Only 16% say they can quantify financial risk exposure in real or near-real time, while 85% cite tariffs as a significant concern
SINGAPORE, August 25, 2026–(BUSINESS WIRE)–Business optimism among Singapore CFOs fell 34 percentage points year over year, from 93% in late 2025 to 59% in 2026, the largest decline across the nine markets surveyed by Kyriba. At the same time, only 16% of Singapore respondents say their organisations can quantify financial risk exposure in real time or near real time. The findings reveal a widening gap between awareness of risk and the ability to assess its financial impact quickly enough to respond.
The findings from Kyriba’s CFO Risk Radar 2026 are being released as more than 300 treasury and finance leaders gather at KyribaLive Exchange Singapore today to discuss financial risk, resilience and the changing role of treasury across Asia-Pacific.
Singapore recorded the sharpest reversal in confidence among the nine markets surveyed: France, Germany, Italy, Japan, Mexico, Singapore, Spain, the UK and the US. Business optimism, measured as the share of respondents reporting a positive business outlook, fell from 93% in late 2025 to 59% in 2026.
Economic optimism also fell, from 90% to 61%, a decline of 29 percentage points. Singapore moved from being the most optimistic market in the survey at the end of 2025 to one of the least optimistic six months later. The shift comes as Singapore faces a more uncertain global trading environment. The survey was conducted between 26 May and 9 June, before the United States imposed a new 12.5% tariff on 24 July under Section 301 of the US Trade Act.
The tariff is expected to affect about one-third of Singapore’s exports to the US, worth approximately S$9.5 billion (US$7.4 billion), according to Singapore Trade Minister and Deputy Prime Minister Gan Kim Yong, as reported by Reuters. The affected categories include optical instruments and chemical products, while certain electronics, aerospace products, semiconductors, pharmaceuticals, energy and energy products are exempt.
Even before that announcement, 85% of Singapore CFOs cited tariffs as a significant concern, the highest country-level result recorded in the survey. Mexico followed at 83%.
High concern is not the same as high readiness
Singapore’s finance leaders are not short of warning signals. The more practical question is whether they can quantify the consequences quickly enough to act. Only 16% say they can quantify the financial implications of an emerging external risk in real time or near real time. The largest group, 29.7%, say they need up to a full week.
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