are you more or less optimistic about the financial prospects for your own company compared to last quarter?	3
2b. Rate your optimism about the financial prospects for your own company on a scale from 0-100, with 0 being the least
optimistic and 100 being the most optimistic.	4
3. What are the top three external concerns facing your corporation? (rank #1, #2, #3)	5
3. What are the top three external concerns facing your corporation? REVERSE SCALE & WEIGHTED BY NUMBER OF
RESPONDENTS (Higher number = greater weighted importance)	6
3. What are the top three external concerns facing your corporation? - Other specified	7
4. What are the top three internal, company-specific concerns your corporation faces? (rank #1, #2, #3)	8
4. What are the top three internal, company-specific concerns your corporation faces? REVERSE SCALE & WEIGHTED 
BY NUMBER OF RESPONDENTS (Higher number = greater weighted importance)	9
4. What are the top three internal, company-specific concerns your corporation faces? - Other specified	10
5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?	11
5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months 
for:   [Unweighted - Sorted]	12
5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?  
[All Companies - Windsorized - Revenue Weighted - Sorted]	13
5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?  
[All Companies - Windsorized - Employee Weighted - Sorted]	14
5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?
[Public Companies - Windsorized – Revenue Weighted]	15
6a. In the next 12 months, does your company plan to:	16
6b. In the next 12 months, does your company plan to:	17
7a. Has your company been affected by the cost or availability of credit?	18
7b. If yes, in what ways has your company been affected by the credit market turmoil? (check all that apply)	19
7b. If yes, in what ways has your company been affected by the credit market turmoil? - Other specified	20
7c. Increased cost of credit - How many basis points increase since summer 2007?	21
7a. Has your company been affected by the cost or availability of credit? - by - Credit Rating	22
7b. In what ways has your company been affected by the credit market turmoil? (only companies with foreign sales) - by – 
Credit Rating	23
7c. Increased cost of credit: How many basis points increase? - by - Credit Rating	24
8a. In recent years, has your company had a line of credit with or secured debt financing from financial institutions in 
the West?	25
8b. If yes, is the higher cost and decreased availability of credit in the West causing you to secure credit from local 
Asian banks?	26
9. Do you anticipate that rising inflation will cause your company to take any of the following actions over the next 
six months?	27
9. Do you anticipate that economic conditions will cause your company to take any of the following actions over the next 
six months? - Other action specified	28
9. Do you anticipate that economic conditions will cause your company to take any of the following actions over the 
next six months? - Only companies affected by the cost or availability of credit	29
10. What is your company's strategic focus for 2009? To answer this question, distribute 100 points among the various 
choices. For example, if half of your strategic focus is revenue growth, enter 50 in the top box and distribute the remaining 
50 points to reflect the relative importance of the other categories. (should add to 100)	30
10. What is your company's strategic focus for 2009? - Other specified	31
Industry	32
Industry (Other specified)	33
Sales Revenue	34
Weighted Sales Revenue (Millions)	35
Number of Employees	36
Weighted Number of Employees	37
Headquarters Asia	38
Headquarters Asia (Other Specified)	39
Ownership	40
Foreign Sales	41
1

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

1. Are you more or less optimistic about your regional economy compared to last quarter?

	 	Number	Percent	95% CI
	3=More optimistic	56	26.7 %	± 6.0 %
	2=No change	30	14.3 %	± 4.7 %
	1=Less optimistic	124	59.0 %	± 6.7 %
	Total	210	100.0 %

	Mean = 1.7
	SD = 0.9

	Missing Cases = 2 
	Response Percent = 99.1 %

2

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

1b. Rate your optimism about your regional economy on a scale from 0-100, with 0 being the least optimistic and 100 being the most optimistic.

	Minimum = 0

	Maximum = 95

	Mean = 59.56

	Median = 60

	Variance (Unbiased) = 397.91

	Standard Deviation (Unbiased) = 19.95

	Standard Error Of The Mean  = 1.50

	95 Percent Confidence Interval Around The Mean = 56.62 - 62.50

	99 Percent Confidence Interval Around The Mean = 55.70 - 63.42

Quartiles

	 1 = 45
	 2 = 60
	 3 = 75

Valid Cases = 177 
Missing Cases = 35 
Response Percent = 83.5%

3

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

2. Are you more or less optimistic about the financial prospects for your own company compared to last quarter?

	 	Number	Percent	95% CI
	3=More optimistic	85	40.7 %	± 6.7 %
	2=No change	34	16.3 %	± 5.0 %
	1=Less optimistic	90	43.1 %	± 6.7 %
	Total	209	100.0 %

	Mean = 2.0
	SD = 0.9

	Missing Cases = 3 
	Response Percent = 98.6 %

4

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

2b. Rate your optimism about the financial prospects for your own company on a scale from 0-100, with 0 being the least optimistic and 100 being the most optimistic.

