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Jumbo Group suffers ransomware attack

The company did not disclose the date or duration of the incident, nor did it state if a ransom was paid.

Catalist-listed Jumbo Group 42r recently suffered a ransomware attack, according to a bourse filing on May 23. The company did not disclose the date or duration of the incident, nor did it state if a ransom was paid.

The group says it worked with external experts and took immediate action to identify, contain and address the incident. The group has also alerted relevant authorities, including the Singapore Police Force, the Personal Data Protection Commission and the Cyber Security Agency of Singapore.

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“Based on preliminary investigations of the incident, neither the group nor its external experts have observed any evidence [of] data exfiltration,” says the group.

Investigations are currently ongoing and Jumbo says there has been “no significant impact” to business operations.

“The group takes information security seriously and as part of this process, is conducting a rigorous review of the incident and its systems. Going forward, the group will also seek advice from industry experts to further strengthen its overall cyber security.”

On May 10, Jumbo reported earnings of $8.9 million for its 1HFY2024 ended March 31, up 11.9% y-o-y. Revenue in the same period ended March was up 13% to $97.1 million.

Its Singapore business enjoyed a 21.5% y-o-y jump in revenue to $85.3 million. However, its business in China did not do as well; revenue there fell 26.2% y-o-y to just $9.9 million.

Jumbo's announcement comes amid a spate of cybersecuity incidents among Singapore-listed companies. Mainboard-listed Aztech Global announced in February that it had fallen victim to a ransomware attack. In January, IPS Securex Holdings, ES Group (Holdings) and RE&S Holdings made separate announcements of ransomware attacks on their servers.

Shares in Jumbo closed flat at 25.5 cents on May 21.

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