KUALA LUMPUR, Jan. 21 (Xinhua) -- Chief executives in Malaysia are moving faster to reinvent their businesses, with 84 percent planning to expand beyond their traditional industry boundaries, according to PwC's 29th Global CEO Survey -- Malaysia.
PwC said on Tuesday that Malaysian CEOs are targeting adjacent and fast-growing sectors, including retail (22 percent), consumer goods and services (16 percent) and technology (14 percent), based on responses from 4,454 CEOs globally.
This push into new areas is underpinned by relatively strong deal-making ambitions. About 51 percent of Malaysian CEOs plan to pursue at least one major acquisition over the next three years, exceeding the Asia Pacific average of 28 percent and the global average of 45 percent, despite a cautious global mergers and acquisitions outlook.
Corporate diversification has also accelerated sharply. Over the past five years, 76 percent of Malaysian companies have entered entirely new sectors, up from 42 percent in 2025, the survey showed.
However, the drive to reinvent is unfolding amid growing caution. Only 33 percent of CEOs in Malaysia said they are very or extremely confident about their company's revenue growth over the next 12 months, marking a double-digit decline from last year.
Concerns about keeping pace with change are mounting, with 70 percent of respondents worried that technological advances could outstrip their transformation efforts.
Meanwhile, 41 percent questioned whether their organizations are doing enough to secure medium- to long-term viability.
PwC attributed the drop in confidence to a "polycrisis" of overlapping risks, including geopolitical tensions, economic volatility, cyber threats and climate-related challenges. Talent availability remains the top concern among Malaysian CEOs, cited by 35 percent, followed by cyber risks and technological disruption, both at 33 percent. ■