	Minimum = 0

	Maximum = 100

	Mean = 65.65

	Median = 70

	Variance (Unbiased) = 450.29

	Standard Deviation (Unbiased) = 21.22

	Standard Error Of The Mean  = 1.59

	95 Percent Confidence Interval Around The Mean = 62.53 - 68.76

	99 Percent Confidence Interval Around The Mean = 61.55 - 69.74

Quartiles

	 1 = 50
	 2 = 70
	 3 = 80

Valid Cases = 178 
Missing Cases = 34 
Response Percent = 84.0%

5

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

3. What are the top three external concerns facing your corporation? (rank #1, #2, #3)

(N=212)

	Mean & SD	1st	2nd	3rd	Total	
	0.0	0	0	0	0
Other:	0.0	0.0%	0.0%	0.0%	0.0%

	1.6	84	36	28	148
Consumer demand	0.8	39.6%	17.0%	13.2%	69.8%

	1.8	43	41	22	106
Cost of fuel	0.8	20.3%	19.3%	10.4%	50.0%

	1.9	9	12	7	28
U.S. housing market fallout	0.8	4.2%	5.7%	3.3%	13.2%

	2.0	1	3	1	5
Upcoming change in U.S. administration	0.7	0.5%	1.4%	0.5%	2.4%

	2.1	19	24	23	66
Credit markets/interest rates	0.8	9.0%	11.3%	10.8%	31.1%

	2.1	7	6	9	22
Foreign exchange rate volatility	0.9	3.3%	2.8%	4.2%	10.4%

	2.1	18	24	26	68
Cost of non-fuel commodities	0.8	8.5%	11.3%	12.3%	32.1%

	2.2	4	8	8	20
Foreign competition	0.8	1.9%	3.8%	3.8%	9.4%

	2.3	5	8	12	25
Environmental regulation	0.8	2.4%	3.8%	5.7%	11.8%

	2.3	17	33	51	101
Trade policies and trade agreements	0.8	8.0%	15.6%	24.1%	47.6%

	2.4	2	7	9	18
Financial regulation	0.7	0.9%	3.3%	4.2%	8.5%

	2.4	1	8	9	18
International political instability	0.6	0.5%	3.8%	4.2%	8.5%

6

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

3. What are the top three external concerns facing your corporation? REVERSE SCALE & WEIGHTED BY NUMBER OF RESPONDENTS (Higher number = greater weighted importance)

	Mean	SD	Total

Consumer demand	1.67	1.27	211

Cost of fuel	1.10	1.23	211

Trade policies and trade agreements	0.80	0.98	211

Cost of non-fuel commodities	0.61	0.99	211

Credit markets/interest rates	0.61	1.01	211

U.S. housing market fallout	0.27	0.76	211

Foreign exchange rate volatility	0.20	0.65	211

Environmental regulation	0.20	0.62	211

Foreign competition	0.17	0.58	211

Financial regulation	0.14	0.49	211

International political instability	0.13	0.47	211

Upcoming change in U.S. administration	0.05	0.32	211

Other:	0.00	0.00	211

7

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

3. What are the top three external concerns facing your corporation? - Other specified

1. Competition 3. trade ban lists of various countries	
Asian economies slowdown	
capacity / demand imbalance	
companies cutting back on travel expenses	
Competition	
Competitor	
Domestic political instability	
Domestic politics	
Due to slow down of economy services sector is being impacted	
Inflation	
loal regulations	
Local political instability	
Local political instability	
Local political instability	
market penetration difficulty	
Metal Prices	
MOE regulations	
Over capacity in mkt	
Regulatory matters and government intervention	
Rising costs	
Technology expenditure	
Thai Government Policy	
Uncertainity in Powr Sector	

8

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

4. What are the top three internal, company-specific concerns your corporation faces? (rank #1, #2, #3)

(N=212)

	Mean & SD	1st	2nd	3rd	Total	
	1.8	55	43	28	126
Ability to forecast results	0.8	25.9%	20.3%	13.2%	59.4%

