The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

Thematic (Sector/Industry)

<ul><li>Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the Artificial Intelligence (AI) sector, both directly and indirectly.</li><li>On direct exposure, we identify companies listed on the SGX – mainly in the upstream (including data centres) and midstream segments - which are, to a large or some extent, involved in AI. Downstream AI companies are predominately end-users and applications.</li><li>As a rough guide, the market capitalization of these companies totals around SGD21.3bn, accounting for a relatively small share of about 2.7% of the aggregated capitalization of SGD773bn of the FTSE Straits Times All Share Index (which comprises the top 98% of companies in the SGX Mainboard universe).</li></ul>

Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the Artificial Intelligence (AI) sector, both directly and indirectly.On direct exposure, we identify companies listed on the SGX – mainly in the upstream (including data centres) and midstream segments - which are, to a large or some extent, involved in AI. Downstream AI companies are predominately end-users and applications.As a rough guide, the market capitalization of these companies totals around SGD21.3bn, accounting for a relatively small share of about 2.7% of the aggregated capitalization of SGD773bn of the FTSE Straits Times All Share Index (which comprises the top 98% of companies in the SGX Mainboard universe).

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.

<ul><li>Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.</li><li>But this growth has been driven more by regulation, subsidies, and public mandates than by genuine market demand.</li><li>The bulk of adoption has come from corporate fleets (taxis, buses, and logistics operators) where high daily mileage makes electrification viable.</li></ul>

Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.But this growth has been driven more by regulation, subsidies, and public mandates than by genuine market demand.The bulk of adoption has come from corporate fleets (taxis, buses, and logistics operators) where high daily mileage makes electrification viable.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>Singapore's electronic NODX rose 94.8% year-on-year in May 2026, driven by AI-related demand for integrated circuits.</li><li>UMS Integration, AEM Holdings, and Frencken Group attracted over S$680 million in net institutional inflows year-to-date.</li><li>Addvalue Technologies' revenue grew 59.9% to US$24.8 million in FY2026, driven by space connectivity and digital radio solutions demand.</li></ul>

Singapore's electronic NODX rose 94.8% year-on-year in May 2026, driven by AI-related demand for integrated circuits.UMS Integration, AEM Holdings, and Frencken Group attracted over S$680 million in net institutional inflows year-to-date.Addvalue Technologies' revenue grew 59.9% to US$24.8 million in FY2026, driven by space connectivity and digital radio solutions demand.

Sector Sweep – AI capex cycle drives institutional inflows and gains for Singapore’s listed tech manufacturers

<ul><li>CSE Global's FY24 revenue rose 18.8% y-o-y to S$861 million, with significant growth in Electrification and Automation.</li><li>The Group's operating profit and EBITDA grew by 41.3% and 29.1% y-o-y, supported by improved operating leverage.</li><li>CSE Global completed a share placement raising S$24 million, partially used for acquiring RFC Wireless, Inc.</li></ul>

CSE Global's FY24 revenue rose 18.8% y-o-y to S$861 million, with significant growth in Electrification and Automation.The Group's operating profit and EBITDA grew by 41.3% and 29.1% y-o-y, supported by improved operating leverage.CSE Global completed a share placement raising S$24 million, partially used for acquiring RFC Wireless, Inc.

10 in 10 with CSE Global - Leveraging Urbanisation, Electrification, and AI Megatrends for Growth

<ul><li>Singapore's Mid-to-Small Cap group averaged S$40 million daily trading turnover, with Technology stocks contributing 35% over 8 weeks.</li><li>UMS, CSE Global, and Valuetronics ranked among the top 10 Mid-to-Small Cap stocks with highest net institutional inflow.</li><li>PC Partner Group anticipates FY24 net profit of at least HK$250 million, up from HK$60 million in FY23.</li></ul>

Singapore's Mid-to-Small Cap group averaged S$40 million daily trading turnover, with Technology stocks contributing 35% over 8 weeks.UMS, CSE Global, and Valuetronics ranked among the top 10 Mid-to-Small Cap stocks with highest net institutional inflow.PC Partner Group anticipates FY24 net profit of at least HK$250 million, up from HK$60 million in FY23.

Tech Sector's Recent Influence on Singapore's Mid-to-Small Cap Stocks

Singapore

CSE Global is an international technology company that provides total integrated industrial automation, information technology, and intelligent transport solutions. It offers electrification, communications, and automation solutions, including process control systems, two-way radio communications, and data center solutions. The company was founded in 1985 and is headquartered in Singapore.

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CSE Global (CSE SP)

Singapore Equity Strategy: November 2025

Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the...

Wealth Management Alliance

EV and Sustainable Transport

Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.

ICAM

Sector Sweep – AI capex cycle drives institutional inflows and gains for Singapore’s listed tech manufacturers

Singapore's electronic NODX rose 94.8% year-on-year in May 2026, driven by AI-related demand for integrated circuits. UMS Integration, AEM...

Singapore Exchange Ltd (SGX)

10 in 10 with CSE Global - Leveraging Urbanisation, Electrification, and AI Megatrends for Growth

CSE Global's FY24 revenue rose 18.8% y-o-y to S$861 million, with significant growth in Electrification and Automation. The Group's operating...

Singapore Exchange Ltd (SGX)

Tech Sector's Recent Influence on Singapore's Mid-to-Small Cap Stocks

Singapore's Mid-to-Small Cap group averaged S$40 million daily trading turnover, with Technology stocks contributing 35% over 8 weeks. UMS, CSE...

Singapore Exchange Ltd (SGX)

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