IPS Securex wins US$1.48m maintenance contract

SECURITY firm IPS Securex Holdings said its unit, IPS Securex Pte Ltd, has inked a contract with a customer in South-east Asia to provide maintenance support services for certain integrated security solutions.

The contract is valued at approximately US$1.48 million (S$2.03 million). The unit will be providing maintenance support services for a three-year period starting from Jan 1, 2019, to Dec 31, 2021.

IPS Securex chief executive officer Kelvin Lim said: "The maintenance contract helps to build up the recurrent income of our maintenance and leasing business. As we expand our maintenance and leasing business, we will continue to explore the opportunities in both areas of homeland security solutions and general security solutions in Asia-Pacific."

The contract is not expected to have a material financial effect on the earnings per share and net tangible assets per share of the group for the financial year ending June 30, 2019.