Latest news with #BusinessContinuityPlan
GMA Network
22-05-2025
- Business
- GMA Network
SM Supermalls empowers MSMEs' future through inclusive resilience
Micro, small, and medium enterprise (MSME) tenants and Department of Trade and Industry (DTI)-supported entrepreneurs gear up for resilience through SM Supermalls' nationwide Business Continuity Plan workshops. SM Supermalls champions resilience as a shared responsibility, empowering communities and micro, small, and medium enterprise (MSME) tenants nationwide. For SM Supermalls, resilience remains an essential pillar in its pursuit of sustainability. Without safe, secure, and prepared communities, the vision of sustainable development becomes difficult to achieve. This is why the company believes that promoting resilience is not only a matter of operational readiness but a responsibility to the communities and businesses that form the backbone of the economy. At the heart of this commitment are micro, small, and medium enterprises (MSMEs). These businesses are often the most vulnerable to disruptions brought about by natural and man-made hazards. Yet, they represent a critical force in the national economy---generating jobs, driving local commerce, and sustaining livelihoods. Recognizing their importance, SM Supermalls has made it a priority to help cultivate an MSME sector that is resilient. Across its network, close to 70 percent of SM Supermalls' tenants are currently MSMEs. These businesses operate under unique lessee contracts that acknowledge their specific needs and challenges. To support them, SM not only provides space but also promotes an environment that values preparedness and long-term continuity. Beyond providing retail spaces, SM Supermalls promotes micro, small, and medium enterprise (MSME) resilience through emergency drills and dedicated Business Continuity Planning (BCP) initiatives. SM Supermalls' most notable resilience initiative for its MSME tenants is a dedicated Business Continuity Planning (BCP) program launched in 2024. This capacity-building initiative enables businesses to develop tailored Business Continuity Plans and implement adaptive measures to reduce the impact of disruptions. SM's tenants are each provided with free access to 5GB of remote digital storage where they can securely store critical business documents such as their BCPs, permits, registrations, and insurance policies, among others. In the event of a disaster, access to these documents becomes seamless, allowing faster processing of insurance claims and a quicker return to operations. To further scale its impact, SM Supermalls established a public-private partnership with the Department of Trade and Industry (DTI), formalized through a Memorandum of Agreement in 2024. Together with ARISE Philippines, a United Nations Office for Disaster Risk Reduction (UNDRR)-affiliated private sector alliance for disaster resilience, the partnership aims to ensure that 6,000 MSMEs have robust BCPs by the end of 2027. Business continuity subject matter experts guide micro, small, and medium enterprises (MSMEs) in crafting their own Business Continuity Plans (BCPs) for their company. The Department of Trade and Industry (DTI) - Bureau of Small Medium Enterprise Development and SM Supermalls representatives join together in disaster risk resilience awareness and business continuity for micro, small and medium enterprises. This collaboration is led by DTI Regional Operations Group Undersecretary Blesila Lantayonaand Bureau of Small Medium Enterprise Development (BSMED) Director Emma Asusano, alongside SM Supermalls' Corporate Resilience Department. The shared goal is clear: to safeguard MSMEs nationwide through proactive preparedness. One key feature of the initiative is the SM-DTI Calamity Recovery (CARE) Booth, activated during times of calamity. Located in malls with communities impacted by disasters, the booth serves as an accessible touchpoint for MSMEs needing post-disaster support---providing a practical and timely response mechanism that bridges the gap between public resources and private needs. Additionally, SM Supermalls regularly hosts scheduled BCP workshops for MSMEs in collaboration with DTI. These workshops are conducted in centralized SM locations across various regions and are open to both SM tenants and DTI-assisted MSMEs. During these sessions, business owners are introduced to the various risks posed by different types of disasters and are guided step-by-step in developing their own BCPs. These plans are tailored to the unique nature and geographical location of their operations, and the sessions extend to the BCP testing and validation phase to ensure practical application and effectiveness. The participants are given one month to finalize their BCPs, which must be approved by their business management and submitted to DTI. Since the program's launch in September 2024, over 1,500 MSMEs have already undergone training, with more scheduled in the months ahead. 'Resilience is not built overnight, and requires education, commitment, and collaboration across different sectors. Knowing this, SM Supermalls continues to invest in long-term resilience not just for its business, but for the broader ecosystem of MSMEs it supports,' said SM Supermalls President Steven Tan. 'In doing so, we are reinforcing the fundamental truth that sustainable progress is only possible when communities and businesses are prepared to face the challenges of tomorrow.' The article above is a sponsored press release from SM Prime Holdings.
