Invest for a Sustainable Future, Impact Capital Asset Management

ICAM

Invest for a Sustainable Future

Impact Capital Asset Management

Established in August 2020, Impact Capital Asset Management Pte. Ltd. (ICAM) was conceived by seasoned professionals Deepak Mawandia and Atul Tetambe. Both have accumulated a wealth of knowledge and experience from their extensive tenures in the financial sector. In 2019, ICAM secured its RFMC license and subsequently introduced a technology-centric venture fund. By 2021, with the acquisition of its CMS license, ICAM witnessed steady growth in its assets under management. Presently, ICAM manages a portfolio exceeding USD 1 billion, diversified across various countries. Central to ICAM’s foundation is a commitment to offering a platform singularly dedicated to the best interests of its investor clients. The combined expertise of Deepak and Atul firmly establishes ICAM as a notable entity in the wealth management field.

Equity Bottom-Up

<ul>
<li>Coliwoo delivered a positive 1HFY2026 headline update.</li>
<li>Revenue rose 16.6% YoY to S$26.9m, gross profit rose 14.9% to S$19.1m and PATMI increased 43.9% to S$13.4m.</li>
<li>The improvement supports demand and revenue momentum, but the cleaner earnings assessment is weaker because reported profit was helped by fair-value gains.</li>
</ul>


Coliwoo delivered a positive 1HFY2026 headline update.
Revenue rose 16.6% YoY to S$26.9m, gross profit rose 14.9% to S$19.1m and PATMI increased 43.9% to S$13.4m.
The improvement supports demand and revenue momentum, but the cleaner earnings assessment is weaker because reported profit was helped by fair-value gains.


<ul><li>Coliwoo’s real test is whether a mixed owned, leased, and managed accommodation platform can convert strong occupancy and visible room growth into cleaner owner earnings after capital intensity, lease burden, and accounting noise are stripped out.</li><li>Coliwoo had 25 properties and 2,933 rooms on 30 September 2025, split across 11 owned, 10 leased, and 4 managed properties, with 350 rooms leased to third-party operators and 714 rooms under renovation and not yet operational.</li><li>The company aims to expand towards close to 4,000 rooms by end-2026. That gives the business real scale. </li></ul>

Coliwoo’s real test is whether a mixed owned, leased, and managed accommodation platform can convert strong occupancy and visible room growth into cleaner owner earnings after capital intensity, lease burden, and accounting noise are stripped out.Coliwoo had 25 properties and 2,933 rooms on 30 September 2025, split across 11 owned, 10 leased, and 4 managed properties, with 350 rooms leased to third-party operators and 714 rooms under renovation and not yet operational.The company aims to expand towards close to 4,000 rooms by end-2026. That gives the business real scale. 

Coliwoo Holdings Limited Initiating Coverage

Singapore

Coliwoo is a leading co-living operator that acquires or leases underutilised properties and transforms them into modern, fully furnished co-living spaces, including hotel and residence concepts. The company offers flexible leases and provides property enhancement and management services for landlords. Coliwoo was founded in 2018 and is headquartered in Singapore.

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Coliwoo (COLIWOO SP)

Coliwoo Holdings Limited: Results Update

Coliwoo delivered a positive 1HFY2026 headline update. Revenue rose 16.6% YoY to S$26.9m, gross profit rose 14.9% to S$19.1m and PATMI increased...

ICAM

Coliwoo Holdings Limited Initiating Coverage

Coliwoo’s real test is whether a mixed owned, leased, and managed accommodation platform can convert strong occupancy and visible room growth into...

ICAM

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Market Cap (USDm)

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