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>This report looks at how Singapore “exports” experiences rather than products. Foreign visitors, patients, students and shoppers spend time in hotels, hospitals, schools, malls and attractions.</li><li>Their spending shows up as travel, healthcare, education and other services exports.</li><li>Between 2014 and 2024, Singapore’s services trade grew about 9.4% a year, faster than nominal GDP, and reached roughly 136% of GDP by 2024.</li></ul>

This report looks at how Singapore “exports” experiences rather than products. Foreign visitors, patients, students and shoppers spend time in hotels, hospitals, schools, malls and attractions.Their spending shows up as travel, healthcare, education and other services exports.Between 2014 and 2024, Singapore’s services trade grew about 9.4% a year, faster than nominal GDP, and reached roughly 136% of GDP by 2024.

Equity Bottom-Up

Haw Par Corporation Limited is an investment holding company whose subsidiaries manufacture, market, and trade healthcare products under the Tiger and Kwan Loong brand names.  The Company also manufactures dietary supplements and pharmaceuticals, and operates recreational centers.  Haw Par invests in properties and securities.

<ul><li>Haw Par is a Singapore-listed group built around two very different engines.</li><li>The first is Healthcare, which owns and markets the Tiger Balm and Kwan Loong brands.</li><li>These products are sold across ASEAN, North Asia and global export markets and remain the group’s main operating business. </li></ul>

Haw Par is a Singapore-listed group built around two very different engines.The first is Healthcare, which owns and markets the Tiger Balm and Kwan Loong brands.These products are sold across ASEAN, North Asia and global export markets and remain the group’s main operating business. 

Skylink Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides purchasing, insurance, financing, workshop servicing and repairs, as well as customized engineering solutions for commercial vehicles. Skylink Holdings serves customers in Singapore.

<ul><li>Skylink provides financing and fleet solutions centered on commercial vehicles, ride-hailing cars, and related after-sales services.</li><li>The model combines principal loan book generation, vehicle ownership and remarketing, and workshop support.</li><li>Revenue is recognized on transfer of control for vehicle sales and over time for service elements where contracted.</li></ul>

Skylink provides financing and fleet solutions centered on commercial vehicles, ride-hailing cars, and related after-sales services.The model combines principal loan book generation, vehicle ownership and remarketing, and workshop support.Revenue is recognized on transfer of control for vehicle sales and over time for service elements where contracted.

Skylink Holdings Limited Initiating Coverage

AvePoint, Inc. operates as a software company. The Company develops SaaS solutions to migrate, manage, and protect data and IT infrastructure. AvePoint serves customers worldwide.

<ul><li>AvePoint is a global subscription software company that helps organizations manage, protect and govern collaboration data sitting in cloud platforms such as Microsoft 365 and other SaaS tools.</li><li>Its platform combines backup, data protection, governance and modernization so that customers can keep using these tools and newer AI features without losing control of security or compliance.</li><li>In 2024 it generated US$330m of revenue, up 22% from 2023, with SaaS contributing roughly 70% of the total and recurring revenue 87%.</li></ul>

AvePoint is a global subscription software company that helps organizations manage, protect and govern collaboration data sitting in cloud platforms such as Microsoft 365 and other SaaS tools.Its platform combines backup, data protection, governance and modernization so that customers can keep using these tools and newer AI features without losing control of security or compliance.In 2024 it generated US$330m of revenue, up 22% from 2023, with SaaS contributing roughly 70% of the total and recurring revenue 87%.

Lum Chang Creations Limited operates as a property management, interior designing, and construction firm. The Firm provides infrastructure development, building, construction management, and restoration services of properties for conversation. Lum Chang Creations serves civil, commercial, hospital, hotels, leisure, industrial, and residential sectors worldwide.

<ul>
<li>Lum Chang Creations Limited (LCC) is a niche urban - revitalization specialist, that covers complex conservation and restoration of heritage assets, flagship interior fit -outs for retail/hospitality/healthcare, and A&amp;A (Additions and Alterations) works that upgrade brownfield buildings.</li>
<li>The company’s service include aftercare for retail programs and selective in-house joinery to control quality on signature elements.</li>
<li>The operating model is asset -light, with a focus on specialist know -how, repeatable delivery processes, and disciplined subcontractor management.</li>
</ul>


Lum Chang Creations Limited (LCC) is a niche urban - revitalization specialist, that covers complex conservation and restoration of heritage assets, flagship interior fit -outs for retail/hospitality/healthcare, and A&amp;A (Additions and Alterations) works that upgrade brownfield buildings.
The company’s service include aftercare for retail programs and selective in-house joinery to control quality on signature elements.
The operating model is asset -light, with a focus on specialist know -how, repeatable delivery processes, and disciplined subcontractor management.


Lum Chang Creations Limited: Initiating Coverage

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.