COMPANY OVERVIEW: IPS SECUREX HOLDINGS LIMITED

IPS Securex Holdings Limited, provides security products and integrated security solutions and operates through two segments, Security Solutions Business and Maintenance and Leasing Business. It is based in Singapore and operates in Singapore, Vietnam, Brunei, Thailand, Indonesia, and Malaysia and was founded in 1986. This company designs, supplies, installs, tests, commissions, maintains, and leases security products and integrated security solutions to address security requirements, like checkpoint security, law enforcement, and the protection and surveillance of buildings and critical infrastructure, etc. First segment offers homeland security products, including acoustic hailing devices, border security equipment, cargo and personnel scanning systems, CBRNE equipment and solutions, non-lethal countermeasure systems, port security equipment, and vehicle inspection systems, as well as IT solutions, including mobile work-flow systems and avian radar flight safety systems and also provides general security products, such as access control equipment, audio video intercom systems, bio-metric identification systems, electronic car parking systems, CCTV camera solutions, intruder detection systems, PA systems, panic duress systems, and video torchlight equipment and integrated security solutions. 

This segment offers its homeland security products to government bodies and agencies, such as police and other law enforcement agencies; and general security products to commercial entiti es, private consumers, and government bodies and agencies, as well as installed in various buildings, and at critical infrastructure facilities in townships. The second segment provides regular extended and ad-hoc maintenance support services and leasing services for security products and integrated security solutions.

Return on Equity	23.93%
Net Asset Value	SGD 11.675
Market Cap	SGD 137.7 m

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	9.488	12.446	14.423
Gross Profit	4.025	6.012	7.19
Net Income	1.718	1.114	1.789
EBITDA	1.957	2.73	3.601
Total Assets	4.532	14.102	17.697
Total Liabilities	1.498	5.855	6.022

 FINANCIAL VIEW

• The ratio of asset and liability is increasing as y-o-y figures are considered.
• The net income is continuously increasing, as well as Gross Profit is also increasing.

SGX Symbol	41E	Currency	SGD
Last Done	0.320	Volume(‘000)	1958
Day’s Range	0.280-0.325	52 Weeks’ Range	0.08-0.325

 TECHNICAL INDICATORS:

Daily Chart: If resistance will be broken alongwith increasing volumes above 0.325 in daily chart then it will continue its major uptrend. Also, according to the bollinger band principles, there is a breakout in this counter. RSI is also indicating that its had come in a oversold region and now its time for a rebound. And there will also be a breakout on the O.B.V. Indicator, which has been consolidating from a lot of time.

Weekly Chart: There will be breakout for this counter above 0.325 after a consolidation of 3-4 weeks. Also, if 0.325 will be crossed then there will be a MACD crossover, indicating bullish trend.

S1	S2	R1	R2
0.295	0.270	0.325	0.360

Our VIEW: Overall Trend: Overall trend seems to be positive with some minor corrections, if any.
Short term View: BULLISH above 0.325 with support @ 0.295.

Long term View: BULLISH above 0.360 with support @ 0.325.