Image (Network World) - Security services
Following a partnership agreement between Malaysian and Singaporean companies, a new joint venture will offer cyber security, homeland security, and security consultancy services in Malaysia.
Citing national ICT agency CyberSecurity Malaysia's prediction that the cybersecurity industry in Malaysia will grow to RM8.8 (U$2.2) billion by 2020, Malaysia's Bursa-listed company Willowglen MSC and Singapore's Secura Group have formed the new Secura Malaysia entity.
Under the agreement, each parent company holds 50 percent of the issued share capital of the new venture, said the partners.
Paul Lim, chief executive officer of Secura said, "[The Malaysian partner Willowglen has 30 years of experience in the SCADA [supervisory control and data acquisition], security and IT market in Malaysia."
Willowglen pioneered the research and development of integrated SCADA, security & information technology solutions in Malaysia. SCADA system is a remote monitoring and control system used in various industries such as water and power utilities, oil and gas production and distribution, buildings and facilities, security, transport, telecommunication and IT.
Lim said, "Willowglen's technologies and products complement our core businesses and will further enhance our capabilities in cyber security, homeland security and integrated security solutions. This strategic collaboration will also enable us to expand our presence in the security market in Malaysia, particularly in the cyber security space where we see tremendous growth potential."
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