--- title: "Singapore SMIDs: Where Institutional Flows Are Concentrating in Early 1Q26" type: "News" locale: "en" url: "https://longbridge.com/en/news/275285539.md" description: "In early 1Q26, Singapore's 50 small- to mid-cap stocks (SMIDs) attracted significant institutional inflows, totaling approximately S$170 million in daily turnover across 10 sectors. The top 10 SMIDs, including InnoTek, Frencken, AEM, and CSE Global, focus on precision manufacturing and engineering, reflecting the city's industrial strengths. InnoTek is transitioning to AI-server and EV components, while Frencken and AEM have seen target price increases due to strong growth prospects. CSE Global has secured new electrification contracts, enhancing its order momentum. Overall, these trends indicate a positive outlook for Singapore's SMIDs in high-value manufacturing and infrastructure." datetime: "2026-02-09T00:25:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275285539.md) - [en](https://longbridge.com/en/news/275285539.md) - [zh-HK](https://longbridge.com/zh-HK/news/275285539.md) --- # Singapore SMIDs: Where Institutional Flows Are Concentrating in Early 1Q26 - The 50 SMIDs leading Singapore’s YTD net‑institutional‑inflow‑to‑market‑cap ratio in 1Q26 span 10 sectors with ~S$170M in collective daily turnover, while the 10 SMIDs with the highest ratio centre on precision manufacturing, engineering, construction, logistics, metal fabrication and resources.  - These include InnoTek, Frencken, AEM and CSE Global, reflecting the semiconductor‑adjacent and engineering‑driven tilt within the cohort. This has coincided with InnoTek’s AI‑server/EV transition, Frencken’s raised target price by two analysts, AEM’s AI/HPC visibility in Nov, and CSE Global’s electrification and data‑centre contract gains at end Dec. - The 50 SMIDs include 13 Catalist-listed stocks, including Huationg Global, a civil‑engineering and inland‑logistics provider that recently completed a fully‑subscribed S$7 million placement of 11.8 million new shares at S$0.60 each attracting institutional and accredited investors. **Singapore’s 50 small‑ to mid‑cap stocks (SMIDs) with the highest year‑to‑date net‑institutional‑inflow‑to‑market‑cap ratios in 2026 (to Feb 6) span as many as 10 sectors, with a combined average daily turnover of S$170 million.**  The 10 SMIDs with the highest ratio maintain a collective focus on precision manufacturing and testing, engineering and environmental services, construction, logistics execution, metal fabrication and resources. This somewhat mirrors the city‑state’s export‑oriented industrial depth, positioned for supply‑chain diversification and ongoing infrastructure demand. These 10 stocks also include four Technology names, with the broader backdrop of global supply chains pivoting toward reliability, technology upgrading and higher‑value industrial activity. The 10 SMIDs recording the highest net‑institutional‑inflow‑to‑market‑cap ratios on a year‑to‑date basis are tabled below.  **10 SMIDs with Highest NIF/Mkt Cap Ratio in YTD** **Code**  **YTD ADT S$M** **Mkt Cap S$M** **YTD NIF S$M** **YTD NIF /Mkt Cap**    **YTD TR %**  **Sector** **Board** InnoTek M14 1.69 177.3     5.92  **3.3%** 17 Technology Mainboard Frencken E28 10.33 714.4   20.89  **2.9%** 21 Technology Mainboard AEM SGD AWX 5.60 569.4   13.92  **2.4%** 5 Technology Mainboard CNMC Goldmine 5TP 10.49 514.7   11.63  **2.3%** 22 Materials & Resources Catalist CSE Global 544 6.13 810.8   17.15  **2.1%** 14 Technology Mainboard Sanli Env 1E3 0.64 113.7     2.35  **2.1%** \-6 Industrials Catalist Wee Hur E3B 4.43 790.6   16.28  **2.1%** 15 Industrials Mainboard Huationg Global 41B 0.37 141.8     1.92  **1.4%** 39 Industrials Catalist Nam Lee Metal G0I 0.32 170.6     2.30  **1.3%** 9 Consumer Cyclicals Mainboard Prime US Reit USD OXMU 0.76 392.9     4.91  **1.2%** 8 REITs Mainboard _Note SMIDS are stocks with current market cap from S$100 million to S$10B, and the table excludes Low Keng Huat (Singapore)._ _Note ADT refers to Average Daily Trading Turnover, NIF refers to Net Institutional Flow, TR refers to Total Return. Data as of Feb 6, 2026._  InnoTek has booked S$6 million in net institutional inflow since end of 2025, representing 3.3% of its Friday market cap of S$177 million.  