ISOTeam Limited: Initiation Report

Business Model of ISOTeam Limited (‘ISO’)

ISOTeam is founded in 1998 and listed on the SGX Catalist in July 2013 at an IPO price of $0.22 (equivalent to $0.11 today after a 1 for 1 bonus split in 2015). It is founded by David Ng (Chairman), Antony Koh (CEO) and Danny Foo (Director of Operations). The founders collectively own 42.1% stake in ISO through their investment vehicle, ADD Investment Holding Pte Ltd. Therefore, they still have their skin in the game.

ISOTeam is an established service provider of repairs, maintenance and estate upgrading works for public and private real estate with a proven track record in eco-conscious solutions. Its operations are housed under 4 main business divisions as shown in Diagram 1.

A. Repairs & Redecoration (R&R)

ISOTeam is recognised as one of Singapore’s top service providers in the …

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