Cyber Security Threats:

The rise of advanced malware and DDOS botnets is reshaping the threat landscape and forcing enterprises to reassess how they protect themselves. This threat exists not only within stc but upstream through vulnerabilities in stc vendors and suppliers, and downstream, where vulnerabilities in stc may be leveraged by cyber-criminals to attack stc customers. Third-party access management is also a significant matter as we rely heavily on 3rdparty contractors with multiple Incidents reported by stc.

stc Group continues to strengthen the cybersecurity unit, internal systems and policies are developed, levels of security procedures are raised, awareness is intensified, and the effectiveness of information security plans is tested.

stc Group has established robust Cyber Assurance practices adopted for information protection and asset management as well as Established advanced penetration testing and vulnerability management capabilities.

Data Privacy

One of the biggest challenges faced by any organization is managing privacy as data volumes continue to grow and regulatory and customer scrutiny increases. It is more important than ever to be clear on the privacy risks we face to handle PII, or an individual’s right to determine what kind of data can be collected, stored, protected, and can be shared with third parties

stc Group has established a privacy framework containing policies and procedures relating to the privacy of personal information address data classification, record management, retention, and destruction as well as implemented technical solutions to set different permission levels for employees based on what PII they need to access, such as Public, Private, and Restricted Access

Resilience following Disaster, Crisis or events impacting Business Continuity:

Telcos have experienced significantly higher network demand globally during the crisis, with the initial lockdowns triggering reported traffic spikes. Partial or full-scale non-availability or quality degradation of ICT services due to telecom network failures or business support systems and other key systems. Key considerations include Disaster Preparedness Planning, Exchange equipment, undersea cable communications, and fibreoptic cable problems.

stc Group has established entity-wide written programs that address and validate the continuity of the institution’s missioncritical operations. We have recertified the organization against ISO 22301:2019 and taken all required steps to comply with any relevant regulatory requirements.

stc Group has proposed additional projects to strengthen disaster recovery (DR) systems to ensure business and services continuity, taking into account various possibilities. The Emergency Response Team oversees major contingency planning work and periodically conducts virtual experiments.

Unfavorable Regulatory Changes Impacting our Current Business Model

Regulations over our current obligations are increasing both in number, frequency, and impact and are evolving in their nature. The potential impact of these new regulations could have serious negative implications for stc’s profitability, market position and include penalties or financial liabilities.

stc Group studies the regulatory legislation on an ongoing basis, coordinates efforts with sectors related to it inside and outside stc Group, and applies the best standards to ensure the provision of the best services to its clients in a manner that achieves the objectives of the national plans. A dedicated administrative organization is established for the regulatory affairs sector to contribute to enhancing stc Group’s capabilities in the regulatory field.

Supply chain disruptions:

Material shortages and supply risks to rare earth minerals and other key components for chip manufacturing may have far-reaching consequences for continued stc technology leadership, including our ability to provide essential services and next-generation mobility as well as meet the demands of infrastructure projects upon which we have engaged.

stc Group diversifies its supply chains so that it does not depend on limited numbers of suppliers, and it also emphasizes in its contracts that the systems are compatible with each other regardless of the supplier. It also reviews the conditions of contracted companies and sets legislation to ensure their financial and operational suitability for stc Group’s requirements, in line with technological development and the integrity of their business plans

Strategy Implementation in a Dynamic Market

In order to succeed in this highly competitive and dynamic environment, it is essential to have agile strategic development, maintenance, and implementation processes capable of providing stc with a strategy for success, but also one with the agility to meet the demands on the markets in which we operate.

stc Group’s strategy is updated on a 3-yearly basis and refreshed annually to ensure that it remains current and relevant. The timing of the annual refresh and 3-yearly updates is flexible in line with context, dynamics & stakeholders’ inputs as well as we have conducted a 360-degree environmental scan competition, industry trends, regulation, socio-economic and stc performance.