DNeX to ride cyber security boom

ROOM FOR GROWTH: Company aims to carve a bigger slice of US$40b market

DAGANG NeXchange Bhd (DNeX), via wholly-owned subsidiary DNeX Technology Sdn Bhd, is set to carve a bigger slice of the booming global cyber security market, estimated to hit US$40 billion (RM177 billion) by 2022.

DNeX Technology chief executive officer Rodney Lee said although the company’s cyber security business was relatively small compared with other components in the information technology and e-services segment, there was plenty of room for growth.

He said the company was aiming to grow its cyber security business by 30 per cent next year.

“We will go overseas together with our customers when they expand their businesses in the region, and we hope to provide cyber security services for their regional operations,” Lee told Business Times recently.

Despite the economic uncertainty, cyber security in Malaysia is set to grow rapidly, in line with the growth of e-business and the Internet.

The industry is becoming more competitive with established and new players jostling for a leading position in the market via innovative products.

Lee is unfazed as he believes the Malaysian market has much potential for growth.

“What is important is to leverage on our knowledge and experience as well as trust and relationships that we have built with our customers,” he said.

On the current market trend of cyber security, Lee said: “General awareness of cyber security in Malaysia is still low and not at the level where it should be, in comparison to South Korea, Japan and China.”

He, however, said the market was picking up with more compliance measures being imposed by regulatory bodies.

“Among businesses, implementation of cyber security is mainly due to compliance or to gain a competitive edge,” added Lee.

He cited the Security Commission’s new ruling for public-listed companies to have board oversight for their cyber security systems as an example.

At the national level, Lee said cyber security in private and public sectors was driven by initiatives such as the Critical National Information Infrastructure and the Malaysian Personal Data Protection Act 2010.

DNeX’s core offerings in cyber security are managed security services, penetration testing services, security compliance and security device maintenance.