iFAST
AUA grew 44.5% YoY to another record high of S$14.45b as at 31 December 2020
“Our continuous focus on building a strong integrated digital wealth management platform to better serve global investors has enabled us to face the challenges brought about by COVID-19 from a position of strength and with greater agility,” said Mr Lim Chung Chun, Chairman and CEO of iFAST Corp.
Stay home and stay safe, everyone.
many people missed out on this counter. Some analysts said limited upside when iFast was trading at $1.00...haha....
best is to know the details of the wealth management industry, and the various pain points. then we will know how iFast and its whole ecosystem works.
This EAM (External Asset Management) model is going to shake up the whole wealth industry. It has gained traction in other developed countries (e.g. Switzerland, etc.)... Still nascent in this part of the world.
this is going to be the BIG GAME Changer !!!
Next 20 years will even be more exciting for iFast - CEO interview
A lot of positive developments and upside from here. Sky is the limit for wealth management industry
1. Stock connect in China market => linking all the major stock exchanges (e.g. HKSE, Shenzhen and shanghai)
2. Malaysia Stock brokering business
3. China private fund business
4. DB license in other countries (e.g. Malaysia)
5. Hong Kong eMPF Tender (very big impact if won)..
Celebrating 20 Years: CEO Interview
https://www.youtube.com/embed/mIGg0jnZ_Cg...
iFAST
The Mandatory Provident Fund Schemes Authority (“MPFA”) of Hong Kong announced on 29 January 2021 that it has awarded PCCW Solutions Limited (“PCCW Solutions”) with the contract for the design, build and operation of the eMPF Platform. 1 The eMPF Platform aims to standardise, streamline and automate the MPF scheme administration processes to create room for fee reduction and a predominantly paperless experience in the MPF System.
iFAST Corporation Ltd. (“iFAST” or "iFAST Corp" or together with its subsidiaries, the “Group”) would like to share that the Group had participated in the tender for the eMPF Platform project with PCCW Solutions as their Prime Subcontractor for a category that includes MPF scheme operation services, transformation services and user delivery services (Category C).
https://links.sgx.com/FileOpen/iFAST_eMP...eID=646804
Stay home and stay healthy, everyone.
iFast FY2020 Result
Rev $169m (vs 125m)
GP $85m (vs 65m)
NP $20m (vs 9m)
Div 1cts (vs 0.9)
Growth in profit was substantially higher than the growth in revenue, showing positive operating leverage and scalability of our business model.
The improvement in the Group’s business shows that the Group continues to be a beneficiary of increased digital adoption in the wealth management industry. The improvements have been seen for both the B2C and B2B businesses.
We believe that the robust growth seen by the Group this year has resulted from our past investments in building up a strong integrated digital wealth management platform. The Group will continue to work hard on various initiatives in all existing markets that the Group operates in to ensure that our medium to long term growth prospects will remain strong.
Barring unforeseen circumstances, the Group expects further growth in its business performance and also targets to improve its operating margin in 2021.
Happy CNY!
牛转乾坤!
Stay home and stay healthy, everyone.
LCC has bought back shares again after a long hiatus => Strong vote of confidence.
https://links.sgx.com/1.0.0/corporate-an...8aca54e26a
Key coming developments:-
1. Stock connect in China market => linking all the major stock exchanges (e.g. HKSE, Shenzhen and shanghai) -
PENDING
2. Malaysia Stock brokering business license =>
Secured and Work in Progress
3. China private fund business license =>
Secured and Work in Progress
4. DB license in other countries (e.g. Malaysia)=>
PENDING
5. Hong Kong eMPF Tender (very big impact if won) =>
Secured and Work in Progress
(24-02-2021, 11:11 PM)Shiyi Wrote: [ -> ] (24-02-2021, 08:22 PM)Curiousparty Wrote: [ -> ]LCC has bought back shares again after a long hiatus => Strong vote of confidence.
https://links.sgx.com/1.0.0/corporate-an...8aca54e26a
Key coming developments:-
1. Stock connect in China market => linking all the major stock exchanges (e.g. HKSE, Shenzhen and shanghai) - PENDING
2. Malaysia Stock brokering business license => Secured and Work in Progress
3. China private fund business license => Secured and Work in Progress
4. DB license in other countries (e.g. Malaysia)=> PENDING
5. Hong Kong eMPF Tender (very big impact if won) => Secured and Work in Progress
It's just a transfer of shares from his nominee account to CDP.