SGX:AZA

Stock Analysis Report

Executive Summary

IPC Corporation Ltd, an investment holding company, engages in property development and investment activities in Singapore and the People’s Republic of China.


Snowflake Analysis

Adequate balance sheet and overvalued.

Share Price & News

How has IPC's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AZA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-10.0%

AZA

-5.3%

SG Real Estate

-4.8%

SG Market


1 Year Return

-43.8%

AZA

-34.3%

SG Real Estate

-29.0%

SG Market

Return vs Industry: AZA underperformed the SG Real Estate industry which returned -33.4% over the past year.

Return vs Market: AZA underperformed the SG Market which returned -27.1% over the past year.


Shareholder returns

AZAIndustryMarket
7 Day-10.0%-5.3%-4.8%
30 Day-20.0%-24.1%-22.1%
90 Day-39.0%-30.6%-27.5%
1 Year-43.8%-43.8%-31.8%-34.3%-26.0%-29.0%
3 Year-63.6%-63.6%-34.9%-40.4%-21.4%-29.7%
5 Year-37.9%-90.5%-32.4%-41.5%-20.4%-33.9%

Price Volatility Vs. Market

How volatile is IPC's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is IPC undervalued compared to its fair value and its price relative to the market?

0.17x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AZA's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AZA's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: AZA is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: AZA is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AZA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AZA is good value based on its PB Ratio (0.2x) compared to the SG Real Estate industry average (0.4x).


Next Steps

Future Growth

How is IPC forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.8%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as IPC has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has IPC performed over the past 5 years?

-23.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AZA is currently unprofitable.

Growing Profit Margin: AZA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AZA is unprofitable, and losses have increased over the past 5 years at a rate of -23.9% per year.

Accelerating Growth: Unable to compare AZA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AZA is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-30.5%).


Return on Equity

High ROE: AZA has a negative Return on Equity (-19%), as it is currently unprofitable.


Next Steps

Financial Health

How is IPC's financial position?


Financial Position Analysis

Short Term Liabilities: AZA's short term assets (SGD29.5M) exceed its short term liabilities (SGD3.2M).

Long Term Liabilities: AZA's short term assets (SGD29.5M) exceed its long term liabilities (SGD7.6M).


Debt to Equity History and Analysis

Debt Level: AZA's debt to equity ratio (9.9%) is considered satisfactory.

Reducing Debt: AZA's debt to equity ratio has reduced from 48.5% to 9.9% over the past 5 years.


Balance Sheet

Inventory Level: AZA has a high level of physical assets or inventory.

Debt Coverage by Assets: AZA's debt is covered by short term assets (assets are 3.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AZA has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: AZA has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

What is IPC's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AZA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AZA's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AZA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AZA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AZA is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AZA's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

28.3yrs

Average management tenure


CEO

Patrick Ngiam (64yo)

28.25s

Tenure

Dr. Mia Je Ngiam, also known as Patrick, has been the Chairman and Chief Executive Officer of IPC Corporation Ltd since 1992 and serves as Chief Executive Officer of Essex Investment Group. Dr. Ngiam found ...


Leadership Team

NamePositionTenureCompensationOwnership
Mia Hai Ngiam
Executive Director of Mktg & Corporate Comm34.92yrsno data2.02% SGD309.8k
Mia Hong Ngiam
Executive Director of Business Development & IT Solutions and Executive Director28.5yrsno data1.97% SGD303.0k
Mia Je Ngiam
Chairman & CEO28.25yrsno data5.06% SGD776.5k
Mia Kiat Ngiam
Co-Founder27.5yrsno data7.1% SGD1.1m
Hui Kian Lauw
Executive Director of Administration & Finance and Executive Director34.92yrsno data4.29% SGD658.8k

28.3yrs

Average Tenure

62yo

Average Age

Experienced Management: AZA's management team is seasoned and experienced (28.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mia Hai Ngiam
Executive Director of Mktg & Corporate Comm34.92yrsno data2.02% SGD309.8k
Mia Hong Ngiam
Executive Director of Business Development & IT Solutions and Executive Director28.5yrsno data1.97% SGD303.0k
Mia Je Ngiam
Chairman & CEO28.25yrsno data5.06% SGD776.5k
Mia Kiat Ngiam
Co-Founder27.5yrsno data7.1% SGD1.1m
Hui Kian Lauw
Executive Director of Administration & Finance and Executive Director34.92yrsno data4.29% SGD658.8k
Kiang Kok Teo
Lead Independent Director1.33yrsno datano data
Joo Hai Lee
Independent Non-Executive Director1.5yrsno datano data
Sin Huat Tan
Independent Director1.33yrsno datano data

27.9yrs

Average Tenure

62yo

Average Age

Experienced Board: AZA's board of directors are seasoned and experienced ( 27.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

IPC Corporation Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IPC Corporation Ltd
  • Ticker: AZA
  • Exchange: SGX
  • Founded: 1985
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$15.353m
  • Shares outstanding: 85.29m
  • Website: https://www.ipc.com.sg

Location

  • IPC Corporation Ltd
  • Deutsche Telekom Centre
  • 23 Tai Seng Drive, No. 06-00
  • Singapore
  • 535224
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AZASGX (Singapore Exchange)YesOrdinary SharesSGSGDJun 1993
IPENDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 1993

Biography

IPC Corporation Ltd, an investment holding company, engages in property development and investment activities in Singapore and the People’s Republic of China. It invests in and resells properties; and provides property consulting services. The company also provides hospitality services; and sells and distributes telecommunication products, and computer system boards and peripheral products. In addition, it offers hotel and club management services. IPC Corporation Ltd was incorporated in 1985 and is headquartered in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 12:47
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.