Small to Mid-Cap Stocks Booking Highest Net Institutional Inflows in 3Q25

In the first five weeks of 3Q25 through August 7, institutions net bought S$130.0 million worth of Singapore-listed stocks.

Over 90 stocks with market capitalisations above S$1 billion accounted for S$95.4 million of this inflow, though that represented just 0.01 per cent of their combined S$845 billion market value. Meanwhile, stocks with market capitalisations below S$100 million saw a combined net institutional outflow of S$7.7 million.

Sitting between these two tranches of market capitalisation were 161 stocks, that span all sectors, with market capitalisations from S$100 million to S$1 billion and a combined value of S$54 billion. The segment of 161 stocks booked S$42.3 million in net institutional inflow, representing 0.08 per cent of its combined market capitalisation—eight times the net inflow rate of the large-cap group when adjusted for size. 

Just over a quarter of these 161 stocks belong to the Industrials Sector which booked the most net institutional inflow over the period, with the Technology Sector a close second. 

Frencken Group, CSE Global, and Wee Hur Holdings booked the highest net institutional inflows among Singapore-listed stocks during the period. 

Proportionate the market capitalisation, CSE Global, and Frencken Group also led the highest net institutional inflows along with Envictus International. The table details the stocks with market capitalisations from S$100 million to S$1 billion that booked the highest net institutional inflow proportionate to market capitalisation in the first five weeks of 3Q25 through August 7. 

Envictus International 

In the first five weeks of 3Q25, Envictus International booked S$4.3 million of net institutional inflow, which represented 4.1 per cent of its S$105 million market capitalisation as of August 7. The stock maintains a 29 per cent ROE and Price-to-Earnings (P/E) ratio of 7x. The established F&B Group listed on Catalist in 2004 and upgraded to the Mainboard in 2009. 

As reported on May 9, Envictus International recorded a net profit of RM16.1 million for its 1HFY25 (ended Mar 31), driven by 17.7 per cent revenue growth to RM369.8 million. This was led by strong gains in its Food Services Division, particularly from Texas Chicken. Gross profit margin also improved to 44.7 per cent, supported by broad-based sales growth, operational efficiency, and market expansion across all divisions.

On July 29, Venice Concepts Sdn Bhd entered into a Sale and Purchase Agreement with JAG Capital Holdings Sdn Bhd to acquire 85,170,779 ordinary shares in Envictus International Holdings. This represented 28.0 per cent of the outstanding shares of the company. Venice Concepts Sdn Bhd is a wholly owned subsidiary of Paramount Corporation Bhd, listed on Bursa Malaysia. The acquisition supports Paramount Corporation Bhd’s strategy to expand its footprint in the F&B sector.

CSE Global 

In the first five weeks of 3Q25, CSE Global booked S$16.5 million of net institutional inflow, which represented 3.3 per cent of its S$497 million market capitalisation as of August 7. At the same time, the stock rallied 23 per cent, while analysts at UOB Kay Hian Research and Maybank Investment Banking Group increased their target price on the stock. The 23 per cent gain extended the rally from the end of May to 64 per cent as of August 7. The gains since end-May have lifted the P/E ratio of the leading systems integrator and global provider of electrification, communications, and automation solutions from 11x to 17x.  

On August 6, CSE Global announced it had secured S$211.3 million in new orders for 2QFY25 (ended June 30), reflecting a 3.8 per cent increase from 2QFY24 (or 7.8 per cent on a constant currency basis). The Group highlighted that the electrification segment remained the largest contributor, mainly due to higher demand from the data centre market. This saw the Group close 1HFY25 with an order book of S$573.8 million. 

Back on May 14, CSE Global reported its 1QFY25 revenue increased 4.0 per cent from 1QFY24 to S$205.5 million, primarily driven by the communications and automation segments in the Americas region. This follows its FY24 revenue reaching a new high of S$861.2 million, which was up 18.8 per cent from FY23, and mainly driven by the electrification and automation segments. 

CSE Global maintains that electrification, communications and automation will remain its core business focus areas, while it continually expands its engineering capabilities and technology solutions to adapt to evolving market demands. The Group also believe the urbanisation, electrification, decarbonisation, and artificial intelligence megatrends present significant growth opportunities. 

Frencken Group 

In the first five weeks of 3Q25, Frencken Group booked S$20.3 million of net institutional inflow, which represented 2.8 per cent of its S$713 million market capitalisation as of August 7. Over the period the share price of Frencken Group rallied 35 per cent, while analysts from DBS Group Research and CGS International and Maybank Investment Banking Group increased their target price on the stock. Phillip Capital also initiated coverage in July.  

The global technology solutions provider to leading multinationals across aerospace, life sciences, automotive, healthcare, industrial, and semiconductor sectors will release its 1HFY25 results (ended June 30) on August 14. 

On June 3,  Frencken Group’s subsidiary ETLA Limited entered into a land lease agreement with Jurong Town Corporation to develop a new manufacturing facility in Singapore, aimed at expanding and consolidating its Mechatronics operations while enhancing capacity, efficiency, and long-term growth potential. The Group maintains the new facility will boost productivity and expand capacity, particularly for larger cleanrooms—to support program transfers from Europe and scale up its business with key wafer fabrication equipment customers.

Back on 20 May, Frencken Group reported its 1QFY25 (ended March 31) revenue rose 11.5 per cent from 1QFY24 to S$215.8 million, driven by stronger contributions from its Mechatronics Division, while net profit grew 12.0 per cent to S$10.0 million on improved operating leverage and a higher gross margin of 14.8 per cent. 

Inside Insights is a weekly column on The Business Times, read the original version.

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