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Risk Management in Singapore

Risk Management in Singapore

Updated on Tuesday 15th March 2016

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Risk-management-in-SingaporeRisk Management Regulations in Singapore

Risk management in Singapore can be defined as a set of actions meant to measure, identify and evaluate a series of risks. Singapore also has a legislation covering risk management with the respect to the workplace, such as discrimination and harassment. Risk management does not apply only according to the above mentioned law, but in Singapore it also covers the senior management of companies who must assess the economic impact certain actions could have on the company. Risk assessment is also present in the activities of insurance companies.

In order to avoid problems, the management of a Singapore company must assess all possibilities that could affect the business’ activities. Our Singapore lawyers can assist companies in verifying important aspects of:

  • -       complying with the Competition Law in order to make sure its provisions are not broken;
  • -       contractual clauses that could lead to a possible commercial dispute;
  • -       corporate governance issues.

Our law firm in Singapore can provide you with more information about the Risk Management Regulations.

Carrying out risk assessments in Singapore

Risk assessments are crucial for the wellbeing of a Singapore company and should be conducted for all types of activities. Risk assessment in Singapore covers the following:

  • -          preliminary work and troubleshooting for day-to-day operations;
  • -          repair and maintenance risk assessment for extraordinary operations;
  • -          identification of possible hazards.

Whether hiring specialized personnel to conduct risk assessments or appealing to the services of professionals, carrying out this type of operations are more and more common among Singapore companies.

Legal advice on risk management provided by our lawyers in Singapore

With a vast experience in corporate legislation, our lawyers in Singapore can advise clients on the following risk management matters:

  • -          the interruption of business;
  • -          commercial litigation;
  • -          compliance of competition regulations;
  • -          corporate governance;
  • -          data protection;
  • -          discrimination;
  • -          harassment;
  • -          compliance of the environmental legislation;
  • -          fraud;
  • -          workplace health and safety issues;
  • -          product safety;
  • -          operational risk;
  • -          credit risk;
  • -          regulatory compliance;
  • -          advice on the best course of action to follow.

Our Singapore attorneys also offer legal assistance in risk management related to insurance activities.

For a complete list of all services related to risk management provided by our Singapore law firm, do not hesitate to contact us.