With a weak cyber security, a company is putting itself at high risk of losing revenue and reputation. It can also make the company vulnerable to sensitive data theft and costly lawsuits.
For these reasons, firms are urged to build up its capability to protect their cyberspace or outsource a reliable company with a cyber security approach that is predictive, responsive, preventive, and detective.
“Traditional security measures are necessary but are not enough for the survival of an organization,” said ePLDT chief information security officer Angel Redoble. “Even if you have the basic setup for your company’s cyber security, you will be spending money and still putting the company at risk.”
Redoble was one of the speakers during the Seminar on Cyber Security and Data Privacy Law organized by PLDT Enterprise and the Mandaue Chamber of Commerce and Industry (MCCI) at Maayo Hotel on Jan. 25. Other speakers were Assistant Secretary Geronimo Sy of the Department of Justice, PNPISP Leo Deofiles, chief of the Regional Anti-Cybercrime Office-Central Visayas.
While cyber attacks are becoming more “intelligent and sophisticated” every year, many firms still do not have a strong understanding of their cyber posture and many organizations take long to discover a breach.
“Businesses need to protect its internal and external information. The longer you detect and resolve a cyber attack, the bigger the damage. The challenge is to respond quickly and efficiently. How fast can you respond and recover?” Redoble said.
He explained that cyber attacks are driven by different motivations, such as for personal or corporate gains, organization funding, and economic superiority.
But when companies implement cyber security, they are faced with the complexities it brings, including people, process, and technology, larger network, BYOD (bring your own device), and siloed IT. Also, deployment can make it difficult to implement cyber security across organizations.
Cyber security, according to Redoble, also needs the right people with the right expertise. Yet companies are having difficulties recruiting the required talent. This could be attributed to lack of solid educational programs on cyber security, among others.
With the way cyber attacks are becoming elaborate every year, Redoble urged firms to face the facts.
He said that attackers also have access to most or all the defensive tools and tactics of enterprise defenders and that defenders lack platform, authority, and resources to fully control and protect the systems and data they are responsible for. He also questioned the capability of security teams to monitor round-the-clock traffic and attacks.
“Cyber security is not just about technology and computers. It involves people, information systems, culture and physical surroundings, and technology. It creates a secure environment where business can remain resilient in the event of a cyber attack,” he said.
During the seminar, MCCI President Stanley Go raised the suggestion for the Chamber to work with PLDT in conducting a “cyber security audit” for its member-companies.
Mandaue Chamber of Commerce and Industry
South Star Drug Now Accepts GCash in Metro Manila Outlets
South Star Drug, one of the biggest drugstore chains in the Philippines, becomes the first drugstore in Metro Manila that allows customers to purchase medicines and other items using GCash scan to pay mode of payment.
The medicine retailer has over 450 stores nationwide and still growing. The use of GCash in South Star Drug’s Metro Manila outlets is being piloted in six branches – two in Pasig (C. Raymundo cor. F. Legaspi, Dr. Sixto Ave.), two in Makati (Herrera, Guadalupe Unimec), one in Pasay (Balabag Merville), and one in Las Pinas (Philamlife). By end of the year, all South Star Drug outlets are expected to accept GCash scan to pay.
GCash is being operated by Mynt which is owned by Globe Telecom, Ant Financial and Ayala Corp. “Mynt’s partnership with South Star Drug is part of our company’s efforts to make payments more convenient, safer and easier. This brings us another step closer to our goal of making the Philippines a cashless country,” says Anthony Thomas, Chief Executive Officer of Mynt.
Christine Tueres, General Manager of South Star Drug said: “South Star is always working to improve customer experience and find ways of doing things better – that includes giving our customers more payment options. With GCash QR code feature, even without cash or credit card, our customers can make a purchase in any of our stores with just a few taps on their smart phones”.
Using GCash is easy. A customer with an iPhone or an Android smartphone only needs to download or update to the latest version of the GCash App, register for an account, and fund their GCash wallet at any of over 12,000 GCash Partner Outlets nationwide. This includes Robinsons Business Centers. Once done, the customer just has to tap on Scan QR, point a phone’s camera at the partner’s QR code, and key in the amount to be paid.
Manila Water to expand in Thailand
Ayala-led Manila Water Company Inc. is venturing into the water industry of Thailand as part of its ongoing expansion in Southeast Asia.
In a disclosure to the Philippine Stock Exchange, Manila Water said it signed Monday a share purchase agreement with Electricity Generating Public Company Limited (EGCO) to acquire its 18.72-percent equity in Thailand-based Eastern Water Resources Development and Management Public Company Limited.
The company intends to finance the transaction through internally generated funds and bank debt.
It said the closing of the acquisition is still subject to the “fulfillment of certain conditions precedent.”
“We recognize the opportunities this new market presents for us, and we are eager to share the technical expertise and service quality which Manila Water has developed over the last 20 years. From the conglomerate perspective, Ayala sees this development as a strategic entry point into Thailand. With Manila Water leading the way, we hope to leverage our various capabilities to enlarge our footprint in the country,” said Ayala President and Chief Operating Officer and Manila Water Board Chairman Fernando Zobel de Ayala.
East Water’s operations are strategically located along the Eastern Economic Corridor which is targeted to be a leading economic zone in the Southeast Asian region.
East Water, a publicly listed company whose shares are traded in the Stock Exchange of Thailand, is engaged in the provision of raw and tap water supply services in the eastern region of Thailand and home to a number of heavy industries, including automotive, electronics and petrochemicals.
