With the global pandemic accelerating digitalization, Malaysia has set its sights on its digital economy, contributing 22.6% to its gross domestic product and creating 500,000 new jobs by 2025 as part of its Digital Transformation.
As part of its Digital Transformation, the country is investing in the rapidly growing Information and Communication Technology (ICT) market, which is expected to grow from USD 16.5 billion in 2019 to an estimated USD 25.2 billion in 2023.
A key driver of ICT growth will be increased digitization of processes across all major industrial sectors, including investment in connectivity, security, satellite broadband, digital infrastructure for buildings, 5G ecosystems and intelligent automation. Accordingly, Malaysian organizations are exploring new partnership opportunities to fill technical needs like data systems integrations, big data analytics and cybersecurity.
Cybersecurity is a key pillar in Malaysia’s Digital Transformation, especially around its investment in the ICT market. For critical industrial sectors like the Aerospace & Defense (A&D) segment, the need for these technical partnerships is essential to advance its digitalization and secure them with the right technical skills and threat intelligence technologies.
The growing role of cybersecurity in the ICT market
Malaysia has been referred to as a ‘quiet leader in cybersecurity. While the Global Cybersecurity Index reported Malaysia having strengths in cybersecurity policies and international alliances, it also noted shortcomings in its cyber defense capabilities. Accordingly, the country is amping up its technical infrastructure, cyber defense skills and digital ecosystem visibility to combat the increased cyber threats that will come with its ICT growth.
“Malaysian organizations should expect to see an increased focus and requirements regarding cybersecurity and threat intelligence as the country invests in the ICT market. Specifically, this type of threat intelligence will be critical for Malaysia’s law enforcement, military and defense sectors as they also prepare for the increase of cyberattacks that will come with the country’s digitization,” said Christian Lees, Chief Technology Officer (CTO) at Resecurity Inc, U.S.-based cybersecurity and intelligence company protecting Fortune 100 companies globally.
Today, the Malaysian government’s ICT cybersecurity laws and policies are still being drafted, revised, and reviewed to align with regional and international standards. However, Malaysian law enforcement and defense organizations are already investigating cyber threat intelligence partners that can improve detection and response time, monitor real-time cyber threats and increase visibility across their digital ecosystems.
“Like many countries who have invested in digitalization, Malaysia will have to arm their defense sector with tools that allow them to identify and respond to cyber threats quickly to protect the nation. Two areas of focus we’ve seen with defense organizations: Dark Web monitoring to protect critical ICT and national IT ecosystems and digital forensic and threat actor tracking capabilities to investigate crimes involving cryptocurrencies,” said Mr. Lees.
Fostering threat intelligence partnerships in Malaysia
The topic of international partnerships, threat intelligence and cybersecurity in Malaysia was prominent at this year’s Defence and Homeland Security show Defence Service Asia Exhibition and Conference (DSA) hosted by the Ministry of Defence and Ministry of Home Affairs.
Held March 28-31 at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, DSA 2022 was one of the biggest Defence and Homeland Security shows in Asia, showcasing the world’s most advanced technologies, systems, hardware and electronic warfare that the market has to offer. The event brought together 380 VIP delegations (foreign and local) and 1,096 companies from 49 countries to share best practices and cultivate commercial partnerships.
Resecurity Inc. showcased its cyber threat intelligence and digital risk monitoring solutions-oriented in the Aerospace & Defense (A&D) segment. Particularly how Resecurity’s AI-powered cybersecurity and threat intelligence solutions enable law enforcement and defense to better detect, mitigate and respond to technology and geographical risks within an organization’s security ecosystem.
“It was exciting to meet our clients from Malaysia and APAC, alongside meetings with law enforcement partners from over 18 countries that visited our booth. This type of interest and discussion only confirms cyber threat intelligence will play an increasingly critical role in the defense sector moving forward,” said Mr. Lees.
Beyond traditional defense and military solutions, delegates and attendees of the show were explicitly interested in secure cloud computing for the Internet of Things, cybersecurity, big data analytics and how cyber threat intelligence products, like Resecurity’s, could be applied to protect the IT ecosystem of large enterprises and government agencies from the emerging threats.
Other exhibitors included significant defense contractors and technology companies like Aselsan A.Ş. (Turkey), Daher (France), Elettronica (Italy), IPS (Italy), Fincantieri (Italy), L3HARRIS (USA), LEONARDO (Italy), Northrop Grumman Corporation (USA), Thales (France), Telenor Maritime (Norway), Turkish Aerospace Industries (Turkey). Looking ahead, cybersecurity and threat intelligence partnerships formed at the event will become more important as Malaysia invests in its ICT market and Digital Transformation.
“The role of cyber threat intelligence and effective digital risk management is the key to making our digital future safe. Resecurity is committed to driving innovative cybersecurity technologies and protecting Fortune 100 companies and government agencies from cybercriminals and nation-state actors worldwide,” said Mr. Lees.
