New Risk • Jul 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.6m (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$2.4m free cash flow). Earnings have declined by 41% per year over the past 5 years. Market cap is less than US$10m (S$12.6m market cap, or US$9.76m). Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Reported Earnings • Feb 14
First half 2026 earnings released: EPS: S$0.001 (vs S$0.002 loss in 1H 2025) First half 2026 results: EPS: S$0.001 (up from S$0.002 loss in 1H 2025). Revenue: S$9.87m (up 94% from 1H 2025). Net income: S$301.5k (up S$1.13m from 1H 2025). Profit margin: 3.1% (up from net loss in 1H 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Feb 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -S$2.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$2.4m free cash flow). Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (S$243k sold). Market cap is less than US$100m (S$20.8m market cap, or US$16.5m). New Risk • Nov 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.6m (US$9.68m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 58% per year over the past 5 years. Market cap is less than US$10m (S$12.6m market cap, or US$9.68m). Reported Earnings • Oct 15
Full year 2025 earnings released: S$0.003 loss per share (vs S$0 in FY 2024) Full year 2025 results: S$0.003 loss per share (further deteriorated from S$0 in FY 2024). Revenue: S$11.3m (down 18% from FY 2024). Net loss: S$1.48m (down S$1.58m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Aankondiging • Oct 14
IPS Securex Holdings Limited, Annual General Meeting, Oct 28, 2025 IPS Securex Holdings Limited, Annual General Meeting, Oct 28, 2025, at 14:30 Singapore Standard Time. Location: heron room, level 2, seletar country club, 101 seletar club rd, singapore 798273, Singapore Reported Earnings • Aug 29
Full year 2025 earnings released: S$0.003 loss per share (vs S$0 in FY 2024) Full year 2025 results: S$0.003 loss per share (further deteriorated from S$0 in FY 2024). Revenue: S$11.3m (down 18% from FY 2024). Net loss: S$1.48m (down S$1.58m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Jul 16
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: S$311k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 54% per year over the past 5 years. Market cap is less than US$10m (S$4.85m market cap, or US$3.77m). Minor Risk Significant insider selling over the past 3 months (S$311k sold). Recent Insider Transactions • Jul 16
Insider recently sold S$236k worth of stock On the 11th of July, Ching Song Lim sold around 30m shares on-market at roughly S$0.008 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of S$638k more than they bought in the last 12 months. Recent Insider Transactions • Feb 19
Insider recently sold S$55k worth of stock On the 14th of February, Ching Song Lim sold around 5m shares on-market at roughly S$0.01 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of S$300k more than they bought in the last 12 months. Reported Earnings • Feb 18
First half 2025 earnings released: S$0.002 loss per share (vs S$0 in 1H 2024) First half 2025 results: S$0.002 loss per share (further deteriorated from S$0 in 1H 2024). Revenue: S$5.10m (down 14% from 1H 2024). Net loss: S$833.2k (down S$1.02m from profit in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. New Risk • Feb 13
New major risk - Revenue and earnings growth Earnings have declined by 54% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 54% per year over the past 5 years. Market cap is less than US$10m (S$5.33m market cap, or US$3.96m). Recent Insider Transactions • Jan 25
Insider recently bought S$2.1b worth of stock On the 23rd of January, Ching Song Lim bought around 400k shares on-market at roughly S$5,201 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold S$59b more in shares than they bought in the last 12 months. Board Change • Jan 23
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Barney Lau is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 10
Insider recently sold S$61b worth of stock On the 6th of January, Ching Song Lim sold around 2m shares on-market at roughly S$27,146 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of S$61b more than they bought in the last 12 months. Aankondiging • Oct 26
