Secura extends regional footprint into Thailand’s security services
SINGAPORE, 17 October 2016 – Secura Group Limited (新保安集团有限公司) (“Secura” or the “Company” and together with its subsidiaries, the “Group”), one of the leading providers of security products, services and solutions in Singapore, today announced that it has entered into a joint venture agreement with local partners to set up a joint venture company, SecuraThai Co., Ltd. (“SecuraThai”).
Under the joint venture agreement, Secura will hold 45% of the registered capital of SecuraThai, while the remaining 55% of the registered capital will be held by local partners, Mr Visanu Prasattongosoth, Mrs Uchanya Prasattongosoth and Mr Khemmachat Hiruntoe. Mr Visanu Prasattongosoth is currently an independent director of Bangkok Airways Public Co., Ltd. and a director and chairman of the audit committee of Finansia Syrus Securities Public Co., Ltd., both companies listed on The Stock Exchange of Thailand.
SecuraThai aims to offer cyber security solutions and services, with an initial focus on vulnerability assessment and penetration testing services, to hospitals, data centres, banks, multinational corporations and government agencies; and homeland security products and services to airports and government agencies. Further to that, SecuraThai also intends to promote the Group’s integrated suite of security products and service, including mobile forensics and analysis, security consultancy and systems integration services, in Thailand.
This latest joint venture to expand the Group’s regional footprint follows closely the announcement last month when Secura tied up with Bursa-listed Willowglen MSC Berhad, to provide cyber security, homeland security, security consultancy, security systems integration and other security products and services in Malaysia.
Mr. Paul Lim (林春伟), Chief Executive Officer of Secura said, “This move into Thailand is another major step towards establishing Secura as a player in the region’s security services industry. Thailand is a key area of strong growth potential, with the heightened frequency of physical and cyber security threats and the lack of established cybersecurity service providers in the country. I am confident that our robust capabilities in cyber security, as well as homeland security will enable us to gain a foothold in the security services market in Thailand. Our expansion in the region also provides us with a larger hinterland to distribute our expanded range of security products and services.”
According to HIMSS Asia Pacific1, Thailand was identified as one of the top 25 malware-infected countries in a survey of 200 countries and its cybersecurity market is worth around US$20 million.
1 Healthcare Information and Management Systems Society (HIMSS) is a not-for-profit organization headquartered in Chicago, Illinois with additional offices in North America, Europe, United Kingdom and Asia.
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ABOUT SECURA GROUP
Secura Group Limited (新保安集团有限公司) is one of the leading providers of an integrated suite of security products, services and solutions based in Singapore. The Group was formed through a merger of two groups of companies – the Secura group of companies that provides security printing services, and the Soverus group of companies that provides security consultancy and other services.
Through the Secura group of companies, the Group owns one of the largest cheque printing businesses in Singapore. The Group’s other security services are undertaken by the Soverus group of companies, which offers security guarding, cyber security, homeland security, and other security products and services.
As a security agency with an established track record, the Group has consistently been awarded ‘A’ Grading (Excellent) by the Police Licensing & Regulatory Department from 2012 to 2016. The Group has a well diversified customer base comprising more than 550 customers in various industries, including multinational corporations, financial institutions and government agencies.
Secura’s substantial shareholders include, among others, Mr Peter Lim, Mr Wee Ee Chao and City Developments Limited.
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, United Overseas Bank Limited (the “Sponsor”), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the “SGX-ST”). The Sponsor has not independently verified the contents of this press release.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Mr Chia Beng Kwan, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: +65 6533 9898.