Hello.
Market fears over the risk of a global banking crisis are swirling, after Silicon Valley Bank collapsed and Credit Suisse’s shares took a plunge this week.
Would a stronger compliance culture have caught red flags earlier? Companies in crises drive home the message that risk and compliance cannot just be a box-ticking exercise to keep regulators satisfied, says Hugosave’s Julia Chin.
Another risk that needs to be understood and managed is, of course, in public health. Singapore just released a white paper reviewing its response to COVID-19.
While authorities acknowledged they could have managed the outbreak in migrant worker dormitories better, it is not easy to decide to what extent proven methods should be stuck to. Changing decisions based on new evidence is not weakness – it reflects deep understanding of science and a willingness to react accordingly, says Duke-NUS’ Khoo Yoong Khean.
An area Singapore did excel in is securing COVID-19 vaccines early: It is now one of the highest vaccinated populations with low COVID-19 mortality rates. Preparations are key to an “all-hazards” approach when, not if, the next pandemic hits, says Dr Chen Yanjun of International SOS.
On a lighter note, would you sue someone for friendzoning you, as a man did for S$3 million last month? Writer Vanessa Chan knows first-hand the pain of being romantically rejected by a close friend, but to her, staying friends is never the lesser option.
We hope you enjoy the selection of commentaries this week.
Erin Low
Commentary, CNA Digital
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