IPC Corporation posts FY2025 S$3.3m loss on capital gains tax hit despite fair value windfall from Japan hotel investment exit
Summary:
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Full-year sales fell 14% to S$1.9 million, with revenue still entirely China-based and dominated by hotel management fees.
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The Group booked a S$2.2 million profit before tax for FY2025, driven by S$9.8 million fair value gains from its Nest Hotel Japan Corporation preference share investment.
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A S$5.5 million capital gains tax provision on the disposal of that investment swung the bottom line to a S$3.3 million net loss, versus a S$6.1 million profit in FY2024.
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Net asset value per share slipped to S$0.53 from S$0.57, as net assets declined to S$44.8 million despite a sharp rise in cash to S$17.7 million following divestment proceeds.
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No dividend was declared as IPC focuses on preserving cash to pursue strategic property-related opportunities amid a still-challenging China hotel and property market.