Latest news with #KevinWong
Sinar Daily
5 days ago
- Business
- Sinar Daily
Malaysia faces sharp rise in AI-driven cyber threats, Fortinet warns
54 per cent of organisations experienced a twofold increase in AI-enabled threats while 24 per cent saw a threefold surge in the past year. 02 Jun 2025 03:02pm Malaysia is facing a sharp rise in artificial intelligence (AI)-driven cyber threats, with nearly 50 per cent of organisations reporting incidents involving AI-powered attacks. Photo for illustrative purposes only - Canva KUALA LUMPUR - Malaysia is facing a sharp rise in artificial intelligence (AI)-driven cyber threats, with nearly 50 per cent of organisations reporting incidents involving AI-powered attacks, according to a survey commissioned by global cybersecurity firm Fortinet. The survey, conducted by the International Data Corporation (IDC) across 11 Asia-Pacific (APAC) countries, found that in Malaysia, 54 per cent of organisations experienced a twofold increase in AI-enabled threats while 24 per cent saw a threefold surge in the past year. Fortinet Malaysia Country Manager Kevin Wong said cybercriminals are increasingly leveraging AI to develop and launch attacks more quickly and effectively, moving beyond traditional methods of manual coding. "To give a sense of scale, there are up to 36,000 scam attempts occurring every second through automation, with 97 billion exploitation attempts recorded in the first half of last year alone, and AI is amplifying this trend by two to three times. "In Malaysia, the surge in AI-driven threats is evident, with over 100 billion records stolen and traded on the dark web according to IDC," he told a media briefing on Thursday. He noted that credential theft has spiked by more than 500 per cent within a year, with AI-powered phishing attacks becoming increasingly targeted and difficult to detect. "Traditional tools simply can't keep up, as fast-paced, AI-powered threats demand an equally fast and intelligent response, and that's where AI also plays a role on the defensive side," he said. Wong also noted that cyber risk has evolved from being an occasional concern to a constant and ongoing challenge. "With the rise of AI-powered threats, the nature of cyber risk itself has changed from something we respond to after it happens to something we must act on before it occurs. That is why we partnered with IDC to better understand how security leaders across Asia are navigating this evolving threat landscape, the challenges they face, and the critical gaps in organisational readiness," he said. Meanwhile, Fortinet's vice president of marketing and communications for Asia /Australia and New Zealand (ANZ), Rashish Pandey, said cybersecurity investment in Malaysia remains disproportionately low, with an average of only 15 per cent of IT budgets allocated to cybersecurity, representing just over 1 per cent of total revenue. Malaysia is facing a sharp rise in artificial intelligence (AI)-driven cyber threats, with nearly 50 per cent of organisations reporting incidents involving AI-powered attacks. Photo for illustrative purposes only - Canva "The reason cybersecurity investment remains low is that we still struggle to clearly articulate its business impact to executive teams and boards of directors. Too often, the conversation is framed in technical terms, whereas boards are looking for a discussion centred on business risk, impact, and assessment, which is why we are helping our customers reframe cybersecurity as a strategic business issue rather than just a technical one," he said. The survey also found that only 19 per cent of Malaysian organisations are highly confident in their ability to defend against AI-powered attacks, with 27 per cent stating that such threats are outpacing their detection capabilities and 20 per cent admitting they are unable to detect them at all. Ransomware remains the most frequently encountered threat, reported by 64 per cent of Malaysian respondents. Other common risks include software supply chain attacks (54 per cent), insider threats (52 per cent), cloud vulnerabilities (46 per cent), and phishing (40 per cent). The survey, conducted between February and April 2025, involved 550 IT and cybersecurity leaders from across the APAC region to assess organisational readiness in the face of escalating AI-enabled threats. - BERNAMA More Like This
Time of India
23-04-2025
- Business
- Time of India
Canada's condo crisis; survey reveals shifting investment options
Once a darling of the real estate investment scene, the condominium is facing a potential image problem among Canadians. A newly released survey by indicates a significant shift in perception, with nearly a third of respondents expressing doubt about condos retaining their status as a sound investment. The survey of 1,568 Canadians paints a concerning picture for the condo market's investment appeal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Undo A striking 57 per cent stated they would not consider purchasing a condominium for any reason, while a mere 11 per cent viewed them as a viable investment opportunity. "Investor confidence has definitely softened," observes Kevin Wong, a mortgage agent at Swivel Mortgage Group Inc. in Ontario. Live Events He notes a trend of some investors divesting from condo properties and redirecting funds towards alternative investments like the stock market or burgeoning real estate markets in regions such as Alberta. points