New Risk • Jun 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.30m (US$9.63m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€8.30m market cap, or US$9.63m). Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Revenue is less than US$5m (S$1.9m revenue, or US$1.5m). Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Director Louis Lui was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공고 • Apr 10
IPC Corporation Ltd, Annual General Meeting, Apr 27, 2026 IPC Corporation Ltd, Annual General Meeting, Apr 27, 2026, at 14:00 Singapore Standard Time. Location: kensington ballroom at serangoon, garden country club, 22 kensington park rd, singapore 557271, Singapore 공고 • Apr 14
IPC Corporation Ltd, Annual General Meeting, Apr 29, 2025 IPC Corporation Ltd, Annual General Meeting, Apr 29, 2025, at 14:00 Singapore Standard Time. Location: kensington ballroom, serangoon garden country club, 22 kensington park rd, singapore 557271, Singapore Buy Or Sell Opportunity • Jul 27
Now 31% undervalued Over the last 90 days, the stock has risen 21% to €0.049. The fair value is estimated to be €0.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Earnings per share has grown by 53%. Buy Or Sell Opportunity • Jul 05
Now 35% undervalued Over the last 90 days, the stock has risen 12% to €0.046. The fair value is estimated to be €0.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Earnings per share has grown by 53%. Buy Or Sell Opportunity • May 24
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to €0.041. The fair value is estimated to be €0.053, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Earnings per share has grown by 53%. 공고 • Apr 12
IPC Corporation Ltd, Annual General Meeting, Apr 29, 2024 IPC Corporation Ltd, Annual General Meeting, Apr 29, 2024, at 14:00 Singapore Standard Time. Location: Serangoon Garden Country Club, 22 Kensington Park Rd Singapore Singapore Agenda: To consider director's Statement and Audited Financial Statements for the year ended 31 December 2023; to re-elect Ms Lauw Hui Kian as a Director; to re-elect Mr Tan Cher Liang as a Director; to approve Directors' fees amounting to S$124,000.00; to re-appoint Ernst & Young LLP as Auditors; and to consider and approve other matters of business. Reported Earnings • Mar 01
Full year 2023 earnings released: S$0.007 loss per share (vs S$0.088 loss in FY 2022) Full year 2023 results: S$0.007 loss per share (improved from S$0.088 loss in FY 2022). Net loss: S$631.0k (loss narrowed 92% from FY 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Feb 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (€5.95m market cap, or US$6.41m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (S$2.3m revenue, or US$1.7m). Reported Earnings • Jul 31
First half 2023 earnings released: S$0.064 loss per share (vs S$0.029 loss in 1H 2022) First half 2023 results: S$0.064 loss per share (further deteriorated from S$0.029 loss in 1H 2022). Net loss: S$5.43m (loss widened 121% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 14
Full year 2022 earnings released Full year 2022 results: Net loss: S$7.54m (loss narrowed 15% from FY 2021). Reported Earnings • Mar 03
Full year 2022 earnings released: S$0.088 loss per share (vs S$0.10 loss in FY 2021) Full year 2022 results: S$0.088 loss per share (improved from S$0.10 loss in FY 2021). Net loss: S$7.54m (loss narrowed 15% from FY 2021). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Lead Independent Director Sebastian Tan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Net income: (up S$4.72m from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Lead Independent Director Sebastian Tan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 17
Full year 2021 earnings released: S$0.10 loss per share (vs S$0.33 loss in FY 2020) Full year 2021 results: S$0.10 loss per share (up from S$0.33 loss in FY 2020). Net loss: S$8.85m (loss narrowed 69% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. 공고 • Apr 13
IPC Corporation Ltd, Annual General Meeting, Apr 28, 2022 IPC Corporation Ltd, Annual General Meeting, Apr 28, 2022, at 13:00 China Standard Time. Agenda: To receive and adopt the Directors' Statement and the Audited Financial Statements of the Company for the year ended 31 December 2021 together with the Auditors' Report thereon; to re-elect the Directors; to re-appoint the executives; to approve the payment of Directors' fees of SGD 124,000.00 for the year ended 31 December 2021; to re-appoint Ernst & Young LLP as the Auditors of the Company and to authorize the Directors of the Company to fix their remuneration; and to transact any other ordinary business which may properly be transacted at an Annual General Meeting Authority to allot and issue new shares. Reported Earnings • Feb 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: S$0.10 loss per share (up from S$0.33 loss in FY 2020). Net loss: S$8.85m (loss narrowed 69% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 05
First half 2021 earnings released: S$0.055 loss per share (vs S$0.26 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: S$1.31m (up 157% from 1H 2020). Net loss: S$4.72m (loss narrowed 79% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Executive Departure • May 04
Lead Independent Director has left the company On the 29th of April, Kiang Kok Teo's tenure as Lead Independent Director ended after 3.8 years in the role. We don't have any record of a personal shareholding under Kiang Kok's name. Kiang Kok is the only executive to leave the company over the last 12 months. 공고 • Mar 07
IPC Corporation Ltd Appoints Tan Cher Liang as an Independent Director The Board of Directors of IPC Corporation Ltd. having reviewed the experience and credentials of Tan Cher Liang is satisfied that Mr. Tan has the requisite experience and capability to assume the role of an Independent Director. Mr. Tan is currently an Independent Non-Executive Director of Ezra Group Limited, Food Empire Holdings Limited, Jumbo Group Limited, Kingsmen Creatives Limited, Vibrant Group Limited and Wilton Resources Corporation Ltd, all listed on the Singapore Stock Exchange. Reported Earnings • Jan 30
Full year 2020 earnings released Full year 2020 results: Net loss: S$28.4m (loss widened 70% from FY 2019).