Things have certainly changed for the Secura Group since its inception in 2008 as the private security company Soverus. After struggling to climb out of the red for two years, its CEO, Mr Paul Lim, completely overhauled and restructured the company, transforming it into a key player in the security solutions industry. Under his leadership, the company has grown from a one-man-show to 1,000 employees, doubling its revenue year-after-year and expanding its presence to five countries across Asia.
The turnaround required investing heavily in building systems and structures, as well as hiring the right people to fill key positions. The firm expanded from offering security guard services, security systems, security consultancy, and private investigations, to cyber-security, IT and mobile forensics, and homeland security.
Mr Lim believes a correct balance of organic and inorganic growth strategies in enhancing their suite of security services is key to business sustainability — especially with the advent of the Internet of Things and the growth of smart cities.
In January 2016, the companies under Soverus Group and Secura Singapore merged to become part of Secura Group, which was subsequently listed on the SGX-Catalist with a market capitalisation of S$100 million. In June, Secura Group acquired veteran cyber security company RedSentry.