Cybersecurity breach at InnoTek's China unit; Singapore networks unscathed

Singapore

A CHINESE subsidiary of precision metal parts maker InnoTek has suffered a cybersecurity breach, the mainboard-listed company said on Monday, adding that its information technology (IT) network in Singapore has not been compromised.

Mansfield Manufacturing Company Hong Kong and its subsidiaries in mainland China had "a cybersecurity incident where its IT network was unlawfully accessed by cyber criminals and its system encrypted by a virus", InnoTek said in an exchange filing.

"Upon discovering the incident, Mansfield Group took immediate action, engaged various third-party forensic advisers to assist with the investigation and carried out intensive recovery works with the help of its internal IT team," the company said.

It added that law enforcement authorities and security bureaus in Hong Kong and mainland China were promptly notified.

"According to preliminary report, such viruses are rampant and many large companies in China and overseas had been attacked. Investigations into the incident are ongoing, and a police report has been lodged," the company said.

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It added that the threat has been contained, and most of the data recovered. Reconstruction work has also been completed, with business activities now operational.

The company is now conducting a "rigorous review" of the incident and its systems to ensure that the data in its possession remain safe and secure, it said.

The incident is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the company and its group for the financial year ended Dec 31, 2020.

InnoTek's shares closed flat at 66 Singapore cents on Monday.