KUALA LUMPUR: Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cybersecurity solutions post-passage of the new cybersecurity bill.
Hong Leong Investment Bank Bhd (HLIB) said Cloudpoint Technology offers a comprehensive range of solutions that can be deployed independently or integrated seamlessly with other existing systems.
Leveraging its well-established network of technology vendors such as CISCO, McAfee, Paloalto, and others, the company can ride on the impending passage of the cybersecurity bill.
The cybersecurity bill, which was passed in the Dewan Rakyat on April 3, 2024, is now slated for its third reading.
Aiming to bolster national cybersecurity and safeguard Malaysia's digital infrastructure against cyber threats, the bill establishes cybersecurity standards that organisations classified as National Critical Information Infrastructure (NCII) must adhere to.
Meanwhile, HLIB said Cloudpoint Technology's plan to acquire Unique Central Group will position the company to capitalise on the growing demand for power in the data centre sector.
In February 2024, CLOUDPT finalised a term sheet to acquire a 75 per cent stake in Unique Central Group (UCG) for a consideration of RM26.8 million.
The bank said this acquisition is expected to bolster the group's earnings.
"This will include profit guarantees of RM4.2 million, RM4.8 million, and RM5.2 million for the financial year 2024 (FY24) through FY26, respectively," it added.
