Record FY17 for IPS Securex?

SINGAPORE (Aug 24): RHB is maintaining its “buy” call for IPS Securex, with a target price of 40 cents as the company expects to book a record performance in FY17.

Despite a dismal FY16 that was attributed to a delay in orders and payment of Pepperball products by an unnamed government, analyst Jarick Seet expects IPS to recognise at least US$15 million ($20.3 million) in Pepperball orders in FY17, following guidance from management that a solution has been found.

Seet also notes that Hyperspike delivery orders are on track, with potential new order wins.

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