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. 

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>In this insight we present GHG emissions and energy consumption metrics of select SGX-listed transport companies relative to their revenue and assets </li>
<li>We also relate certain balance sheet characteristics to higher levels of GHG emissions and energy consumption among these companies</li>
<li>Finally, we offer a framework investors can use to evaluate a transport company's ability to significantly lower emissions and energy consumption going forward</li>
</ul>


In this insight we present GHG emissions and energy consumption metrics of select SGX-listed transport companies relative to their revenue and assets 
We also relate certain balance sheet characteristics to higher levels of GHG emissions and energy consumption among these companies
Finally, we offer a framework investors can use to evaluate a transport company's ability to significantly lower emissions and energy consumption going forward


How They Roll: Emissions and Energy Consumption of SGX-Listed Transport Companies

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 economy in 2H26 is bolstered by AI demand, infrastructure investment, and resilient services amid global cost pressures.  </li><li>Financial services led July's top performers, with Great Eastern Holdings, Pan-United, and OCBC showing significant total returns.  </li><li>Institutional net outflows in July were S$464 million, while retail investors net bought S$545 million, indicating differing market strategies.  </li></ul>

Singapore's economy in 2H26 is bolstered by AI demand, infrastructure investment, and resilient services amid global cost pressures.  Financial services led July's top performers, with Great Eastern Holdings, Pan-United, and OCBC showing significant total returns.  Institutional net outflows in July were S$464 million, while retail investors net bought S$545 million, indicating differing market strategies.  

STI Chalks Up Strongest Monthly Gains since Nov 2020 with 8.8% Rally  

<ul><li>STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY.</li><li>Retail flows concentrated in DBS, Singapore Telecommunications, CapitaLand Ascendas REIT, Genting Singapore, and Sembcorp Industries, with OCBC recording both net institutional and retail inflows.</li><li>SATS reported FY26 EPS of 19.2 cents, with current consensus forecast for FY27F EPS at 21.825 cents, illustrating evolving earnings expectations.</li></ul>

STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY.Retail flows concentrated in DBS, Singapore Telecommunications, CapitaLand Ascendas REIT, Genting Singapore, and Sembcorp Industries, with OCBC recording both net institutional and retail inflows.SATS reported FY26 EPS of 19.2 cents, with current consensus forecast for FY27F EPS at 21.825 cents, illustrating evolving earnings expectations.

STI Hits Record as Focus Shifts to Earnings

Singapore Technologies Engineering / Equity Bottom-Up

Singapore Technologies Engineering (STE SP)

<ul><li>Institutional net outflow totaled S$140.4M through 13 July, while Industrials recorded S$170.2M net institutional inflow.</li><li>Singapore Airlines, SATS, and Singapore Technologies Engineering led Industrials inflow, with significant net institutional inflows relative to ADT.</li><li>Technology sector had S$580M net inflow in 1H26, but S$90.5M outflow through 13 July, reversing prior gains.</li></ul>

Institutional net outflow totaled S$140.4M through 13 July, while Industrials recorded S$170.2M net institutional inflow.Singapore Airlines, SATS, and Singapore Technologies Engineering led Industrials inflow, with significant net institutional inflows relative to ADT.Technology sector had S$580M net inflow in 1H26, but S$90.5M outflow through 13 July, reversing prior gains.

Recent Industrial Inflows Driven by Transportation, Logistics & Engineering

Singapore

Singapore Airlines is the flag carrier of Singapore, offering full-service international passenger and cargo air transportation. It operates a dual-brand strategy with its premium services and the low-cost carrier Scoot, serving numerous destinations globally. The company is headquartered in Airline House, Changi, Singapore, and was incorporated in 1972.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Singapore Airlines (SIA 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

How They Roll: Emissions and Energy Consumption of SGX-Listed Transport Companies

In this insight we analyze the emissions and energy consumption characteristics of a range of SGX-listed transport companies.

Tracking Traffic

STI Chalks Up Strongest Monthly Gains since Nov 2020 with 8.8% Rally

Singapore's economy in 2H26 is bolstered by AI demand, infrastructure investment, and resilient services amid global cost pressures. Financial...

Singapore Exchange Ltd (SGX)

STI Hits Record as Focus Shifts to Earnings

STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY. Retail...

Singapore Exchange Ltd (SGX)

Recent Industrial Inflows Driven by Transportation, Logistics & Engineering

Institutional net outflow totaled S$140.4M through 13 July, while Industrials recorded S$170.2M net institutional inflow. Singapore Airlines,...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)