SRT Security Services ventures into defence space

Newly appointed chairman Datuk Seri Erwan Tahir

KUALA LUMPUR: SRT Security Services Sdn Bhd, a provider of security and cash solutions, says it is venturing into defence deals with an investment of RM50mil, financed by a third-party partner, and matched by its international partner.

"Currently, negotiations are underway with a leading global defense company, with several Southeast Asian nations vying for the lucrative deal," it said in a statement.

Leading the company in this new venture, the company has appointed Datuk Seri Erwan Tahir as its new chairman.

"With his wealth of corporate experience and unwavering commitment to excellence, Datuk Seri Erwan Tahir is well-positioned to lead SRT into a new era of growth and innovation," it said.

According to the firm, the potential book order of RM1.2bil in the Asian region for 2025 underscores the immense opportunities that lie ahead.

Managing director and main shareholder Rafiq Hj Rahmat said the rise of cashless transactions has reshaped the market dynamics, especially with the surge in cashless payments following the Covid-19 pandemic.

"We remain steadfast in our commitment to continue our operations, even if it means adjusting to potential revenue fluctuations in the short term.

"Through discussions with our industry peers, we foresee a future where cash remains a preferred choice, complemented by advancements in banking infrastructure," he said.