IPC Corporation

[Bibi]

The company was once a relatively PC giant. Unfortuately they were not able to manage the business to expectation.
Same Management is still there.

I doubt you will ever get to see the cash returned to shareholder. Neither do i think it will go bust.


Cory

I work as a temp staff at ipc during my school holidays. That was arond 12 years back. I was under a manager who is serving her resignation. She told us during one of the management meeting when a comment was made about mass exodus of people in ipc, the managing director say its ok if people leave. we can always hire new people as long as we have money. I will never invest in a company with this type of mentality.



IPC was once a PC giant but became a casualty in the PC wars back in the 90s is not because they couldn't manage the business to expectation. The PC industry back then was under intense competition from cheap clones and peripherals that were mass produced from Taiwan.

If you cannot remember the other local casualties were Compro, ACS, Primefield, Ranger and Datamini. Datamini was a very huge global player that went under, Ranger Computer was a product from Wearnes Brothers the very same company that is also listed on sgx they too threw in the towel, would you also like to say they couldn't manage it to expectation then?

I think IPC did pretty well manage to exit loss making business and transform into property developer returning to the path to profitability.

[sgd]

I tend to view things differently. Usually a company is either pro-shareholder or pro-employee rarely both.

Companies that are pro-employee are usually not very profit oriented, great to work in but bad to invest in.

Companies that are pro-shareholder are reverse somebody at the top always pushing managers hard, managers will in turn push employees to work harder company is usually top five in the industry or has "most admired company" status good to invest in bad to work in.

I rather work in a company that is pro-employee but invest in one that is pro-shareholder instead

[Bibi]

I tend to view things differently. Usually a company is either pro-shareholder or pro-employee rarely both.

Companies that are pro-employee are usually not very profit oriented, great to work in but bad to invest in.

Companies that are pro-shareholder are reverse somebody at the top always pushing managers hard, managers will in turn push employees to work harder company is usually top five in the industry or has "most admired company" status good to invest in bad to work in.

I rather work in a company that is pro-employee but invest in one that is pro-shareholder instead

Maybe i didnt make myself clear. The mass exodus of people refers to management people as well. These people are going to your competitors. Good management people should be rewarded and given incentives to make them stay long in the company.

[corydorus]

I tend to view things differently. Usually a company is either pro-shareholder or pro-employee rarely both.

Companies that are pro-employee are usually not very profit oriented, great to work in but bad to invest in.

Companies that are pro-shareholder are reverse somebody at the top always pushing managers hard, managers will in turn push employees to work harder company is usually top five in the industry or has "most admired company" status good to invest in bad to work in.

I rather work in a company that is pro-employee but invest in one that is pro-shareholder instead

When you say Pro-Management or Pro Shareholder, i notice you do not differentiate the management levels. Can be alot of different.

Cory

[sgd]

People will always leave whether you pay them right or not. They leave to get pregnant or to do a sabbatical for a wide variety of reasons. Are we going to penalize a ceo if their employees leave? All companies have these kinds of problems these are day to day operational decisions not for us to micro manage.

If as bibi said there was a mass exodus of people in the management left IPC would you kindly then explain how the company could deliver the last quarter profit if there was nobody left in their management to do any of the work?

We as shareholders and investors must instead look at things objectively and seek out value not meddle in day to day running of operation, if you are in a taxi and need to get from orchard to tampines while driving halfway will you suddenly turn slap the taxi driver and criticize the way he drives? why would anybody want to do that? As long as he doesn't drive you to johore bahru does it really matter the way he drives?

it will not always be perfect but I think as long as the company earning and delivering results, giving dividends what are their debt ratios as long as it makes sense and have big time investors who are also vested in it then I think it's good enough for me.

[Bibi]

The mass exodus in ipc took place 15 years ago. That time ipc was still a reputable company producing personal computers. It is the top management view of why people leave that is worrying. My top priority in searching for companies is good management first. Even if a company is severly undervalue but management sucks, I will let it go.

[sgd]

unless you were a disgruntled ex-employee yourself how would know for real from somebody else's word that IPC management sucks?

[wahkao]

Another company that play the dividend and rights game.
[Image: wquUmly.png]

[FatBoi]

Another company that play the dividend and rights game.
[Image: wquUmly.png]

Wait a minute. I disagree.

IPC has been paying out 0.25 cents every year since 2005.

Just because they had one rights issue in 2012 and you conclude it's playing the dividend and rights game?

IPC has many long suffering shareholders since their PC days, paying out a dividend (same say too little) is an acknowledgement of shareholder loyalty. IPC can't pay out too much as it needs ammunition for their hotel / property business.

The rights issue is probably to allow a certain group of shareholders to have a larger stake in the business.

[Tiggerbee]

The deal alone is worth 17.58 cts per share.

http://www.ipc.com.sg/pdf/IPC_PR_30Mar15.pdf

IPC CORPORATION LTD
(Registration No. 198501057M)
PROPOSED TRANSACTION INVOLVING HOTELS IN JAPAN
IPC Corporation Ltd (the “Company” and together with its subsidiaries, the “Group”) would like to announce that the Company is currently in negotiations with a party for the sale of the Group’s remaining seven (7) hotels in Japan. The proposed sale price for the remaining 7 hotels is in the region of S$150 million subject to agreement between the parties.
The Company wishes to advise shareholders that no definitive or binding agreement has been executed in relation to the above subject matter and there is no assurance that a definitive or binding agreement will result from the negotiations. The Company will make further announcement(s) in the event that there is further material development regarding the above subject matter. In the meantime, shareholders of the Company are advised to refrain from taking any action in respect of their shares in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company. In the event of any doubt, shareholders of the Company should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.
On Behalf of the Board
IPC Corporation Ltd
Ngiam Mia Hai Bernard
Executive Director
30 March 2015