LGMS Executive Chairman Fong Choong-Fook hails tabling of Cybersecurity Bill

KUALA LUMPUR, March 25: Fong Choong-Fook, Executive Chairman of cybersecurity-based LGMS Berhad, says the tabling of Malaysia’s long-awaited Cybersecurity Bill in Parliament marks a critical milestone in our country’s commitment to safeguarding our digital frontiers in an era where digital transformation is at the heart of economic growth and national security.

The Cybersecurity Bill 2024, which aims to enhance national cybersecurity, was tabled for the first reading in Parliament today (March 25) by Digital Minister Gobind Singh Deo.

LGMS Berhad is one of Malaysia’s largest and leading cybersecurity groups and has long recognised the importance of a collaborative approach to enhancing Malaysia’s cyber resilience.

In a statement today, Fong said the legislative move, which is being championed by the National Cyber Security Agency (NACSA), epitomised the imperative need to fortify our national and economic security against the surging tide of cyber threats.

The tabling of Malaysia’s Cybersecurity Bill is a commendable step forward in the fight against cybercrime, he added.

Fong said the recent increase in cybersecurity incidents in Malaysia, mirroring a global uptrend, amplified the urgency for robust legal frameworks.

Cyberattacks, ranging from data breaches to ransomware, are criminal acts with the potential to undermine our national defence, economic stability and public safety, he said.

Fong said the Cybersecurity Bill’s focus on establishing and enforcing cybersecurity standards for the National Critical Information Infrastructure (NCII) entities was a proactive step towards mitigating these risks.

“Our close collaborations with key stakeholders – including NACSA, CyberSecurity Malaysia (CSM), and Malaysia Digital Economy Corporation (MDEC) – have been instrumental in developing a conducive cybersecurity ecosystem for both the public and private sectors,” he added..

In alignment with the national cybersecurity efforts and in support of the Cybersecurity Bill, LGMS together with CSM and MDEC will soon unveil the StarSentry platform, a groundbreaking ‘Made in Malaysia’ initiative born out of local research and development, with contributions from international experts.

StarSentry represents a significant leap forward in providing businesses with accessible, cutting-edge cybersecurity solutions, embodying Malaysia’s innovative spirit and our ambition to be a leader in the global digital economy.

Consequently, Fong said the StarSentry solution has been engineered to not only align with the stringent cybersecurity standards set forth by the forthcoming Cybersecurity Bill but also aims to exceed these benchmarks.

“This initiative manifests our proactive stance in safeguarding Malaysia’s digital infrastructure, demonstrating leadership in compliance and security best practices,” he said. “The platform incorporates advanced cybersecurity features that are designed to meet the rigorous requirements expected under the new legislation, ensuring that our clients are not just compliant, but are also at the forefront of cybersecurity defence.”