Aankondiging • Jun 24
Aw Cheok Huat acquired acquisition of an additional 16.35% stake in ICP Ltd. (Catalist:5I4) Aw Cheok Huat proposed to acquire an additional 39.9% stake in ICP Ltd. (Catalist:5I4) for SGD 12.4 million on April 19, 2025. A cash consideration of SGD 0.009 per share will be paid by the buyer. The Offeror is deemed interested in 1,910,252,777 Shares approximately 57.16% of the total number of issued Shares and Concert Party Group holds additional 100,000,000 shares which equates to approximately 60.20% shares in ICP. The buyer has sufficient financial resources available to satisfy full acceptance of the Exit Offer.
In the event that the Offeror receives valid acceptances pursuant to the Exit Offer in respect of not less than 90% of the total number of issued Shares the Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Exit Offer at a price equal to the Exit Offer Price.
The transaction is conditional upon ICP having obtained Shareholders Approval and SGX-ST agreeing to the application by ICP to delist from the Official List of the Catalist Board of the SGX-ST. As of June 9, 2025, the Offeror wishes to announce, that the condition to the Exit Offer has been fulfilled and the Exit Offer has therefore become and is hereby declared unconditional in all respects on the date of this Announcement. The Offeror has received valid acceptances of the Exit Offer in respect of an aggregate of 116,494,809 Offer Shares, representing approximately 3.49% of the total number of issued Shares. Accordingly, the Exit Offer will remain open for acceptance until 23 June 2025. The Offeror will not extend the Exit Offer beyond the Closing Date. Acceptances received after the Closing Date will be rejected. As of June 20, 2025 The Board wishes to announce that the SGX-ST has informed the Company through the Sponsor on 20 June 2025 that, based on the Company's submissions and representations to the SGX-ST, the SGX-ST has no objection to the Delisting subject to the Company making an immediate announcement of the proposed Delisting.
Aw Cheok Huat completed acquisition of an additional 16.35% stake in ICP Ltd. (Catalist:5I4) on June 23, 2025. Aankondiging • Dec 12
ICP Ltd. Appoints Ms. Lai Ven Li as Independent Non-Executive Director, Chairwoman of Audit Committee, Member of Nominating Committee and Member of Remuneration Committee The board of directors of ICP Ltd. announced appointment of Ms. Lai Ven Li as Independent Non-Executive Director - Chairwoman of Audit Committee - Member of Nominating Committee - Member of Remuneration Committee. Working experience includes June 2021 - August 2022, TrustCapital Advisors Investment Management Pte. Ltd. - Partner; and April 2009 - November 2020, CIMB Bank Singapore - Head of Corporate Banking. Other DirectorShips Past include 1. 3Cnergy Limited 2. Bluechip Capital Pte. Ltd. (Struck off). Other DirectorShips Present include Avarga Limited. Professional Qualifications include Bachelor of Commerce (Accounting and Finance), The University of Western Australia - Fellow CPA Australia and Chartered Accountant Malaysia. Other DirectorShips Past Directorships: 1. 3Cnergy Limited 2. Bluechip Capital Pte. Ltd. (Struck off), Other DirectorShips Present Directorship: 1. Avarga Limited, Director Experience Details Lead Independent Director of Avarga Limited - Lead Independent Director of 3Cnergy Limited. Appointment Date December 12, 2024. Consequent to the abovementioned change, the composition of the Board and Board Committees with effect from 12 December 2024 are as follows: Board of Directors: Mr. Koh Tien Gui as Independent Non-Executive Chairman; Mr. Aw Ming-Yao Marcus as Executive Director; Ms. Jean Tan as Independent Director; Ms. Lai Ven Li as Independent Director; Audit Committee: Ms. Lai Ven Li as Chairwoman, Independent Director; Mr. Koh Tien Gui as Independent Director; Ms. Jean Tan as Independent Director; Nominating Committee: Mr. Koh Tien Gui as Chairman, Independent Director; Ms. Jean Tan as Independent Director; Ms. Lai Ven Li as Independent Director; Remuneration Committee: Ms. Jean Tan as Chairwoman, Independent Director; Mr. Koh Tien Gui as Independent Director; and Mr. Lai Ven Li as Independent Director. Buy Or Sell Opportunity • Oct 24
