Business Times, 22 Feb 2008
THE terrorist threat facing businesses operating in South-east Asia is 'unique, complex and specific to the region', according to Lloyd's, the world's leading specialist insurance market, which also provides insurance cover against terrorism.
A new report from Lloyd's and the London-based International Institute for Strategic Studies (IISS), released yesterday in Singapore, warns that traditional forms of terrorism in Asia are being superseded by area-specific threats, such as criminal gangs with political agendas.
The report, entitled 'Terrorism in Asia: What does it mean for business?', outlines five practical steps businesses can take to minimise the threat from a terrorist attack:
1. gather high-quality information from the right sources - both government and academic
A new report from Lloyd's and the London-based International Institute for Strategic Studies (IISS), released yesterday in Singapore, warns that traditional forms of terrorism in Asia are being superseded by area-specific threats, such as criminal gangs with political agendas.
The report, entitled 'Terrorism in Asia: What does it mean for business?', outlines five practical steps businesses can take to minimise the threat from a terrorist attack:
1. gather high-quality information from the right sources - both government and academic
2. guide strategy and operations;
3. choose locations wisely
4. adopt security as business facilitator, not a burden;
5. protect supply chains; and
6. engage with local communities and understand local customs and traditions.
The report found that the main threat to businesses operating in South-east Asia are proximity to Western targets, such as embassies and hotels; kidnapping of employees; and threats to transport routes and supply chains.
Speaking at the launch of the report, Lloyd's chief executive officer Richard Ward said:
'There is no such thing as a uniform global threat, and in South-east Asia, businesses face some complex and specific regional issues. While there are fewer occurrences of Islamist terrorism in the area, criminal gangs with agendas are on the rise, with kidnappings and other forms of violent crime increasingly prevalent in some parts of the region.'
'Businesses need to be better at information gathering from the right source in order to focus on what they are actually threatened with, not reading the media headlines that usually focus on radicalism, and making decisions based on that,' he said.
3. choose locations wisely
4. adopt security as business facilitator, not a burden;
5. protect supply chains; and
6. engage with local communities and understand local customs and traditions.
The report found that the main threat to businesses operating in South-east Asia are proximity to Western targets, such as embassies and hotels; kidnapping of employees; and threats to transport routes and supply chains.
Speaking at the launch of the report, Lloyd's chief executive officer Richard Ward said:
'There is no such thing as a uniform global threat, and in South-east Asia, businesses face some complex and specific regional issues. While there are fewer occurrences of Islamist terrorism in the area, criminal gangs with agendas are on the rise, with kidnappings and other forms of violent crime increasingly prevalent in some parts of the region.'
'Businesses need to be better at information gathering from the right source in order to focus on what they are actually threatened with, not reading the media headlines that usually focus on radicalism, and making decisions based on that,' he said.
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