Industrials take sector lead in 2025 net institutional inflow

Over the five trading sessions from Jul 4 to 10, institutions were net buyers of Singapore stocks, with net institutional inflow of S$94 million adding to the S$184 million net inflow for the preceding five sessions. This takes the net institutional outflow for the 2025 year to Jul 10 to S$1.76 billion.  

Institutional flows 

Over the five trading sessions until Jul 10, the stocks that saw the highest net institutional outflow were all STI constituents, including Singtel, OCBC, Keppel, CapitaLand Investment, ST Engineering, Sembcorp Industries, Singapore Airlines, Wilmar International, Thai Beverage and Seatrium. 

Meanwhile, Keppel DC Reit, Frasers Centrepoint Trust, Mapletree Logistics Trust, ComfortDelGro Corporation, UOB, Mapletree Industrial Trust, Mapletree PanAsia Commercial Trust, Suntec Reit, Hongkong Land Holdings, Singapore Exchange led the net institutional outflow over the five sessions.

From a sector perspective, telecommunications and financial services booked the highest net institutional inflow, while Real Estate Investment trusts (Reits) and healthcare saw the most net institutional outflow. Haw Par Corporation and Riverstone Holdings led the healthcare sector in net institutional outflow. 

Industrials takes lead on net institutional sector inflows in 2025

Last week, the accumulated net institutional inflows into the industrials sector for 2025 surpassed those of the telecommunication sector, highlighting the sector’s recent appeal among investors. This sees the industrials sector booking S$629 million of net institutional inflow for the 2025 year to Jul 10. 

Of the seven STI industrial stocks, five including Singapore Airlines, ST Engineering, Keppel, Jardine Matheson Holdings, Seatrium, have booked net institutional inflow. 

Outside of the Straits Times Index (STI), ISOTeam has booked a net institutional inflow of S$4.4 million this year, which represents 7 per cent of its S$59 million market capitalisation as at Jul 10. Listed on Catalist, ISOTeam is one of Singapore’s leading facilities maintenance specialists for the public sector.

Some 12 months ago, the company established ISOTeam BuildTech to spearhead its artificial intelligence and robotics-driven solutions for the built environment, including autonomous facade inspection and indoor painting technologies. The group expects to commercialise its robotic workforce by end-2025, enhancing productivity, work quality, and safety across its operations.

More recently on Jul 2, ISOTeam announced it had secured approximately S$21 million in new contracts across six segments, including coating and painting, addition and alteration, landscaping, renewable solutions, interior design, and repair and redecoration. These projects span high-profile sites such as Tuas Terminal Gateway, Resorts World Sentosa, and Orchard Gateway, with completion timelines ranging from late 2025 to mid-2027. 

ISOTeam is a leading eco-conscious player in Singapore’s building maintenance and estate upgrading industry, with over 20 years of experience in repairs and redecoration, and addition and alteration works. This year, the average daily trading turnover of the stock has also trebled from the 2024 levels, while price gains have increased the price-to-earnings (p/e) ratio from 5.9 times to 8.9 times, supported by its current return-on-equity ratio of 19 per cent.

On Jul 7, Maybank’s Jarick Seet noted that ISOTeam’s AI drone-painting solution, which could reduce costs by 30 to 40 per cent and aligns with the Singapore government’s goal of using technology to reduce manpower, will begin testing on an HDB site by September 2025, with plans to expand to more estates if successful.

Share buybacks

The five sessions through to Jul 10 saw 15 primary-listed companies make buybacks with a total consideration of S$38.6 million. UOB led the consideration tally, buying back S$35.4 million of its shares at S$36.53 apiece. On its current buyback mandate, UOB has bought back 0.54 per cent of its outstanding shares as at Jul 10.

Secondary-listed Hongkong Land Holdings also continued to conduct share repurchases, buying back 946,000 shares at an average price of US$6.23. Since Apr 24, Hongkong Land Holdings has bought back US$113.6 million of its shares. 

Director transactions

Over the five trading sessions leading up to Jul 10, a total of 70 director interests and substantial shareholdings were filed. Across 30 primary-listed stocks, directors or CEOs reported 14 acquisitions and three disposals, while substantial shareholders recorded six acquisitions and eight disposals. This included director or CEO acquisitions in Accrelist, CDW Holding, Hong Lai Huat Group, LY Corporation, Singapore Shipping Corporation, Stamford Land Corporation, Sunmoon Food Company and UOB-Kay Hian Holdings.

