Kelvin Lim Ching Song, executive director and group CEO of security solutions firm IPS Securex Holdings, sold about 2.07 million shares for about $251,365, or 12.171 cents each, on Aug 27. With the sale, Lim is left with around 58 million shares, equivalent to a stake of 11.97%, down from 12.39% before the sale.

Shares of IPS Securex have gained steadily in recent months. Year to date, they are up around 150%. Just a day before Lim sold his shares, the company announced earnings of $2 million for the full-year ended June 30, reversing from losses of $1.2 million in the preceding year. Revenue in the same period more than doubled to $19.3 million.

In his earnings commentary, Lim noted that the Covid-19 pandemic has caused unprecedented challenges not just to IPS Securex, but to global markets and industries as well. “However, our recent turnover growth demonstrates that security remains critical and essential to our customers despite the occasional project delay. Given today’s complex threat scenario, customer needs are constantly evolving and our role is to understand these needs and to provide relevant, leading-edge security products and solutions that address their individual situations,” he adds.

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