to a confluence of factors potentially contributing to this shift. Rising inventory levels are exerting downward pressure on condo prices. While this may offer a more accessible entry point for buyers, it presents a challenge for sellers grappling with an oversupply of units. Data from Statistics Canada between 2016 and 2020 revealed that a substantial two in five condo apartments across five provinces, including Ontario and British Columbia, were utilized as investment properties. This trend was partly attributed to the relative affordability of condos compared to detached homes, attracting individuals seeking to become landlords. Notably, over half of occupied dwellings in downtown Toronto and Vancouver were condos, with a significant portion being rentals. However, the tide appears to be turning. highlights concerns surrounding a slowing rental market. Recent data from indicated a national average rent decrease of 2.8 per cent in March, averaging $2,119. This softening rental landscape, coupled with increasing costs associated with property tax and maintenance fees for condo owners, is squeezing profit margins for investors. Despite the overall dip in investment confidence, the allure of condos as an entry point into homeownership persists, particularly among younger Canadians. The survey found that 45 per cent of non-homeowners are still considering a condo purchase, including higher-income individuals earning $100,000 or more. Furthermore, 28 per cent of Canadians aged 18 to 34 remain more inclined to view condos as a good investment. "Condos are the lowest point of entry for many people," explains Wong, a sentiment echoed by Statistics Canada's 2019 data showing that a significant percentage of first-time homebuyers in British Columbia (37.8 per cent) and Ontario (16.5 per cent) opted for condos.
Associated Press
17-03-2025
- Business
- Associated Press
Nulogy's Kevin Wong Recognized in 2025 Pros to Know by Supply & Demand Chain Executive
Nulogy co-founder and COO leads the way in solving complex supply chain challenges TORONTO, March 17, 2025 /PRNewswire/ - Nulogy, a leader in collaborative manufacturing and supply chain solutions, is pleased to announce that Kevin Wong, Chief Operating Officer, has been recognized by Supply & Demand Chain Executive as a recipient of this year's Pros to Know award. This award recognizes outstanding executives whose accomplishments offer a roadmap for other leaders looking to leverage supply chains for competitive advantage. This recognition is for the Leaders in Excellence category. As COO and co-founder of Nulogy, Kevin has been a driving force behind the company's product vision and strategy, shaping purpose-built solutions that address the unique challenges of complex multi-enterprise supply chains. With deep expertise in both technology and supply chain collaboration, Kevin has been instrumental in helping Nulogy's customers—including brand manufacturers such as Colgate-Palmolive, L'Oréal and Church & Dwight—gain the visibility and agility needed to thrive in today's dynamic markets. Kevin's influence extends beyond Nulogy, as an active contributor to the broader supply chain community through his involvement in trusted industry organizations such as the Foundation for Supply Chain Solutions, the Visibility Council and Association for Supply Chain Management. With a recent focus on integrating new manufacturing productivity capabilities into Nulogy's platform through its Smart Factory solution, Kevin is committed to evolving a product offering that not only delivers real-time data visibility, but also creates shared value for all partners in an external manufacturing network. 'I'm deeply passionate about helping brand owners and their external partners work better together. Supply chains are incredibly dynamic, and strong partnerships–supported by the right, purpose-built technology–are essential for remaining competitive,' said Kevin. 'I'm excited to keep working alongside our customers to deliver solutions that make collaboration easier, faster and more valuable for everyone involved.' 'Many of today's supply chain pros are more than just leaders within their space; they're true pioneers of change. This year's list of winners really pushed the boundaries in all facets; creating, implementing, transforming, innovating, reinventing, and collaborating. They executed on all fronts, over-delivering and over-performing. They are true professionals to know in the supply chain space,' says Marina Mayer, editor-in-chief of Food Logistics and Supply & Demand Chain Executive and co-founder of the Women in Supply Chain Forum. Click here to view the full list of winners. About Nulogy Nulogy, a leading supplier of cloud-based supply chain solutions, enables customers and their supplier communities to collaborate on a multi-enterprise platform to deliver with excellence to an ever-changing consumer market. The Nulogy platform orchestrates upstream supply ecosystems composed of brands, contract manufacturers and packagers, third party logistics providers, and raw material and packaging suppliers to accelerate supply chain responsiveness and agility at the speed of today's market. About Supply & Demand Chain Executive Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development and more. Supply & Demand Chain Executive and its sister publication, Food Logistics, also operate SCN Summit and the Women in Supply Chain Forum. Go to to learn more.
