ST Engineering's US unit reports ransomware attack

It assured its IT network in Singapore and other businesses remain uncompromised.

ST Engineering has announced that a cybersecurity incident occurred on its US-based subsidiary, VT San Antonio Aerospace. A group of cyber criminals, known as the Maze group, gained unauthorised access to its IT network and deployed a ransomware attack, a press release confirmed.

Immediate actions were taken to contain and isolate the threat to a limited part of ST Engineering’s commercial operations in the US. Further investigations with help from leading third-party forensic advisors are ongoing, according to the press release.

Though its IT network in Singapore and other businesses have not been compromised, advanced tools are being deployed to remediate and restore the affected systems. No material impact is expected on the consolidated net tangible assets or EPS of the ST Engineering Group for the current fiscal year.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia