Post Reply
1801-1820 of 1898
may be a one night stand as it' s still loss making in last q
Time to chong back or higher?
think2profit ( Date: 30-Oct-2017 12:35) Posted:
|
waking up liao. now watching for volume to trade
WSJ.Shares ( Date: 15-Oct-2017 16:28) Posted:
|
Mr IPS Securex, PLS wake bro!!!
IPS has made an allowance of doubtful debt of ~SGD3m, which involves
the sale of PepperBall and related equipment to one of its regional
customers. We think the probability of repayment is low, as well as the
fulfilment of the USD54.8m LOI. As a result, we have removed the sale
from our estimates, which results in a lower DCF-backed TP of SGD0.09
(from SGD0.34, 13% upside). In addition, certain project delays, like AOT&rsquo s
airports upgrades, also hamper its prospects going forward. Hence, we
downgrade the stock to NEUTRAL (from Buy).
Allowance of doubtful debt of ~SGD3m. IPS Securex Holdings (IPS) has
made an allowance of doubtful debt of ~SGD3m. This involves the sale of
PepperBall and related equipment to one of its South-East Asian customers.
Previously, we understood that the customer had signed an agreement
subsequent to the year end for instalments to be paid from Aug 2016 to Sep
2018. IPS received an initial payment of SGD0.7m in Aug 2016 but,
subsequently, faced continuous delays in terms of the instalment payments.
As a result, we think that the odds of the customer repaying in the near term is
very low, and the write-off would provide the company with a better base to start
afresh. However, any repayments in future ought to provide uplift for IPS&rsquo
financials, as it would be recorded as other income in the P& L.
Letter of Intent (LOI) worth USD54.8m unlikely to be fulfilled. On 29 Apr
2015, IPS announced that it had received a LOI with a total contract value of
USD54.8m to supply to a government body in South-East Asia over a 2-year
period. Initial orders were received, but payments and subsequent orders have
been delayed multiple times.
As a result, we think that the fulfilment of the USD54.8m LOI is very low, and
have removed it from our FY18 and FY19 estimates. This results in our NPAT
being lowered substantially by 68% (FY18) and 71% (FY19).
Participating in new tenders. With the acquisition of security solutions
provider Yatai Security & Communications Pte Ltd (Yatai) &ndash as well as the hiring
of a few senior personnel to help grow the business &ndash we believe management
is continuing to participate aggressively in the supply of scanning equipment for
checkpoints and airports, especially in Singapore. Any contract wins would also
help to build up IPS&rsquo maintenance recurring revenue base over the longer term.
Downgrade to NEUTRAL (from Buy) with a lower DCF-backed SGD0.09 TP
(13% upside). With the removal of the PepperBall sale, which makes up a
substantial amount of our NPAT and investment thesis, coupled with certain
project delays like Airports of Thailand&rsquo s (AOT) (AOT TB, BUY, TP: THB46.50)
airports upgrades and increased manpower costs due to the hiring of a few new
senior personnel, we downgrade this counter to NEUTRAL (from Buy) with a
lower DCF-backed TP of SGD0.09. A key risk to our call is delays in
government payments or orders.
the sale of PepperBall and related equipment to one of its regional
customers. We think the probability of repayment is low, as well as the
fulfilment of the USD54.8m LOI. As a result, we have removed the sale
from our estimates, which results in a lower DCF-backed TP of SGD0.09
(from SGD0.34, 13% upside). In addition, certain project delays, like AOT&rsquo s
airports upgrades, also hamper its prospects going forward. Hence, we
downgrade the stock to NEUTRAL (from Buy).
Allowance of doubtful debt of ~SGD3m. IPS Securex Holdings (IPS) has
made an allowance of doubtful debt of ~SGD3m. This involves the sale of
PepperBall and related equipment to one of its South-East Asian customers.
Previously, we understood that the customer had signed an agreement
subsequent to the year end for instalments to be paid from Aug 2016 to Sep
2018. IPS received an initial payment of SGD0.7m in Aug 2016 but,
subsequently, faced continuous delays in terms of the instalment payments.
As a result, we think that the odds of the customer repaying in the near term is
very low, and the write-off would provide the company with a better base to start
afresh. However, any repayments in future ought to provide uplift for IPS&rsquo
financials, as it would be recorded as other income in the P& L.
Letter of Intent (LOI) worth USD54.8m unlikely to be fulfilled. On 29 Apr
2015, IPS announced that it had received a LOI with a total contract value of
USD54.8m to supply to a government body in South-East Asia over a 2-year
period. Initial orders were received, but payments and subsequent orders have
been delayed multiple times.
As a result, we think that the fulfilment of the USD54.8m LOI is very low, and
have removed it from our FY18 and FY19 estimates. This results in our NPAT
being lowered substantially by 68% (FY18) and 71% (FY19).
Participating in new tenders. With the acquisition of security solutions
provider Yatai Security & Communications Pte Ltd (Yatai) &ndash as well as the hiring
of a few senior personnel to help grow the business &ndash we believe management
is continuing to participate aggressively in the supply of scanning equipment for
checkpoints and airports, especially in Singapore. Any contract wins would also
help to build up IPS&rsquo maintenance recurring revenue base over the longer term.
Downgrade to NEUTRAL (from Buy) with a lower DCF-backed SGD0.09 TP
(13% upside). With the removal of the PepperBall sale, which makes up a
substantial amount of our NPAT and investment thesis, coupled with certain
project delays like Airports of Thailand&rsquo s (AOT) (AOT TB, BUY, TP: THB46.50)
airports upgrades and increased manpower costs due to the hiring of a few new
senior personnel, we downgrade this counter to NEUTRAL (from Buy) with a
lower DCF-backed TP of SGD0.09. A key risk to our call is delays in
government payments or orders.
Any outlook on this stock? I' m confuse with this share play.... seems penny soon
The CEO wait till all wanna give up their share, then come buy some at super low price.... OMG
You meant he bought the shares from open market to show his supports ?? TQ
WSJ.Shares ( Date: 20-Aug-2017 13:25) Posted:
|
now IPS Securex CEO (Kelvin) buys in so cheap... wtf.... the share price drop like shit... don't know how can get 10 fold profit sia.... Sigh!!!
OMG, the result is now all the way down to hell... no idea wheater will recover profit anot
Getting more and more rubbish counter at SGX here, this is one of it. Avoid and Delete
I think this counter no more hope
OMG, profit warning liao... confirm Loss T.T
I think upcoming result maybe very challenging liao, It' s peer " Secura" Q2 result - (Loss)/profit for the period: (94)
AGM is around the corner, let' s hope for the BEST :)
Yes, WSJ.Shares, you are right. Knowing that the company is in good hands ,,
no wories, the best yet to come :)
guiren ( Date: 17-Jun-2017 10:36) Posted:
|
Yes, IPS is a good name in the industry since the day they started to supply construction equipments ,,
mogambo ( Date: 09-Jun-2017 21:39) Posted:
|
:(
Rubbish counter, I been monitoring this counter since it was 0.300 plus level, until then it keep on dropping till this current value. AVOID AND DELETE.