Singapore’s Beng Kuang Marine has disclosed a cybersecurity incident following a ransomware attack targeting an external IT service provider. In an August 19 filing with the Singapore Exchange, the infrastructure engineering and corrosion prevention company reported that the breach affected backend working files stored on the provider’s servers. The attack was identified when the provider noticed unusual activity and swiftly disconnected their network to contain the incident. Preliminary investigations have indicated that while data encryption occurred, there is no immediate evidence of data theft or exposure.
The ransomware attack resulted in encrypted data but did not compromise the primary security measures protecting Beng Kuang Marine’s own data. The company emphasized that its additional layers of security, including diverse systems and multiple IT vendor partnerships, played a crucial role in mitigating the impact of the incident. As a result, the overall effect on Beng Kuang Marine’s business operations was described as minimal, with operations continuing smoothly due to reliable backup systems.
Beng Kuang Marine has assured stakeholders that no evidence currently suggests that any sensitive data was stolen or compromised during the attack. The company’s proactive measures and resilience have been highlighted as key factors in maintaining operational continuity despite the security breach. The firm has committed to providing further updates should there be any significant developments related to the incident.
The ransomware attack on Beng Kuang Marine is part of a troubling trend affecting Singapore Exchange-listed firms this year. Other companies, including Soon Lian Holdings, Hiap Seng Industries, and several others, have reported similar incidents. As cybersecurity threats continue to evolve, organizations are increasingly focusing on strengthening their defenses and improving incident response strategies to safeguard against such attacks.
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