Close to half (45%) of businesses in Singapore have a well-defined digital strategy, making it the highest proportion in the Asia Pacific (APAC) region, overtaking Japan in 2019, according to the DBS 2020 Digital Treasurer Survey.

The survey, which polled around 1,700 corporate treasurers, CEOs, CFOs, and businesses around the region, revealed that Hong Kong and Japan came in second and third place at 44% and 41% respectively, while the Philippines and Vietnam rounded up the bottom with only 10% and 8% of businesses being digitally-ready.

The numbers still put businesses in APAC behind their peers in the UK and US. For instance, almost half of the businesses in the latter have well-defined digital strategies compared to the two in 10 in APAC.

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