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.
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