Now 66% undervalued The stock has been flat over the last 90 days, currently trading at €0.0035. The fair value is estimated to be €0.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Oct 18
ICP Ltd. Announces Change in the Board and Board Committees, Effective 30 October 2024 ICP Ltd. announced the following change in the composition of the board and relevant board committees with effect from 30 October 2024. The board announced that Mr. Tan Kok Hiang (Mr. Tan) will not be seeking re-election and will retain office until the conclusion of the forthcoming annual general meeting to be held on 30 October 2024. Accordingly, he will retire as an Independent Director of the Company and step down as the Non-Executive Chairman of the Board and Audit Committee, Member of Nominating Committee and Remuneration Committee respectively. The board also announced that Mr. Koh Tien Gui will be re-designated as the non-executive chairman of the board following the retirement of Mr. Tan. In view of the above, the composition of the board and relevant board committees with effect from 30 October 2024 are as follows: Audit Committee: Ms. Jean Tan, Independent Director; Mr. Koh Tien Gui Independent Director. Nominating Committee: Mr. Koh Tien Gui, Chairman, Independent Director; Ms. Jean Tan, Independent Director. Remuneration Committee: Ms. Jean Tan, Chairwoman, Independent Director; Mr. Koh Tien Gui, Independent Director. Reported Earnings • Oct 16
Full year 2024 earnings released: EPS: S$0 (vs S$0 in FY 2023) Full year 2024 results: EPS: S$0 (in line with FY 2023). Revenue: S$9.73m (up 19% from FY 2023). Net loss: S$1.42m (down 363% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 16
ICP Ltd., Annual General Meeting, Oct 30, 2024 ICP Ltd., Annual General Meeting, Oct 30, 2024, at 11:00 Singapore Standard Time. Location: fort room, singapore swimming club, 45 tanjong rhu rd, singapore 436899, Singapore Aankondiging • Oct 15
ICP Ltd. Announces Retirement of Tan Kok Hiang as an Independent Director ICP Ltd. announced that pursuant to Regulation 109 of the Company's Constitution, Mr. Tan Kok Hiang is due for re-election by rotation at the forthcoming Annual General Meeting of the Company to be held on 30 October 2024. He will not be seeking re-election and will retain office until the conclusion of the forthcoming AGM as part of the Board renewal process. Accordingly, he will retire as an Independent Director of the Company and step down as the Non-Executive Chairman of the Board and Audit Committee, and Member of Nominating Committee and Remuneration Committee respectively. Other DirectorShips Past: Public Listed Company: 1. Enviro-Hub Holdings Ltd. 2. LHT Holdings Limited Private Company: 1. Dragafi Asia Pacific Pte. Ltd. 2. Palprints Pte. Ltd. (Struck off) 3. Printer Supplies Pte. Ltd. (Struck off) 4. I-Cut Pte. Ltd. (Struck off) 5. Fei Long Resources Pte. Ltd. (Struck off) 6. Ultima Investment Holding Pte. Ltd. (Struck off) 7. Cairnhill Capital Partners Pte. Ltd. (Struck off). Other DirectorShips Present: Public Listed Company: 1. Abundante Limited Private Company: 1. Pacific Traders Private Limited 2. Fullmark Pte. Ltd. 3. Navisteps Pte. Ltd. 4. Kwong Joo Kongsi 5. State Grid International Singapore Private Limited. Reported Earnings • Aug 30
Full year 2024 earnings released Full year 2024 results: Revenue: S$9.73m (down 2.6% from FY 2023). Net loss: S$1.42m (down 234% from profit in FY 2023). New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (€18.4m market cap, or US$20.6m). Aankondiging • Aug 23
