IPC Corp flags 3 years of losses, at risk of joining SGX’s watch-list

PROPERTY company IPC Corporation said on Wednesday (May 18) that the firm had recorded 3 consecutive years of losses and might be placed on the Singapore Exchange’s (SGX) watch-list for failing to meet the bourse’s criteria.

A company will be included in the watch-list if it records pre-tax losses for the 3 most recently completed consecutive financial years, and has an average daily market capitalisation of below S$40 million over the last 6 months.

IPC’s latest six-month average daily market capitalisation was S$12.25 million, as at May 18.

For the full year ended Dec 31, 2021, IPC recorded a total loss of S$8.85 million, albeit narrowing from S$28.43 million a year ago. Sales were nearly 23 per cent lower year on year at S$4.17 million.

The counter closed unchanged at 13.5 Singapore cents on Wednesday.