	1.8	64	56	32	152
Attracting and retaining qualified employees	0.8	30.2%	26.4%	15.1%	71.7%

	1.9	4	3	3	10
Cost of health care	0.9	1.9%	1.4%	1.4%	4.7%

	2.0	33	27	30	90
Supply chain risk	0.8	15.6%	12.7%	14.2%	42.5%

	2.0	30	30	30	90
Customers paying more slowly	0.8	14.2%	14.2%	14.2%	42.5%

	2.1	8	3	11	22
Other:	0.9	3.8%	1.4%	5.2%	10.4%

	2.2	7	7	11	25
Protection of intellectual property	0.9	3.3%	3.3%	5.2%	11.8%

	2.4	5	15	21	41
Managing IT systems	0.7	2.4%	7.1%	9.9%	19.3%

	2.5	3	20	25	48
Balance sheet weakness	0.6	1.4%	9.4%	11.8%	22.6%

	2.6	1	5	11	17
Data security	0.6	0.5%	2.4%	5.2%	8.0%

9

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

4. What are the top three internal, company-specific concerns your corporation faces? REVERSE SCALE & WEIGHTED BY NUMBER OF RESPONDENTS (Higher number = greater weighted importance)

	Mean	SD	Total

Attracting and retaining qualified employees	1.59	1.19	211

Ability to forecast results	1.32	1.25	211

Supply chain risk	0.87	1.15	211

Customers paying more slowly	0.85	1.13	211

Balance sheet weakness	0.35	0.71	211

Managing IT systems	0.31	0.71	211

Protection of intellectual property	0.22	0.66	211

Other:	0.19	0.64	211

Data security	0.11	0.42	211

Cost of health care	0.10	0.48	211

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Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

4. What are the top three internal, company-specific concerns your corporation faces? - Other specified

ability to forecast demand	
bank borrowing	
brand image erosion	
Compliance	
cost structure	
Decision making process	
Enhanced competition in the market place	
exposure to credit	
Fundings Available for New Projects	
Improving Profitability	
increasing business costs	
increasing cost of hiring female employees	
internal processes	
labour union	
leadership cognizance	
local requlations	
merger	
retaining customers	
Sales Ability	
Shortage of skilled personnel	
weak top management	

11

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months? (e.g., +3%, -2%, etc.) [Leave blank if not applicable]

	Mean	SD	95% CI	Median	Minimum	Maximum	Total

Capital spending	10.24	25.48	5.62 - 14.86	10	-50	200	117

Marketing/advertising spending	9.24	23.66	4.69 - 13.79	5	-20	200	104

Wages/Salaries	8.00	5.83	7.11 - 8.89	7	-10	40	165

Technology spending	7.79	14.93	4.93 - 10.65	5	-20	100	105

Earnings	7.36	27.48	2.67 - 12.04	5	-70	150	132

Cash on the balance sheet	7.20	39.72	-0.66 - 15.07	1.50	-70	300	98

Number of domestic employees overall	6.85	24.90	2.30 - 11.40	5	-20	250	115

Health care costs	5.74	6.03	4.50 - 6.99	5	-10	30	90

Productivity (output per hour worked)	5.42	7.77	3.89 - 6.96	5	-20	35	99

Number of foreign/off-shore outsourced
employees	5.31	25.55	-0.60 - 11.21	0	-50	200	72

Dividends	5.00	21.58	-4.46 - 14.46	0	-20	90	20

Prices of your products	4.56	12.21	2.54 - 6.57	5	-50	100	141

Number of domestic employees in accounting/
finance	1.51	9.07	-0.34 - 3.35	0	-30	50	93

Share repurchases	0.38	1.75	-0.17 - 0.92	0	0	10	40

12

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months for:   [Unweighted - Sorted]

(N=212)

	Mean & SD	Positive	Zero	Negative	Total
	  	1	0	-1	  	
	0.9	157	4	4	165
Wages/Salaries	0.3	95.2%	2.4%	2.4%	100.0%

	0.8	73	14	3	90
Health care costs	0.5	81.1%	15.6%	3.3%	100.0%

	0.8	82	10	7	99
Productivity (output per hour worked)	0.6	82.8%	10.1%	7.1%	100.0%

	0.6	79	11	15	105
Technology spending	0.7	75.2%	10.5%	14.3%	100.0%

	0.5	70	20	14	104
Marketing/advertising spending	0.7	67.3%	19.2%	13.5%	100.0%

	0.5	84	10	23	117
Capital spending	0.8	71.8%	8.5%	19.7%	100.0%

	0.5	100	7	34	141
Prices of your products	0.9	70.9%	5.0%	24.1%	100.0%

	0.4	75	15	26	116
Number of domestic employees overall	0.8	64.7%	12.9%	22.4%	100.0%

