February 21, 2024
Koh Brothers Eco Engineering suffers cyberattack

A cyberattack has affected Koh Brothers Eco units; an investigation is underway.

A cyberattack recently targeted Koh Brothers Eco Engineering, gaining unauthorized access to encrypted servers located in “certain subsidiaries.”

On December 4, the provider of sustainable engineering solutions stated that although an ongoing investigation shows that the situation is under control, it cannot determine the full extent of the cyberattack’s impact on the organization and its activities. The statement read, “The group’s business continues to be operational notwithstanding the incident.”

The Catalist-listed company reported that it acted quickly to contain the incident and stop additional unauthorized access to its IT network.

“To assess, respond, and manage the incident, the group has also engaged outside legal counsel and incident response experts,” the statement from the group stated.

“Shareholders are advised to exercise caution when dealing with their shares or securities and to refrain from taking any actions regarding them that could be detrimental to their interests in the interim.”

The company also stated that it will keep shareholders informed of any significant developments about the incident.

As of 10.06 am on December 4, shares of Koh Brothers Eco Engineering were trading flat at 2.3 cents.

Cyberattack Affected Koh Brothers Eco Engineering Limited, Urging Quick Reaction

To stop additional illegal access, the company disconnected the impacted servers from the network as soon as it became aware of the KBEE cyberattack. To evaluate, address, and handle the issue, the business has also brought in outside legal counsel and incident response specialists.

According to current investigations, the cyberattack against Koh Brothers Eco Engineering appears to have been contained, but it’s still unclear how much of an impact it had on the company and how it operated.

The current investigations suggest that the incident has been contained at this time. The extent of the Incident’s impact on the Group and its operations cannot currently be determined by the Company. Notwithstanding the Incident, the Group’s business is still running, according to the official statement.

The extent of the Koh Brothers Eco Engineering cyberattack is still being investigated, but at this point, the company is unable to evaluate the full impact. As things progress, the Board guarantees shareholders that it will give them timely updates.

Improving the Framework for IT Security to Be Future-Ready

To remove the intrusion and restore the impacted systems, KBEE is utilizing cutting-edge technologies. In keeping with its dedication to data security, KBEE will assess and, if required, improve its IT security framework to fend off threat actors’ growing sophistication.

It is advised that shareholders refrain from taking any actions regarding their securities or shares that might harm their interests.

When handling KBEE shares or securities, caution is advised. It is highly advised that shareholders get professional advice and speak with their stockbrokers if they want to transact with KBEE shares.

According to the official release, “shareholders of the Company should seek their professional advice and consult with their stockbrokers if they wish to deal in the shares or securities of the Company.”

The company wants to reassure stakeholders and shareholders, which is why it is taking proactive steps and is committed to transparency. In the wake of cybersecurity incidents, KBEE recognizes the significance of upholding trust and promises to keep shareholders updated on significant developments as investigations continue.

Due to the KBEE cyberattack, businesses should prioritize cybersecurity measures. Having strong protocols in place to protect sensitive data and guarantee business continuity is also extremely important.

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