Philip Yeo's EDIS Expresses Support for Mencast's Growth Strategy; Becomes Top 20 Shareholder

SINGAPORE, April 17, 2026 /PRNewswire/ -- Economic Development Innovations Singapore ("EDIS") today announced its support for Mencast Holdings Ltd. (5NF.SI) ("Mencast"), reaffirming its confidence in the company's long-term strategy and growth prospects. Through its position built up via open market purchases, EDIS has become one of the twenty largest shareholders of Mencast.

Supporting Technology-Led Transformation

EDIS views Mencast as a company undergoing a strategic transformation from traditional carbon-based marine and offshore activities toward a carbon-based to silicon-based future. As part of this strategy, Mencast is transitioning toward a more asset-light and technology-driven operating model, leveraging partnerships with A*STAR and the National Additive Manufacturing Innovation Cluster (NAMIC).

As global energy shocks continue to drive fuel costs higher, Mencast is advancing the adoption of next-generation marine technologies through the integration of artificial intelligence, advanced design tools and additive manufacturing. By transforming how marine propellers are designed and produced, the Group is expected to deliver tangible efficiency gains, and fuel cost savings, enabling customers to better navigate a structurally higher energy cost environment.

Mencast is a Singapore-based player emerging at the forefront of deploying advanced digital and additive technologies at scale in the propeller sector, positioning it to progressively move up the value chain and into adjacent opportunities with higher-specification applications. The result: faster design cycles, fully customised propulsion solutions and leaner production, all while reducing waste and environmental impact, advancing the Group's efforts in building a differentiated technology capability over time in the global transport sector.

Long Term Strategic Partnership

EDIS looks forward to supporting Mencast as a long-term shareholder and to working constructively with the company as it continues to strengthen its market position and deliver value for stakeholders.

Abel Ang, Director, EDIS said: "We are investing in Mencast at a clear inflection point. Beneath its legacy marine business sits a scalable engineering and technology platform that we believe can be repositioned into higher-value, digitally enabled manufacturing. This investment reflects EDIS' strategy of backing technically strong businesses and working with visionary management to drive transformation, unlock value and build globally competitive platforms."

About Economic Development Innovations Singapore Pte Ltd. (EDIS)

EDIS is an alternative investment management firm with a balanced private and public equity portfolio, investing in transformative companies rooted in cutting-edge technology and led by the former economic strategist of Singapore, Mr. Philip Yeo. Learn more at www.edis.sg.

About Mencast Holdings Ltd.

Mencast Holdings Ltd. (5NF.SI) is a Singapore-listed marine and engineering solutions provider, offering maintenance, repair and overhaul services, as well as propulsion and advanced engineering capabilities, with a growing focus on technology-driven solutions for the marine, offshore and energy sectors.

For media enquiries, please contact:

Samuel Chen
Corporate Finance VP
Email: samuel.chen@edis.sg