Security firm Secura Group is readying for a Catalist listing early next year as it moves to expand its homeland and cyber security businesses.
The company, which lodged its offer document yesterday, provides guard services and security printing of items like cheque books and parking coupons.
Secura chief executive Paul Lim told The Straits Times: "We have been a distributor of Morpho's explosive trace and radiation detection products in Singapore, Cambodia and Laos since May. This year we also started our cyber security business, and we now represent several reputable providers from the United States such as Dell and Rapid7.
"These are our largest growth driver, with a lot of latent demand. A new research and development centre for these services is on the cards."
The new segments generated around $311,000 in revenue last year and $421,000 in just the first half of this year.
Last year, Secura reported net profit of $8.17 million on the back of $30.41 million in revenue, which included a $5 million one-off gain from a property sale. Revenue in the first half of this year was $16.15 million, with net profit coming in at $1.77 million.
Guarding services contributed around 50.5 per cent of Secura's revenue last year. The company will not lose its focus on these core units, Mr Lim said.
"For guarding, we have only about 1 per cent of the Singapore market so we have a lot of upside potential. We intend to acquire a more sophisticated command control rostering system for our guarding services."
Mr Lim added that Secura will offer investors the exposure to the only full-suite security business in Singapore. The company is smaller than big operators such as Certis Cisco and Aetos, but it offers a wider range of services, including private investigation and bodyguards, he added.
Secura is backed by billionaire Peter Lim, who owns a 53.8 per cent share through Krestel Investments. Local tycoons Wee Ee Chao and Kwek Leng Beng are also shareholders.
The company was formed in August following the merger of security consulting company Soverus and security printing firm Secura.
Mr Lim joined Soverus in 2010 as chief executive after a 19-year stint with the Singapore Police Force.
The security veteran is not concerned about the weak stock market conditions Secura is facing, saying: "There's never a perfect time for listing. What's important is that we are ready to take Secura to the next level.
"More importantly, security is about credibility, and getting listed will build our brand name and enhance our corporate image here and overseas."
