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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<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>ISOTeam reported their 1H26 results on 11th Feb 2026. In this note, we talk about the updates.</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.
ISOTeam reported their 1H26 results on 11th Feb 2026. In this note, we talk about the updates.


ISOTeam - 1H26 Earnings Update - Execution Timing Continues to Weigh on Revenue

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.

Nam Lee Pressed Metal Industries / Equity Bottom-Up

Nam Lee Pressed Metal Industries (NLPM SP)

<ul><li>The 50 SMIDs in Singapore's YTD net-institutional-inflow-to-market-cap ratio span 10 sectors with S$170M daily turnover.</li><li>InnoTek, Frencken, AEM, and CSE Global show semiconductor-adjacent and engineering-driven focus, with significant institutional inflows.</li><li>Huationg Global completed a S$7 million share placement, attracting institutional investors, with a market cap of S$142 million.</li></ul>

The 50 SMIDs in Singapore's YTD net-institutional-inflow-to-market-cap ratio span 10 sectors with S$170M daily turnover.InnoTek, Frencken, AEM, and CSE Global show semiconductor-adjacent and engineering-driven focus, with significant institutional inflows.Huationg Global completed a S$7 million share placement, attracting institutional investors, with a market cap of S$142 million.

Singapore SMIDs: Where Institutional Flows Are Concentrating in Early 1Q26

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<li>
<a href="https://www.smartkarma.com/entities/soon-hock-enterprise-holding-pte-ltd" target="_blank" data-smartkarma-citation="entities:45970:1" rel="noopener">Soon Hock Enterprise Holding (SHOCK SP)</a> is an established real estate developer that undertakes property development and property investment in Singapore.</li>
<li>The Group’s management has been involved in the launch of more than 1,200 units of strata-titled industrial properties in Singapore, achieving a total Gross Development Value (GDV) of S$1bn.</li>
<li>We initiate coverage on Soon Hock Enterprise with a RNAV-based TP of S$0.74, representing an upside of 27.6%.</li>
</ul>



Soon Hock Enterprise Holding (SHOCK SP) is an established real estate developer that undertakes property development and property investment in Singapore.
The Group’s management has been involved in the launch of more than 1,200 units of strata-titled industrial properties in Singapore, achieving a total Gross Development Value (GDV) of S$1bn.
We initiate coverage on Soon Hock Enterprise with a RNAV-based TP of S$0.74, representing an upside of 27.6%.


Soon Hock Enterprise Initiation - Established Player with Consistent Execution

<ul><li>Institutions net bought S$481.3 million in Singapore stocks, with Marco Polo Marine and Frencken Group leading in net buying.</li><li>Marco Polo Marine secured S$100 million in ship chartering contracts and expanded its fleet with new vessels.</li><li>Frencken Group focuses on sustainable expansion with new manufacturing facilities and aims to boost semiconductor competitiveness by 2027.</li></ul>

Institutions net bought S$481.3 million in Singapore stocks, with Marco Polo Marine and Frencken Group leading in net buying.Marco Polo Marine secured S$100 million in ship chartering contracts and expanded its fleet with new vessels.Frencken Group focuses on sustainable expansion with new manufacturing facilities and aims to boost semiconductor competitiveness by 2027.

Institutions Chalk Up S$480M in Net Buying in Early October

<ul><li>The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.</li><li>The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.</li><li>iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.</li></ul>

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain.The Index saw S$382 million in net institutional inflow, with Technology sector constituents accounting for S$180 million.iFAST Corporation reported a 34.7% increase in 1HFY25 net profit, driven by growth in Hong Kong ePension business.

Recent Highlights of the FTSE ST Mid & Small Cap Index

Singapore

Wee Hur Holdings Ltd. is a Singapore-based investment holding company primarily engaged in construction, property development, fund management, and alternative investments. The company constructs residential, industrial, institutional, and commercial properties, and develops and sells residential and industrial properties in Singapore and mixed-use properties in Australia. It also operates workers' dormitories and purpose-built student accommodation. Wee Hur Holdings was founded in 1980 and is headquartered in Singapore.

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Wee Hur Holdings (WHUR SP)

ISOTeam - 1H26 Earnings Update - Execution Timing Continues to Weigh on Revenue

ISOTeam reported their 1H26 results on 11th Feb 2026. In this note, we talk about the updates and share our thoughts on the company.

Evolve Capital Advisory Pte Ltd

Singapore SMIDs: Where Institutional Flows Are Concentrating in Early 1Q26

The 50 SMIDs in Singapore's YTD net-institutional-inflow-to-market-cap ratio span 10 sectors with S$170M daily turnover. InnoTek, Frencken, AEM,...

Singapore Exchange Ltd (SGX)

Soon Hock Enterprise Initiation - Established Player with Consistent Execution

Soon Hock Enterprise Holding (SHOCK SP) is an established real estate developer that undertakes property development and property investment in...

Evolve Capital Advisory Pte Ltd

Institutions Chalk Up S$480M in Net Buying in Early October

Institutions net bought S$481.3 million in Singapore stocks, with Marco Polo Marine and Frencken Group leading in net buying. Marco Polo Marine...

Singapore Exchange Ltd (SGX)

Recent Highlights of the FTSE ST Mid & Small Cap Index

The FTSE ST Mid & Small Cap Index generated a 9% total return in 3Q25 to Aug 12, led by PropNex with a 52% gain. The Index saw S$382 million...

Singapore Exchange Ltd (SGX)

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