More than 60 percent of Malaysia's medium-sized enterprises are inclined to develop overseas business, according to a survey by Standard Chartered Bank Malaysia.

There are 76 percent of respondents indicating that they have carried out their business in the Association of South East Asian Nations (ASEAN) region, an important hub to develop overseas business, the survey said.

The medium-sized enterprises are facing both opportunities and challenges when seeking internationalization, according to Mahendra Gursahani, the Chief Executive Officer and Managing Director of Standard Chartered Bank Malaysia.

About 80 percent of Malaysia's medium-sized enterprises are confident that the growth potential will remain strong in the next five years, according to the survey.