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>The global medical technology (MedTech) market is estimated to hit the USD1 trillion mark by mid to late 2030s, driven by aging populations, a growing incidence of chronic diseases and improving technology. Asia Pacific accounts for an estimated 20-25% of the global market, with growth underpinned by rising middle-class demand.</li><li>Singapore is a leading MedTech manufacturing and innovation hub in the region, as well as a key component of the country’s biomedical sector.</li><li>Singapore’s overall MedTech industry is highly vibrant, given the presence of the world’s top multinationals operating here, to account for some 80-90% of the industry’s total output.</li></ul>

The global medical technology (MedTech) market is estimated to hit the USD1 trillion mark by mid to late 2030s, driven by aging populations, a growing incidence of chronic diseases and improving technology. Asia Pacific accounts for an estimated 20-25% of the global market, with growth underpinned by rising middle-class demand.Singapore is a leading MedTech manufacturing and innovation hub in the region, as well as a key component of the country’s biomedical sector.Singapore’s overall MedTech industry is highly vibrant, given the presence of the world’s top multinationals operating here, to account for some 80-90% of the industry’s total output.

Singapore Medtech Industry: High Growth but a Critical Mass Will Hinge on More Company Listings

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>Over 70 SGX primary-listed companies repurchased S$2.09 billion in shares in 8M26, up from S$1.57 billion in 8M25.</li><li>Singtel led with S$948.6 million in buybacks, aiming for a 3% EPS accretion through its S$2 billion programme.</li><li>Seatrium's buybacks reached S$99.7 million, nearing full deployment of its S$100 million programme since 2024.</li></ul>

Over 70 SGX primary-listed companies repurchased S$2.09 billion in shares in 8M26, up from S$1.57 billion in 8M25.Singtel led with S$948.6 million in buybacks, aiming for a 3% EPS accretion through its S$2 billion programme.Seatrium's buybacks reached S$99.7 million, nearing full deployment of its S$100 million programme since 2024.

2026 Buyback Consideration Surpasses S$2 Billion

<ul><li>Over five sessions to 25 June, directors and CEOs reported 21 acquisitions and five disposals across 30 primary-listed stocks.</li><li>Soon Hock Enterprise's Executive Chairman increased his direct interest to 73.32% with a purchase of 2,033,000 shares.</li><li>Lum Chang Creations entered a placement agreement for up to 35 million shares, raising up to S$11.4 million.</li></ul>

Over five sessions to 25 June, directors and CEOs reported 21 acquisitions and five disposals across 30 primary-listed stocks.Soon Hock Enterprise's Executive Chairman increased his direct interest to 73.32% with a purchase of 2,033,000 shares.Lum Chang Creations entered a placement agreement for up to 35 million shares, raising up to S$11.4 million.

Director Accumulation Extends Across Established and Newly Listed Counters

<ul><li>Singapore Telecommunications led buybacks with 13.3 million shares at S$4.33 under a S$2 billion programme.</li><li>Ho Bee Holdings acquired 334,700 shares, raising Chua Thian Poh’s deemed interest from 75.737% to 75.788%.</li><li>Nam Cheong's 1QFY26 PATMI increased 160% to RM78.9 million, with net gearing reduced to 0.17 times.</li></ul>

Singapore Telecommunications led buybacks with 13.3 million shares at S$4.33 under a S$2 billion programme.Ho Bee Holdings acquired 334,700 shares, raising Chua Thian Poh’s deemed interest from 75.737% to 75.788%.Nam Cheong's 1QFY26 PATMI increased 160% to RM78.9 million, with net gearing reduced to 0.17 times.

Ho Bee chair ups stake; M&G becomes substantial unitholder in NetLink NBN Trust

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a> is set to hog the limelight this week with pricing set to be announced on the 4th of June</li>
<li>There were a few placements over the past week, while we also had a look at some of the upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, SpaceX (SPCX US) is set to hog the limelight this week with pricing set to be announced on the 4th of June
There were a few placements over the past week, while we also had a look at some of the upcoming lockup expiries.


Aequitas ECM Weekly (1 June 2026) - SpaceX, GO, Dajin, SharonAI, KK Mart, CIG, Kbank, Ultragreen

Singapore

UltraGreen.ai is a global leader in fluorescence-guided surgery (FGS), specializing in the development, contracted manufacture, and commercialization of indocyanine green (ICG) fluorescence agents. The company also provides the IC-Flow Imaging System and the UltraGreen Data Platform, which incorporates AI-powered PerfusionWorks quantification software for real-time surgical insights. Headquartered in Singapore, the company was incorporated in 2024.

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UltraGreen.ai (UGAI SP)

Singapore Medtech Industry: High Growth but a Critical Mass Will Hinge on More Company Listings

The global medical technology (MedTech) market is estimated to hit the USD1 trillion mark by mid to late 2030s, driven by aging populations, a...

Wealth Management Alliance

2026 Buyback Consideration Surpasses S$2 Billion

Over 70 SGX primary-listed companies repurchased S$2.09 billion in shares in 8M26, up from S$1.57 billion in 8M25. Singtel led with S$948.6...

Singapore Exchange Ltd (SGX)

Director Accumulation Extends Across Established and Newly Listed Counters

Over five sessions to 25 June, directors and CEOs reported 21 acquisitions and five disposals across 30 primary-listed stocks. Soon Hock...

Singapore Exchange Ltd (SGX)

Ho Bee chair ups stake; M&G becomes substantial unitholder in NetLink NBN Trust

Singapore Telecommunications led buybacks with 13.3 million shares at S$4.33 under a S$2 billion programme. Ho Bee Holdings acquired 334,700...

Singapore Exchange Ltd (SGX)

Aequitas ECM Weekly (1 June 2026) - SpaceX, GO, Dajin, SharonAI, KK Mart, CIG, Kbank, Ultragreen

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

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Market Cap (USDm)

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