COMPANY VIEW-Impact of euro zone crisis on business outlook

Dec 3 (BestGrowthStock) – A debt crisis has engulfed Greece and
Ireland, sparking worries other countries in the euro zone
such as Portugal and Spain could be next in the firing line.

The crisis has also dealt a blow to markets globally and
raised concerns about the outlook for the world economy, still
fragile after the financial crisis.

Following are some reactions from executives.

For top stories on the euro zone crisis: [ID:nTOPNOW6]

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LIM CHEONG GUAN, EXECUTIVE DIRECTOR, TOP GLOVE

“Crisis is not good for any business as it creates
uncertainty. We have experienced the financial crisis in 2008
but the impact was minimal as gloves are necessity item
especially in the healthcare industry. The current debt crisis
in Europe may have impacted certain customers but would not be
significant as hospitals and other healthcare providers will
still need to use gloves. It has been business as usual for us
but we have to be more cautious. We may have to monitor more
closely on collection and reduce open credit to our customers.”

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DAVID GARDNER, MANAGING DIRECTOR, GLOBAL HEAD OF PROJECT
FINANCE GLOBAL BANKING, HSBC

“We’re bankers, so we’re always concerned. I think it’s a
crisis that will eventually resolve itself. Sometimes the
media makes too much of a thing and like to self-propagate the
issue.

“I’m a very long-term animal, I don’t look at things for
three weeks, I look at things for 10, 20 years, so I
think….certain firms need to slow down, they need to balance
their budget. The second is that you actually need to start to
fragment, or maybe go outside of the euro.

“Project finance looks at a project independently, so it
is case-by-case. If it’s solid, has a good structure, if it
has a solid sponsor behind it, a champion who can actually run
through good times and bad times, we will look at it
independently. You have to look at the viability of the
project itself. We’re looking at projects in Greece right now.”

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STRAUSS ZELNICK, CHAIRMAN, TAKE-TWO INTERACTIVE SOFTWARE

“It hasn’t had an impact yet. I am concerned about it. We
just got out of a huge mess here (United States). We are just
beginning to see light at the end of the tunnel. I’m not
especially worried about the European debt crisis having a
systemic affect on the U.S. economy yet.

“There are enough data points AIG repaying money and GM
going public. I don’t think the European debt crisis is going
to plunge us back to August, September, October, November
2008. But it ain’t great if it effects consumer confidence
because consumers really did stay away. It affected our
business – I’m really proud how we weathered it because we are
incredibly conservative. We suffered no losses. It all went
fine but it certainly wasn’t any fun.”

**

TETSUO ONISHI, GENERAL MANAGER, SOLAR BUSINESS, SHARP
CORPORATION

“At this point, we are dealing with Germany, Italy and
France, so we are not all that worried. It would be different
if it were Ireland or Spain. Germany has pledged to raise the
proportion of its energy produced from renewable sources to a
certain level by 2020. That is policy, so unless they withdraw
it they will do it.”

**

JEAN-LOUIS CHAUSSADE, CEO OF SUEZ ENVIRONMENT

“I’m not sure there is really a debt crisis in Europe more
than elsewhere. The Euro zone is strong in my view and in my
specific case, I have no specific concern.

“You over react to the situation. I was today at a big
meeting at a French institution and basically everyone was
saying the Euro zone is strong. Yes we have to face some
difficulties but many countries worldwide are facing financial
difficulties because the crisis had affected nearly every
country but China. Yes, we have to take care, but the
situation is really not that difficult and I think we will
overcome.”

(Editing by Dhara Ranasinghe)

COMPANY VIEW-Impact of euro zone crisis on business outlook