Financial crisis weighs on executives' minds

By Patrick M. Fitzgibbons

NEW YORK (Reuters) - The most serious financial crisis in decades has caused business executives and government officials around the world to rein in their expectations for short- and long-term growth and warn that business volatility will be around for some time to come.

In a series of interviews with Reuters reporters, these executives -- from industries as varied as oil to property to construction crane rentals -- spoke of the widening global credit crisis and their many concerns.

Most said they were keeping a close eye on Washington, to see how the $700 billion bailout package designed to halt the crisis would work.

What is more, on Monday and Tuesday, markets around the world continued to struggle due to concerns the bailout would not be enough.

This is Reuters' fifth wrap-up of comments on this crisis.

The following are excerpts and highlights from interviews with executives on Tuesday:

TAT HONG CHIEF EXECUTIVE ROLAND NG

Singapore crane rental company Tat Hong said turmoil in the global economy will hurt earnings in 2010, but existing leasing agreements will help it meet this year's profit forecast.

"We cannot run away and be unaffected by the world financial crisis," Ng told Reuters. "But our projects are for six to 18 months, so for full-year 09, we will still do pretty well."

The company, which rents cranes in Southeast Asia and Australia, will achieve its three-year target of growing net profit an average of 30 percent a year to hit S$96 million ($65.39 million) in the fiscal year ending March 2009, he said.

ORPI CHAIRMAN BERNARD CADEAU

Orpi, the company that runs France's biggest network of estate agents, said it was confident about its prospects, despite the financial crisis that has rattled property markets around the world.

Cadeau said Orpi had outperformed rivals, despite suffering lower sales.

"Our network is vibrant and what I say is reflected in the industry. Whereas Orpi has lost 11 percent in terms of numbers of transactions, the rest of the market overall has lost 25 percent," he said.

"Like everyone else, we have difficulties due to the market conditions, but with us the effect is more or less toned down."