Beng Kuang Marine recently experienced a cybersecurity incident following a ransomware attack targeting an external IT service provider. The exact timing of the attack remains undisclosed.
In a stock exchange announcement dated August 19, the company, which specializes in infrastructure engineering and corrosion prevention, revealed that some of its data stored on the provider’s servers were impacted. The compromised information largely consists of back-end operational files.
The IT service provider identified a breach in its server systems at an unspecified date and took immediate action by severing the network connection. Initial investigations suggest that the attack involved data encryption at an external level and included a ransom demand. Despite the technical breach, there is no evidence to suggest a data leak.
Beng Kuang Marine reassured stakeholders that an additional security layer protects its data, making it “highly unlikely” that any information was stolen. At this point, there is no indication that any data has been compromised or exposed.
The incident has had a minimal effect on Beng Kuang Marine’s business operations, as the company has been able to rely on backup data. The group’s strategy of employing diverse systems and partnering with multiple IT vendors has effectively mitigated risks and ensured operational resilience.
The company stated that it would provide further updates if any significant developments occur.
This incident is part of a broader trend of ransomware attacks affecting Singapore Exchange-listed companies this year. In July, Soon Lian Holdings and Hiap Seng Industries reported similar incidents. Earlier in the year, companies like YKGI, Jumbo Group, Aztech Global, IPS Securex Holdings, ES Group (Holdings), and RE&S Holdings also fell victim to ransomware attacks.
On August 19, shares of Beng Kuang Marine closed 0.5 cents lower, a decline of 2.13%, ending at 23 cents.