IPS Securex Holdings Limited Announces Re-Designations, Directorate Changes and Changes to the Composition of the Board of Directors and Board Committees The Board of Directors of IPS Securex Holdings Limited announced the following changes with effect from 25 October 2024: The Company's shareholders have approved the re-election of Mr. Ong Beng Chye as a Director at the Company's Annual General Meeting held on 25 October 2024 ("AGM"). As Mr. Ong Beng Chye has served on the Board for more than 9 years, upon his re-election at the AGM, he has been re-designated from Independent Non-Executive Chairman and Chairman of the Audit Committee to Non-Executive and Non-Independent Chairman and a member of the Audit Committee. He remains as a member of the Nominating Committee and Remuneration Committee of the Company. Mr. Chan Tien Lok and Mr. Joseph Tan Peng Chin have retired from the Board after the conclusion of the Company's AGM. Upon the Retirement, the changes are as follows: Mr. Chan Tien Lok ceased as a member of the Audit Committee, Nominating Committee and Remuneration Committee of the Company; and Mr. Joseph Tan Peng Chin ceased as the Chairman of the Nominating Committee and Remuneration Committee and a member of the Audit Committee of the Company. Mr. Barney Lau Tai Chiau ("Mr. Barney Lau") and Ms. Lee Li Ing ("Ms. Lee") have been appointed as the Independent Directors of the Company at the AGM held on 25 October 2024 ("Appointment"). Following the Appointment to the Board: Mr. Barney Lau is appointed as the Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee of the Company; and Ms. Lee is appointed as the Chairman of the Nominating Committee and Remuneration Committee and a member of the Audit Committee of the Company. Consequent to the abovementioned changes, the composition of the Board and Board Committees of the Company shall be as follows with effect from 25 October 2024: Board of Directors: Mr. Ong Beng Chye, Non-Executive and Non-Independent Chairman; Mr. Barney Lau Tai Chiau, Independent Director; Ms. Lee Li Ing, Independent Director; Audit Committee: Mr. Barney Lau Tai Chiau, Chairman; Mr. Ong Beng Chye; Ms. Lee Li Ing; Nominating Committee: Ms. Lee Li Ing, Chairman; Mr. Ong Beng Chye; Mr. Barney Lau Tai Chiau; Remuneration Committee: Ms. Lee Li Ing, Chairman; Mr. Ong Beng Chye; Mr. Barney Lau Tai Chiau. Reported Earnings • Oct 12
Full year 2024 earnings released: EPS: S$0 (vs S$0.004 loss in FY 2023) Full year 2024 results: EPS: S$0 (improved from S$0.004 loss in FY 2023). Revenue: S$13.7m (up 19% from FY 2023). Net income: S$103.6k (up S$2.11m from FY 2023). Profit margin: 0.8% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Aankondiging • Oct 11
IPS Securex Holdings Limited, Annual General Meeting, Oct 25, 2024 IPS Securex Holdings Limited, Annual General Meeting, Oct 25, 2024, at 09:30 Singapore Standard Time. Location: the singapore island country club (bukit location), 240 sime road, the habitat level 3, singapore 288303, Singapore Aankondiging • Sep 20
IPS Securex Holdings Limited Announces Appointment of Boey Teik Heng as Acting Chief Executive Officer IPS Securex Holdings Limited announced appointment of Boey Teik Heng as Acting Chief Executive Officer. Role And Responsibilities: Executive. Responsible for overall business development, strategic planning and operations of the Company and its subsidiaries. Mr. Boey is the Deputy Chief Operating Officer of Securex GS Pte Ltd, the General Security Products division of the Group. Mr. Boey joined the Group as Vice President of Operations on 1 August 2017 and was responsible for the strategic planning, overall management and business development of the General Security Products division. In March 2020, Mr. Boey was promoted to General Manager to manage the sales and operations of the General Security Products division. Mr. Boey has more than 20 years of experience in the security industry. He gained various experience in sales, service and project management related matters from managerial positions held in Johnson Controls, Tyco Fire, Security and Services, TJ Systems and Aeqon between 2005 to 2017. In particular, he was a sales director of TJ Systems Pte. Ltd. between 2014 and 2017. He is well versed in the design and implementation of integrated security management, cyber security operations and technology solutions. Mr. Boey holds a Diploma in Marketing & Sales Management awarded to him in 2011 by the PSB Academy in collaboration with the University of Cambridge. He has also completed several courses and certifications including the "AWS Certified Solutions Architect", "TAPA Facility Security Requirements (FSR) 2023 Authorised Auditor (AA)", and "ISO/IEC 27001:2013 and ISO 22301: 2019 Internal Auditor", which further adds to his qualifications and expertise. Other DirectorShips Present: Securex GS Pte. Ltd. Professional Qualifications: Diploma in Marketing & Sales Management from the PSB Academy in collaboration with the University of Cambridge. Reported Earnings • Aug 24
Full year 2024 earnings released: EPS: S$0 (vs S$0.004 loss in FY 2023) Full year 2024 results: EPS: S$0 (improved from S$0.004 loss in FY 2023). Revenue: S$13.7m (up 19% from FY 2023). Net income: S$103.6k (up S$2.11m from FY 2023). Profit margin: 0.8% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 01
IPS Securex Holdings Limited Announces Executive Changes The Board of Directors (the "Board") of IPS Securex Holdings Limited announce the appointment of Ms. Shirley Tan Sey Liy as the Company Secretary with immediate effect, in place of Ms. Sharon Lim Siew Choo ("Ms. Sharon Lim") who has resigned with effect from 1 August 2024. Board Change • Jun 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
