Insights – Key takeaways from CA ANZ Asia Regional webinar on Post COVID-19 business recovery

An engaging and insightful discussion on “Post COVID-19 business recovery – Where are we now, dealing with the challenges ahead and capitalising on new opportunities” at the CA ANZ webinar held on 19 April 2022.

DHC Capital Partner, David Chew moderated the webinar. Panel members included Harsha Basnayake (Deputy Area Managing Partner Asia Pacific Area, EY), Lennard Yong (Group CEO, Tricor Group) and Dato George Lim (CEO, G&A Group).

Key takeaways from the webinar:

  • Current business landscape / “Where are we now”:

    • All companies impacted by COVID-19, but not all companies impacted equally as some prospered and performed better. Companies with strong balance sheets and were ready with a digital and technology strategy prospered during the pandemic

    • Opening to a market that is very different to when the pandemic first hit – (i) uneven approach to opening borders and different levels of vaccination rates, (ii) inflationary pressures, supply chain disruption and higher interest rates and (iii) heightened geo-political risks and de-globalisation (feels like the ground is “shifting” beneath us)

    • Sharp focus on managing costs and access to capital

  • Challenges:

    • Talent/people – Employees have choices. There is a tight labour market and retaining top talent is high priority. Wage cost inflation is a big consequence. Employers must embrace technology, build their culture and engage staff via mentorship and on-the-job training

    • Decision making – Quick decisions and execution is critical in a fast-changing environment

    • Leadership – Premium for visionary leaders with creative and out of the box thinking

  • Opportunities:

    • Increasing use of technology to analyse/extract data (e.g. measure performance) and make workflows more intelligent (e.g. using robots to automate repetitive tasks)

    • Internal assessment of business – capital structure, staffing structures and building upon work processes that were successful during the pandemic

    • M&A for inorganic growth – Carve outs and distressed M&A represent opportunities to make a transformative change

About CA ANZ (Chartered Accountants Australia and New Zealand)

CA ANZ is the leading professional accounting body in Australia and New Zealand representing over 125,000 members in Australia, New Zealand and overseas.

David Chew1-30