Page 84 - CJ 2019 INTEGRATED REPORT

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RISK MANAGEMENT
Risks Relating to our Businesses and Industry
Description & Risk Context
Our aim is to maintain the appropriate health and and and safety standards for our guests and employees However there is is a a a a a a a a a risk that the the outbreak of an an an epidemic occurs and and seriously harms our guests and and employees leading to a a a a a a a a a a a possible halt in operations Constant changes and and evolutions in in in in market conditions on on on on on on on the the local and and international front are affffecting the the industry The company remains extremely sensitive to those changes The most signifificant risks emerging from these changes are as follows:
• New customer expectations and behaviours • Presence of disruptive new players such as Airbnb • Traditional competing destinations are becoming more attractive Unfavourable market conditions resulting in in lower demand for products The development of of the the freehold property adjoining the the hotel which currently consists of of villas and apartments is is being planned in a a a phased manner Consequently we are exposed to the following risks:
• Cost overrun during the construction phase • Non-delivery of a a a a quality end product by our contractors/ subcontractors • Delay in completion 18 Health and Safety risk 19 Market changes and competition
20 Estates (villas) project risks 21 Construction risks OPERATIONAL EFFICIENCY BUSINESS PORTFOLIO MANAGEMENT
MANAGEMENT
FINANCIAL RISK MANAGEMENT
MANAGEMENT
SUSTAINABILITY FOCUS
CURRIMJEE JEEWANJEE AND COMPANY LIMITED