Yinda Infocomm, under new controlling shareholders, is expanding from servicing communications networks to taking substantial stakes in companies providing biometric and digital identity technology. It seems that the prospects of moving into this new area have sent Yinda’s share price to an all-time high.

Over the past year, Yinda is the best performing stock on the SGX, chalking up a gain of 3,130% to close at 35 cents on May 27. The runner up is The Place Holdings, up 957% over the same period. In January, Yinda announced it was investing $35 million for a 51% stake in an entity called International Biometrics, which in turn holds 99% of PT International Biometrics, described as a leading provider of identity management biometric software in Indonesia.

On May 14, Yinda said it will invest US$8 million ($10.6 million) to subscribe to new shares of Tech5, a Geneva-based digital ID technology provider. This will be on top of US$2.5 million in an earlier convertible loan already extended to Tech5. With a total investment of US$10.5 million, Yinda will eventually hold 18.07% of Tech5.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook