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Research Capabilities

Equity Research Coverage

Independent research coverage for objective insights and analysis with dissemination across multiple platforms

Ethan Aw
Equity Research Lead

Ethan leads Evolve Capital’s research coverage for listed equities and broader thematic insights. He has extensively covered equities across large and small cap corporates in Asia for Aequitas Research, Silk Road Research and Lim & Tan Securities.

DateReport TitleCategory / Company
9 February, 2026Catalist GEMs Poised to ShineThematic
17 December, 2025Limited near-term catalysts, though net cash position remains a positiveiWOW Technology
28 November, 2025Sector weakness highlights need for fresh growth catalystsOld Chang Kee
29 October, 2025Firing on multiple cylindersGKE Corporation
15 October, 2025Established player with consistent executionSoon Hock Enterprise
7 October, 2025A timely review of our local bourseThematic
24 September, 2025Asset-light and well positioned for growthOiltek International
16 September, 2025Scaling within a niche spaceDezign Format
3 September, 2025Near term performance likely to remain subdued before modest recoveryHyphens Pharma
29 August, 2025FY25 results underscore execution risks despite large order bookISOTeam
28 August, 2025Execution of growth initiatives underwayGoodwill Entertainment
15 August, 2025Turnaround remains a work in progressBeverly JCG
29 July, 2025Decent premium above the 10Y averageCosmoSteel
22 July, 2025Order book close to record highISOTeam
20 June, 2025Balancing between dilution and value creationBeverly JCG
17 June, 2025Defying the dip, resilience amidst F&B headwindsOld Chang Kee
9 June, 2025Sales declined but order book growth signals hopeiWOW Technology
14 May, 2025Maiden Profit Turnaround after 12 yearsBeverly JCG
3 April, 2025Hyphens PharmaHyphens Pharma
14 March, 2025Goodwill Entertainment (FY24 Earnings Update)Goodwill Entertainment
21 February, 2025Econ Healthcare (Special Report)Econ Healthcare
28 January, 2025Goodwill EntertainmentGoodwill Entertainment
12 December, 2024iWOW TechnologyiWOW Technology
30 October, 2024Unveiling Potential Gems Within Catalist
Thematic