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Business Times
an hour ago
- Business Times
Info-Tech Systems debuts on SGX mainboard at S$0.95, 9.2% above IPO price
[SINGAPORE] Software services provider started trading on Friday (Jul 4), as Singapore welcomed its second listing in 2025 and first mainboard listing in close to two years. At 9 am, it opened at S$0.95, 9.2 per cent above its IPO price, with the stock code ITS. It climbed as high as S$0.98 at 9.03 am, up 3.2 per cent or S$0.03 from its opening price, with some 1.8 million shares changing hands. By 2.06 pm, it was down 4.7 per cent or S$0.045 at S$0.905, with 7.2 million shares transacted. Info-Tech Systems' trading debut comes two days after its initial public offering (IPO) closed, with some 24.9 million shares fully subscribed at S$0.87 apiece. The IPO comprised an international placement of around 19.9 million shares allocated for selected investors, which was 5.5 times subscribed, and an offer of five million shares available to the Singapore public, which was 14.4 times subscribed. This translates to a subscription rate of 7.3 times for all the shares on offer. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Established in 2007 by Babu Dilip, the company's chief executive officer, and Peter Lee, the group's executive chairman, Info-Tech Systems offers software services to improve the efficiency of human resource operations – including payroll, leave management and performance appraisal – and targets small and medium-sized enterprises. The IPO proceeds will go towards deepening Info-Tech System's market penetration, enhancing its brand visibility as well as expanding its suite of solutions and operations, said Babu. This could include expanding the group's geographical presence to new markets and accelerating access to new technology through inorganic acquisitions and partnerships. The Singapore-headquartered firm also operates in Malaysia, Hong Kong and India. For the financial year ended December 2024, the company recorded a 17.6 per cent rise in its net profit to S$12.3 million. Its top line grew by around 15 per cent year on year to S$43.7 million, tracking a rise in revenue of its cloud accounting software. OCBC is the sole issue manager and global coordinator for the placement, as well as the joint bookrunner and underwriter alongside CGS International Securities Singapore. The IPO comprised new shares issued and an offering of vendor shares by its executive chairman and co-founder Peter Lee and executive director Yeoh Sin Yee. Info-Tech Systems' mainboard listing follows that of automaker Vin's Holdings on the Catalist board on Apr 15. It is the first pure-play, software-as-a-service provider for human-resource management systems and accounting software to list on SGX.
CNA
an hour ago
- CNA
Mediacorp's Bloomr.SG MCN Accelerator launches its fifth edition
Mediacorp's content creator network, has launched the fifth edition of its MCN Accelerator programme. First introduced in 2021, the programme aims to supports aspiring creators in building sustainable content careers through structured training. Participants are also given the platform to explore industry resources, certifications and monetisation opportunities. This year, the programme is expanding its mission to broaden its scope, introducing new tracks aimed at equipping creators with future-ready skills to navigate the emerging trends and challenges in the digital space. The expanded curriculum features the use of AI-powered tools to support creators in ideation and help them better engage with their audiences. Some partners on board are Dear AI, Creativesatwork, as well as educational institutions such as Lasalle College of the Arts and Nanyang Academy of Fine Arts. will also be continuing their long-term partnership with YouTube. There will also be basic and advanced training modules on content creation, including content strategy, channel optimisation, talent development, production and policy guidelines. Participants will have the opportunity to join the Creator Network and take part in other Creator programmes. To date, the programme has seen over 300 content creators graduate, many of whom have completed monetisable capstone projects for clients and Mediacorp brands. Notable graduates include Wah!Banana, Celine Leong, Elizabeth Boon, Eshton Chua and Double Up Media Pte Ltd.
