IPS Securex Holdings Limited has been awarded a contract worth approximately SGD 4.5 million by the Housing and Development Board (HDB) for the installation, leasing and maintenance of Alert Alarm Systems (AAS) for several blocks of residential housing across Singapore. The AAS is for use by elderly during emergency. The installation of the AAS is expected to commence from September 2014 and the tenure for maintenance and leasing under this HDB contract is for a period of approximately seven years from the date of completion of installation.