The lower security solutions revenue was largely attributable to lower demand for integrated security solutions in Singapore, while improved revenue from the maintenance and leasing business was due to higher provision of maintenance support services to customers in Singapore.
SINGAPORE (May 8): IPS Securex has posted a narrowing of 3Q losses to $0.2 million, which is half of its 3Q17 loss of $0.4 million a year ago due to lower expenses and a tax write-back.
Revenue for the quarter fell 4.4% to $2.3 million from $2.4 million previously due to reduced contributions from the security solutions business, offset in part by higher revenue from the maintenance and leasing business.