Hong Lai Huat Group

On Jul 8, Hong Lai Huat group executive deputy chairman and group CEO Ong Bee Huat acquired 3,999,000 shares at S$0.042 apiece. This increased his total interest from 43.30 per cent to 44.07 per cent. Responsible for the group’s overall strategic direction and planning as well as business development, his previous acquisition was a married deal with five million shares acquired at S$0.04 apiece back in May 2024.  

At the same time, Hong Lai Huat Group is strategically expanding its footprint in Cambodia, with two land banks – an 11,000 square metre (sq m) plot in Phnom Penh and a 150,000 sq m parcel in Sihanoukville – reserved for future residential or mixed-use developments aligned with urban growth and market demand. These assets form part of the group’s long-term vision to capitalise on Cambodia’s economic momentum and reinforce its position as a leading real estate developer in South-east Asia.

LY Corporation

On Jul 4, LY Corporation executive director Tan Kwee Chai acquired 401,100 shares at S$0.046 apiece. This increased his total interest in the manufacturer and exporter of wooden bedroom furniture from 73.41 per cent to 73.49 per cent. His preceding acquisitions were in December 2023 at S$0.04 apiece.

Tan is also a founder of the group, has over 40 years of experience in furniture manufacturing and design and continues to lead its strategic direction and operations, playing a pivotal role in its expansion and sustained growth. 

Operating from 22 factories and warehouses spanning 1.5 million square feet, LY Corporation primarily supplies overseas furniture dealers and retailers through established distribution networks. It also serves domestic third-party agents who export its products globally, including to key markets such as the United States. Amid evolving trade dynamics, including paused tariffs and rising labour costs, LY corporation maintains that it remains focused on disciplined cost control, operational efficiency, and higher-margin product innovation to sustain profitability and resilience. 

With a growing dealership network and strategic push into whole-house customisation, the group is positioning itself as a leading retail brand in Malaysia while actively pursuing new market opportunities through joint ventures and project-based engagements.

Following the acquisition of LY Unity Group, the dealership network has doubled from five to 10 outlets –primarily in Klang Valley – with plans underway to expand nationwide. The group is also actively pursuing project-based opportunities by engaging directly with property developers and agencies to broaden its market reach.

Singapore Shipping Corporation

Between Jul 3 and 8, Singapore Shipping Corporation executive chairman Ow Chio Kiat acquired 161,100 shares at an average price of S$0.275. This increased his total interest from 43.74 per cent to 43.77 per cent. Ow has been gradually increasing his interest from 42.97 per cent in May 2024.

SunMoon Food Company 

Between Jul 4 and 10, SunMoon Food Company executive director and CEO Zhang Ye acquired 487,600 shares. This increased his total interest from 52.31 per cent to 52.37 per cent. Zhang has gradually increased his total interest from 51.57 per cent since the group reported its FY2025 (ended Mar 31) results on May 27.

Info-Tech Systems

Info-Tech Systems officially listed on Jul 4, with Setin Subramanian Dilip Babu – executive director, CEO, and controlling shareholder – at the helm. 

Holding a direct stake of 41.42 per cent, Babu has been instrumental in shaping the company’s evolution into a leading provider of HR and accounting solutions. His journey began with a degree in agricultural engineering from Coimbatore in 1996. In pursuit of greater opportunities, he moved to Singapore in 2000, only to face the daunting challenge of unemployment. Undeterred, he printed 100 copies of his resume and personally canvassed the city, knocking on doors in search of a breakthrough.

That persistence led to his first role as a software engineer at Info-Tech Systems, then a small startup with just five employees. From those modest beginnings, Babu’s leadership propelled the company into a global enterprise, now employing over 500 staff, serving over 30,000 customers, and supporting more than one million users worldwide. He spearheaded the modernisation of Info-Tech’s legacy disc operating system and Windows systems, transforming them into a cloud-based human resources (HR) management system and accounting platform.

His mission remains clear: to deliver affordable, intuitive software that empowers small and medium-sized enterprises to streamline HR and financial operations, helping them thrive in today’s fast-paced business environment. The stock maintains a market capitalisation of S$228 million as at Jul 10.

The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research.