In Malaysia, Outbreak of Fire is often neglected by Business Owners.
of Business Owners in Malaysia think that:
Fire Break Out will only cost minor damages to their property
Or
The Possibility of Fire Break Out is unlikely to happen
But, Do You Know?
Fire & Explosion is ONE of the TOP 10 Risks Dispruting Business Operations.
Fire & Explosion are the top causes of business interruption that businesses fear the most.
And Do You Know?
In Malaysia, 50K+ of fire accidents were recorded in 2019. This amounted to RM 4.4 billions of total losses, with almost 70% of the cases involving factories.
While 80% of businesses fail within 18 months after fire accidents
This is because Fire Accidents does not only cost minor damages to properties.
But instead will cause:
Major Damage to Properties & Goods
whole factory burned down together with goods
Which will lead to a Beach of Supplier Contract
Unable to deliver supplies as promised.
And Result in Major Loss of Cash Flow
Restoration Fees, Pay Out Salary, Lost Revenue
Your Company Team is at the risk of Dismissal
Inaccessible premises where the premises are necessary for business activities.
Worst Case Scenario: Bankruptcy
Here's an actual case study:
Philadephia Energy Solution Company (PES) goes bankrupt AGAIN in 1.5 years because of a Single Fire Breakout.
PES has reached an agreement with lenders for $100 million to finance their first Bankruptcy but unfortunately a Single Fire Break Out causes their second bankruptcy and their falldown.
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Here at MQ we provide professional checking for your Fire Insurance Policy and Coverage as well as planning the next step for your safety.
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