Singapore’s Equity Market Development Programme, or EQDP, was established by the Monetary Authority of Singapore (MAS) to breathe fresh life into our local stock market. By channelling capital through a panel of appointed long-only fund managers, the MAS is effectively providing the “fuel” to help mid-cap and small-cap companies gain much-needed momentum. While the Straits Times Index (SGX: ^STI) recently crossed the historic 5,000-point mark, much of that attention remains fixed on our three big banks and popular REITs, leaving plenty of value hidden in the broader market. Recent filings give a glimpse of where some of that capital is landing. In the past few weeks, four EQDP-appointed managers – Amova Asset Management, Fullerton Fund Management, Lion Global Investors and Eastspring Investments – have built or topped up positions in three names that sit well outside the daily headlines. Institutional buying does not amount to a buy signal, but it can be a useful prompt to look...