Y2K Update: Asia

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

I believe these story are near the previous story....

http://www.currents.net/newstoday/99/05/29/news1.html No New Year Holiday For Far East Bank On Y2K Phillipines By Jennifer B Malapitan, Metropolitan Computer Times.

All personnel at the Far East Bank and Trust Company (FEBTC) are required to report for work on January 1, 2000, New Year's day, and January 2, 2000. This is part of the Bank's contingency plan for its year 2000 (Y2K) project.

For many enterprises and business establishments, the actual millennium rollover from December 31, 1999, to January 1, 2000, will comprise the actual stress test of their computer-controlled systems.

While this is not necessarily true for banks, which have been ahead of the whole exercise compared to other industries, nobody can rule out minor glitches that could possibly impact their normal operations.

Contingency planning is also necessary in the event of a power failure or breakdown of the telecommunications network that provides the backbone for a bank's voice and data communications network.

FEBTC's homegrown applications, including Loans and General Ledger are now Y2K-ready. The bank is just waiting for vendors to complete Y2K work on packaged applications such as Systematics. The Bangko Sentral ng Pilipinas has set June as a deadline for the local banks' internal systems to be Y2K-ready.

FEBTC started its Y2K project in January 1997, with 55 programmers working on a total of 182 systems that run on an IBM mainframe. With the project approaching its end, Josephine Gentolea of FEBTC's Y2K Project, said the company has already downsized its programming team to only 11.

Earlier, BSP's Ma. Dolores Yuviengco pointed out that local banks will have to consider the option of opening some of their branches during that weekend to attend to any problems that may be encountered by their clients.


Singapore Y2K Confidence Higher Than Action By Adam Creed, Newsbytes.

Singapore's National Computer Board (NCB) has released the results of its latest Y2K survey of small and medium-sized enterprises (SMEs), showing high awareness of the work needing to be done, but showing 27 percent of companies do not expect to complete conversion programs by the end of the year.

The survey of 467 companies found awareness running high, with around 90 percent acknowledging Y2K as a problem that applied to their business.

Confident that they could get all the work done in the remaining time, 73 percent of SMEs reported their business would be Y2K-ready by the end of the year. However, in February only 35 percent of companies had fully completed their Y2K programs.

Worryingly, of the 27 percent of SMEs that either had done nothing or had no plans, 74 percent believed their business would not be affected by the Year 2000 date change.

Contingency plans, the next business stage after completing Y2K conversion, had been developed by 43 percent of all companies surveyed. Of the 57 percent who had not drawn one up, 70 percent said they did not need a contingency plan, 15 percent said they would complete one before the end of the year and 9 percent said they had no knowledge of Y2K contingency planning.

"Although the NCB National Y2K Survey indicates that awareness among SMEs is high, we will continue to push for Y2K action by collaborating with the various trade associations," said Michael Yap, chief executive, NCB. "We will monitor the progress, and for some SMEs that need help, we will continue to reach out to them."

-- y2k dave (xsdaa111@hotmail.com), May 29, 1999


I have noticed in the SEC Filings this kind of statement;

>FEBTC's homegrown applications, including Loans and General Ledger are now Y2K-ready.

Y2K Ready? This is a vague statement eh? To me this means that the function can be done with pencil and paper :o)


Form 10-K --------------- BankAmerica Corporation (Exact name of registrant as specified in its charter) Snip

In the compliance phase, the Corporation internally certifies the Systems/Projects and Infrastructure that are Year 2000 ready and implements processes to enable these Systems/Projects and Infrastructure to continue to identify and process dates accurately through the Year 2000 and thereafter.


Strange. Why not use compliant rather than ready if the systems are fixed. As these statements have the lawyers all over them this wouldn't be a mistake. ?????? Would it ????

-- Brian (imager@home.com), May 29, 1999.

Moderation questions? read the FAQ