	0.3	85	7	40	132
Earnings	0.9	64.4%	5.3%	30.3%	100.0%

Number of foreign/off-shore outsourced	0.3	31	33	8	72
employees	0.7	43.1%	45.8%	11.1%	100.0%

Number of domestic employees in	0.2	40	36	17	93
accounting/finance	0.7	43.0%	38.7%	18.3%	100.0%

	0.2	5	13	2	20
Dividends	0.6	25.0%	65.0%	10.0%	100.0%

	0.1	50	10	38	98
Cash on the balance sheet	0.9	51.0%	10.2%	38.8%	100.0%

	0.1	2	38	0	40
Share repurchases	0.2	5.0%	95.0%	0.0%	100.0%

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Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?  [All Companies - Windsorized - Revenue Weighted - Sorted] 

	Mean	SD	95% CI	Median	Minimum	Maximum

Capital spending	7.56	13.79	6.93 - 8.19	5	-39.70	60.18

Earnings	6.05	14.81	5.38 - 6.71	5	-46.50	61.22

Technology spending	4.77	8.08	4.38 - 5.16	5	-20	37.05

Marketing/advertising spending	3.94	9.54	3.45 - 4.42	5	-20	55.61

Cash on the balance sheet	3.42	19.62	2.33 - 4.52	0	-70	85.05

Prices of your products	1.50	7.69	1.17 - 1.84	2	-19.40	28.49

Share repurchases	0.56	1.35	0.46 - 0.66	0	0	3.81

Dividends	0.49	8.41	-0.21 - 1.19	0	-20	47.30

14

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?  [All Companies - Windsorized - Employee Weighted - Sorted]

	Mean	SD	95% CI	Median	Minimum	Maximum

Number of domestic employees overall	7.45	11.06	7.05 - 7.85	5	-20	55.65

Wages/Salaries	6.62	4.71	6.46 - 6.77	5	-3.43	19.43

Productivity (output per hour worked)	4.65	4.07	4.49 - 4.82	5	-9.81	20.65

Health care costs	4.50	5.52	4.23 - 4.78	1	-6.08	17.56

Number of foreign/off-shore outsourced employees	3.57	7.60	3.25 - 3.90	1	-44.80	55.39

Number of domestic employees in accounting/finance	2.79	7.42	2.51 - 3.07	1	-16.30	19.29

15

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

5. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months?  [Public Companies - Windsorized - Revenue Weighted] 

	Mean	SD	95% CI	Median	Minimum	Maximum

Earnings	6.28	12.32	5.57 - 7.00	5	-46.50	61.22

Cash on the balance sheet	0.22	14.54	-0.80 - 1.24	0	-20	85.05

Dividends	0.49	8.41	-0.21 - 1.19	0	-20	47.30

Share repurchases	0.75	1.51	0.62 - 0.88	0	0	3.81

16

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

6a. In the next 12 months, does your company plan to:

	 	Number	Percent	95% CI
	Acquire another company or companies?	28	13.2 %	± 4.6 %
	Acquire part of another company or companies?	18	8.5 %	± 3.8 %
	Both	33	15.6 %	± 4.9 %
	Neither	133	62.7 %	± 6.6 %
	Total	212	100.0 %

	Missing Cases = 0 
	Response Percent = 100.0 %

17

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

6b. In the next 12 months, does your company plan to:

	 	Number	Percent	95% CI
	Neither	189	90.0 %	± 4.2 %
	Sell part of your company?	17	8.1 %	± 3.7 %
	Sell your company?	4	1.9 %	± 1.8 %
	Total	210	100.0 %

	Missing Cases = 2 
	Response Percent = 99.1 %

18

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7a. Has your company been affected by the cost or availability of credit?

