Asian energy corporates remain bullish in 2012: survey

Despite an uncertain global backdrop, energy companies in Asia retain a positive outlook for 2012, finds a survey commissioned by Standard Chartered Bank

The corporate sentiment survey, carried out by independent research specialist Nielsen for Standard Chartered Bank's equity research division, polled 529 corporates from 12 different industries in seven Asian economies.

Across the survey, corporates in the energy sector are the most bullish in terms of overall outlook and future growth, with 85% seeing an improvement in business growth prospects in 2012. "Almost 50% of companies see order books growing more than 10% on benign cost expectation