Servers crash, data corrupted as cyber-attack hits Dewan Farooque Motors Limited

Dewan Farooque Motors Limited (DFML) said its corporate data “have been corrupted badly” while “IT servers crashed” due to a cyber-attack.

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“In continuation of our earlier letter dated November 26, 2024 wherein we informed that the meeting of the Board of Directors is to be reconvened on November 28, 2024.

“We regret to inform you that owing to malware and cyber-attack our IT servers have been crashed and data have been corrupted badly, resulting in postponing the board meeting,” the automaker said in its notice.

DFML informed its stakeholders that the information system and financial data, including that of the 1st Quarter ended September 30, 2024, are required to be restored which will take considerable time.

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“Accordingly, you are informed that the board meeting has been postponed till the time of its restoration,” it said, adding that a fresh date for the board meeting will be conveyed later.

“Any inconvenience caused meanwhile is sincerely regretted.”

Following the development, DFML’s share price plunged to Rs.38.44, a decrease of Rs1.34 or 3.37%.

A cyber-attack is an assault launched by cybercriminals using one or more computers against a single or multiple computers or networks. A cyber attack can maliciously disable computers, steal data, or use a breached computer as a launch point for other attacks.

Earlier in April, corporate data of Pak Suzuki Motor Company (PSMC) got “leaked” due to a cyber-attack.

“Initial investigations suggest that data related to HR, financials, etc., from a server, has been port out to public IP (Internet Protocol),” PSMC said in a statement back then.

“We have onboarded a security consultant for detailed forensic assessment and eliminating potential security threats from the entire infrastructure,” the automaker said, adding that detailed findings will be concluded after the completion of the assessment.