	 	Number	Percent	95% CI
	1=No	117	55.7 %	± 6.8 %
	2=Yes, somewhat	72	34.3 %	± 6.4 %
	3=Yes, very much	21	10.0 %	± 4.1 %
	Total	210	100.0 %

	Mean = 1.5
	SD = 0.7

	Missing Cases = 2 
	Response Percent = 99.1 %

19

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7b. If yes, in what ways has your company been affected by the credit market turmoil? (check all that apply)

	 	Number	Percent	95% CI
	Increased cost of credit	55	59.1 %	± 10.2 %
	Decreased availability of credit	43	46.2 %	± 10.3 %
	Experienced difficulty initiating or renewing a bank credit
	   line	14	15.1 %	± 7.4 %
	Other	7	7.5 %	± 5.5 %
	Total	119

	Number of Cases =93
	Number of Responses =119
	Average Number Of Responses Per Case = 1.3
	Number Of Cases With At Least One Response =87
	Response Percent = 93.5 %

20

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7b. If yes, in what ways has your company been affected by the credit market turmoil? - Other specified

indirectly affected via our customers	
Longer credit evaluating process	
More paperwork and delays	
Our Customers find it hard to get credit	
positive effect as interest decline	
Slowdown in customer order	
We borrow with Govt Guarantee	

21

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7c. Increased cost of credit - How many basis points increase since summer 2007?

	Minimum = 1

	Maximum = 700

	Mean = 141.53

	Median = 100

	Variance (Unbiased) = 21425.21

	Standard Deviation (Unbiased) = 146.37

	Standard Error Of The Mean  = 20.91

	95 Percent Confidence Interval Around The Mean = 100.55 - 182.52

	99 Percent Confidence Interval Around The Mean = 87.69 - 195.38

Quartiles

	 1 = 21.25
	 2 = 100
	 3 = 200

Valid Cases = 49 
Missing Cases = 6 
Response Percent = 89.1%

22

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7a. Has your company been affected by the cost or availability of credit? - by - Credit Rating

N=121		Total		Credit Rating	
		 		AAA/AA	A	BBB/BB	B or Less	
		 		A	B	C	D	
								
Total		121		67	33	16	5	
		100.0%		55.4%	27.3%	13.2%	4.1%	
								
1=No		67		38	16	11	2	
		56.3%		58.5%	48.5%	68.8%	40.0%	
								
2=Yes, somewhat		42		19	15	5	3	
		35.3%		29.2%	45.5%	31.3%	60.0%	
								
3=Yes, very much		10		8	2	---	---	
		8.4%		12.3%	6.1%	---	---	
								
Mean		1.5		1.5	1.6	1.3	1.6	
SD		0.6		0.7	0.6	0.5	0.5	

Significance Tests Between Columns:   Lower case: p<.05   Upper case: p<.01

23

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7b. In what ways has your company been affected by the credit market turmoil? (only companies with foreign sales) - by - Credit Rating

N=52		Total		Credit Rating	
		 		AAA/AA	A	BBB/BB	B or Less	
		 		A	B	C	D	
								
Total		52		27	17	5	3	
		100.0%		51.9%	32.7%	9.6%	5.8%	
								
Increased cost of		31		16	11	2	2	
credit		59.6%		59.3%	64.7%	40.0%	66.7%	
								
Decreased		23		14	6	2	1	
availability of credit		44.2%		51.9%	35.3%	40.0%	33.3%	
								
Experienced difficulty
initiating or renewing		
6		
4	
1	
---	
1	
a bank credit line		11.5%		14.8%	5.9%	---	33.3%	
								
Other		2		1	1	---	---	
		3.8%		3.7%	5.9%	---	---	

Significance Tests Between Columns:   Lower case: p<.05   Upper case: p<.01

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Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

7c. Increased cost of credit: How many basis points increase? - by - Credit Rating

N=37		Total		Credit Rating	
				AAA/AA	A	BBB/BB	B or Less	
				A	B	C	D	
								
Number		37		18	12	3	4	
Percent		100.0%		48.6%	32.4%	8.1%	10.8%	
								
How many basis points increase since summer 2007?	
								
N		34		18	12	1	3	
Mean		133.1		130.6	72.7	100.0	401.0	
SD		162.4		125.7	87.2	---	358.9	
				d	D		aB	

Significance Tests Between Columns:   Lower case: p<.05   Upper case: p<.01

25

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

8a. In recent years, has your company had a line of credit with or secured debt financing from financial institutions in the West?

	 	Number	Percent	95% CI
	No	161	77.0 %	± 5.8 %
	Yes	48	23.0 %	± 5.7 %
	Total	209	100.0 %

	Missing Cases = 3 
	Response Percent = 98.6 %

26

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

8b. If yes, is the higher cost and decreased availability of credit in the West causing you to secure credit from local Asian banks?

