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IPROPERTY GROUP LIMITED (IPP)


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General Information
Company Name: Iproperty Group Limited
Stock Code: IPP
Website: www.iproperty-group.com
GICS Sub-Industry: Advertising
Market Cap ($M): 147
Equiv. Shares (M): 181

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.810 $ 0.820 $ 0.830 $ 0.810 $ 0.820 28,900 $ -0.010  -1.220 %

Company Overview

Business Description:
IProperty Group Limited (IPP, formerly IPGA Limited) is engaged in providing online advertising and other complementary products to real estate agents and property developers under the "iProperty.com" umbrella brand. IPP operates in Malaysia, Hong Kong, Indonesia and Singapore, Philippines, India and Macau. IPP also operates a regional commercial and industrial property portal.

Strategy Analysis:
Iproperty will continue to focus on consolidating their position in markets of Malaysia, Hong Kong, Indonesia and Singapore, while continuing to hold investments in India and Philippines. IPP will focus on increasing agent penetration, deepening relationships with property developers and building greater awareness of the brand. The Board and Senior Management team will continue to look at opportunities across the region with a primary goal to ensure consolidation in core markets and identify new growth options for the Group.

Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A -2.9 -1.7 -- 0.0 0.0 0.0 --
2011  A -2.0 -1.3 -- 0.0 0.0 0.0 --
2010  A -2.5 -1.9 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Iproperty Group (IPP) $148 M -- -- -- -- -- -- 0.0000 -- --
REA Group (REA) $4,057 M 0.2473 0.2294 0.2588 46.5116 37.8332 30.0546 0.0107 0.0134 0.0156
STW Communications (SGN) $604 M 0.0534 0.0790 0.0794 12.4273 11.5177 10.6709 0.0555 0.0595 0.0639

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
IPP -- -- 5.20 -- 9.20
Market 1.13 13.2 0.92 2.50 2.58
Sector 1.13 13.9 1.21 2.39 1.04

Directors
Name Position Start Date
Mr Patrick Grove Non-Executive Deputy Chairman 26 June 2007
Mr Georg Chmiel Non-Executive Director 04 January 2011
Mr Roland Tripard Non-Executive Director 23 June 2011
Mr Samuel Scott Weiss Non-Executive Director (other) 02 August 2007
Mr Hugh Morrow Non-Executive Director (other) 02 August 2007
Mr Lucas (Luke) Robert Elliott Non-Executive Director (other) 03 February 2010

Management
Name Position
Shaun Di Gregorio Chief Executive Officer
Nicholas (Nick) John Victor Geddes Company Secretary

Substantial Shareholders
Holding Name
11,487,718 (6.78%) CAV Investment Holdings Pty Ltd
29,347,500 (17.31%) Seloger.com
11,798,879 (6.96%) National Nominees Limited
41,009,176 (24.19%) Catcha Media Group Pte Ltd

Calendar of Events
Date Event
24 March 2014 Report (Annual)
25 February 2014 Report (Prelim)
23 August 2013 Report (Interim)
22 August 2013 Report (Interim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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