ICP Ltd. to Report Fiscal Year 2024 Results on Aug 29, 2024 ICP Ltd. announced that they will report fiscal year 2024 results on Aug 29, 2024 Reported Earnings • Feb 12
First half 2024 earnings released: EPS: S$0 (vs S$0 in 1H 2023) First half 2024 results: EPS: S$0 (in line with 1H 2023). Revenue: S$6.07m (up 26% from 1H 2023). Net income: S$399.0k (down 65% from 1H 2023). Profit margin: 6.6% (down from 24% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 07
ICP Ltd. Announces the Appointment of Tan Guanjie (Jean Tan) as Non-Executive and Independent Director, Chairwoman of Remuneration Committee, Member of Audit Committee, Member of Nominating Committee The Board of Directors of ICP Ltd. announced the appointment of Ms. Tan Guanjie (Jean Tan) (Ms. Tan) as a Non-Executive and Independent Director of the Company with effect from 6 November 2023. Job Title: Independent Director - Chairwoman of Remuneration Committee - Member of Audit Committee - Member of Nominating Committee; Working Experience: February 2021 - present: Corporate Affairs Director, Asia & Global Emerging Markets, Mars Wrigley /Mars Incorporated August 2019 - January 2021: Independent Consultant & Special Adviser, Landmark Public Affairs August 2018 - July 2019: Managing Partner, Anna Whitlam People December 2016 - August 2018: Director, Brunswick Group April 2006 - November 2016: Various roles, InterContinental Hotels Group (final role with IHG was VP Communications, Asia Middle East & Africa). Other Directorships Past: Independent Consultant & Special Adviser, Landmark Public Affairs Managing Partner, Anna Whitlam People. Other Directorships Present: Director of Corporate Affairs, Asia & Global Emerging Markets Mars Wrigley /Mars Incorporated Director, Arkayla Pte Ltd. Audit Committee: Mr. Tan Kok Hiang, Chairman, Independent Director; Mr. Koh Tien Gui, Independent Director; Ms. Tan Guanjie (Jean Tan), Independent Director; Nominating Committee: Mr. Koh Tien Gui, Chairman, Independent Director; Mr. Tan Kok Hiang, Independent Director; Ms. Tan Guanjie (Jean Tan), Independent Director; Remuneration Committee: Ms. Tan Guanjie (Jean Tan), Chairwoman, Independent Director; Mr. Koh Tien Gui, Independent Director; Mr. Tan Kok Hiang, Independent Director. New Risk • Oct 11
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €712k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (29% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Significant insider selling over the past 3 months (€712k sold). Market cap is less than US$100m (€16.1m market cap, or US$17.1m). Reported Earnings • Oct 05
Full year 2023 earnings released: EPS: S$0 (vs S$0 in FY 2022) Full year 2023 results: EPS: S$0 (in line with FY 2022). Revenue: S$9.98m (up 95% from FY 2022). Net income: S$1.06m (up S$2.29m from FY 2022). Profit margin: 11% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Market cap is less than US$100m (€20.5m market cap, or US$22.2m). Reported Earnings • Aug 30
Full year 2023 earnings released Full year 2023 results: Revenue: S$9.98m (up 95% from FY 2022). Net income: S$1.06m (up S$2.29m from FY 2022). Profit margin: 11% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Aug 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Market cap is less than US$100m (€15.8m market cap, or US$17.2m). Aankondiging • Jul 12
Aw Cheok Huat acquired a 23.20% stake in ICP Ltd. (Catalist:5I4) for SGD 5.4 million. Aw Cheok Huat acquired a 23.20% stake in ICP Ltd. (Catalist:5I4) for SGD 5.4 million on July 11, 2023. Pursuant to transaction, Aw Cheok Huat paid SGD 0.007 cash per share for 773,215,571 shares of ICP. In a related transaction, Aw Cheok Huat made a mandatory conditional offer to acquire remaining shares of ICP Ltd. Stirling Coleman Capital Limited acted as financial advisor of ICP.
