Cyber security firms welcome in Singapore
Minister Teo Chee Hean says such companies can tap the Republic's resources
Global cyber security companies - large and small - that set up base in Singapore to grow their businesses and capabilities can tap the Republic's technical prowess, skilled manpower and networks, Senior Minister Teo Chee Hean said yesterday.
Mr Teo, who is also Coordinating Minister for National Security, added that these companies can use Singapore's global networks for cross-border collaboration, which is crucial for cyber security, given how it is an international field.
He was speaking at the opening of the Kallang global headquarters of Ensign InfoSecurity, a cyber security company formed last year by local telco StarHub and Singapore's investment company Temasek.
He said: "We welcome foreign cyber security players to offer their services in Singapore or use Singapore as a base to service the region. There is potential to work together by tapping our human capital, technical expertise, networks and understanding of our region."
Mr Teo held up Ensign as an example of a company that has seized such opportunities.
He noted the company is tapping Temasek's networks to collaborate with several global cyber security companies such as Sygnia, Claroty and IronNet to develop cutting-edge cyber security solutions.
"People, innovation and collaboration are crucial to building world-class cyber security capabilities that we need here in Singapore, and can become new business here. I am glad that Ensign has made efforts on these three fronts," he said.
In a statement yesterday, Ensign, which offers online security solutions to companies and governments worldwide, announced plans to increase its staff strength by 100 by next year.
The company had set up a Singapore-focused security operations centre for its employees to detect and neutralise cyberthreats here faster and more accurately.
Ensign said the new hires will complement its 500 workers, allowing the company to deepen its capabilities to look out for threats online and gather knowledge about these threats.
Ensign chairman Lee Fook Sun said: "We want to build a company to deliver security solutions, services and outcomes for our stakeholders in Singapore and the region through investments to develop world-class cyber security expertise and innovative technologies together with our partners."
BIG DATA ANALYTICS
The centre Ensign opened yesterday will use big data analytics and artificial intelligence to churn out Singapore-focused insights into imminent and emerging online threats.
Yesterday, Mr Teo said with the growing dangers cyberthreats pose, Singapore needs private cyber security companies to help bolster its online defences and seize new opportunities offered by digital technologies.
"We need players like Ensign to help Singapore build world-class capabilities," he said.
"We welcome local and foreign companies, large and small, who are able to offer cutting-edge solutions to locate and grow their capabilities and businesses in Singapore."