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This blog is brought to you by Gilbert & Samuels Company Limited, a financial advisory services and consulting company based in Suva, Fiji.
To contact the authors of this blog, please call telephones (679) 3342719, (679) 3544897 or e-mail info@gilbert.com.fj.


Thursday, March 27, 2008

Colonial Fire and Importance of Contingency Plans

There was a fire at Colonial Fiji's IT and backoffice sections early Tuesday morning, 25 February 2008. Customers have said that the bank's ATMs were not working when they tried to make withdrawals.

Colonial had said that the Group had moved all staff to other locations and was working on assessing the damages caused.

Fires and other catastrophes emphasise the need for businesses to have Contingency Plans in place and if they are in place, to ensure that those plans work in the event of a real contingency.

Regulators will need to ensure that financial institutions have Contingency Plans in place.

It was fortunate that the fire was only confined to one part of a financial institution. Imagine the consequences to the financial sector if the fire had covered the entire central business district where most of our banks operate from?

I had mentioned in my earlier post that our business was working on a Contingency Planning Model which is to be used to develop Contingency and Business Continuity/Resumption Plans for clients. If you are interested, pls send an e-mail to investinfiji@gilbert.com.fj or info@gilbert.com.fj.

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Sunday, March 23, 2008

Expansion of our services

We have been busy over the last two months completing Strategic Plans for the Fiji National Provident Fund and Amalgamated Telecom Holdings Limited.

Fiji National Provident Fund is the largest player in Fiji's financial system and has total asset of over F$3 billion, making up around 38% of total financial system assets.

Amalgamated Telecom Holdings Limited is the holding company for Telecom Fiji Limited and owns a part of Vodafone Fiji Limited. It has management rights over FINTEL.

Over February 2008, we were working on preparing a capacity development plan for a UNAIDS project in the South Pacific. The work included preparing for and facilitating a regional workshop held at Denarau, Fiji. That work has also been completed with the Report submitted to UNAIDS.

Currently, we are developing a Contingency Planning or Business Resumption Planning Model. Similar to our Strategic Planning Model, we will use our Contingency Planning Model to develop Contingency Planning/Business Resumption Plans for clients.

For more information on our services, pls e-mail info@gilbert.com.fj or call telephones (679) 3396427 or (679) 9921427.

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