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Business Standard
14-05-2025
- Business
- Business Standard
Groww Invest Tech pays Rs 47.85L to Sebi, settles regulatory lapses case
Groww Invest Tech on Wednesday settled a case pertaining to the alleged violation of stock brokers' rules and other norms after the online investing platform paid Rs 47.85 lakh towards settlement amount. The order came after the broking company filed an application with Sebi "without admitting or denying the facts and conclusion of law", through a settlement order. "In view of the acceptance of the settlement terms, the adjudication proceedings initiated against applicant vide SCN dated November 25, 2024 is disposed of," Sebi's Adjudicating Officer Amit Kapoor said. The case stemmed from a comprehensive inspection of Groww Invest Tech (formerly Nextbillion Technology Pvt Ltd). The Securities and Exchange Board of India (Sebi) alleged that Groww had violated multiple provisions of the securities contracts (regulation), several Sebi circulars and stock broker regulations. Among the lapses cited, the regulator observed that the applicant (Groww Invest Tech) had sent retention statement containing incorrect information to clients viz. discrepancy in financial ledger balance and margin obligation in 38 instances. The markets watchdog also flagged Groww for offering non-securities services such as UPI payments and bill payments through its trading app, which could expose users to financial liability, the order said. Further, Sebi found that Groww's Business Continuity Plan was being reviewed annually instead of the mandated half-yearly frequency. Inadequacies were also noted in the firm's surveillance framework, particularly in analysing client trades based on financial capacity and updating income details, as per the order. Thereafter, a show cause notice was issued by the regulator to Groww Invest Tech for the alleged violations on November 25, 2024. Pursuant to the receipt of the settlement application, Groww filed revised settlement terms, which was cleared by Sebi. After remitting the settlement fee of Rs 47.85 lakh, Groww settled the case with Sebi. However, Sebi has reserved the right to reopen the case if it finds that the company did not make full disclosures or breached the settlement terms. On Tuesday, Groww Invest Tech settled with markets watchdog Sebi a matter related to alleged failure to handle a technical glitch in January 2024 by paying Rs 34.12 lakh.
Observer
16-03-2025
- Business
- Observer
MoUs signed to strengthen Oman's digital future
MUSCAT: The Sultanate of Oman's premier provider of managed cybersecurity and cloud solutions,Oman Data Park (ODP), announced the signing of three strategic Memorandums of Understanding (MoUs) recently. The agreements, signed with First Abu Dhabi Bank (FAB), Oman National Energy Investment Company (ONIEC), and NTG, mark a significant step toward advancing Oman's digital transformation across the banking, energy, and cloud services sectors. ng Maqbool al Wahaibi, CEO of ODP, stated, 'These partnerships reflect ODP's unwavering commitment to empowering organizations with secure, scalable, and cutting-edge cloud solutions. Whether in banking, energy, or enterprise technology, our mission is to equip businesses with the digital infrastructure they need to operate seamlessly and innovate confidently. By continuously investing in next-generation technologies and fostering strategic alliances, ODP is shaping a more resilient, efficient, and technology-driven future for Oman.' As part of its commitment to ensuring business continuity in the financial sector, ODP has signed an MoU with First Abu Dhabi Bank (FAB) to establish a state-of-the-art Disaster Recovery (DR) site at ODP's highly secure Tier 3 data center. This partnership ensures that FAB's critical data and systems remain protected against potential disruptions, reinforcing the bank's ability to maintain seamless operations under all circumstances. Beyond the DR site, ODP is also developing a comprehensive Business Continuity Plan (BCP) Centre for FAB, allowing the bank to quickly transition its operations in case of an unexpected crisis. This initiative strengthens operational resilience, enabling FAB to maintain service uptime and regulatory compliance while ensuring uninterrupted financial services for its customers. In line with Oman's national sustainability goals, ODP has entered a strategic collaboration with Oman National Engineering and Investment Company (ONEIC) to host a smart metering solution on its advanced cloud platform. This national-level project aims to revolutionize energy consumption monitoring across Oman by enabling real-time remote management of energy usage. By leveraging ODP's secure and scalable cloud technology, ONEIC will gain advanced capabilities in energy monitoring and data analytics, driving enhanced efficiency and sustainability in power consumption. This initiative marks a significant step in modernizing Oman's energy infrastructure and supports the country's vision for a smarter, greener future. Further strengthening its role as a digital enabler, ODP has signed an MoU with NTG to formalize a Reseller Agreement for Oracle Cloud Infrastructure (OCI) products. Through this partnership, NTG will serve as a front for ODP, offering OCI solutions directly to businesses across Oman. By expanding access to world-class cloud computing services, this collaboration will accelerate cloud adoption and digital transformation across various industries, empowering organizations with cutting-edge cloud capabilities. The initiative aligns with Oman's broader efforts to enhance digital infrastructure and boost business agility in an increasingly tech-driven economy.