The long-established precision‑engineering group is undergoing a transformation into AI‑server and EV‑related components, supported by sustained profitability since 2016, yearly dividends, and a strong net‑cash position to fund expansion beyond China. It has also announced that it has secured recommended vendor status with NVIDIA and Inspur for precision GPU‑server parts.  Frencken Group has booked S$21 million in net institutional inflow since end of 2025, representing 2.9% of its Friday market cap of S$714 million. RHB Research moved its target price from S$1.66 to S$2.03 on Feb 6 on robust growth outlook, strong economic fundamentals in Malaysia and Singapore, while Macquarie initiated coverage on Jan 16 with a S$1.76 target price. In its 9MFY25 Business Update back in November, it reported its revenue was up 12.5% to S$642.8 million, supported by stronger Mechatronics performance. The Group also ended 3QFY25 with S$149.3 million in cash, S$50.3 million in borrowings and a net‑cash balance of S$99.0 million**.** AEM Holdings has seen steady institutional accumulation, booking S$14 million in net inflows since end‑2025, equivalent to about 2.4% of its Friday market cap. In its 9MFY25 Business Update back in November, it reported its revenue up 16% year‑on‑year to S$287.5 million on a sustained ramp at a major AI/HPC customer and a more favourable product mix. Management also reaffirmed visibility of significantly higher AI/HPC customer revenue in FY26, with its memory‑test programme on track for first revenue in late FY26 before ramping into FY27. CSE Global has booked S$17 million in net institutional inflow since end of 2025, representing 2.1% of its Friday market cap of S$714 million. Going into 2026, CSE Global announced multiple new US electrification contracts alongside year‑end contract variations in the data‑centre segment, reinforcing order momentum into the new year. Management said the electrification wins underscore the Group’s engineering and systems‑integration capabilities and are expected to contribute positively over FY26 to FY28.  Across precision manufacturing, semiconductor equipment, engineering services and industrial solutions, these four SMIDs reflect Singapore’s strengths in high‑value manufacturing and infrastructure execution, with recent fund‑flow support aligning to improving business updates and clearer multi‑year demand visibility. Catalist-listed civil engineer Huationg Global has also booked S$2 million in net institutional inflow since end of 2025, representing 1.4% of its Friday market cap of S$142 million.  Principally engaged in the provision of civil engineering services for infrastructure projects and ancillary inland logistics support services Huationg Global recently completed a S$7.08 million share placement comprising 11.8 million new shares at S$0.60 each, representing an 8.73% discount to the Jan 23 VWAP of S$0.6574. The placement was fully subscribed, drawing strong demand from institutional and accredited investors. Participating institutions included Lion Global Investors, Ginko‑AGT Global Growth Fund, Amova Asset Management Asia, Asdew Acquisitions, Avanda Investment Management, and ICH Synergrowth Fund.  The 50 SMIDs recording the highest net‑institutional‑inflow‑to‑market‑cap ratios on a year‑to‑date basis are tabled below. This includes 13 stocks listed on Catalist, all of which maintain current market cap of more than S$100 million.    **50 SMIDs with Highest NIF/Mkt Cap Ratio in YTD** **Code**  **YTD ADT S$M** **Mkt Cap S$M** **YTD NIF S$M** **YTD NIF /Mkt Cap**    **YTD TR %**  **Sector** **Board** InnoTek M14 1.69 177.3     5.92  3.3% 17 Technology Mainboard Frencken E28 10.33 714.4   20.89  2.9% 21 Technology Mainboard AEM SGD AWX 5.60 569.4   13.92  2.4% 5 Technology Mainboard CNMC Goldmine 5TP 10.49 514.7   11.63  2.3% 22 Materials & Resources Catalist CSE Global 544 6.13 810.8   17.15  2.1% 14 Technology Mainboard Sanli Env 1E3 0.64 113.7     2.35  2.1% \-6 Industrials Catalist Wee Hur E3B 4.43 790.6   16.28  2.1% 15 Industrials Mainboard Huationg Global 41B 0.37 141.8     1.92  1.4% 39 Industrials Catalist Nam Lee Metal G0I 0.32 170.6     2.30  1.3% 9 Consumer Cyclicals Mainboard Prime US Reit USD OXMU 0.76 392.9     4.91  1.2% 8 REITs