KUALA LUMPUR: Time Engineering Bhd has inked an agreement with Laos-based Datacom Co Ltd to provide data security for the central bank of Laos.
The agreement was signed in Vientiane recently by Time Engineering chief executive officer Steven Lim Kee Seng and his Datacom counterpart, Thanongsinh Kanlagna.
“This is our first venture into Laos. This cooperation will also be beneficial to Datacom, in terms of business,” Lim said.
He added that there would be a transfer of technology to financial institutions in Laos on data security.
“E-commerce is becoming increasingly important in this part of the world and it needs to be secure.
“This is where we intend to play a pivotal role, having both the experience and expertise in this area, and leveraging on it,” Lim told Bernama.
He said the agreement would make the central bank of Laos one of the first national banks in Indochina to embrace data security.
Two Datacom staff would be based in Malaysia for a six-month period for training on data security system, Lim said. “This a pilot project. It is just the start of something new for Laos. There is a lot of scope for it to be explored in terms of business ventures.”
Thanongsinh said the agreement would enable Laos to train its citizens not only on data security but also various other information and communications technology (ICT) applications. “ICT is important for all segments of society as it is applicable in all sectors. We are seeing a boom in the ICT sector and welcome Time Engineering’s efforts to tap into it.” — Bernama
