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

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<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>
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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

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>The FTSE ST Industrials Index saw a 17% total return in 2025, with S$588M net institutional inflows.</li><li>ST Engineering achieved a 78% total return, driven by diversified business and strategic digital investments.</li><li>OKP Holdings' share price surged 200% YTD, supported by a S$736M order book and AI-driven automation.</li></ul>

The FTSE ST Industrials Index saw a 17% total return in 2025, with S$588M net institutional inflows.ST Engineering achieved a 78% total return, driven by diversified business and strategic digital investments.OKP Holdings' share price surged 200% YTD, supported by a S$736M order book and AI-driven automation.

Industrials Lead the Charge: FTSE ST Industrials Outpaced STI Since February

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Lone Star acquires Yokohama apartment block from Mapletree for hotel project, expanding their investment portfolio in the real estate sector.</li><li>Former executives from BlackRock and CapitaLand, including Simon Treacy, are taking on leadership roles in the energy startup PolarBlue.</li><li>It is important to stay positive and keep moving forward in the face of challenges, as success is attainable with perseverance and determination.</li></ul>

Lone Star acquires Yokohama apartment block from Mapletree for hotel project, expanding their investment portfolio in the real estate sector.Former executives from BlackRock and CapitaLand, including Simon Treacy, are taking on leadership roles in the energy startup PolarBlue.It is important to stay positive and keep moving forward in the face of challenges, as success is attainable with perseverance and determination.

Asia Real Estate Tracker (24-Apr-2025): Lone Star buys Yokohama block for hotel project.

<ul><li>Warburg Pincus partners with Eastgate to acquire Tokyo office as part of Life Sciences joint venture, expanding their investment portfolio.</li><li>Greystar purchases GIC-Wee Hur Aussie student housing for $1B, solidifying their presence in the Australian real estate market.</li><li>Iron Mountain makes strategic move by acquiring Web Werks, an Indian data center group, enhancing their capabilities in the data management sector.</li></ul>

Warburg Pincus partners with Eastgate to acquire Tokyo office as part of Life Sciences joint venture, expanding their investment portfolio.Greystar purchases GIC-Wee Hur Aussie student housing for $1B, solidifying their presence in the Australian real estate market.Iron Mountain makes strategic move by acquiring Web Werks, an Indian data center group, enhancing their capabilities in the data management sector.

Asia Real Estate Tracker (03-Apr-2025): Warburg Pincus buys Tokyo office in life sciences JV.

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>OCBC downgrades UOB to 'hold' due to new high share price, signaling potentially limited growth opportunities.</li><li>CGSI reinitiates coverage on Food Empire, sets ambitious new target price at $1.43, indicating strong growth potential.</li><li>UOB Kay Hian raises Digital Core REIT's target price to 99 US cents and maintains 'buy' on SingPost, with positive outlook for both companies.</li></ul>

OCBC downgrades UOB to 'hold' due to new high share price, signaling potentially limited growth opportunities.CGSI reinitiates coverage on Food Empire, sets ambitious new target price at $1.43, indicating strong growth potential.UOB Kay Hian raises Digital Core REIT's target price to 99 US cents and maintains 'buy' on SingPost, with positive outlook for both companies.

Singapore Market Roundup (10-Jan-2025): OCBC downgrades UOB to 'hold'.

Singapore

Wee Hur Holdings Ltd provides building construction services and acts as the management or main contractor in construction projects for both private and public sectors. The Company's clients from the private sector include property owners and developers, and those from the public sector comprise government bodies and statutory boards.

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Wee Hur Holdings (WHUR 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

Industrials Lead the Charge: FTSE ST Industrials Outpaced STI Since February

The FTSE ST Industrials Index saw a 17% total return in 2025, with S$588M net institutional inflows. ST Engineering achieved a 78% total return,...

Singapore Exchange Ltd (SGX)

Asia Real Estate Tracker (24-Apr-2025): Lone Star buys Yokohama block for hotel project.

Lone Star acquires Yokohama property for hotel, Simon Treacy takes chair at PolarBlue. Keep moving forward!

Asia Real Estate Tracker

Asia Real Estate Tracker (03-Apr-2025): Warburg Pincus buys Tokyo office in life sciences JV.

Warburg Pincus makes multiple acquisitions in Japan and India, while Greystar acquires Australian student housing in billion-dollar deals.

Asia Real Estate Tracker

Singapore Market Roundup (10-Jan-2025): OCBC downgrades UOB to 'hold'.

OCBC downgrades UOB to 'hold', CGSI reinitiates coverage on Food Empire, UOB Kay Hian raises Digital Core REIT target price and maintains 'buy' on...

Singapore Market Roundup

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