Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

iWOW Technology Ltd provides global wireless technologies and equipment. The Company designs, manufactures, and distributes wireless connectivity product lines including GSM/GPRS modems and GSM/GPRS modules to the machine-to machine market. iWOW Technology serves customers worldwide.

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<a href="https://www.smartkarma.com/entities/iwow-technology-ltd" target="_blank" data-smartkarma-citation="entities:36147:1" rel="noopener">IWOW Technology Ltd (IWOW SP)</a> is a one-stop end-to-end wireless IoT technology provider specialising in offering vertically integrated solutions and a telecommunications infrastructure solutions provider.</li>
<li>IWOW uses open and proprietary wireless communication technologies to create customized Internet-of-Things (IoT) solutions for consumers which connect devices and sensors to cloud application servers for a variety of applications.</li>
<li>The firm reported its 1H26 results on 10th Nov 2025. In this note, we provide an update on its 1H26 earnings.</li>
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IWOW Technology Ltd (IWOW SP) is a one-stop end-to-end wireless IoT technology provider specialising in offering vertically integrated solutions and a telecommunications infrastructure solutions provider.
IWOW uses open and proprietary wireless communication technologies to create customized Internet-of-Things (IoT) solutions for consumers which connect devices and sensors to cloud application servers for a variety of applications.
The firm reported its 1H26 results on 10th Nov 2025. In this note, we provide an update on its 1H26 earnings.


IWOW Technology - 1H26 Earnings Update - Limited Near-Term Catalysts, but Net Cash Still a Positive

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>Maybank lowers Sembcorp's target price to $5.65 following Alinta deal.</li><li>JPMorgan predicts Singapore equities will hit new highs by 2026 through value initiatives.</li><li>Morningstar boosts SGX fair value to $15, cites strong trading but warns of overvaluation.</li></ul>

Maybank lowers Sembcorp's target price to $5.65 following Alinta deal.JPMorgan predicts Singapore equities will hit new highs by 2026 through value initiatives.Morningstar boosts SGX fair value to $15, cites strong trading but warns of overvaluation.

Singapore Market Roundup (17-Dec-2025): Maybank cuts Sembcorp's target price to $5.65 after

SAC Capital

Independent Insight Provider

Skylink Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides purchasing, insurance, financing, workshop servicing and repairs, as well as customized engineering solutions for commercial vehicles. Skylink Holdings serves customers in Singapore.

<ul><li>Skylink Holdings Limited (“Skylink” or “the Group”) is a newly listed commercial vehicle leasing and engineering solutions provider, formed through the reverse takeover (“RTO") of Sincap Group in September 2025.</li><li>With just 8 years of operational history under its subsidiary Skylink APAC, the Group has grown into one of Singapore’s largest commercial vehicle leasing platforms.</li><li>Its integrated business model spans long-term commercial vehicle leasing and fleet management (“SKVR”), vehicle credit and hire-purchase financing (“SKCR”), and engineering services including MRO, refurbishment, and bodywork solutions (“SKER”).</li></ul>

Skylink Holdings Limited (“Skylink” or “the Group”) is a newly listed commercial vehicle leasing and engineering solutions provider, formed through the reverse takeover (“RTO") of Sincap Group in September 2025.With just 8 years of operational history under its subsidiary Skylink APAC, the Group has grown into one of Singapore’s largest commercial vehicle leasing platforms.Its integrated business model spans long-term commercial vehicle leasing and fleet management (“SKVR”), vehicle credit and hire-purchase financing (“SKCR”), and engineering services including MRO, refurbishment, and bodywork solutions (“SKER”).

Skylink Holdings Limited: Geared for Growth

<ul><li>Morningstar lifts SGX fair value to $15, cites strong trading but warns of overvaluation.</li><li>PhillipCapital lowers Sembcorp's TP to $7.10 but keeps 'buy' rating.</li><li>Analysts are optimistic as SGX starts a new growth phase.</li></ul>

Morningstar lifts SGX fair value to $15, cites strong trading but warns of overvaluation.PhillipCapital lowers Sembcorp's TP to $7.10 but keeps 'buy' rating.Analysts are optimistic as SGX starts a new growth phase.

Singapore Market Roundup (16-Dec-2025): Morningstar raises SGX fair value to $15, notes

Rubber News Specialist, Helixtap

Vinod Nedumudy

Rubber News Specialist

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

Commodities

SGX Technically Specified Rubber 20 (TSR20) Futures: Effective from 16th May 2011, this contract will be migrated from SICOM platform to the SGX-DT platform. It will cease trading on SICOM at the close of business day Friday, 13th May 2011. Trading hours are revised as 7.55am to 6.00pm (no lunch break). Please refer to SGX products website for the new revised contract specifications. Exchange symbol: TF. Product Specifications: https://www2.sgx.com/derivatives/products/sicom-rubber?cc=TF

Highlights<ul><li dir="ltr" style="list-style-type: disc;" aria-level="1">MRF posts 11.7% YoY profit growth</li><li dir="ltr" style="list-style-type: disc;" aria-level="1"> JK Tyre clocks record revenue, profit surge</li><li>Tire-makers benefit from GST-led demand rebound</li><li>The top performer MRF posted an 11.7% year-on-year (YoY) rise in its consolidated net profit for the July-September quarter of FY 2026 at INR 525.64 crore (US$58.34 million). The company posted a profit of INR 500.47 crore (US$55.55 million) in the FY2026 April-June quarter.</li></ul>

HighlightsMRF posts 11.7% YoY profit growth JK Tyre clocks record revenue, profit surgeTire-makers benefit from GST-led demand reboundThe top performer MRF posted an 11.7% year-on-year (YoY) rise in its consolidated net profit for the July-September quarter of FY 2026 at INR 525.64 crore (US$58.34 million). The company posted a profit of INR 500.47 crore (US$55.55 million) in the FY2026 April-June quarter.

Rubber Tailwinds, Festive Thrust Lift Tyre Makers’ Q2 FY26 Show

Singapore
Research on Singapore

IWOW Technology - 1H26 Earnings Update - Limited Near-Term Catalysts, but Net Cash Still a Positive

iWOW Technology reported its 1H26 results on 10th Nov 2025. In this note, we provide an update on its 1H26 earnings as well as share some of our...

Evolve Capital Advisory Pte Ltd

Singapore Market Roundup (17-Dec-2025): Maybank cuts Sembcorp's target price to $5.65 after

Maybank cuts Sembcorp's target price to $5.65. JPMorgan forecasts new highs for Singapore equities by 2026. Morningstar raises SGX fair value to...

Singapore Market Roundup

Skylink Holdings Limited: Geared for Growth

Skylink Holdings Limited (“Skylink” or “the Group”) is a newly listed commercial vehicle leasing and engineering solutions provider, formed through...

SAC Capital

Singapore Market Roundup (16-Dec-2025): Morningstar raises SGX fair value to $15, notes

Morningstar raises SGX fair value to $15, citing strong trading but warns of overvaluation. PhillipCapital lowers Sembcorp's TP to $7.10, maintains...

Singapore Market Roundup

Rubber Tailwinds, Festive Thrust Lift Tyre Makers’ Q2 FY26 Show

Highlights MRF posts 11.7% YoY profit growth JK Tyre clocks record revenue, profit surge Tire-makers benefit from GST-led demand rebound The...

Helixtap