SingTel appears determined to drive away the threat of cyber criminals. In line with its recent partnership with Akamai, set up to keep Distributed Denial-of-Service attacks at bay, it has announced that a large proportion of its S$500 million ($395 million) digitisation budget will be spent on reinforcing its cyber security.
National newspaper The Straits Times reports that over the next five years the Singaporean telecommunications company will hire 1,000 engineers, who will also work on furthering its strengths in smart cities and analytics.
Chief executive Chua Sock Koong told the publication that the telco will construct an Asia-Pacific Cyber Security Competency Centre and incubation labs where engineers will experiment with new ideas that could be brought to market.
SingTel is pursuing this move in the form of a first-of-its-kind collaboration with the Economic Development Board (EDB) to foster relationships with local and foreign organisations relevant to its strategy.
EDB chairman Leo Yip claims the partnership will enable new digitisation capabilities and manpower development, and will "position Singapore as the digital innovation capital of Asia."
The EDB hopes that the move will show other firms the strength of the nation's digitisation system and attract business with such requirements to the country.
Digitisation has become a global trend, with corporations moving from analogue operations in human resources, sales and other areas to digital processes such as online transactions for procurement and customer engagement. It allows them to get real-time and "always on" data for faster decision-making, which has the potential to translate into better business.