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KUALA LUMPUR: Malaysia’s cybersecurity threats are expected to rise in 2024 based on the country’s ongoing significant cybersecurity concern for individuals and businesses. Taiwan-based network attached storage (NAS) company Synology Inc noted that Malaysia reported 494,699 leaked accounts, reflecting a troubling trend in digital security breaches. While predicting exact numbers is challenging, the figures are almost guaranteed to rise in 2024 unless immediate and decisive action is taken. “I think the message is clear. The time to act is now. Raising cybersecurity awareness, strengthening the resilience of your business infrastructure, and implementing advanced data protection protocols with drills are essential,” Synology sales account manager Jason Sin told The Exchange Asia. Sin said that while Synology does not have specific statistics on the percentage of data breaches, it is crucial to recognise the profound impact such breaches can have on the overall cybersecurity landscape. He said the compromise of government data poses significant risks, jeopardising the safety and privacy of citizens and potentially leading to national security threats. “Again, it is essential to prioritise data protection in the public sector. Implementing measures such as centralising data, utilising on-premise storage solutions, and adhering to high-standard security methods, including WORM (Write-Once-Read-Many) encryption and backup protocols. “These proactive steps are vital for upholding the security and trust of the public in an era where safeguarding sensitive information is paramount,” he said. “In the Malaysian business landscape, growing concerns about data scattering, loss, and cybersecurity threats demand vigilance. “Synology addresses these challenges with a reliable and centralised hybrid storage solution,” Sin noted. For financial institutions in Malaysia, adopting robust cryptographic controls is imperative to ensure the thorough protection of sensitive data and information. “While cryptographic controls are not within our primary expertise, Synology has a proven track record of supporting financial institutions globally through our comprehensive data protection solutions. “In various countries worldwide, including notable banks, Synology has demonstrated its ability to support financial institutions,” Sin said. He pointed out IdeaBank that entrusted Synology’s Active Backup Suite to safeguard the data of over 2500 users, encompassing Microsoft M365 accounts, including Drive, Mail, SharePoint Sites, Contracts, and Calendar. Sin said this showcases the versatility and effectiveness of Synology’s solutions in meeting financial institutions’ complex data protection needs on a global scale. Further, Sin noted that Synology continues collaborating with Malaysian businesses by understanding their unique data protection needs and challenges. He said that through customised solutions, including NAS systems with scalable security features and comprehensive support, Synology tailors its offerings to meet the specific requirements of the local market, ensuring businesses can protect their data effectively against cyber threats. “We have a retail customer who recently experienced a cyber attack on their domain, resulting in ransomware encrypting files within their shared folders. “Fortunately, they had previously created an Immutable Snapshot on their Synology NAS. This allowed them to quickly restore their files, isolating the NAS from their network during the process. Despite the attack, the Synology DSM operating system remained operational, thanks to the customer’s stringent security policies to prevent unauthorised access. This incident underscores the importance of timely data snapshots as a preventive measure against such unfortunate events,” Sin said further. “We recommend businesses prioritising regular data backups and leveraging snapshot technology for quick data recovery in the face of cyber threats. “Additionally, we advocate for the importance of conducting regular recovery drills to test and enhance cybersecurity response capabilities,” said Sin. He said Synology also emphasises user education on cybersecurity best practices and collaborates with industry experts to stay ahead of emerging threats. “This comprehensive strategy ensures that businesses using Synology solutions are well-equipped to face the evolving cybersecurity landscape in Malaysia,” Sin said.

KUALA LUMPUR: National postal operator Pos Malaysia Bhd will remain a significant player in the mail and parcel business segment despite stiff challenges coming from competitors. Chief executive officer Charles Brewer said that despite the challenges, including foreign exchange fluctuations and regional geo-political concerns, Pos Malaysia will continue to upscale its operations across all business segments. He said that over the last decade, traditional mail, which has long been Pos Malaysia’s core business, has experienced a decline ranging from -2 per cent to -38 per cent. “This downward trend was exacerbated globally during the Covid-19 pandemic, with mail volumes experiencing low double-digit declines due to various disruptions,” he told The Exchange Asia in a recent interview. Pos Malaysia handles around one to one and a half million letters daily, and the decline in the business segment was due to COVID-19, which significantly contributed to the decrease in the already diminishing business sector. While the company continues navigating the challenges, Pos Malaysia expects another year of continued decline in mail volumes, a downtrend the company has faced over the past ten years. Charles said that the situation has somewhat stabilised post-Covid and is returning to pre-pandemic decline rates of 6 per cent to 8 per cent. The company’s core business is divided into two significant segments – traditional mail and parcel – presenting distinct challenges. The mail and parcel segment is Pos Malaysia’s primary business. Charles emphasised that, as the nation’s postal operator, Pos Malaysia has a vital duty to keep Malaysians connected, ensuring the timely delivery of mail. He said that in adapting to current and new challenges, Charles emphasised innovation and resilience as Pos Malaysia explored strategies for diversifying its services and reimagining its business model to remain relevant in an era where traditional mail is steadily declining. “In addressing new challenges, Pos Malaysia looks towards a future marked by innovation and strategic transformation,” Charles noted. Despite continued growth in parcel volume, which is contributed by the booming e-commerce industry, the segment has attracted many new players who are establishing their own logistics solutions, squeezing further Pos Malaysia’s tight margin. “What was initially seven, eight, or nine years ago, a significant upside opportunity is still an opportunity, but it is harder and more competitive to make a decent return in that space,” Charles said. Explaining further operations, Charles said the logistics services sector in Malaysia operates within a relatively open market, with limited regulatory constraints on new entrants. He said there are approximately 120 courier operator licenses in Malaysia, serving a population of 30 million. “To provide a perspective, the contrast with Indonesia is stark, where only about 30 licenses serve a population of 350 million. With a population of 70 million, Thailand has a similar number of licenses. “The competitive nature of Malaysia’s logistics market is one of its distinctive features, offering opportunities and challenges. The abundance of licenses contributes to a vibrant but relatively deregulated environment, becoming the first challenge in the parcel sector,” he said. Charles said the government and relevant agencies must look into creating a conducive playing field for the domestic courier industry, particularly limiting the number of foreign players to give local players a more significant market share. “We have more than 15,000 employees, and Pos Malaysia is one of the oldest companies operating in Southeast Asia and certainly one of the oldest companies in Malaysia. “We have a fantastic history, a fantastic brand, and much to be proud of. “So a big part of our transformation is transforming our culture, making sure that all of our 15,000 employees are very clear about how we need to operate and behave to keep the customers we have—more customer centricity and employee centricity, which sits right at the heart of that cultural transformation,” Charles said.

