Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 118

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 16K
Chunk 118
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ITEM
16K. CYBERSECURITY

The
Company recognizes the importance of assessing, identifying and managing material risks associated with cybersecurity threats. These
risks include, among other things: operational risks, intellectual property theft, fraud, extortion, harm to employees or customers and
violation of data privacy and security laws.

We
maintain various cybersecurity measures and protocols to safeguard our systems and data and continuously monitor and assess potential
threats to pre-emptively address any emerging cyber risks. We have implemented various processes for assessing, identifying, and managing
material risks from cybersecurity threats, which areintegratedinto our overall risk management framework. These processes include access
controls to organizational systems, data encryption, and security awareness campaigns, and are designed to systematically evaluate potential
vulnerabilities and cybersecurity threats and minimize their potential impact on our organization’s operations, assets, and stakeholders.
We
engagethird-partyconsultants and specialists to enhance the effectiveness of our cybersecurity processes, augment our internal capabilities, validate
our controls, and stay abreast of evolving cybersecurity risks and best practices.
For
the year ended December 31, 2024, we didnotdetect any cybersecurity incidents that have materially affected or are reasonably likely
to materially affect us, including our business strategy, results of operations, or financial condition.

Responsibility
foroverseeing cybersecurity risks is integrated into our management team, which includes our directors and chief financial officer. We also utilize third-party service providers who are responsible for monitoring, detecting and assessing cybersecurity risks and incidents. Thesethird-party service providersare also used for certain IT-related services, where appropriate, to assess, test or otherwise assist
with aspects of our security controls. Accordingly, we also implement processes to oversee and identify material cybersecurity risks
associated with our utilization of third-party service providers on whom we have a material dependency.

Our
third-party service providers currently comprise IT professionals with expertise in risk management, cybersecurity, and information technology. These individuals have, and any future individuals are expected to have credentials relevant to their role, which includes prior experience
working in similar roles and formal education. The third-party service providers are also expected to keep abreast of cybersecurity best
practices and procedures. The third-party service providers are responsible for assessing, identifying and mitigating material cybersecurity
risks, including at a strategic level, monitoring for, defending against and remediating cybersecurity incidents and implementing and
making improvements to our overall cybersecurity strategy.

Aswedo not have a dedicated board committee solely focused