BH Global has, through its majority-owned subsidiary, Athena Dynamics, secured cyber security orders of a total of $4.2 million for the 1HFY2021.
The orders are to be fulfilled progressively from the 3QFY2021 to the 4QFY2022. It is not expected to have a significant impact on the group’s performance for the current financial year.
The orders mainly involve the group providing advisory, professional services and special technologies. They will be fulfilled by working closely with world-renowned partners with high-order cyber security propositions in the protection of sensitive digital assets and critical information infrastructures from cyber-attacks.
These orders comprise new and repeated ones from government agencies, info-infrastructure operators, multi-national companies (MNCs) and small-medium enterprises (SMEs).
The outlook going forward for Athena Dynamics remains “realistically strong” with high probability leads, which it hopes to convert before the end of 2021.
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Athena Dynamics has secured projects in more than 120 companies in Singapore and the region since its inception in 2014.
“We are pleased to see the meaningful growth journey of Athena Dynamics which is a live example of successful business transformation by a home-grown company. Many may not be aware that Athena Dynamics was a spin-off of BH Global Group’s IT department after the department discovered specific disruptive technologies that protect better than traditional approaches,” says Vincent Lim, CEO of BH Global.
“The spinoff company offers tremendous values to our customers with its wealth of IT operation experiences. We hope to continue the good practices of Athena Dynamics, focusing on operational viability, and bring forth actionable insights to the industries,” Lim adds.
“In today’s complex threat landscape, traditional detection-centric only methods are no longer sufficient when advanced and sophisticated threats are in the first place almost undetectable. ‘Detect nothing therefore does not mean safe.’ A new paradigm that is not detection-centric is so urgently needed to truly protect. We are therefore committed to continuously educate and share on common misconception and misfocus of traditional cyber protection approaches,” says Ken Soh, CEO of Athena Dynamics.
Shares in BH Global closed 7.5 cents higher or 30.6% up at 32 cents on July 5.