CNA
2 hours ago
- CNA
Higher seller's stamp duty, longer holding period for private homes to have limited impact on market: Analysts
SINGAPORE: The increase in seller's stamp duty (SSD) and holding period for private properties is meant to curb speculative growth and is expected to have a limited impact on the property market, analysts said. On Thursday (Jul 3), the Ministry of National Development (MND) announced that the holding period for private properties will increase from three to four years. Those who sell their property within four years of the purchase will also incur higher SSD, by 4 percentage points for each tier of the holding period, up to a maximum of 16 per cent for those who sell within a year of the purchase. The changes will be in effect for all private residential properties purchased on and after midnight on Friday. INCREASE IN SUB-SALES SINCE COVID-19 In introducing the tighter rules, the ministry said that there has been a significant increase in the sub-sale of units that were not yet completed. Market analysts said that the proportion of sub-sales in the market has been increasing steadily since the COVID-19 pandemic. Using data from the Urban Redevelopment Authority (URA), senior director of data analytics at Huttons Asia Lee Sze Teck showed that the proportion of sub-sales across all private residential properties increased from a low of 0.9 per cent in 2020 to a peak of 6.8 per cent in 2023. The proportion has since tapered down to 4.4 per cent in the first quarter of this year and 4.5 per cent in Q2 2025. ERA Singapore CEO Marcus Chu noted that since 2021, there had been a "significant jump" in sellers who sold their homes after holding them for between three and four years. Focusing on non-landed private homes, Mr Chu said that URA caveats show that in 2020, only 358 sellers sold their homes after holding them for three to four years, said Mr Chu. Last year, this number surged to a peak of 2,104 sellers, he added. Mr Chu said non-landed private homes in the Outside Central Region saw the highest volume of homeowners selling within three to four years, followed by the Rest of Central region and Core Central Region. Despite the increase, Mr Chu said that the majority of homeowners continue to sell their properties after holding them for five years or more. Accounting for the increase, executive director for research and consultancy at Savills Singapore Alan Cheong said that private residential prices remained pretty flat until just after the pandemic, when relaunches came and prices "gapped up". "Naturally, those who bought into the 2018, 2019 period would have a windfall gain. And because of their profit, they will naturally flip," said Mr Cheong, adding that these were mostly Singaporean buyers who were waiting for their properties to reach completion. "And just before completion, another new project gets launched, and this time around, the prices gapped up in the market," Mr Cheong said. "And those who bought ... fortunately or fortuitously for them, they see that massive gap up, and they are holding on to a windfall profit. They will flip." NO SIGNIFICANT IMPACT ON MARKET Property analysts said that there would not be a significant impact on the market, with majority of genuine homebuyers and long-term investors unlikely to be affected. Through the new measures, the government is discouraging short-term flipping and sub-sales, which have contributed to artificial demand and price volatility recently, associate head of research Joel Lim said. "This measure reinforces the notion that housing should be viewed primarily as a home rather than a quick investment vehicle," added Mr Lim. Head of research and data analytics at Singapore Realtors Inc Mohan Sandrasegeran pointed to transaction data, which noted that average holding periods for sub-sale units remain relatively stable and in many cases, exceed the four-year threshold. "This reinforces the view that recent market activity has been driven more by owner-occupiers and long-term investors rather than speculative flippers," Mr Mohan said. The changes have minimal impact on investors and homeowners with medium- to long-term horizons, and may even contribute to greater confidence as the market is protected against speculative swings, he added. Realion Group chief researcher and strategist Christine Sun noted that although the number of sub-sale transactions was higher than before the pandemic, quarterly transactions have been on a downtrend over the past few quarters. "Furthermore, most condominiums are purchased for owner-occupation, especially after the additional buyer's stamp duty (ABSD) has been raised several times. Those who buy properties for their own use will not be affected by the increased SSD, as they are likely to stay in the property for the long term." She suggested that the policy changes were introduced as a preventive measure to limit speculative growth, since more condominiums are due to obtain their temporary occupation permit (TOP). The number of sub-sale transactions might rise in line with the anticipated increase in private residential units securing TOP, which is projected to grow from 5,920 units in 2025 to 6,838 units in 2026 and further to 10,306 units in 2027, Ms Sun said. She also noted that several new projects are expected to be launched in the coming months. Lower interest rates will make housing loans more affordable, which in turn may spur more buying activity, she added. Huttons Asia's Mr Lee said that the tighter rules will reduce the number of sub-sales in the market, with the proportion likely to go below 2 per cent starting from 2026. "The buyers who would otherwise have bought a sub-sale unit will buy from the new sale market now as the number of sub-sale listings will reduce," he said. ERA's Mr Chu said that buyers have become more cautious alongside rising economic uncertainty in recent months, and more now see property as a long-term investment. He noted that even without the revision, higher costs from elevated interest rates and property taxes have eroded profits, likely resulting in investors holding properties for more than three years. "Since most homebuyers are genuine owner-occupiers or longer-term investors, this measure is a gentle touch rather than a heavy-handed approach on the overall market. It aims to stabilise any spikes caused by short-term investors. "It is not designed to crack down on the market but to reduce the froth from investors who sell shortly after the third year."