	 	Number	Percent	95% CI
	No	19	40.4 %	± 14.4 %
	Yes, we are considering it	12	25.5 %	± 12.7 %
	Yes, we have already done so	16	34.0 %	± 13.9 %
	Total	47	100.0 %

	Missing Cases = 1 
	Response Percent = 97.9 %

27

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

9. Do you anticipate that rising inflation will cause your company to take any of the following actions over the next six months?

(N=212)

	Yes	No	Total	
	145	60	205
Establish a substantial cost cutting program	70.7%	29.3%	100.0%

Change your sourcing practices (e.g.,	128	64	192
consolidating suppliers)	66.7%	33.3%	100.0%

	122	68	190
Expand into higher-margin lines of business	64.2%	35.8%	100.0%

	95	101	196
Delay, reduce or cancel new investment plans	48.5%	51.5%	100.0%

	93	101	194
Delay, reduce or cancel hiring plans	47.9%	52.1%	100.0%

	84	106	190
Hedge (e.g., forward contracts for suppliers)	44.2%	55.8%	100.0%

28

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

9. Do you anticipate that economic conditions will cause your company to take any of the following actions over the next six months? - Other action specified 

take in lower margin for existing business to fill capacity	
Increase usage of standardization across group, usage of shared service centres etc.	
Have a sustainable vertical to cover overheads	
NA	
price increase to customers	

29

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

9. Do you anticipate that economic conditions will cause your company to take any of the following actions over the next six months? - Only companies affected by the cost or availability of credit

(N=48)

	Yes	No	Total	
	29	16	45
Establish a substantial cost cutting program	64.4%	35.6%	100.0%

Change your sourcing practices (e.g.,	26	17	43
consolidating suppliers)	60.5%	39.5%	100.0%

	23	19	42
Hedge (e.g., forward contracts for suppliers)	54.8%	45.2%	100.0%

	23	22	45
Delay, reduce or cancel new investment plans	51.1%	48.9%	100.0%

	20	22	42
Delay, reduce or cancel hiring plans	47.6%	52.4%	100.0%

	1	47	48
Expand into higher-margin lines of business	2.1%	97.9%	100.0%

30

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

10. What is your company's strategic focus for 2009? To answer this question, distribute 100 points among the various choices. For example, if half of your strategic focus is revenue growth, enter 50 in the top box and distribute the remaining 50 points to reflect the relative importance of the other categories. (should add to 100)  

	Mean	SD	95% CI	Median	Minimum	Maximum

% Revenue Growth (Pursue new customers, increase
business with existing customers, etc.)	41.3	18.7	38.8 - 43.9	40	0	100

% Direct Cost Reduction (Improve cost efficiency of
sourcing, manufacturing, distribution, service delivery, etc.)	17.6	11.9	16.0 - 19.2	20	0	50

% Overhead Cost Reduction (Improve efficiency of shared
services, SG&A, etc.)	14.3	9.0	13.1 - 15.6	15	0	50

% Capability Development (Strengthen managerial and
operational compentencies)	13.2	10.9	11.7 - 14.7	10	0	50

% Asset Efficiency (Improve management of inventory,
PP&E, receivables/payables, etc.)	12.4	10.7	10.9 - 13.8	10	0	70

% Other	1.1	5.1	0.4 - 1.8	0	0	50

31

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

10. What is your company's strategic focus for 2009? - Other specified 

Better Exchange Management	
Finance cost reduction	
financial risk management	
Improve IT Capabilities to reduce cost	
increase of investment	
integration of acq units/companies	
Margin Increase	
Price Increase from Customers	
Profits growth	
Retaining employees	
Staff retention	

32

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Industry

	 	Number	Percent
	Manufacturing	72	35.1 %
	Other	30	14.6 %
	Tech [Software/Biotech]	18	8.8 %
	Retail/Wholesale	17	8.3 %
	Healthcare/Pharmaceutical	16	7.8 %
	Service/Consulting	16	7.8 %
	Banking/Finance/Insurance	12	5.9 %
	Transportation/Energy	10	4.9 %
	Communications/Media	9	4.4 %
	Mining/Construction	5	2.4 %
	Total	205	100.0 %

	Missing Cases = 7 
	Response Percent = 96.7 %

33

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Industry (Other specified)

