SecurityScorecard has released its new report, The State of Cyber Resilience in Singapore, revealing that every one of Singapore’s top 100 companies by market capitalization was impacted by third-party cyber breaches over the past year. The findings underscore systemic weaknesses in digital supply chain oversight and fourth-party risk — despite relatively strong internal security ratings.
SecurityScorecard has released its new report, The State of Cyber Resilience in Singapore, revealing that every one of Singapore’s top 100 companies by market capitalization was impacted by third-party cyber breaches over the past year. The findings underscore systemic weaknesses in digital supply chain oversight and fourth-party risk—despite relatively strong internal security ratings.
Key Findings:
- 100% of Singapore’s top 100 companies experienced at least one third-party breach in the past year.
- 5% suffered a direct breach, primarily caused by malware infections.
- Companies with an “A” cybersecurity rating demonstrated strong resilience: 93% experienced no known breach.
- Only 4% of Singaporean firms were rated “C” or lower, a stark contrast to the 31% average across Europe.
- The Agriculture, Energy, and Healthcare sectors stood out, with 100% of companies earning an A grade.
- Despite high ratings overall, the Technology sector recorded the highest direct breach rate at 40%.
- The report benchmarked Singapore against international peers, including the UK, Germany, and Australia.
The companies were ranked based on various factors, such as network security, potential malware infections, and patching.
You can download the full report here.
