Moving Train

A Tricky Road in Managing Corporate Risk

Amos Law (Director, Risk Advisory)
Moving Train

These are exciting times for business on a global scale, where the speed of transactions and the sheer volume of demand and supply can lead to unprecedented levels of growth for any company. The global platform is also an excellent indicator of where a company stands in terms of competitiveness, diligence, and overall performance, where international high standards are visible for all to see. However, globalisation can also become a double-edged sword when things go wrong — considering the speed at which things happen, where news of negative events can spread over social media and be blown out of proportion before one realizes it.

Take Starbucks, for example, which generated a lot of controversy when it made its employees undergo sensitivity training. Another big company that made the headlines was Nestlé which had to deal with the aftermath of news revelations that its seafood operations in Thailand made use of modern slave labour. Malaysian companies are not exempt from this problem, with the likes of IJM Corp Bhd and 1Malaysia Development Bhd (1MDB) receiving a run of bad publicity over bauxite mining and Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) breaches respectively. READ MORE >>>

 

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