MGM China has joined Sands China in announcing a program to help Macau’s small and medium-sized vendors get back on track in the wake of Typhoon Hato.
The company said it has conducted a survey of more than 220 of its SME vendors to assess the damage brought about by the category 10 storm in August. It has now drawn up a relief program to help reduce operating pressure.
The program consists of comprehensive measures that addresses short, mid and long-term needs of SMEs. The initiative includes: expedited payment processing and upfront payment to alleviate cash flow needs, logistics support and assistance with minor to major damages.
“Through our survey, we understand that over 60 percent of our SME vendors have suffered losses in this typhoon,” CEO Grant Bowie said in a release. “The government has been quick to respond to our local SME’s immediate needs, and therefore, we will utilize our collective pledge as additional support since the rebuilding will take time. Through the SME Relief Program, we are able to provide immediate assistance to our vendors, and continue in assisting them in the long-run of a sustainable recovery.”
Sands China has also announced a series of measure to support its SME vendors after the storm, which resulted in nine deaths and widespread destruction, leaving many without power or water for days.