[SINGAPORE] Companies from Singapore that operate in Myanmar and Thailand said that operations have been largely unaffected by the severe earthquake that occurred in the region on Friday (Mar 28).
The earthquake, which had its epicentre close to the city of Mandalay in Myanmar, was one of the strongest in the South-east Asian nation in a century.
Shocks were also felt in parts of neighbouring Thailand, and caused a skyscraper under construction in Bangkok to collapse.
In Thailand, which UOB considers as one of its key markets, all employees of UOB Thailand were accounted for with no reported injuries. The bank will implement a staff assistance programme to support affected colleagues.
UOB told The Business Times that it confirmed that its core premises, including headquarters UOB Plaza Bangkok, were structurally safe, while leased offices and in-mall branches were deemed safe by landlords, amid ongoing inspections.
Meanwhile, most of its branches and contact centres resumed operations on Saturday. Two branches that were temporarily closed for additional checks are to reopen by Mar 31.
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Critical operations – which includes wholesale settlements, cheque clearing, foreign exchange transactions and regulatory reporting – were completed; both primary and secondary data centres also remain fully operational, UOB said.
“This was a real test of readiness, and our teams responded with calm and coordination,” said UOB Thailand president and CEO Richard Maloney. “Looking ahead, we are reviewing our learnings from this event to further strengthen our resilience and preparedness.”
Law firm Rajah and Tann, which has offices in Bangkok and Yangon, noted that all its staff were evacuated safely on Friday.
Meanwhile, Singapore-listed Myanmar conglomerate Yoma Strategic said all its staff are safe and accounted for, with only a few reporting minor injuries.
Some properties related to its core business operations sustained minor damage, but damage in Yangon – where the company deals in real estate – was limited, said a spokesperson.
But Yoma Strategic expects to experience short-term disruptions at its other businesses, including Wave Money and Yoma F&B, due to the earthquake’s impact on critical infrastructure.
On Saturday, Frasers Property told The Business Times that all its hospitality properties and malls, including One Bangkok, have resumed operations.
The property player said detailed inspections of its buildings are in progress; and confirmed that all its employees in Bangkok are safe.
The company, which owns and operates hospitality and commercial assets in Bangkok and recently opened a mega mixed development in the Thai capital, said it is “closely monitoring the aftermath of the earthquake in Myanmar and its impact on Thailand”.
Latest reports estimated that at least 1,700 people have been killed and 3,400 injured in Myanmar.
Meanwhile, at least 18 people were killed and 33 injured in Bangkok, Thai officials said. Some 78 people remained missing, with most believed to be trapped under the collapsed building.
