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Secura enters Malaysia security services market in joint venture with Willowglen
By Jude Chan
SINGAPORE (Sept 14): Secura Group on Wednesday announced its entry into Malaysia’s security services market with the setting up of Secura Malaysia in a joint venture with Bursa-listed Willowglen.
Secura and Willowglen will each hold 50% of the issued share capital of Secura Malaysia.
The joint venture company will be providing cyber security, homeland security, security consultancy, security systems integration and other security products and services in Malaysia.
“Willowglen’s technologies and products complement our core businesses and will further enhance our capabilities in cyber security, homeland security and integrated security solutions,” says Secura CEO Paul Lim.
“This strategic collaboration will also enable us to expand our presence in the security ymarket in Malaysia, particularly in the cyber security space where we see tremendous growth potential,” Lim adds.
The cyber security industry in Malaysia could grow to RM8.8 billion ($2.9 billion) by 2020, according to CyberSecurity Malaysia, the national cyber security specialist agency under Malaysia’s Ministry of Science, Technology and Innovation (MOSTI).
Shares of Secura Group closed 0.6% lower at 17.2 cents on Wednesday.
Source: The Edge
http://smr.theedgemarkets.com/article/s ... e-87358173