First half 2024 earnings released: EPS: S$0 (vs S$0.003 loss in 1H 2023) First half 2024 results: EPS: S$0 (improved from S$0.003 loss in 1H 2023). Revenue: S$5.94m (up 52% from 1H 2023). Net income: S$183.2k (up S$1.42m from 1H 2023). Profit margin: 3.1% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (S$9.70m market cap, or US$7.20m). Aankondiging • Nov 17
IPS Securex Holdings Limited Announces Change of Company Secretary IPS Securex Holdings Limited announced the appointment of Ms. Sharon Lim Siew Choo as Company Secretary and the resignation of Ms. Shirley Tan Sey Liy as Company Secretary of the Company with effect from 15 November 2023. Aankondiging • Oct 27
IPS Securex Holdings Limited, Annual General Meeting, Oct 26, 2023 IPS Securex Holdings Limited, Annual General Meeting, Oct 26, 2023, at 08:30 Singapore Standard Time. Location: Heron Room, Level 2, Seletar Country Club, 101 Seletar Club Rd Singapore Singapore Agenda: To consider Audited Financial Statements and Directors' Statement for the financial year ended 30 June 2023; to consider Approval of Directors' fees amounting to SGD 150,216 for the financial year ending 30 June 2024, payable half yearly in arrears; to consider Re-election of Mr. Tan Peng Chin Joseph Haydn as a Director; and to consider other matters. Board Change • Aug 31
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Full year 2023 earnings released: S$0.004 loss per share (vs S$0.001 profit in FY 2022) Full year 2023 results: S$0.004 loss per share (down from S$0.001 profit in FY 2022). Revenue: S$11.5m (down 27% from FY 2022). Net loss: S$2.01m (down S$2.27m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. New Risk • Aug 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$12.1m market cap, or US$8.96m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (9.9% average weekly change). Board Change • Mar 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 10
First half 2023 earnings released: S$0.003 loss per share (vs S$0.001 profit in 1H 2022) First half 2023 results: S$0.003 loss per share (down from S$0.001 profit in 1H 2022). Revenue: S$3.90m (down 56% from 1H 2022). Net loss: S$1.24m (down 322% from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Board Change • Jan 31
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 11
IPS Securex Holdings Limited, Annual General Meeting, Oct 25, 2022 IPS Securex Holdings Limited, Annual General Meeting, Oct 25, 2022, at 08:30 China Standard Time. Location: Heron Room, Level 2, Seletar Country Club, 101 Seletar Club Rd, Singapore Singapore Agenda: To consider Audited Financial Statements and Directors' Statement for the financial year ended 30 June 2022; to consider directorate reelections; to consider to appoint RSM Chio Lim LLP as auditors of the Company in place of retiring auditors of the Company, KPMG LLP; and to consider other matters. Reported Earnings • Aug 26
Full year 2022 earnings released: EPS: S$0.001 (vs S$0 in FY 2021) Full year 2022 results: EPS: S$0.001 (up from S$0 in FY 2021). Revenue: S$15.8m (up 81% from FY 2021). Net income: S$263.5k (up 176% from FY 2021). Profit margin: 1.7% (up from 1.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Joseph Haydn Tan was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 14
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: S$0.001 (up from S$0 in 1H 2021). Revenue: S$8.91m (up 125% from 1H 2021). Net income: S$558.7k (up S$660.9k from 1H 2021). Profit margin: 6.3% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 18
IPS Securex Holdings Limited Announces Appointment of Lee Siew Han as Finance and Administration Director IPS Securex Holdings Limited announced appointment of Lee Siew Han as Finance and Administration Director. Ms. Lee Siew Han ("Ms. Lee") has been employed by the Group since 2013 and last held the position of Financial Controller of the Group. The Nominating Committee having reviewed and considered Ms. Lee's qualifications, work experience, performance and capabilities, is of the view that Ms. Lee is able to assume the role of Finance and Administration Director of the Group. Having regard to the above, the Board has approved the promotion of Ms. Lee from Financial Controller to Finance and Administration Director of the Group. Ms. Lee joined the Group in 2013 and is in charge of its finance and accounting operations. Ms. Lee has more than 25 years of experience in accounting and finance related matters. Before joining the Group, she had worked in the finance and administration department of IPS Group Pte. Ltd. ("IPSG") from 2011 to 2013 as deputy general manager - finance and administration with the responsibility for the management of the accounts and finance, sales administration support, purchasing, stock control and compliance functions of IPSG and its subsidiaries.