The Straits Times / The Business Times News on Best World

Oil-dollar impact

The US dollar is weakening and energy prices are rising inexorably. What challenges -- and opportunities -- do these twin developments pose to the business sector and the economy generally? What should businesses and the government do to address these challenges?

EVERY challenge will bring about opportunities and drawbacks for any business. The weakening of the US dollar and rising energy prices are part of the macro environment, and no one can really predict to what extent they will impact the economy and businesses. There are just too many factors in play. Although business and government can try to put in place some policies to minimise the impact, it is not really within our control.

At the company level, headquartered in Singapore, our purchases are made in US$, hence, the weakening currency could translate into better profit margins for us. There is also minimal effect on our exports as the reporting currency is Sing dollar.

- Dora Hoan
Group CEO
Best World International Ltd