iFAST

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(24-07-2022, 11:47 AM)Curiousparty Wrote: https://www.theedgesingapore.com/capital...stitutions

Technically, the chart patterns of the local banks and iFAST Corp are pointing to further retreats. Among them, iFAST is the weakest, mainly technically, but also fundamentally. iFAST has formed multiple head-and-shoulder top formations, with the most recent breakdown occurring at around $6.23, indicating a downside of below $3. The breakdowns took place in January and March (highlighted in previous Right Timing columns), despite still-positive outlooks by some analysts and market observers.

Currently, iFAST’s share price is drifting lower, most probably on the way to its target of below $3. These declines are likely to be punctuated by temporary rebounds. At present, the rebounds are getting weaker. Eventually, the declines will get weaker and prices will be ready for stronger rebounds. That point is not at hand yet.

Hi Curiousparty,

Your post is purely technical charting in nature and this is not part of the VB norm.

Moderator
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Waiting for price to lower in view of earnings increase towards end of 2023, 2024 onwards.

The HK project, are there any possibility of cancellation/delay/wrong revenue projection?
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waiting at $1
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(25-07-2022, 02:40 PM)desmondxyz Wrote: waiting at $1

hi desmondxyz,

It would be welcomed that you provide some context and analysis. Such "1 liner posts" are not encouraged on VB.com

Posting guidelines: https://www.valuebuddies.com/thread-1844.html

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(25-07-2022, 10:23 AM)snowballwisdom Wrote: Waiting for price to lower in view of earnings increase towards end of 2023, 2024 onwards.

The HK project, are there any possibility of cancellation/delay/wrong revenue projection?

With HK, anything is possible, so factor that delays into the earnings projection and decide when you want to go in, or sit it out,

having said that, iFast started share-buy backs to stem the price drop... :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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Actually iFast is just a subcontractor in this HK project. 

PCCW is the platform owner.

It seems like they are just involve in the transferring of assets into this new platform. 
The platform is expected to be live in 2025.

The transferring will be done from 2023 to 2025, this is the period iFast will be involve in.
That is why iFast when they forecast revenue for this project, they only indicate 2023, 2024 and 2025. They did not state 2025 and beyond.


So iFast will not be involve once the platform goes live? That is PCCW portion?

As such, it is consider a one-time income for iFast from 2023 to 2025?


Can any senior investor help to advise if my understanding is correct?
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(27-07-2022, 03:59 PM)snowballwisdom Wrote: Actually iFast is just a subcontractor in this HK project. 

PCCW is the platform owner.

It seems like they are just involve in the transferring of assets into this new platform. 
The platform is expected to be live in 2025.

The transferring will be done from 2023 to 2025, this is the period iFast will be involve in.
That is why iFast when they forecast revenue for this project, they only indicate 2023, 2024 and 2025. They did not state 2025 and beyond.


So iFast will not be involve once the platform goes live? That is PCCW portion?

As such, it is consider a one-time income for iFast from 2023 to 2025?


Can any senior investor help to advise if my understanding is correct?

MPFA appoints PCCW for eMPF mandate | Asia Asset Management


Hong Kong’s PCCW Solutions, owned by tycoon Li Ka-Shing’s son Richard Li, has won the tender to develop a centralised digital platform for the Mandatory Provident Fund, marking a key milestone for the HK$1 trillion (US$128.2 billion) public retirement scheme.


Singapore’s iFAST Corporation is a subcontractor for the project.
The Mandatory Provident Fund Schemes Authority (MPFA), supervisor of the MPF industry, announced the winning bidder late last week. It opened the tender in December 2019 as part of plans to automate administration of Hong Kong’s largest retirement scheme for its 4.3 million members.
The contract is for a two-year implementation period and a seven-year operation/maintenance period. It may be extended for up to three years.
According to the MPFA, the digital platform can be built as early as end-2022 and become fully operational in 2025 if the development progresses as scheduled.
The appointment “marks a major step forward in the development of this pioneering project aiming to standardise, streamline and automate the MPF scheme administration processes, thereby creating room for fee reduction and a predominantly paperless experience in the MPF system”, the MPFA says in a statement on January 29.
The industry supervisor says it has formed a wholly-owned subsidiary, the eMPF Platform Company, to coordinate preparatory work and operate the platform.
PCCW Solutions, which primarily provides digital transformation, cloud computing and artificial intelligence services, has not yet commented publicly, and spokespersons for the company did not immediately respond to questions from Asia Asset Management (AAM).
The MPFA statement did not name iFAST, but in a statement on January 30, the financial technology firm says it will be the prime subcontractor in transferring members’ data from MPF trustees to the platform.
People familiar with the matter told AAM last year that the tender attracted four bids in total, from Hong Kong, Indian, Chinese and Canadian technology and financial services companies.
The MPFA says legislation governing the MPF will need to be amended in order to designate the eMPF for administration processes and delineate the roles and responsibilities of the government, the MPFA and MPF trustees. It expects the amendments to be introduced to the city’s Legislative Council in the second quarter of this year.
The eMPF is an important initiative for the industry to improve Hong Kong’s retirement system, according to David Ashton, chief executive officer of Principal Trust Company (Asia), an MPF manager.
“Principal welcomes and supports any programme that helps the public to enjoy a better retirement. We look forward to partnering with PCCW, the government and all industry stakeholders to ensure the initiative is a success,” Ashton tells AAM.
Launched in 2000, the MPF scheme had HK$1.021 trillion of total assets as of September 2020.
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I tend to find IFAST Mgt giving very clear "targets" for the future. As an OPMI, I am not sure if such good clarity is a net good/bad to our personal investing results. This is because clarity creates more efficiency and hence more asymmetry (on the downside) if something unexpected happens. On the other hand, there is asymmetry (on the upside) if the OPMI is able to assume some uncertainty premium.

iFAST Corp: Extending Foundation Amidst Stormy Weather in FY2022, Expects High Growth in Revenue and Profitability between 2023 and 2025

• The Group’s assets under administration (“AUA”) declined 8.3% YoY to S$17.42 billion as at 31 December 2022, though on a QoQ basis, the Group’s AUA rose 2.6%.
• Net inflows of client assets remained positive in 4Q2022 and FY2022, reaching S$263 million in 4Q2022 and S$2,125 million in FY2022 respectively. The Group sees net inflows of client assets as the most important indicator of its long-term growth potential.
• Going forward, the Group expects to enter a period of high growth in revenue and profitability between 2023 and 2025. This is expected as its ePension division in Hong Kong starts to contribute substantially, and as it strives to ensure that for its core platform business, growth in net revenues will be higher than growth in operating expenses. The Group also expects to see some initial tangible progress in its digital banking business.

FY22 PR: https://links.sgx.com/FileOpen/iFAST-Pre...eID=746632
FY22: https://links.sgx.com/FileOpen/iFAST_Res...eID=746630
FY22 ppt: https://links.sgx.com/FileOpen/iFAST-Res...eID=746631
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This is because clarity creates more efficiency and hence more asymmetry (on the downside) if something unexpected happens.

as a long term shareholder, I can't say I mind opportunities like this.
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iFast still the one to beat ?

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https://www.theedgesingapore.com/news/fi...s-end-2023
"...As part of the winding down process, MoneyOwl will transfer its investment and insurance businesses to iFast Financial...."

Endowus grows revenue 2.5x in 2022, but losses rise to $20m (update)
https://www.techinasia.com/endowus-doubl...s-rose-26m
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