VicPlas International Ltd. (569) AI Stock Analysis

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VicPlas International Ltd.

(SGX:569)

Select Model

Rating:38Underperform

Price Target:SGD 0.06▼(-6.67% Downside)

Action:reiterated

Date:10/02/26

The overall score is deeply negative, driven primarily by a severe deterioration in financial performance. The company is unprofitable with collapsing margins and is burning cash, which threatens its financial stability. This fundamental weakness is confirmed by a persistent technical downtrend and a negative P/E ratio that offers no valuation support. The stock faces significant risks across all relevant analytical dimensions.

Positive Factors

Revenue reboundThe 75.7% latest-year revenue rebound indicates that demand or commercial execution recovered materially after weaker periods. If sustained, stronger top-line activity can improve operating leverage, support reinvestment, and provide a foundation for restoring profitability over the next several quarters.

Negative Factors

Severe margin compressionThe sharp gross-margin contraction materially weakens the economics of each unit of revenue and leaves less room to cover operating costs. Unless pricing, product mix, or cost control improves, the recent revenue rebound may translate into limited earnings and remain vulnerable to further volatility.

VicPlas International Ltd. (569) vs. iShares MSCI Singapore ETF (EWS)

Market Cap: SGD 30.66M
Dividend Yield: ―
Average Volume (3M): 102.37K
Price to Earnings (P/E): -6.0
Beta (1Y): 0.62
Revenue Growth: 9.96%
EPS Growth: -119.57%
Country: Singapore
Employees: 1,000
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Devices

VicPlas International Ltd. Business Overview & Revenue Model

Company Description

Vicplas International Ltd, established in Singapore in 1993, operates as an investment holding company with key business segments in medical devices and piping systems. The company's geographical reach includes Singapore, Malaysia, the People's Repub...

VicPlas International Ltd. Financial Statement Overview

Summary

Financial performance is critically weak. The Income Statement (Score: 18) shows collapsing gross margins and deepening net losses despite revenue growth. The Cash Flow Statement (Score: 15) reveals persistent negative free cash flow and a fundamental cash burn. The Balance Sheet (Score: 42) indicates rising leverage and eroding equity. The overall financial picture is one of severe operational and financial distress.

Income Statement

18Very Negative

Balance Sheet

42Neutral

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Jul 2026	Jul 2025	Jul 2024	Jul 2023	Jul 2022
Income Statement
Total Revenue	127.30M	127.30M	120.81M	102.39M	129.22M	130.81M
Gross Profit	15.61M	15.61M	66.57M	52.42M	66.19M	68.06M
EBITDA	2.97M	2.00M	8.76M	6.93M	13.18M	17.93M
Net Income	-5.14M	-5.14M	-2.36M	-1.36M	4.24M	8.84M
Balance Sheet
Total Assets	147.66M	147.66M	137.71M	131.49M	119.02M	130.34M
Cash, Cash Equivalents and Short-Term Investments	5.93M	5.93M	4.71M	4.97M	8.57M	8.89M
Total Debt	48.44M	48.44M	41.11M	32.47M	17.55M	28.01M
Total Liabilities	80.05M	80.05M	66.32M	56.93M	40.46M	52.03M
Stockholders Equity	67.62M	67.62M	71.39M	74.57M	78.56M	78.31M
Cash Flow
Free Cash Flow	-4.03M	-4.03M	-5.99M	-7.82M	12.53M	-2.61M
Operating Cash Flow	1.40M	1.40M	388.00K	6.72M	17.88M	10.25M
Investing Cash Flow	-5.40M	-5.40M	-6.36M	-14.53M	-5.10M	-12.79M
Financing Cash Flow	5.10M	5.10M	5.75M	4.24M	-12.76M	1.63M

VicPlas International Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price0.06

Price Trends

50DMA0.07Negative

100DMA0.07Negative

200DMA0.08Negative

Market Momentum

MACD-0.00Negative

RSI24.80Positive

STOCH15.71Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:569, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.08, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 24.80 is Positive, neither overbought nor oversold. The STOCH value of 15.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:569.

VicPlas International Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SG:569 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SG:OTX	84Outperform	SGD 29.60M	8.72	19.60%	7.64%	-3.11%	-21.50%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SG:569	38Underperform	SGD 30.66M	-6.00	-7.55%	―	9.96%	-119.57%

* Healthcare Sector Average

Performance Comparison

SG:569 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SG:569	VicPlas International Ltd.	0.06	-0.04	-36.84%
SG:505	Asiamedic Limited	0.02	-0.00	-5.26%
SG:546	Medtecs International Corporation Ltd.	0.10	-0.02	-18.70%
SG:584	AJJ Medtech Holdings Limited	0.01	0.00	0.00%
SG:MIJ	Alliance Healthcare Group Ltd.	0.18	0.06	55.17%
SG:OTX	Medinex Ltd.	0.22	-0.00	-1.35%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 02, 2026

VicPlas International Ltd. AI Stock Analysis