"On March 18, the incident escalated and resulted in the unauthorized disclosure of certain Company data. Following this development, management concluded that the incident may constitute a material cybersecurity event."
"Trio-Tech International sits in the nuts-and-bolts end of chipmaking, running testing and burn-in services that make sure components don't fail in the field."
"Despite saying it now may consider the cybersecurity event itself to be material, it told regulators that when it comes to operations, the incident hasn't caused material disruption."
Trio-Tech International experienced a ransomware attack at its Singapore subsidiary on March 11, initially deeming it immaterial. However, on March 18, the situation escalated with unauthorized data disclosure, prompting a reassessment of the incident's significance. The company activated its incident response plan, engaged cybersecurity experts, and notified law enforcement. Despite the breach, Trio-Tech reported no material disruption to operations and does not anticipate significant financial impact for the current quarter.
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