Professional services firm, KPMG in Bahrain, is gearing up to host an online awareness webinar to highlight the impact of the Covid-19 pandemic on the profitability of family businesses and discuss the potential benefits Financial Restructuring could provide towards building the required resilience within the marketplace.
The impact of the COVID-19 outbreak is evident across all economic sectors in Bahrain and worldwide. In 2020, we witnessed what is considered to be the largest health and economic crisis in our modern age and many organizations have had to take extraordinary measures to comply with the governments’ precautionary measures to control the spread of the virus and to protect all their stakeholders alike. In most cases, this has had a significant negative impact on operations, revenues and financials within the marketplace. With the supply of vaccinations underway, 2021 is likely to be the year when the world gradually transitions towards a new norm. This also means that organizations will need to develop their future readiness to ensure that they can endure the impact from the COVID-19 pandemic over the medium to long term.
The webinar themed “Financial restructuring for resilience”, is scheduled to be held on (Wednesday) 24 February 2021 and will provide practical advice, best practices, updates on the current market trends and potential steps on how to reduce and overcome the financial distress caused by the impact from the Covid-19 pandemic.
The webinar will be an ideal platform for business owners, entrepreneurs, finance professionals of family businesses and owner managed businesses, across all sectors in Bahrain to learn more about the potential challenges that may impact the marketplace in the medium to long term. While covering the fundamentals of restructuring during a moment of crisis, the webinar will also highlight the key success factors in terms of financial and operational restructuring, challenges and strategies business leaders can leverage as they evolve during their journey towards recovery.
Anshul Deobhakta, Advisory Director at KPMG in Bahrain commented on the upcoming event: “If health is wealth, then bankruptcy is death. If an event of liquidation is played out, everyone is a loser. Therefore, I encourage business leaders in Bahrain to attend the online event to learn more about the role of financial restructuring in improving business resilience and continuity.”
The webinar will also feature insights from Ali AlMahroos, Corporate Services Lead at KPMG Bahrain to cover the regulatory updates that businesses need to be aware of while they consider restructuring their organization.
KPMG in Bahrain is a member firm of KPMG international. The firm was established in 1968 as the first national accounting and auditing firm, and it has grown to be one of the largest professional services firms in the Kingdom. The firm provides Audit, Tax and Advisory services to a wide array of clients operating in different sectors, by utilizing the in-depth technical and industry experience of its professional staff.
KPMG firms operate in 145 countries and territories, collectively employing more than 227,000 people, serving the needs of business, governments, public-sector agencies, not-for-profits and through KPMG firms’ audit and assurance practices, the capital markets. KPMG is committed to quality and service excellence in all that we do, bringing our best to clients and earning the public’s trust through our actions and behaviours both professionally and personally.