SINGAPORE (Oct 18): IPS Securex said on Friday that its trade receivables had fallen by 40% from $10.6 million at June 30 to $6.3 mil on Oct 14 after customers paid after its book closure date.

RHB Research noted that IPS Securex’s management had also guided that its trade receivables will reduce further in the next few months.

Jarick Seet, RHB’s analyst, said in a note on Tuesday that the group’s customers for its receivables have signed agreements to make repayments in instalments from Aug 2016 to Sept 2018, with an initial payment of $700,000 paid in Aug.

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