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.

Thematic (Sector/Industry)

<ul><li>Passenger traffic has rebounded beyond 2019 levels, led by Asia -Pacific’s long -haul reopening and tourism demand.</li><li>By 2034, global trips could reach 12bn. </li><li>Yet aircraft delivery backlogs, slot congestion, and labor shortages limit supply growth. </li></ul>

Passenger traffic has rebounded beyond 2019 levels, led by Asia -Pacific’s long -haul reopening and tourism demand.By 2034, global trips could reach 12bn. Yet aircraft delivery backlogs, slot congestion, and labor shortages limit supply growth. 

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

<ul>
<li>OCBC: REIT spin-off is a positive move for Boustead.</li>
<li>CDG's prequalification for Copenhagen Metro boosts profile; CityCab deal may add EPS.</li>
<li>DBS increases AEM target price to $2.10, citing Intel-Nvidia collaboration.</li>
</ul>


OCBC: REIT spin-off is a positive move for Boustead.
CDG's prequalification for Copenhagen Metro boosts profile; CityCab deal may add EPS.
DBS increases AEM target price to $2.10, citing Intel-Nvidia collaboration.


Singapore Market Roundup (19-Sep-2025): OCBC Views Boustead's REIT Spin-Off as a Positive Step.

<ul>
<li>Maybank sets Food Empire target at $2.92; CGS holds bullish $2.94.</li>
<li>RHB downgrades APAC Realty, citing support from its dividend yield.</li>
<li>UOBKH's Loh raises Hong Leong Asia target price to $2.82, citing BRC Asia stake.</li>
</ul>


Maybank sets Food Empire target at $2.92; CGS holds bullish $2.94.
RHB downgrades APAC Realty, citing support from its dividend yield.
UOBKH's Loh raises Hong Leong Asia target price to $2.82, citing BRC Asia stake.


Singapore Market Roundup (16-Sep-2025): Maybank Targets Food Empire at $2.92; CGS Sees $2.94.

<ul><li>UOBKH's Loh raises Hong Leong Asia target price to $2.82 due to BRC Asia stake.</li><li>RHB's Jaiswal raises SGX target price to $17.80 amid growing IPO momentum.</li><li>PhillipCapital starts coverage on SIA Engineering amid MRO upcycle.</li></ul>

UOBKH's Loh raises Hong Leong Asia target price to $2.82 due to BRC Asia stake.RHB's Jaiswal raises SGX target price to $17.80 amid growing IPO momentum.PhillipCapital starts coverage on SIA Engineering amid MRO upcycle.

Singapore Market Roundup (15-Sep-2025): UOBKH's Loh raises Hong Leong Asia target to $2.82.

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 294% versus MSCI ASEAN’s 57%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 294% versus MSCI ASEAN’s 57%


Singapore

SIA Engineering Company provides aircraft maintenance, repair, and overhaul (MRO) services, encompassing airframe, line, cabin, fleet management, components, and engines. It is a major MRO provider in the Asia-Pacific region, offering comprehensive solutions to international airlines and aerospace companies. The company is headquartered in Singapore and was incorporated in 1982.

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SIA Engineering Company (SIE SP)

Aviation Innovation in Singapore

By 2034, global trips could reach 12bn. Yet aircraft delivery backlogs, slot congestion, and labor shortages limit supply growth.

ICAM

Singapore Market Roundup (19-Sep-2025): OCBC Views Boustead's REIT Spin-Off as a Positive Step.

OCBC sees Boustead's REIT spin-off positively; CDG's Copenhagen Metro prequalification enhances its profile; DBS raises AEM target price to $2.10...

Singapore Market Roundup

Singapore Market Roundup (16-Sep-2025): Maybank Targets Food Empire at $2.92; CGS Sees $2.94.

Maybank targets Food Empire at $2.92; CGS at $2.94. RHB downgrades APAC Realty. UOBKH raises Hong Leong Asia target to $2.82, citing BRC Asia stake.

Singapore Market Roundup

Singapore Market Roundup (15-Sep-2025): UOBKH's Loh raises Hong Leong Asia target to $2.82.

UOBKH raises Hong Leong Asia's target price to $2.82; RHB raises SGX to $17.80 with IPO momentum; PhillipCapital begins coverage on SIA Engineering...

Singapore Market Roundup

The Stocks to Own in ASEAN – Vol. 52

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

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