IPS Securex Holdings Limited AGM 2025: Key Takeaways for Investors

Overview of Annual General Meeting (AGM)

IPS Securex Holdings Limited held its Annual General Meeting (AGM) on 28 October 2025, at Seletar Country Club, Singapore, chaired by Mr. Ong Beng Chye. All directors, including Independent Directors Mr. Barney Lau Tai Chiau and Ms. Lee Li Ing, were present, alongside the Acting CEO Mr. Kendrick Boey, the Company Secretary, external auditors, and the Sponsor.

Resolutions Passed with Overwhelming Support

• All nine resolutions tabled at the AGM were passed with near-unanimous support (99.99% in favour).
• Financial Statements for FY ended 30 June 2025 were adopted.
• Directors’ fees for FY ending 30 June 2026 set at S\$190,216, payable half-yearly in arrears, were approved.
• Re-election of Independent Directors: Mr. Barney Lau Tai Chiau and Ms. Lee Li Ing were both re-elected, retaining their key roles in the Audit, Nominating, and Remuneration Committees. Their continued independence is confirmed for Catalist Rule 704(7) purposes.
• Messrs RSM SG Assurance LLP were re-appointed as auditors.

Special Business: Share Mandates and Capital Management

• Share Issue Mandate Approved: Directors are authorised to issue new shares up to 100% of existing share capital, with up to 50% on a non pro-rata basis. This provides significant flexibility for fundraising and corporate actions.
• Employee Share Option Scheme & Performance Share Plan: Both mandates renewed, with up to 15% of share capital allocated for each plan, incentivising key employees and aligning interests with shareholders.
• Renewal of Share Buyback Mandate: The company can buy back up to 10% of issued shares, at up to 105% of market price (on-market) or 120% (off-market). This could support share price if exercised and signals confidence in the company’s valuation.

Project Pipeline: Major Contracts and Growth Prospects

• Recent Major Wins: In 2024, IPS Securex secured a S\$12 million term contract for the design, supply, and installation of security systems for MOE Schools (Phase 1). In 2025, a further S\$17 million contract was won for Phase 2, demonstrating strong momentum in public sector security solutions.
• Ongoing Projects:
  • Carrier-neutral data centre buildings at Genting Lane (2024)
  • Security and communication upgrades for Checkpoint
  • Security system upgrades at Singapore University of Technology and Design (SUTD)
• Future Pipeline: The company is actively tendering for additional projects and expects further announcements should material opportunities arise.

Operational and Strategic Insights

• Leadership Transition: Mr. Kendrick Boey has served as Acting CEO since September 2024, after eight years with the company. The Board is closely monitoring his performance and will decide on a permanent CEO appointment when appropriate, with any decision to be announced to the market.
• Manpower and Capability: IPS Securex assures shareholders of sufficient internal and subcontractor resources to deliver on current and future contracts.
• Capital Raising: The company remains open to placements or rights issues to strengthen its balance sheet if needed, indicating potential future corporate actions that may impact share value.

Potential Price-Sensitive Information

• Significant Contract Wins: The S\$29 million aggregate MOE Schools contracts signal robust growth and revenue visibility, with further project tenders in the pipeline.
• Share Buyback Mandate: Renewal of buyback authority could support the share price if exercised, offering downside protection and demonstrating Board confidence.
• Possible Fundraising: Open consideration of placements or rights issues may result in future dilution but also supports growth and working capital.
• Leadership Stability: Pending confirmation of the permanent CEO may be a point of attention for investors.

Conclusion

Investors should note IPS Securex Holdings Limited’s continued operational momentum, robust project pipeline, and proactive capital management. The company’s flexibility to issue new shares, buy back shares, and undertake fund-raising positions it well for future growth. However, shareholders should monitor future announcements regarding new contract wins, leadership appointments, and any capital raising initiatives, as these could materially affect share value.

Contact Details

For further information, visit www.ips-securex.com or reach out to [email protected].

Disclaimer: This article is for information purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult their financial advisors before making investment decisions. The information is based on the official AGM minutes and company disclosures as of October 2025. Future developments may materially affect the company’s prospects and share price.

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