Apple, Alphabet and Microsoft are the 3 largest companies in the world by market capitalisation as of the first quarter of 2018. What do these three companies have in common? They are all platform companies – companies that combine demand and supply and benefit from network effects. Platform companies typically see huge growth in revenue, … Continue reading iFAST: A fast-growing company
iFAST 3Q22 review
iFAST is becoming stronger and less vulnerable to bear markets. For the third quarter of 2022, net inflow was SGD600 million of net inflow lower year on year but still higher than per-pandemic levels. Diversification into cash management and bonds is paying off! Increased bond turnover on iFAST platforms stood out with bonds offering higher … Continue reading iFAST 3Q22 review
iFAST 3Q22 preview: What to watch
Ifast will be reporting 3Q22 results on 26 October 2022. The usual AUA, user growth and net inflow numbers will be messy because iFAST India segment will be removed from the numbers. Here’s what I’ll be focusing on : MPF revenue guidance MPF-related revenue and earnings will be the biggest share price driver during the … Continue reading iFAST 3Q22 preview: What to watch
iFAST: Bad 2Q22 results
iFAST reported a poor set of 2Q22 results because of an unexpected SGD2.69 million net loss due to an impairment for their India business. Here are the good and bad points about 2Q22: Good: Assets under administration (AUA) remained stable in a bear market. AUA fell 5% q/q but rose 0.8% y/y to SGD17.6 billion … Continue reading iFAST: Bad 2Q22 results
HRnet SIAS interview highlights
Adeline Sim, the Executive Director and Chief Corporate Officer of HRnet was recently interviewed by the Securities Investor Association of Singapore (SIAS). Three things stood out to me: Co-ownership driving growth and cost controlResilient but not recession proofConsistent organic and M&A growth Co-ownership First, HRnet’s co-ownership plans has helped to make the company resilient and … Continue reading HRnet SIAS interview highlights
Can iFAST survive a bear market?
iFAST’s current share price has been falling probably because of weak equity markets and concerns over higher costs related to their UK bank acquisition. The current share price (SGD5) offers limited downside in my view and iFAST is a stronger and better platform because of its UK bank acquisition. Here are the 3 reasons why … Continue reading Can iFAST survive a bear market?
Selling Coupa and CAO
I sold Coupa and China Aviation Oil this week to streamline my portfolio and to focus on the highest conviction stocks in my portfolio which includes iFAST and Datadog. Revenue growth at Coupa has been decelerating while losses have been mounting. I think Coupa is a great company with impressive network effects and high switching … Continue reading Selling Coupa and CAO
Why I sold my Tripadvisor shares
I sold TripAdvisor this week for several reasons: Revenue concentrationGoogleSale/IPO of Experiences business Revenue concentration TripAdvisor is still too dependent on Booking and Expedia. Booking and Expedia combined contributed 34%, 25% and 33% of TripAdvisor’s revenue in 2021, 2020 and 2019. New initiatives over the 2019-21 period such as TripAdvisor Plus and display advertisements appears … Continue reading Why I sold my Tripadvisor shares
iFAST 4Q21 results: Bigger and better
iFAST reported decent fourth quarter 2021 results with revenue and net profit growing year on year but revenue growth has been decelerating. Net revenue grew 16% year on year to SGD28.2 million while net profit grew 5% year on year to SGD7.2 million. The lower net margin was mainly because of lower government support grant, … Continue reading iFAST 4Q21 results: Bigger and better
Why I’m excited about iFAST buying BFC Bank
iFAST has bought a UK digital bank! From iFAST: On 6 January 2022, the Group signed an agreement with its partner, Eagles Peak Holding Limited (“EPHL”), to acquire BFC Bank Limited (“BFC Bank” or ”UK bank”) from BFC Group Holdings (“BFC Group”, based in Bahrain). The Group will have an 85% stake in BFC Bank. … Continue reading Why I’m excited about iFAST buying BFC Bank
Why MPF is only the start for iFAST
iFAST is already the largest position in my portfolio but I’m still looking to buy more shares this week after reviewing third quarter 2021 results. Guidance on the impact of the Hong Kong MPF contract was the main focus of 3Q 2021. iFAST’s ePension segment will be providing operation and administration services for MPF. These … Continue reading Why MPF is only the start for iFAST
Evergreen Investing 