ISOTeam - Maybank Research 2025-05-22: Election Over, Expecting More Contract Wins

• With the election over, we believe some of the upgrade/BTO contracts announced during the budget should be released in the near term and ISOTeam will be a key beneficiary of these orders. We expect orders wins to be in the region of S$20-30m.

Expecting new contract wins.

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• ISOTeam’s order-book stands at S$188.7m as of 1HFY25. We expect ISOTeam to be a beneficiary of the upcoming HDB build-to-order (BTO) and upgrade projects. Drone-testing should also take place soon on a few of the HDB BTO sites.

New drone deployment could lift margins.

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• ISOTeam owns the patents and the paints, which have been customised by its shareholder Nippon Paint (4612 TK) to suit the density and concentration of drone spray painting. ISOTeam will begin testing its AI drone-painting solution on an HDB site in June/July’25 and it will be rolled out to more estates if successful.

Positive outlook – CEO buying shares.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-07-07 ISOTeam - Small & Mid-cap Laggard With A Bright Outlook.

Price targets by 2 other brokers at ISOTeam Target Prices.

Listing of research reports at ISOTeam Analyst Reports.

Relevant links:
ISOTeam Share Price History,
ISOTeam Announcements,
ISOTeam Dividend Payout Dates & Corporate Actions,
ISOTeam News