Page 67 - UBP - IR2020

MANAGEMENT APPROACH
Risk Category Risk Strategic Implication
Risk-Mitigating Actions
Completed Ongoing
Technological
& legal compliance and regulatory risks
Potential loss of data Objective 5
- Loss of valuable data and business reputation as well as potential legal implications - The Company embarked on
a a Data Protection Management Program (DPMP) in line with prevailing laws in view of safeguarding the personal data of its data subjects - Delocalisation of the data servers to a a a full- fledged registered data centre - The implementation of the DPMP within the Company - The DPMP is being extended to subsidiaries Financial
Adverse fluctuations in foreign exchange rates and rising local inflation All - The business units which are mainly exposed to forex risks
are Espace Maison Drymix and UBP’s engineering division - Forward buying of main currencies
- Holding excess funds in foreign currencies
- Well defined treasury management policies and agreements Decreased market demand due to the global pandemic All - - Reviewed short- term business strategy - Increased focus on
marketing and sales - Efficient financial management and budget reviews - Continued vigilance - - Cost-Cutting Plan UBP INTEGRATED REPORT 2020 - 67
FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS GOVERNANCE APPROACH
ABOUT US INTRODUCTION