How Prepared are Malaysia Boards for Covid-19 Pandemic?
A recent poll conducted by the Institute Corporate Directors Malaysia (ICDM) has revealed that more than two-thirds of Malaysian companies (70%) have a Business Continuity Plan (BCP) or Crisis Management Plan (CMP) in place to deal with or mitigate the effect of the current Covid-19 crisis. On the other hand, the remaining companies are either in the process of developing and implementing their plans in response to Movement Control Order (MCO) or do not see the need to have one in place yet.
Of those with plans in place, only a small fraction of respondents have confidence in the effectiveness of their plans, whilst the other respondents acknowledged that the plans have areas of improvement or are inadequate in addressing the crisis impact to their business.
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