"Notwithstanding the decline in revenue in 1HFY2025, costs in general for the period had stayed high," adds IPS Securex, which expects to report by Feb 14.
Separately, since last October, the company's former CEO Kelvin Lim Ching Song has been steadily cutting his stake in the company by selling his shares in the open market.
Lim, who tendered his resignation last May, last sold on Jan 23, leaving him with around 42.87 million shares, equivalent to 8.84%.
Last October, before he started selling, he held more than 58 million shares, or 11.97%.
See also: Sleeper issues in China's trade
IPS Securex shares last traded at 1.3 cents, down 35% in the past 12 months.
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