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Coronavirus

70% of multinationals in Asia expect revenue drops over coronavirus: Survey

Disease forces 40% of companies to rethink strategies for this year

An employee wearing a face mask works on a car seat assembly line in Shanghai on February 24: the coronavirus is putting the model for integrated supply chains of production to the test.   © Reuters

SINGAPORE -- More than 70% of multinational companies operating in Asia expect revenues to decline this year due to the new coronavirus outbreak, a new survey released Wednesday found, illustrating the regionwide impact of the disease on businesses. Nearly 40% of the companies are already changing their business plans for the rest of the year, including measures such as reshuffling supply chains and cutting jobs.

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