IPS Securex to buy public address, security surveillance businesses for S$1.9m in cash
IPS Securex has agreed to buy two public address and security surveillance businesses for S$1.87 million in cash, which will be paid for using internal resources and bank loans.
IPS, a supplier of security equipment and services, will buy all of Yatai Security & Communications and Avac Systems from father-and-son owners Lim Ang Seng and the younger Lim Bang Quan. Both vendors will have to observe a three-year moratorium against potentially competing activities.
The businesses have been involved in various large scale projects such as the supply and installation of the public address system for the Kallang Paya Lebar Expressway and the upgrade and servicing of closed-circuit video systems at Raffles City. Yatai had net profit of S$828,000 in 2015, while Avac had a net loss of S$34,000.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
S&P Global first-quarter profit beats estimates on strong product demand
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources