Report Summary

• InnoTek Limited (\$0.815): Successfully completed private placement, raising S\$16.0 million for expansion in Southeast Asia and AI server-related manufacturing. CEO also selling 6.15 million vendor shares at S\$0.6506/share. Placement shares represent 9.54% of enlarged share capital. At current price, trades at 30x FY26 PE, 1.1x book, and 2.5% yield.
• Beng Kuang Marine (\$0.45): Solid start to FY2026 with S\$55.9 million order book. Key earnings driver ASOM secured S\$27.6 million contracts, with upside potential from ongoing West Africa lifecycle contracts. Target price \$0.535 (18.9% upside). BUY call maintained.
• Olam Group (\$0.89): Regulatory approvals for sale of 44.58% stake in Olam Agri to SALIC obtained. Successful sale may trigger debt reduction, special dividends, and further corporate actions. BUY recommendation reiterated.