SSIA has conducted an Industry Pulse Survey in February 2020 on the precautionary measures taken by companies in this industry amidst the COVID-19 outbreak. More than fifty companies representing both multinational companies (MNCs) and small and medium-sized enterprises (SMEs) in the semiconductor space in Singapore have participated. The results of the survey have been shared with interested news media and government agencies. Questions of the survey covered the business continuity plans (BCP) and preventive measures taken by the companies (e.g. how often the staff are informed of the updates on novel coronavirus, implementation of daily temperature, deferring travel plans, execution of team segregation, etc.) and the impact of the COVID-19 outbreak on business.
Topline Findings of the Survey
1. Almost all companies participating in the pulse survey have put up different precautionary measures e.g. daily temperature checks, deferring travel plans and even team segregation. Most importantly, they have mostly kept their staff informed on the COVID-19 situation, activated their BCP, and were managing their daily operations the best they could.
2. Close to 70% of the respondent said that this outbreak affected their business, mainly in the areas of staff deployment in operations and drop in business related to China.
3. Around 10% said there is an impact on the supply chain from China, mainly due to concern on supply shortage or delivery delay from China suppliers.
4. Most companies agree that it is too early to assess the impact, and will need to wait and see the situation in the coming weeks, and finally to understand to what degree the impact could be to their business. “SSIA encourages companies who have not activated their BCP to start planning for it before the situation gets out of control. Companies could follow the BCP guide published by Enterprise Singapore and supported by Singapore Business Federation,” said Ang Wee Seng, SSIA Executive Director.