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 →

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? →

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 →

4 reasons why I’m holding iFAST

iFAST will be reporting third quarter 2021 results soon and results are likely to be so-so. iFAST non-recurring revenue is usually correlated with trading volume from major stock brokerages such as Interactive Brokers. iFAST releases results on a quarterly basis but Interactive Brokers (IBKR), which operates in all major iFAST markets releases monthly updates. Based … Continue reading 4 reasons why I’m holding iFAST →

iFAST 2Q21: Good but not great

iFAST second 2021 results were decent but not good enough for the company’s high valuation. Most of the company’s key metrics including net revenue and profit were up year on year but down quarter on quarter because of lower stockbroking commissions. This sequential decline in net profit broke the company’s winning streak where net profit … Continue reading iFAST 2Q21: Good but not great →

Why iFAST has a 50% chance to be a Malaysia digital bank

iFAST is bidding with Koperasi Tentera, THZ Alliance and Mr Lee Thiam Wah, founder and major shareholder of 99 Speed Mart for one of the five Malaysia digital bank licences. The iFAST-led consortium will be known as iFAST Bank with iFAST owning a 40% stake in the digital bank. From iFAST. “The Malaysian consortium partners … Continue reading Why iFAST has a 50% chance to be a Malaysia digital bank →