iFAST Q219 results: Record AUA, Singapore digital bank license bid but lower net profit

iFAST, which is one of my major positions reported a mixed set of results for the second quarter of 2019 but there was some good news too. Assets under administration (AUA) grew 8.5% year on year to a record SGD9.0 billion despite weak unit trust subscriptions. The company's bond business is growing rapidly with bonds … Continue reading iFAST Q219 results: Record AUA, Singapore digital bank license bid but lower net profit →

Singapore O&G’s 2018 AGM

SOG is one of the largest positions within my portfolio so I attended the Singapore O&G (SOG) annual shareholder meeting yesterday. Here are the key highlights: SOG market share for baby deliveries increased from 8.0% to 8.9% in 2018. While Dr Heng delivered the most babies within the group, it was the younger O&G doctors … Continue reading Singapore O&G’s 2018 AGM →

SOG: Winning market share for 5th consecutive year

SOG’s cancer and O&G doctors gained recognition and won market share in 2018. SOG is one of my favourite medical stocks on the SGX. Their share of the private birth market grew for the fifth consecutive year. Based on their 2018 annual report, SOG specialists delivered 1,824 babies in 2018 which works out to a … Continue reading SOG: Winning market share for 5th consecutive year →

iFAST update: Moat growing wider

iFAST has published their 2018 annual report with the company reporting the highest growth in client accounts since it was listed. These statistics were previously released in their February 2019 results presentation but they jumped out at me when I was reading their annual report. As of end 2018, the number of client accounts grew … Continue reading iFAST update: Moat growing wider →

SOG 4Q18 results: Look beyond the surface

Singapore O&G (SOG), one of my highest conviction holdings reported bad headline results on Friday night. But after digging in, the good news seem to outweigh the bad. 4Q18 revenue grew 10% year on year, recurring net profit was up 39% year on year, operating cash flow was up and the final dividend grew 1%. … Continue reading SOG 4Q18 results: Look beyond the surface →

SOG continues organic growth in Q3 2018

Singapore O&G (SOG) reported a strong set of Q3 results with the company reporting year on year and quarter on quarter revenue growth. Q3 revenue was up 18% year on year while net profit grew 23% year on year to SGD2.8 million. The improved results is especially impressive since it was driven by organic growth … Continue reading SOG continues organic growth in Q3 2018 →

iFAST sets SGD100 billion AUA target

iFAST announced a great set of Q2 2018 results with double digit growth in revenue, earnings and AUA (Assets under Administration) along with its ambitious 10 year vision. Net revenue grew 25% year on year to SGD30.9 million which led to net profit growing 40% to SGD2.9 million in the second quarter of 2018. AUA … Continue reading iFAST sets SGD100 billion AUA target →

iFAST cuts SG and HK stockbroking fees

Quick update on iFAST which in my view is poised to see double digit growth over the next five years. iFAST recently said it intends to lower its Singapore and Hong Kong stockbroking commissions from 0.12% to 0.08%, the lowest in Singapore. Cutting stockbroking commissions is a great move for 3 reasons. First, more than … Continue reading iFAST cuts SG and HK stockbroking fees →

iFAST: A fast-growing company

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 →