TKC aims for cybersecurity sector growth in Thailand

Turnkey Communication Services (TKC), a digital solutions provider listed on the Stock Exchange of Thailand (SET), has set its sights on the cybersecurity sector, forecasting that it will account for 5% of its total income this year. This ambitious move comes as part of a broader strategy to achieve double-digit annual growth over the next five years.

TKC’s chief executive and managing director, Sayam Tiewtranon, expressed optimism about the firm’s business prospects this year, with an anticipated revenue increase of at least 10% across its eight main business segments. Despite the economic downturn, he believes that the IT market is showing significant improvement compared to previous years. This positive trend is largely due to ongoing investments in digital infrastructure and the adoption of digital solutions for public safety by the business sector.

TKC’s state-of-the-art solutions are being adopted widely across public and private sectors, with applications ranging from smart hospitals and buildings to smart farming, logistics, and learning. Sayam highlighted the immense potential of the cybersecurity market in Thailand and Southeast Asia. He acknowledged the ever-present threat of cyberattacks faced by organisations and the pressing need for robust responses and comprehensive personnel training.

In July 2023, TKC entered into a strategic partnership with EC-Council, the global frontrunner in cybersecurity education and certification. Through this exclusive memorandum of understanding, the two entities aim to provide Security Operation Centre (SOC) services to enterprises and comprehensive training programmes in Thailand. The collaboration primarily targets critical infrastructure sectors, including finance, transport, energy, telecom, hospitals, and public services.

Furthermore, TKC is also engaging with approximately 10 local state universities to integrate security skills training into their academic curriculum. Sayam emphasised that as the digital landscape continues to evolve, cybersecurity has emerged as a critical and strategic necessity for nations and organisations alike. He stressed that establishing trust is vital to facilitate the rapid digitalisation of the global economy, underpinning the growth of digital transformation, smart nations, and e-commerce.

TKC registered a total revenue of 3.8 billion baht in 2023, marking a 57% increase year-on-year. The net profit stood at 250 million baht, demonstrating a gain of 4%. The firm has a backlog value of approximately 3.2 billion baht, and 60% of this is expected to be realised this year. Currently, the private sector contributes 30% of its revenue, with the government sector accounting for the remaining 70%. However, TKC is planning to adjust this ratio to 40:60 in the coming years, reported Bangkok Post.