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Survey Summaries


MEF Survey on the Preparedness of Companies for Business Continuity During and After MCO (19 April – 1 May 2020)
Published on 9 February 2022
 
 

MEF conducted the third survey on the impact of COVID-19 pandemic from 19 April – 1 May 2020 to obtain feedback and comments from members with regards to the preparedness of companies to business continuity during MCO and CMCO.

The survey findings showed that:

  • Some financial measures that have been adopted by respondent companies as part of their overall business risk and continuity plan by the respondent companies included:
    • Implementing cost containment measures (69.0%)
    • Deferring or cancelling planned investments (44.0%)
    • Changing company financing repayments and deferments (41.3%)
    • Review and closure of non-performing outlets (14.8%)
    • Initiation of rent negotiations with landlords (40.0%)
  • 64.5% of the respondent companies have responded rapidly and robustly to maintain business continuity by activating their incident management teams to manage the business disruptions while 63.4% of the companies have activated their strategic crisis management teams to oversee strategic business changes caused by the impact of COVID-19.
  • As a step to strengthen overall preparedness in the face of supply chain disruption, the respondent companies have adopted the following measures:
    • Identify a list of critical suppliers in response to COVID-19 (69.8%)
    • Review the business continuity plans of key suppliers to ensure continuity of service (65.9%)
    • Prioritise suppliers for review based on operating location (56.5%)
    • Contact suppliers who are currently not required (43.5%)
    • Move to source goods from local suppliers (45.6%)
    • Appoint additional suppliers to ensure continuity of goods (40.8%)

Tags/Keywords
covid-19,  pandemic
 
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