Targeted aid needed to bolster SMEs’ cyber defences
PETALING JAYA: Cybersecurity is no longer merely a technological concern but a business risk that could undermine financial stability, operations and the livelihood of employees, say employers and business groups.
Malaysian Employers Federation (MEF) past president Datuk Syed Hussain Syed Husman said a major cyberattack could cripple businesses and threaten jobs with smaller firms particularly vulnerable to financial losses and prolonged operational disruptions.
He said the growing use of digital payments, cloud systems, online transactions and digital supply chains had exposed businesses to threats such as ransomware, phishing, business email compromise and data breaches.
He said smaller businesses were particularly vulnerable as many lacked the financial resources, IT personnel and expertise to strengthen their defences.
“They could also become entry points for attacks against larger companies through interconnected supply chains, contractors and service providers.
“A successful cyberattack could disrupt production, sales, payroll and customer services while leaving businesses with costly recovery bills, fraudulent transactions and compromised information.”
He urged the government to provide targeted grants, tax incentives and affordable cybersecurity support, alongside practical training and faster incident-response assistance.
Syed Hussain also pointed out that security requirements should be proportionate to a business’ size and risk exposure.
SME Association of Malaysia president Chin Chee Seong said many smaller businesses were ill-equipped to defend themselves against increasingly sophisticated cyber threats, particularly as more embraced digitalisation and became reliant on online platforms and electronic business systems.
He said most SMEs could not afford dedicated cybersecurity personnel, expensive security systems or regular assessments.
“SMEs are equally vulnerable to cyberattacks as large corporations and could even become easier targets because of inadequate protection, technical expertise and awareness.
“Prolonged disruption could threaten their business survival and may even force some to suspend operations or close permanently,” he said.
Chin called for targeted cybersecurity grants to help SMEs pay for essential security software, data backups, system upgrades and professional assessments.
Chin also proposed affordable shared cybersecurity services, greater awareness and training, simplified guidelines and faster incident-response assistance.
However, he said that businesses could not rely solely on government support and must take responsibility through regular data backups, software updates, multi-factor authentication and employee training.
Association of Private Hospitals Malaysia (APHM) president Datuk Dr Kuljit Singh said member hospitals remained vigilant and had put in place contingency measures to ensure patient care could continue in the event of an attack.
He said the hospitals had established appropriate measures to ensure medical services could continue if their systems were compromised.
General Insurance Association of Malaysia (PIAM) chief executive officer Chua Kim Soon cautioned businesses against relying solely on insurance, stressing that such coverage should complement rather than replace robust cybersecurity measures.
