AsiaCyberX (Asia Cybersecurity Exchange) Gives Malaysia’s Cybersecurity Landscape A Much-Needed Boost.
Every day is a field day for cyber crooks as cybercrime tools become more sophisticated and more readily available; however, this is not evident to us because many countries lack the legal provisions that require organisations to disclose cybersecurity incidents or data breaches.
This would also be the case in Malaysia, says Fong Choong Fook, CEO of LE Global Services Sdn Bhd (LGMS) and Founder of Asia Cybersecurity Exchange (AsiaCyberX). Fong shares his opinion on the cyberattack statistics in Malaysia, in which cybersecurity incidents are underreported due to the absence of such laws or regulations, subsequently making it difficult to plan and take proactive measures. In other words, as there is no law that requires an organization to report cyber security incident to the authorities, nobody really knows the severity of the situation.
“AsiaCyberX’s mission is to empower cyber entrepreneurs and grow cyber defenders with huge potential. With our training and mentorship programmes, we aim to elevate Malaysia’s cybersecurity ecosystem to a whole new level by strengthening the capabilities of local talent and entrepreneurs,” said Fong.
“A fund of RM200 million is up for grabs for cybersecurity start-ups with high-growth potential; the ultimate aim is to elevate Malaysia as a hub for cybersecurity entrepreneurship and talent. Let us know if you have a cybersecurity idea.”
ACE Holdings Berhad is a partner of LGMS Global, forming ACE Accelerator Network Sdn Bhd to advocate and support cyber security entrepreneurship, while also nurturing skilled cyber security professionals to meet the growing demand in this space.
ABOUT ACE HOLDINGS BERHAD
ACE Holdings Berhad is an investment holdings company and the ultimate parent to the entities in the ACE Group of Companies. Since 1992, ACE Holdings has built a reputation for pioneering innovative business models, opening up new markets and categories, and pursuing mutually beneficial collaborations with renowned multinational corporations. This is made possible by its vastly talented and experienced team, who are dedicated towards evaluating and carrying out investment strategies founded on five market sustainability pillars – high-growth enterprises, high-yielding capital market instruments, well-defined strategies, sophisticated financial modelling tools, and market innovations.