Asia: Asia Pacific 2013 Outlook

A cyclical rebound in Asian economic growth is underway, which we expect to extend into H113, although
we remain below consensus in our growth forecasts on the whole for 2013, owing to the downside risks
posed by credit market excesses and the widening of global trade imbalances. Nevertheless, the telecoms
industry has repeatedly proven its resilience in recent years, particularly during the global financial crisis, as
services have become an integral part of the lives of consumers and businesses. BMI considers the outlook
for the major markets in Asia Pacific, identifying outperformers, underperformers and potential risks for the
industry.