Comprehensive and Data-Driven Reports, RHT Capital

RHT Capital

Comprehensive and Data-Driven Reports

We are a boutique corporate finance advisory firm based in Singapore, with a focused team of experienced professionals. We advise listed companies and growing enterprises on corporate finance transactions and regulatory matters, providing practical and considered advice tailored to each client’s circumstances. We are a Capital Market Services (“CMS”) license holder from the Monetary Authority of Singapore (“MAS”), and a Full Sponsor approved by the Singapore Exchange (“SGX”).

Equity Bottom-Up

<ul><li>ISDN revenues are highly leveraged to Chinese economy with 61.1% of FY2025 revenue coming from China’s industrial sector.</li><li>Largely a result of its consultancy (asset-light) model, from providing bespoke solutions and a full-service suite across different hardware equipment procurement &amp; servicing to unifying software protocols for Industrial Automation clients.</li><li>Recent efforts to diversify into higher margin Hydro-Electric portfolio seems to be paying off with an estimated 16% of revenue coming from its Indonesian hydropower business (denominated in USD).</li></ul>

ISDN revenues are highly leveraged to Chinese economy with 61.1% of FY2025 revenue coming from China’s industrial sector.Largely a result of its consultancy (asset-light) model, from providing bespoke solutions and a full-service suite across different hardware equipment procurement &amp; servicing to unifying software protocols for Industrial Automation clients.Recent efforts to diversify into higher margin Hydro-Electric portfolio seems to be paying off with an estimated 16% of revenue coming from its Indonesian hydropower business (denominated in USD).

ISDN Holdings: Asset-Light Industrial Consultancy with Hydro-Energy Infrastructure

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.

<ul><li>Institutional investors recorded a net outflow of S$336 million across Singapore-listed stocks from 31 August to 25 September.</li><li>Yangzijiang Shipbuilding saw the largest reversal with S$73.78 million net buying from 14–25 September after prior net selling.</li><li>UI Boustead REIT and CapitaLand Ascott Trust reversed outflows with recent net buying of S$17.23 million and S$6.70 million, respectively.</li></ul>

Institutional investors recorded a net outflow of S$336 million across Singapore-listed stocks from 31 August to 25 September.Yangzijiang Shipbuilding saw the largest reversal with S$73.78 million net buying from 14–25 September after prior net selling.UI Boustead REIT and CapitaLand Ascott Trust reversed outflows with recent net buying of S$17.23 million and S$6.70 million, respectively.

Net Institutional Inflow Reversals into Late September

<ul><li>Retail investors net bought S$888 million of Singapore stocks, increasing 2026 net retail inflow from S$3.13 billion to S$4.02 billion.</li><li>ISDN Holdings recorded the highest net retail inflow relative to market capitalisation, despite a 12.8% share price decline.</li><li>REITs, SingPost, ComfortDelGro, and SATS were among top stocks for net retail buying relative to market capitalisation.</li></ul>

Retail investors net bought S$888 million of Singapore stocks, increasing 2026 net retail inflow from S$3.13 billion to S$4.02 billion.ISDN Holdings recorded the highest net retail inflow relative to market capitalisation, despite a 12.8% share price decline.REITs, SingPost, ComfortDelGro, and SATS were among top stocks for net retail buying relative to market capitalisation.

Retail Investors Net Buy S$888M Over Eight Sessions

SAC Capital

Independent Insight Provider

<ul><li>ISDN Holdings (“ISDN” or “The Group”) is an industrial automation company that offers a full range of advanced automation solutions and services.</li><li>These solutions and services range from precision components and engineering services to full machine and cloud solutions.</li><li>Its components and systems power semiconductor factories, advanced medical devices, clean energy plants, electric vehicles and more across Asia. </li></ul>

ISDN Holdings (“ISDN” or “The Group”) is an industrial automation company that offers a full range of advanced automation solutions and services.These solutions and services range from precision components and engineering services to full machine and cloud solutions.Its components and systems power semiconductor factories, advanced medical devices, clean energy plants, electric vehicles and more across Asia. 

ISDN Holdings: Riding the Hydro and Electronics Wave

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>RHB boosts OCBC target price to $33.70 following Fed rate hike.                    </li>
<li>Citi cuts SGX target price and starts 90-day watch for P/E de-rating risks.</li>
<li>RHT Capital sets ISDN Holdings target price at 73 cents.</li>
</ul>


RHB boosts OCBC target price to $33.70 following Fed rate hike.                    
Citi cuts SGX target price and starts 90-day watch for P/E de-rating risks.
RHT Capital sets ISDN Holdings target price at 73 cents.


Singapore Market Roundup (05-Oct-2026): RHB raises OCBC target price to $33.70 after Fed hike.

Singapore

ISDN Holdings Limited is a Singapore-based provider of industrial automation solutions, specializing in motion control and industrial computing. The company offers design, customization, assembly, installation, and after-sales support for motion control systems, alongside industrial computing products and services, and renewable energy solutions. It was founded in 1986 and is headquartered in Singapore.

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ISDN (ISDN SP)

ISDN Holdings: Asset-Light Industrial Consultancy with Hydro-Energy Infrastructure

ISDN revenues are highly leveraged to Chinese economy with 61.1% of FY2025 revenue coming from China’s industrial sector.

RHT Capital

Net Institutional Inflow Reversals into Late September

Institutional investors recorded a net outflow of S$336 million across Singapore-listed stocks from 31 August to 25 September. Yangzijiang...

Singapore Exchange Ltd (SGX)

Retail Investors Net Buy S$888M Over Eight Sessions

Retail investors net bought S$888 million of Singapore stocks, increasing 2026 net retail inflow from S$3.13 billion to S$4.02 billion. ISDN...

Singapore Exchange Ltd (SGX)

ISDN Holdings: Riding the Hydro and Electronics Wave

ISDN Holdings (“ISDN” or “The Group”) is an industrial automation company that offers a full range of advanced automation solutions and...

SAC Capital

Singapore Market Roundup (05-Oct-2026): RHB raises OCBC target price to $33.70 after Fed hike.

RHB raises OCBC target price to $33.70 post-Fed rate hike; Citi lowers SGX target and starts 90-day watch for P/E de-rating; RHT sets ISDN at 73...

Singapore Market Roundup

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52-week Range

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