We spoke to over 30 CEOs and business leaders. Here's what worries them most

Business leaders are confronting a new operating reality: one where war, inflation, AI and supply chain shocks are no longer exceptional events, but part of the baseline. CNBC spoke to more than 30 CEOs, business executives and industry leaders at the annual Converge Live event in Singapore last week. Across sectors — banking, energy, shipping, technology and manufacturing — a clear theme emerged: uncertainty is no longer episodic. It is structural. For DBS CEO Tan Su Shan , who runs Southeast Asia's largest bank, the lesson is simple. "If you are a manager, manage for maximum flexibility. Because guess what, you don't know what's going to happen tomorrow," she said. "Stress test, stress test, stress test, so be ready for the worst case scenario." 1. A world of constant shocks Executives said the cadence of crises has accelerated, from the pandemic to trade wars , and now geopolitical conflict . "Long-term planning is becoming more and more difficult," said Stanley Szeto, chairman of apparel manufacturer Lever Style. Companies are increasingly abandoning traditional planning cycles. "We kind of threw our three-year and five-year plan out the window," another executive said. Instead, leaders are operating in a state of permanent contingency planning . "It's no longer 'just in time', it's 'just in case'," said Thomas Knudsen, managing director for Asia of jewelry giant Pandora. …