History

Safeguards Corporation

Safeguards Corporation has come a long way since its humble beginning in 1967 as Malaysia’s first local security company. It was the brainchild of the nation’s second Prime Minister, the late Tun Abdul Razak Hussein and was bestowed with the name ‘Safeguards’ by renowned historian and academician, the late Tan Sri Datuk Dr Haji Mubin Sheppard.

Incorporated on 3 July 1973, the company later introduced other lines of businesses apart from security services. These include printing, gas & electrical, motorcycle distribution and parcel services among others. Nevertheless, only Safeguards Security Protection (SSP), the security arm of the company remained relevant. SSP was restructured between 1995 and 1996 as Safeguards Corporation, as it is known today.

The company was listed on the Second Board of the Kuala Lumpur Stock Exchange (KLSE), now known as Bursa Malaysia on 6 June 1997. Within the same year, the Board officially appointed Darmendran Kunaretnam as the Group Chief Executive Officer of Safeguards Corporation. Through his dynamic leadership, the company ventured into other industries, which include information technology, fleet management, logistics, education as well as food and beverage.

Safeguards was elevated to the Main Board of the Bursa Malaysia on 29 March 2002, and was privatised on 17 April 2007. The company has been consistently growing and now has 13 companies and nine subsidiaries around Asia.

Milestones

  1. Setup of Safeguards as the country’s first local security company
  2. Incorporation of Safeguards
  3. Change of name from Safeguards Security Protection to Safeguards Corporation
  4. Listed on the Second Board of the Kuala Lumpur Stock Exchange
  5. Acquisition of SAITO Academy (now known as SAITO University College)
  6. Acquisition of Oceanic Freightways Sdn Bhd (now known as Safeguards Oceanic Holdings Sdn Bhd)
  7. Elevated to the Main Board of the Bursa Malaysia
  8. Merger between Safeguards’ security arm and Securicor PLC (now G4S)
  9. Privatisation of Safeguards Corporation
  10. Acquisition of MPA International Co. Ltd, beginning Safeguard Group’s regional venture and business in Cambodia
  11. Acquisition of Institut Teknologi Baiduri
  12. Acquisition of E-Pedas Sdn Bhd
  13. Formation of Multi Meridian Sdn Bhd
  14. Acquisition of Daian Security (now known as SG Safeguards Co. Ltd), beginning Safeguards’ business in Vietnam
  15. Acquisition of Safeguards Cambodia Co. Ltd
  16. Acquisition of Bholat General Services (now known as Bholat Safeguard Co. Ltd), beginning Safeguards’ business in Myanmar
  17. Acquired stake in Rex Industry Berhad
  18. Acquisition of Security Powell Co. Ltd (now known as Safeguards Thailand), beginning Safeguards’ business in Thailand
  19. The Brink’s Company purchases G4S’s share, with Safeguards Group remaining as the major shareholder
  20. Safeguards KioskMedia (M) Sdn Bhd was incorporated into Safeguards Group, beginning the Group’s kiosk business
  21. Acquisition of CL Systems Sdn Bhd (now known as SB Machines Sdn Bhd)
  22. Acquisition of PT. Manggala Kencana Jaya, beginning Safeguards Group’s security business in Indonesia
  23. Safeguards CS Sdn Bhd was formed, beginning Safeguards Group’s venture in offering interbank cash transactions services