The article was originally published by Businessscircle at: https://businesscirclekl.com/austrian-jv-with-lgms-to-boost-regional-cybersecurity-capabilities/
Austrian Ambassador to Malaysia Dr. Michael Postl recently inaugurated TÜV AUSTRIA Cybersecurity Lab Sdn Bhd, an Austrian-Malaysian joint-venture between TÜV TRUST IT, a member of the TÜV AUSTRIA Group, and LGMS of Malaysia.
This partnership aims to take the emerging field of cybersecurity to a whole new level, reaching from Malaysia across the whole Asia-Pacific region to the world at large.
TÜV AUSTRIA is an international testing, inspection and certification (TIC) company with more than 2,000 staff delivering expert services in more than 20 countries worldwide. Founded and based in Austria, TÜV AUSTRIA Group generates around €220m in annual revenue today.
Malaysia’s LGMS is one of the region’s leading end-to-end cybersecurity firms with renowned brands courting its expertise. The company has been accredited with multiple international certifications and recognitions, including International Data Corporation (IDC), which recognised LGMS as one of the world’s leading IoT (internet-of-things) key penetration testing vendors in the 2019 IDC report.
Under the partnership, TÜV AUSTRIA Cybersecurity Lab Sdn Bhd will house a global Cybersecurity Testing and Certification Center of Excellence (CoE) to serve both the domestic and international markets.
“TÜV AUSTRIA Cybersecurity Lab will go a long way in solidifying Malaysia as Asia‘s foremost authority in cybersecurity assessment, testing, and certification,” said LGMS group managing director Fong Choong-Fook.
He explained that TÜV AUSTRIA Cybersecurity Lab would be instrumental in helping organisations identify vulnerabilities within their IT infrastructure before recommending measures to maintain and to constantly improve on their security levels.
“At the same time, our JV will also stimulate the Industry 4.0 Cyber Security Testing & Certifications ecosystem, driving the protection of Critical National Infrastructure (CNI) as encouraged by the Malaysian Government,” Fong added.
On growing local cybersecurity expertise, Fong estimated that up to at least a hundred new highly skilled cybersecurity jobs will be created.
“Local professionals would be identified, trained, and hired to conduct world class cybersecurity testing and certification straight from Malaysia.” Fong said, adding that that the JV would also result in animated knowledge and technology transfer through TÜV AUSTRIA‘s innovation and development arm.
TÜV AUSTRIA Cybersecurity Lab to meet market demands and exceed industry expectations
Meanwhile, TÜV AUSTRIA Groups CEO Dr. Stefan Haas considers establishing a cybersecurity CoE jointly with LGMS as one of the most auspicious developments in its company’s history.
“Cybersecurity drives worldwide investments. TÜV AUSTRIA Cybersecurity Lab is here to not only meet market demands but to vastly exceed industry expectations,” said Haas.
The TÜV AUSTRIA Group‘s investment into Malaysia underscores the region‘s excellence-driven potential the CEO is striving to unlock: “We project dynamic growth ahead as local expertise diversifies our cybersecurity portfolio in the service of our clients worldwide.”
Haas, who earned his doctoral degree in mechanical engineering at the renowned Technical University Vienna, confidently embraces the Asian market he deeply admires: “Manufacturing industries have been building plants to meet rising customer demand, and government initiatives seek to grow the economy and incentivise innovation. Cybersecurity is one of the key drivers.”
In terms of certification, Haas shared that, as an independent and objective testing organisation, the TÜV AUSTRIA Group‘s certificates transcends customers’ value propositions.
“We offer certifications based on international and TÜV proprietary standards that document the efficiency and security of customer demands,” he further said, adding that organisations can profit from the well-known brand TÜV and gain a competitive advantage with the TÜV seal.
Fong and Haas also expressed their appreciation to Austrian Embassy in Kuala Lumpur for the support and encouragement behind the scenes to make Malaysia a cybersecurity testing and certification hub in the Asia-Pacific region.
“We are indeed most grateful to Ambassador Postl and his team for their valued support and guidance in helping us realise this JV,” they said.
Meanwhile, Ambassador Postl praised the TÜV Group and LGMS for all their hard work and commitment in realising this joint-venture.
“I am glad to see yet another established Austrian name investing in Malaysia. It is also heartening to note that both parties will be exchanging knowledge, expertise and R&D in this growing field of cybersecurity, said Ambassador Postl.
“This partnership has the potential to establish Malaysia as a hub for cybersecurity testing and certification for the Asia-Pacific region,” added the ambassador.
TÜV AUSTRIA Group’s JV partner LGMS is a member of MDEC’s GAIN (Global Acceleration and Innovation Network) programme that is designed to catalyse the expansion of Malaysian tech companies to soar on the global stage.
At the event, MDEC Chief Operating Officer (COO) Dato’ Ng Wan Peng commended LGMS for being an exemplary Malaysian tech company providing the best cybersecurity testing, assessment and consulting advisory to global organisations.
“The collaboration between LGMS and TÜV AUSTRIA Group is a testament to Malaysia’s capability in becoming a major cybersecurity hub in the region. This will further boost Malaysia’s position as the heart of digital ASEAN and as a preferred investment destination for tech companies,” she said.
In conclusion, Haas said: “TÜV AUSTRIA Cybersecurity Lab is a venture of multiple opportunities, for the industry, to be sure, but especially for the future generations to write the history of digital evolution.”
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