SINGAPORE (June 7): Singapore Technologies Engineering said that its US subsidiary did suffer from a cyber-attack, as reported earlier, but the threat has since been contained.
The Maze Group, according to ST Engineering in June 7 statement, breached the IT network of VT San Antonio Aerospace, the US-based subsidiary, and deployed a ransomware attack.
Other recent reported corporate victims of the Maze Group include US IT services firm Cognizant and Berkine, an oil company.
After the breach was discovered, ST Engineering disconnected certain systems from the network, hired third-party forensic advisors to help investigate the incident and notified
appropriate law enforcement authorities.
“At this point, the ongoing investigation indicates that the threat has been contained and is believed to be isolated to a limited part of ST Engineering’s commercial operations in the US,” said the company in its statement.
ST Engineering’s IT network in Singapore and its other businesses has not been compromised, the company added. It is reviewing the incident and will ensure that its data remains secure.
This cyber-attack is not expected to have any material impact on the consolidated net tangible assets or consolidated earnings per share of the company, it added.
ST Engineering shares closed at $3.53 last Friday, down 12% year to date.
