AEM suffers IT breach, conducting ‘rigorous’ review

Sharanya Pillai

Published Mon, Sep 5, 2022 · 10:36 PM

SEMICONDUCTOR solutions provider AEM Holdings suffered a recent IT breach that resulted in unauthorised access to its network, the company disclosed in a Monday (Sep 5) bourse filing. It did not elaborate when the breach occurred.

AEM has since contained the incident and prevented further unauthorised access, it said, adding that the business remains operational. The company has engaged incident response consultants and external counsel to assess and manage the incident.

The breach is not expected to have a material adverse impact on AEM’s earnings per share for FY2022 ending December.

“The company takes IT security risks seriously and is conducting a rigorous review of the Incident and its IT systems to ensure that they remain robust, and the data it is entrusted with remains safe and secure,” AEM said.

Shares of AEM ended Monday at S$4.47, down 1.3 per cent or S$0.06.