SINGAPORE (Sept 22): Secura Group, the provider of security products, says its wholly-owned subsidiary Soverus has been awarded a two-year security services contract worth $7.9 million by Singtel.

From Oct 1 to Sept 30 2018, Soverus will provide the telco unarmed security guarding services at certain Singtel premises for the amount of S$7.2 million.

The remaining provisional amount of S$0.7 million will be for “additional security services”, says Secura in a Wednesday release.  

Soverus provides unarmed, manned security guarding services for commercial and high value industrial premises, residential properties and other buildings such as data centres, embassies and hotels.

Secura’s CEO, Paul Lim, says this is one of the group’s largest contract wins to date.

“[The latest contract win] is a strong endorsement and recognition of the expertise and the ‘Soverus’ brand that we have built in a relatively short span of five years,” says Lim. “We believe this will open up more opportunities with other organisations for our services.”

As of Sept 21, the Secura’s order book stands at S$27.9 million, of which S$23.1 million is expected to be fulfilled by Dec 31 2017 and the remainder by April 2020.

Shares of Secura closed 1.73% lower on Wednesday (Sept 21) at 17 Singaporean cents.