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Ensuring Business Resilience in Unpredictable Times

  • Two new initiatives and key findings from the Business Continuity Management (BCM) Survey will be launched at the Conference
6 January 2016 [Singapore] – The Singapore Business Federation (SBF) commended 21 Singapore companies that are certified to ISO22301:2012, an international BCM standard, at the annual Business Continuity Management (BCM) annual conference. The event is graced by Minister of State for Trade and Industry Dr Koh Poh Koon. Dr Koh spoke about two new initiatives for companies to develop a Business Continuity Plan (BCP) with the Government’s support, and for logistics companies to raise their BCM-Readiness through a 56 page handbook produced for the cold chain, warehousing and storage industry.

The BCP initiative will enable SMEs to develop a basic BCP to manage specific disruptions such as haze and pandemic. To ensure that the plans are robust, the verification would be done by internationally-accredited BCM standard certification bodies. The second initiative, a BCM-Readiness Framework handbook, enables logistics companies in the cold chain, warehousing and storage industry to assess their state of BCM-Readiness. It also offers recommendations for businesses to improve their resilience against disruptions. This handbook will be distributed to the logistics companies and is a collaborative effort between SBF and the Singapore Logistics Association.

Mr Stanley Lim, SLA Chairman, said, “Singapore’s prime location in the region, world-class infrastructure and excellent global connectivity has made it an important logistics hub and conduit for world trade. To ensure that we continue to be a leading logistics and supply chain management centre, it is critical for companies to embrace BCM to guard against unforeseen events. As SLA member companies are at various stages of growth, they have different requirements when assimilating business continuity measures in their operations and planning. The handbook aims to cater to these needs and growth aspirations of our companies. I hope our joint initiative with SBF will benefit the Singapore logistics sector by strengthening the resilience and capabilities of our logistics community.”

Mr Ho Meng Kit, SBF Chief Executive Officer, also shared about the key findings of the BCM survey that was conducted from September to November 2015. In the survey, 231 Singapore companies shared their views on BCM and how SMEs could be encouraged to raise their business resilience. Mr Ho said, “We are heartened by the survey’s findings which showed that a significant number of companies identified a strong need and sense of ownership for BCM. Besides having the ability to continue their business operations, more than 80% companies shared that their readiness also provides stakeholders with the assurance that their businesses are sustainable. This is important in view of the unpredictable economic outlook ahead.”

Mr Ho added, “We would be using the findings to develop new ways to assist companies that experienced problems in developing processes or measures to safeguard their businesses. Two of such initiatives would be the verifiable BCP and BCM-Readiness Framework handbook shared today.”

Over the next three years, as SPRING Singapore’s appointed partner, SBF will be working closely with the industry and other trade associations and chambers to raise companies’ capabilities in enterprise resilience in the following standards:
  • ISO 22301 Societal Security – Business Continuity Management Systems
  • ISO 27001 Information Security Management Systems
  • ISO 28000 Certification on Security Management Systems for Supply Chain
  • SS 584 Specification for Multi-tiered Cloud Computing Security
For more information on funding support and other available resources, please visit the SBF BCM portal at www.bcm.org.sg.

Welcome Remarks by SBF CEO, Ho Meng Kit

Opening Remarks by Guest of Honour, Minister of State for Trade and Industry, Dr Koh Poh Koon

Dr Koh Poh Koon giving the Opening Remarks

Representatives of companies that have been ISO22301:2012 certified

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