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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/isoteam-ltd" target="_blank" data-smartkarma-citation="entities:6201:1" rel="noopener">Isoteam Ltd (ISO SP)</a> is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure. </li>
<li>Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts. </li>
<li>We initiate non-rated coverage on ISOTeam. Post-COVID, the firm's order book has rebounded and profitability is back in the black since FY23. </li>
</ul>



Isoteam Ltd (ISO SP) is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure. 
Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts. 
We initiate non-rated coverage on ISOTeam. Post-COVID, the firm's order book has rebounded and profitability is back in the black since FY23. 


ISOTeam Initiation - Order Book Close to Record High

External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Strong profit recovery and margin expansion. ISOTeam posted a robust 1H25, with net profit rising by 36.5% YoY to S$1.9mn.</li><li>Revenue grew by 4.2% YoY to S$65.4mn, underpinned by stronger contributions from the A&amp;A segment.</li><li>Gross profit climbed by 18.4% YoY to S$9.9mn, with the margin expanding to 15.1%, up from 13.3%, sustaining healthy pre-pandemic levels</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Strong profit recovery and margin expansion. ISOTeam posted a robust 1H25, with net profit rising by 36.5% YoY to S$1.9mn.Revenue grew by 4.2% YoY to S$65.4mn, underpinned by stronger contributions from the A&amp;A segment.Gross profit climbed by 18.4% YoY to S$9.9mn, with the margin expanding to 15.1%, up from 13.3%, sustaining healthy pre-pandemic levelsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ISOTeam Ltd - Leveraging Public Sector Demand and Sustainability Tailwinds

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>Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27.  </li><li>Venture Corporation bought back 203,000 shares at S$12.51, accelerating its Share Buyback Plan from February 21.  </li><li>ISOTeam's 1HFY25 revenue increased 4.2% to S$65.3 million, with A&A contributing 46% of total revenue.</li></ul>

Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27.  Venture Corporation bought back 203,000 shares at S$12.51, accelerating its Share Buyback Plan from February 21.  ISOTeam's 1HFY25 revenue increased 4.2% to S$65.3 million, with A&A contributing 46% of total revenue.

Buyback Consideration Notches Higher; ISOTeam CEO Increases Stake

SPDR Straits Times Index ETF / Equity Bottom-Up

<ul>
<li>The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.</li>
<li>As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. </li>
<li>We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.</li>
</ul>


The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our corporate finance solutions.
As we initiate coverage on companies within the SGX space, Evolve Capital is committed to building a repository of insights, showcasing a diverse range of companies that embody growth potential. 
We focus on identifying compelling investment stories that can attract local and international investors, aimed at uncovering promising investment opportunities in the Catalist market and offering value through our insights.


Unveiling Potential Gems Within the Catalist

<ul><li>kopi-C with ISOTeam’s CEO: "I'm investing in both drones and professional development" For people who live in Housing Development Board (HDB) flats in Singapore, drones may soon become a common sight.</li><li>ISOTeam, which specialises in maintaining and upgrading buildings, has been using drones for façade inspections since 2021.</li></ul>

kopi-C with ISOTeam’s CEO: "I'm investing in both drones and professional development" For people who live in Housing Development Board (HDB) flats in Singapore, drones may soon become a common sight.ISOTeam, which specialises in maintaining and upgrading buildings, has been using drones for façade inspections since 2021.

kopi-C with ISOTeam’s CEO: "Why I'm investing in both drones and professional development"

Singapore

ISOTeam is a leading player in Singapore's building maintenance and estate upgrading industry, offering services such as repairs, redecoration, addition and alteration, and specialist coating and painting. The company also provides green solutions, including renewable energy installation and eco-friendly building solutions. Headquartered in Singapore, ISOTeam was founded in 1998.

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ISOTeam (ISO SP)

ISOTeam Initiation - Order Book Close to Record High

Isoteam is a SGX-Catalist listed company focusing on Singapore’s building maintenance and estate upgrading industry, providing solutions across the...

Evolve Capital Advisory Pte Ltd

ISOTeam Ltd - Leveraging Public Sector Demand and Sustainability Tailwinds

Gross profit climbed by 18.4% YoY to S$9.9mn, with the margin expanding to 15.1%, up from 13.3%, sustaining healthy pre-pandemic levels

KGI Securities

Buyback Consideration Notches Higher; ISOTeam CEO Increases Stake

Institutions were net sellers of Singapore stocks with a net outflow of S$151 million from March 21-27. Venture Corporation bought back 203,000...

Singapore Exchange Ltd (SGX)

Unveiling Potential Gems Within the Catalist

The Evolve Capital team is excited to begin its foray into equity research, with the ability to offer a more diverse set of offerings alongside our...

Evolve Capital Advisory Pte Ltd

kopi-C with ISOTeam’s CEO: "Why I'm investing in both drones and professional development"

kopi-C with ISOTeam’s CEO: "I'm investing in both drones and professional development" For people who live in Housing Development Board (HDB)...

Singapore Exchange Ltd (SGX)

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