KUALA LUMPUR: With a strong presence in Malaysia, Singapore, and Taiwan, Xamble Group Ltd is now eyeing expanding its influencer marketing services to other regions or markets. The Australian Securities Exchange (ASX)-listed Malaysian company is focusing on expanding across the ASEAN and New Zealand markets to attract more investors into its investor community. Xamble Group worked with more than 300 brands, including KFC, Unilever, P&G, and Hasbro and has access to over 20,000 influencers that reach over 20 million consumers in Malaysia, Singapore, and Taiwan through influencer marketing arm Nuffnang. Just recently, Nuffnang added The Body Shop, Taiwan Tourism, Standard Chartered and Mr DIY to its current portfolio. Xamble Group executive chairman Ganesh Kumar Bangah said more prominent brands are typically subject to more criticism from the public, especially during critical seasons involving important global events. “We work tirelessly so that our clients and brands care for us even more than usual,” he told The Exchange Asia. When asked how Xamble strengthens its relationships with existing clients and attracts new brands, Ganesh said that by strengthening relationships, the company attends to the client’s pain points to understand what they want to achieve. In addition, Xamble Group also hosts beneficial events like Nuffnang’s TMRW/TDY (Tomorrow/Today) to help clients better understand upcoming topics in the digital and influencer marketing industries. Ganesh said that in attracting new brands, Xamble Group innovates new products to supplement existing offerings, such as the Influencer Scorecard, a dedicated strategy team in place that focuses on bringing more creativity and innovation to campaigns, and the Talent Squad, an in-house talent management team that directly manages social media campaigns for influencers. “The primary objective of the investment initiative is to fortify and expand the outreach to the small and medium-sized enterprise (SME) segment through the Xamble Creators platform. “This entails strategic technological investments aimed at augmenting the platform’s functionality facilitates a seamless and direct interaction between influencers and SME brands. “The integration of an influencer solution tailored for SME brands holds the potential to amplify the scale of our business operations substantially,” said Ganesh. Xamble Creators is an innovative platform to enhance collaboration between micro and nano influencers and brands. The platform allows influencers to monetise their content by connecting them with brand campaigns that align with their interests. The platform, integrated with OpenAI’s ChatGPT, also empowers users with suggested social media posts based on campaign briefs and influencers’ preferred tones. Xamble also features a virtual robot, Xb, for tutorials and post suggestions. It is available on iOS, Android, and Huawei AppGallery and operates on SaaS (software-as-a-service) and fintech models. Targeting Asia’s prominent influencer segment, Xamble Creators focuses on authenticity and frequent audience engagement. It also includes a verified list of influencers, ensuring brand fit and addressing common concerns. This innovation aims to diversify revenue streams, enter new markets, and target the SME sector for long-term growth. Ganesh said Xamble Creators, introduced last year, continues to empower creators and influencers. “Via the app, we can access even more influencers looking for a way to connect, collaborate, and create content to earn. “Currently, we have more than 1,000 active influencers on the app, Ganesh noted. In October last year, Xamble Group signed a subscription agreement to receive an A$400,000 (RM1.2 million) investment from Georg Chmiel, a leading tech entrepreneur and public markets expert. Chmiel’s investment came in via the subscription of new chess depositary interest (CDI) at 3.5 cents per CDI. He also received 2 million options at 4.5 cents per CDI, vesting equally over five years, contingent on his directorship at each vesting date. Chmiel joined the Xamble Group board in November as an independent non-executive director. “In light of our consistently positive cash flow, as evidenced in prior ASX market announcements, Xamble Group is strategically allocating surplus funds towards future growth initiatives. “This proactive approach involves significant investments in enhancing our technology platform, primarily focusing on developing new features. “Notably, we are constructing a self-service influencer platform tailored for SMEs within our targeted markets,” Chmiel said. Chmiel and Ganesh have reviewed the strategic direction of the business and agreed on the growth path forward. Xamble Group noted that there will be continued investment in the platform, influencer community, and operations. The board is also assessing additional organic and inorganic mergers and acquisition growth opportunities as they emerge. Chmiel brings over three decades of expertise in disruptive online businesses, significantly influencing decision-making at Xamble Group. He excels at reassessing strategies, optimising team dynamics, and securing support for investment decisions through a robust network in the financial investor community. With a proven track record overseeing 40 successful mergers and acquisitions, Chmiel demonstrates a keen understanding of effective governance and the importance of technology platforms for rapid business scaling. In summary, his extensive experience and strategic vision have been instrumental in shaping Xamble Group’s direction, fostering innovation, and ensuring sustained success.