Malaysian, UK firms to collaborate to create regional cyber-security hub
KUALA LUMPUR, March 29 (Bernama) -- Malaysia has taken a tangible step toward becoming a recognised hub for cyber intelligence solutions following the signing of a landmark partnership agreement between Velum Labs Sdn Bhd (VLSB) and UK-based TriCIS Ltd recently.
The partnership agreement will see a Sapura Holdings Bhd subsidiary VLSB and TriCIS provide cyber security capabilities to governments and private sector clients across the region under a joint UK and Malaysia bilateral agreement.
VLSB is a leading home-grown cyber intelligence and cyber security company that provides enhanced cyber intelligence solutions derived from the market-leading understanding of the cyber-attack methodology.
TriCIS is a UK-based specialist in designing and engineering highly secure integrated solutions that meet the highest government and military security standards.
Sapura Group president and group chief executive officer (CEO) Tan Sri Shahril Shamsuddin said the company appreciates the trust and confidence TriCIS has placed in Velum Labs, making full use of its skill set and track record in the cyber security and cyber intelligence space.
"As we are managed and operated by local talent, this partnership reflects our Malaysian workforce's world-class capabilities and technical know-how.
"By joining forces with TriCIS, we can leap forward in innovation and out-of-the-box solutions that can place Malaysia at the forefront of sovereign telecommunications technology while meeting our country's need to create high-value jobs for its citizens," he said in a statement Wednesday.
With over four decades of experience, TriCIS is a trusted supplier to the United Kingdom's Ministry of Defence and the North Atlantic Treaty Organisation (Nato).
According to Mordor Intelligence, the global defence cybersecurity market was valued at US$16.22 billion in 2020 and is expected to reach US$28.53 billion by 2026, registering a compounded annual growth rate (CAGR) of approximately 10.51 per cent between 2021 and 2026.
The report also highlighted that Asia Pacific is the fastest-growing region for this market.
TriCIS CEO Antony Summerfield said the company is delighted to be working with VLSB as their technical know-how and software expertise in cyber security and cyber intelligence will prove invaluable in creating highly advanced solutions that can meet the defence and security needs of countries and industries in the region and across the world.
“We also look forward to leveraging Malaysia's talent and its close relationship with countries across the region to expand our presence within this fast-growing and dynamic market,” he said.
-- BERNAMA