“Our entry into the Thailand water space aligns squarely with our internationalization strategy, with focus in Southeast Asia. East Water presents great potential, as its future growth will mainly come from the Eastern Economic Corridor (EEC), the Thai government’s initiative to further develop the country’s eastern seaboard into a leading economic zone in ASEAN,” said Manila Water President and Chief Executive Officer Ferdz dela Cruz.
Manila Water’s entry into Thailand comes after its foray into bulk water and concession projects in Vietnam.
It has also completed pilot projects in Bandung, Indonesia for a non-revenue water reduction program; and in Yangon, Myanmar for leakage reduction.
MCCI Welcomes New Trustees, Members
The Mandaue Chamber of Commerce and Industry welcomed a new set of trustees in an oath-taking ceremony on Jan. 25 at Maayo Hotel Corp. in Mandaue City. The Chamber also inducted at least 34 new member-companies.
Stanley Go, vice president for sales and marketing of Virginia Food Inc., is the new MCCI president.
“I want to thank the Chamber’s Board of Trustees for their confidence in my ability to navigate and steer MCCI to the direction that it needs to go to contribute significantly to the prosperity of our members who are themselves important engines of economic growth,” said Go.
He added that he will cherish the Chamber’s trust and support in his vision and drive to make the Chamber more relevant to its members.
“As we strengthen the linkages we have established over the years, I hope to increase our membership base from 300 to 500 by the end of 2018,” he said.
Steven Yu, chairman and chief executive officer of Alliance Pacific Resources Corporation, is MCCI vice president for internal affairs. Edgar Allan Po, assistant manager of Winner Plastic Product Corporation, is MCCI vice president for external affairs. Romelinda Cruz-Garces, communication officer of San Miguel Brewery Inc., is the MCCI secretary. Amado Go, president of Cenapro Chemical Corporation, is the MCCI treasurer. Michelle Co-Lin, RBG VisMin-Business Center head of CTBC Bank, is the auditor.
The MCCI’s new Board of Trustees is composed of Glenn Anthony Soco, president and chief operating officer (COO) of GA Satellite Venture; Wilson Ng, president of Ng Khai Development Corporation; Vicky Dy, managing director of Adnetwork Corporation; Alice Uy, proprietor of Jace Handicrafts International; Barbara Gothong-Tan, president and chief executive officer of A.D. Gothong Manufacturing Corp.; Mark Anthony Ynoc, general manager of San Remigio Properties; John King, managing director of King’s Quality Food Inc.; Donato Busa, president of DMC Busa Printers; and Beverly Dayanan, president and COO of Contempo Property.
Mandaue Chamber of Commerce and Industry
Google Announces Intent to Acquire Xively
Today, Google has announced that it has entered into an agreement to acquire Xively, a division of LogMeIn, Inc.
By 2020, it’s estimated that about 20 billion connected things will come online, and analytics and data storage in the cloud are now the cornerstone of any successful IoT solution. This acquisition, subject to closing conditions, will complement Google Cloud’s effort to provide a fully managed IoT service that easily and securely connects, manages, and ingests data from globally dispersed devices. With the addition of Xively’s robust, enterprise-ready IoT platform, we can accelerate our customers’ timeline from IoT vision to product, as they look to build their connected business.
Through this acquisition, Cloud IoT Core will gain deep IoT technology and engineering expertise, including Xively’s advanced device management, messaging, and dashboard capabilities. Our customers will benefit from Xively’s extensive feature set and flexible device management platform, paired with the security and scale of Google Cloud. With Google Cloud’s deep leadership in data analytics and machine learning, our customers will also be uniquely positioned to build turnkey IoT solutions and focus on business value creation.
We look forward to sharing more details after close—stay tuned!
DepEd Says Senior High School Grads Ready for Work
650 senior citizens in Bacolod receive P1.95-M social pension
Easy Pha-Max Wheatgrass Celebrates a Decade of Wellness and Success
Danao City Youth Support Mega Cebu
Don’t Forget the Digital Prenup: Relationship Break-Ups Put Personal Privacy at Risk
Family Day culminates DSWD-7’s Adoption Consciousness Celebration
Angkas Padala goes to Cebu!
DSWD-7 Boosts Pantawid Pamilya Partner-beneficiaries Entrepreneurship Skills in Tagbilaran City
DSWD-7 Needs Compassionate Arms of Volunteers
Explore Kinatarcan Island
South Korean Singer and TV Personality Kim Jong Kook Joins Time-sharing Platform MiaoA International
DOT: Tourism Arrivals Reach All-Time High at 6.6M
Winners in 2017 Sinulog Short Film Festival Bared
Chef Donita Rose Shares Her Jolly Heart Mate Recipes at the Sinulog Festival 2017
SINULOG Festival 2017 Schedule of Activities
Celebrate Sinulog With A Month-Long Feast At Parkmall
TOTAL Philippines, Cebu Car Afficionados Support Bumper To Bumper Sinulog
ETC Paintensity Returns To Sinulog 2016!
Local News1 week ago
Angkas Padala goes to Cebu!
Entertainment1 week ago
Explore Dragon Ball Xenoverse 2 for Free This Weekend with Xbox Live Gold
Business News1 week ago
‘Super Consortium’ Eyes NAIA Transformation into a Regional Hub
Technology6 days ago
Lenovo Continues Support for Youth Organizations, Named Exclusive Technology Partner Anew of TAYO Awards Foundation
Technology3 days ago
Meet the Couple That Guides Together
Technology1 week ago
The Browser for a Web Worth Protecting
Entertainment2 days ago
Follow T’Challa’s Own Adventures in “Black Panther”, Now Showing in Theaters Nationwide
Entertainment1 week ago
One-of-a-Kind Gift Ideas You Can Use this Valentine’s Day