Aw Cheok Huat completed the acquisition of a 23.20% stake in ICP Ltd. (Catalist:5I4) on July 11, 2023. Aankondiging • Jul 06
Icp Ltd. Announces Executive Changes ICP Ltd. announced that Tan Kok Hiang be removed as Independent Non-Executive Chairman and director, Koh Tien Gui be removed as director, Ong Kok Wah be removed as director at its EGM to be held on 26 July 2023. Aankondiging • Jun 29
ICP Ltd. Announces Change of Registered Office Address The Board of Directors of ICP Ltd. announced that with effect from 28 June 2023, the registered office address of the Company has been changed to: 6 Temasek Boulevard #23-01, Suntec Tower 4, Singapore 038986. Recent Insider Transactions • Apr 21
Insider recently bought €1.5m worth of stock On the 20th of April, Kong Meng Ang bought around 212m shares on-market at roughly €0.0068 per share. This transaction increased Kong Meng Ang's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 10
First half 2023 earnings released First half 2023 results: Revenue: S$4.81m (up 88% from 1H 2022). Net income: S$1.14m (up S$1.45m from 1H 2022). Profit margin: 24% (up from net loss in 1H 2022). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Executive Director Marcus Aw was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 14
Full year 2022 earnings released: EPS: S$0 (vs S$0 in FY 2021) Full year 2022 results: EPS: S$0 (in line with FY 2021). Revenue: S$5.12m (up 17% from FY 2021). Net loss: S$1.23m (loss widened 34% from FY 2021). Over the last 3 years on average, earnings per share has increased by 17% per year and the company’s share price has also increased by 17% per year. Aankondiging • Oct 13
ICP Ltd., Annual General Meeting, Oct 28, 2022 ICP Ltd., Annual General Meeting, Oct 28, 2022, at 15:00 Singapore Standard Time. Agenda: To receive and adopt the Audited Financial Statements for the financial year ended 30 June 2022 together with the Directors' Statement and Auditor's Report thereon; to re-elect Mr. Aw Ming-Yao Marcus, who is retiring pursuant to Regulation 109 of the Company's Constitution; to re-elect Mr. Koh Tien Gui, who is retiring pursuant to Regulation 109 of the Company's Constitution; to approve the payment of Directors' fees of S$84,575/- for the financial year ended 30 June 2022 (FY2021: S$73,500/-); and to transact any other business which may properly be transacted at an Annual General Meeting. Reported Earnings • Aug 28
Full year 2022 earnings released Full year 2022 results: Revenue: S$5.12m (up 17% from FY 2021). Net loss: S$1.23m (loss widened 34% from FY 2021). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Executive Director Marcus Aw was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: S$0 (vs S$0 in 1H 2021). Net loss: S$305.0k (loss narrowed 27% from 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Executive Director Marcus Aw was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Executive Director Marcus Aw was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Full year 2021 earnings released Full year 2021 results: Net loss: S$920.0k (loss narrowed 15% from FY 2020). Executive Departure • Jul 13
Joint Company Secretary Ee Chian has left the company On the 30th of June, Ee Chian's tenure as Joint Company Secretary ended after 1.6 years in the role. We don't have any record of a personal shareholding under Ee's name. Ee is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.50 years, which is considered inexperienced in the Simply Wall St Risk Model. Aankondiging • Aug 16
ICP Ltd. Provides Group Earnings Guidance for the Second Half of 2020 ICP Ltd. provided group earnings guidance for the second half of 2020. The Group operates in multiple jurisdictions which have been at different stages of the curve relating to the spread of COVID-19 during different time periods since the onset of the virus in early 2020. During this time, as the situation in the various countries which the Group operates in evolved differently, the Company has been continuously assessing the overall impact that COVID-19 would have on its business. To this end, the Board to issue a profit guidance note that the Group is expected to report a net loss for the second half of 2020, compared to the first half of 2020. Aankondiging • Aug 11
ICP Ltd. to Report Q4, 2020 Results on Aug 29, 2020 ICP Ltd. announced that they will report Q4, 2020 results on Aug 29, 2020