SGX-Listed Info-Tech Systems Well-Placed to Ride Singapore's AI Push, Says RHB

RHB Bank Singapore has maintained its "buy" call and S$1.40 target price on SGX-listed Info-Tech Systems, citing a "structural shift" in government AI policy that is creating sustained demand for the company's enterprise software and upskilling solutions. Analyst Syahril Hanafiah sees Info-Tech as a direct beneficiary of Singapore's push to embed artificial intelligence across the SME sector — a market segment that has historically been slower to adopt digital tools but is now being pulled along by government incentives and workforce transformation programmes.

Info-Tech Systems, founded in 2007 by CEO Babu Dilip and Executive Chairman Peter Lee, went public on the Singapore Exchange in July 2025. The company provides asset-light enterprise software solutions aimed at SMEs across multiple geographies. Its core proposition — helping smaller businesses digitise operations and upskill their workforce — aligns closely with the government's Enterprise Compute Initiative and the broader SkillsFuture-driven push to close the AI adoption gap between large enterprises and the SME sector, where roughly 99 per cent of Singapore's businesses operate.

The analyst's call comes at a moment when Singapore's AI upskilling market is accelerating. Course enrolment data from training providers shows surging demand for AI literacy programmes, and government schemes under Budget 2026 — including the National AI Council and expanded EnterpriseSG grants — are funnelling resources toward SME digitalisation. Info-Tech's positioning in this space gives it exposure to both the software-implementation side and the human-capital side of AI adoption.

RHB's maintained target price reflects confidence that Info-Tech will capture more than its share of this expanding market. The "structural shift" the analyst references is not a one-time budget allocation but a multi-year policy direction: Singapore's refreshed National AI Strategy, the push for AI agents across the public sector, and the government's explicit target of making AI a core economic engine all point to sustained procurement by both public agencies and the SMEs that serve them.

Why it matters for Singapore: Analyst calls on SGX-listed tech companies are a useful temperature check for the local AI economy. When a bank like RHB identifies an SME software firm as a structural AI beneficiary, it signals that the government's AI push is translating into real commercial demand — not just headline grants. For investors and business owners, Info-Tech's trajectory offers a concrete data point on whether Singapore's AI strategy is trickling down to the companies that actually serve 99 per cent of local businesses.