IPS Securex Holdings (IPS Securex) recorded a 51.6 percent decline in revenue to $2.6 million for 2Q18, as revenue for the group’s security solutions business fell 71.8 percent in the absence of the sale of acoustic hailing systems to a customer.

Meanwhile, revenue generated from the group’s maintenance and leasing business increased by 2.6 percent to $1.6 million due to the increase in the provision of maintenance support services to customers in Singapore.

As a result, the group reported a 59.7 percent decrease in net profit to $0.5 million.

Going forward, IPS Securex believes that while there is persistent threats and continued security concerns in the Asia-Pacific region, countries are still required to stay in high vigilance, which involves the continued purchase, upgrade and replacement of existing security equipment and systems, which will generate long-term demand for the group’s security products and integrated security systems.

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