Kelvin Lim Ching Song, the former executive director and CEO of IPS Securex has pared his stake in the company to 9.39% from 10.29%.

 

Lim sold his shares via the market on two occasions.

 

On Jan 2, Lim sold 3.27 million shares for $45,971.98 or 1.41 cents apiece. The move reduced his stake to 9.62% from 10.29% before. On Jan 3, Lim sold another 1.1 million shares for $14,300 or 1.3 cents per share, paring his stake to 9.39%.

 

Lim&rsquo s direct interest includes 130,000 ordinary shares that are held under UOB Kay Hian Nominees Pte. Ltd.

 

IPS Securex announced Lim&rsquo s resignation from his roles as executive director and CEO on May 8, 2024. According to the filing, Lim was leaving to pursue his personal interests and spend more time with his family. Lim then served a notice period till Nov 3, 2024.

 

Lim was the company&rsquo s executive director and CEO from Oct 10, 2013.

 

IPS Securex appointed Boey Teik Heng as its acting CEO in September 2024.

IPS Securex, a wholly-owned subsidiary of IPS Securex Holdings Limited, has been awarded a $12.0 million security contract to design, supply and install security systems.

 

According to an Aug 19 bourse filing, the contract is expected to be completed by Feb 28, 2026.

 

Offshore and marine firm ES Group (Holdings) was hit by a ransomware attack, compromising encrypted information.

 

In its announcement on Jan 5, the company says the incident impacted the " majority" of its data in its servers but that citing " ongoing investigations" the " threat has been contained" .

 

Thus far, there has been no significant impact on its business and operations arising from the incident, and its business and operations continue to be operational as usual, says ES Group.

 

The company adds that it has activated its business continuity plan and has taken actions such as disconnecting its systems from the network, engaging external help to assist with the investigations, as well as containment, remedial and data recovery efforts.

 

It has also lodged reports to the police, the Personal Data Protection Commission and the Singapore Cyber Emergency Response Team.

 

Further investigations are ongoing.

 

The cyber incident announced by ES Group is the second ransomware attack reported a Singapore-listed company in less than a week.

 

Earlier, on Jan 2, IPS Securex Holdings said it encountered a ransomware incident and that its network was made inaccessible.

 

The company, which provides security systems and services, has initiated recovery operations. Based on its initial probes, IPS Securex has yet to see any evidence of data exfiltration from the attack.

 

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In its Jan 5 response to specific queries from the Singapore Exchange S68 -0.41% , IPS Securex says that the incident occurred on Dec 26 2023.

 

It maintains that for now, there is no " material impact" on its operations and financials from the attack.