Mainboard Boustead F9D 1.60 1044.8   12.05  1.2% 19 Industrials Mainboard Nam Cheong 1MZ 5.06 497.7     5.71  1.1% 33 Industrials Mainboard IX Biopharma 42C 3.05 191.9     2.19  1.1% 47 Healthcare Catalist Tiong Woon BQM 0.55 228.4     2.15  0.9% 28 Industrials Mainboard Ley Choon Q0X 1.93 186.7     1.67  0.9% 59 Industrials Catalist GSH BDX 0.25 450.2     3.96  0.9% 5 Industrials Mainboard Lum Chang Creat LCC 0.42 242.6     2.03  0.8% 50 Industrials Catalist CityDev C09 25.35 8549.9   69.70  0.8% 20 Real Estate (excl. REITs) Mainboard MoneyMax Fin 5WJ 1.03 650.1     5.13  0.8% 60 Consumer Cyclicals Catalist Aoxin Q & M 1D4 2.26 182.1     1.29  0.7% 6 Healthcare Catalist Kingsmen Creative 5MZ 0.05 100.5     0.71  0.7% 0 Industrials Mainboard UOL U14 20.24 9325.2   63.69  0.7% 26 Real Estate (excl. REITs) Mainboard Intl Cement KUO 0.90 303.9     2.01  0.7% 29 Materials & Resources Mainboard Venture V03 11.71 4679.2   30.16  0.6% 7 Technology Mainboard Hong Leong Asia H22 4.26 2528.7   14.26  0.6% 41 Consumer Cyclicals Mainboard Aspial Lifestyle 5UF 0.73 499.8     2.76  0.6% 26 Consumer Cyclicals Catalist SATS S58 11.14 5626.6   30.71  0.5% \-1 Industrials Mainboard Alpha Integrated REIT M1GU 0.24 540.0     2.83  0.5% 0 REITs Mainboard Heeton 5DP 0.04 129.1     0.68  0.5% 2 Real Estate (excl. REITs) Mainboard UOB Kay Hian U10 2.20 2990.8   13.80  0.5% 19 Financial Services Mainboard UMS 558 10.45 1110.2     4.83  0.4% 10 Technology Mainboard GRC S3N 4.337 430.0     1.83  0.4% 31 Industrials Mainboard Infinity Dev ZBA 0.093 134.6     0.51  0.4% 2 Materials & Resources Catalist Baker Technology BTP 0.029 107.5     0.38  0.3% 5 Energy/ Oil & Gas Mainboard Wing Tai W05 0.700 1245.1     4.29  0.3% 15 Real Estate (excl. REITs) Mainboard Geo Energy Res RE4 2.042 691.8     2.37  0.3% \-4 Energy/ Oil & Gas Mainboard Lippo Malls Tr D5IU 0.199 116.9     0.40  0.3% \-22 REITs Mainboard Food Empire F03 3.280 1550.9     4.86  0.3% 18 Consumer Non-Cyclicals Mainboard China Aviation G92 1.853 1496.7     4.38  0.3% 5 Industrials Mainboard Straits Trading S20 0.515 862.7     2.45  0.3% 15 Materials & Resources Mainboard ValueMax T6I 0.661 1063.6     2.98  0.3% 14 Consumer Cyclicals Mainboard Vibrant Group BIP 0.040 106.7     0.28  0.3% 2 Industrials Mainboard CDL HTrust J85 1.253 1094.8     2.69  0.2% 3 REITs Mainboard Taka Jewellery 42L 0.414 110.20     0.27  0.2% 56 Consumer Cyclicals Catalist PC Partner PCT 1.197 515.89     1.24  0.2% 48 Technology Mainboard Soon Hock SHE 0.384 197.23     0.44  0.2% 0 Real Estate (excl. REITs) Mainboard Suntec Reit T82U 9.007 4315.09     9.24  0.2% 1 REITs Mainboard JEP 1J4 0.032 115.65     0.23  0.2% 4 Industrials Catalist Old Chang Kee 5ML 0.022 139.58     0.26  0.2% 2 Consumer Cyclicals Catalist China Sunsine QES 0.985 700.74     1.15  0.2% \-8 Materials & Resources Mainboard _Note SMIDS are stocks with market cap from S$100 million to S$10B, and the table excludes Low Keng Huat (Singapore)._ _Note ADT refers to Average Daily Trading Turnover, NIF refers to Net Institutional Flow, TR refers to Total Return. Data as of Feb 6, 2026._ _**Enjoying this read?**_ - _Subscribe now to our_ SGX My Gateway _newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies._ - _Stay up-to-date with our **SGX Invest**_ Telegram _channel._ ### Related Stocks - [XWA.SG](https://longbridge.com/en/quote/XWA.SG.md) - [ES3.SG](https://longbridge.com/en/quote/ES3.SG.md) - [AWX.SG](https://longbridge.com/en/quote/AWX.SG.md) - [E28.SG](https://longbridge.com/en/quote/E28.SG.md) - [G3B.SG](https://longbridge.com/en/quote/G3B.SG.md) - [XHPR.SG](https://longbridge.com/en/quote/XHPR.SG.md) - [544.SG](https://longbridge.com/en/quote/544.SG.md) - [M14.SG](https://longbridge.com/en/quote/M14.SG.md) - [STI.SG](https://longbridge.com/en/quote/STI.SG.md) ## Related News & Research - [AEM: Buy Rating Reaffirmed as Earnings Recovery Accelerates and Target Price Raised to S$14.79](https://longbridge.com/en/news/286619545.md) - [Singapore to undergo 2027 int’l review on advanced nuclear readiness](https://longbridge.com/en/news/286995294.md) - [Nearly 40% of firms hit by AI cyber events, highest amongst 15 markets](https://longbridge.com/en/news/286850969.md) - [AEM Holdings Ltd. 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