Aviation	
BPO	
BPO	
Education	
Education	
education	
Engineering Procurement Construction (EPC)	
Event organiser	
FMCG	
Food processing	
government agency	
Hospitality	
Hotel	
Information technology	
International Commodity Trading	
liesure and entertainment	
Liquid Food industry	
Logistics	
Manufacturing Electrical Components	
Oil & Gas Industry	
oil & gas	
Real Estate	
Real Estate Consultancy / Development Management	
Real estate investment trust	
Rural Infrastructure	
Security solution	
Solar	
Tourism sector	
Water & Waste Water Management	

34

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Sales Revenue

	 	Number	Percent
	Less than $25 million	48	23.1 %
	$25-$99 million	58	27.9 %
	$100-$499 million	47	22.6 %
	$500-$999 million	15	7.2 %
	$1-$4.9 billion	17	8.2 %
	$5-$9.9 billion	11	5.3 %
	More than $10 billion	12	5.8 %
	Total	208	100.0 %

	Missing Cases = 4 
	Response Percent = 98.1 %

35

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Weighted Sales Revenue (Millions)

	Minimum = 25

	Maximum = 11000

	Mean = 1421.38

	Median = 62

	Variance (Unbiased) = 8775104.44

	Standard Deviation (Unbiased) = 2962.28

	Standard Error Of The Mean  = 205.40

	95 Percent Confidence Interval Around The Mean = 1018.80 - 1823.95

	99 Percent Confidence Interval Around The Mean = 892.48 - 1950.27

	Skewness = 2.37

	Kolmogorov-Smirnov Statistic For Normality = 5.75

Quartiles

	 1 = 62
	 2 = 62
	 3 = 750

Valid Cases = 208 
Missing Cases = 4 
Response Percent = 98.1%

36

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Number of Employees

	 	Number	Percent
	Fewer than 100	29	15.9 %
	100-499	56	30.8 %
	500-999	20	11.0 %
	1,000-2,499	30	16.5 %
	2,500-4,999	13	7.1 %
	5,000-9,999	6	3.3 %
	Over 10,000	28	15.4 %
	Total	182	100.0 %

	Missing Cases = 30 
	Response Percent = 85.8 %

37

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Weighted Number of Employees

	Minimum = 100

	Maximum = 12000

	Mean = 2840.38

	Median = 750

	Variance (Unbiased) = 17637738.53

	Standard Deviation (Unbiased) = 4199.73

	Standard Error Of The Mean  = 311.30

	95 Percent Confidence Interval Around The Mean = 2230.23 - 3450.54

	99 Percent Confidence Interval Around The Mean = 2038.77 - 3641.99

	Skewness = 1.53

	Kolmogorov-Smirnov Statistic For Normality = 4.67

Quartiles

	 1 = 300
	 2 = 750
	 3 = 3750

Valid Cases = 182 
Missing Cases = 30 
Response Percent = 85.8%

38

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Headquarters Asia

	 	Number	Percent
	U.S.	31	14.8 %
	India	27	12.9 %
	Europe	26	12.4 %
	Singapore	25	12.0 %
	Hong Kong	22	10.5 %
	Malaysia	20	9.6 %
	Philippines	13	6.2 %
	People's Republic of China	11	5.3 %
	Indonesia	11	5.3 %
	Japan	7	3.3 %
	Taiwan	6	2.9 %
	Other (please specify)	5	2.4 %
	Thailand	4	1.9 %
	Korea	1	0.5 %
	Sri Lanka	0	0.0 %
	Laos	0	0.0 %
	Total	209	100.0 %

	Missing Cases = 3 
	Response Percent = 98.6 %

39

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Headquarters Asia (Other Specified)

100% subsidiary of anglo-	
Bangkok Regional HQ	
Germany	
Ireland	
Jakarta	
Jakarta	
Norway	
SWITZERLAND	
UK	

40

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Ownership

	 	Number	Percent
	Private	125	60.1 %
	Public	74	35.6 %
	Government	5	2.4 %
	Nonprofit	4	1.9 %
	Total	208	100.0 %

	Missing Cases = 4 
	Response Percent = 98.1 %

41

Duke CFO Global Business Outlook survey - Asia - Third Quarter, 2008

Foreign Sales

	 	Number	Percent
	0%	39	18.8 %
	1-24%	43	20.7 %
	25-50%	39	18.8 %
	More than 50%	87	41.8 %
	Total	208	100.0 %

	Missing Cases = 4 
	Response Percent = 98.1 %