iFAST Corporation *Official* (SGX: AIY)

[Andrew833]

Keeping until next target... or any deceleration of earnings/revenue growth.

Currently no target.

 

[Celibrium]

Whoa. This counter is up a whole dollar; 15% in the last 5 days alone. Crazy man

 

[chaoprokia]

I already dump all my cpf in. Nothing to top up. Just watch show only.

 

[Perisher]

Currently no target.

Not easy to find big growth stocks in SGX.

On other news, day high $7.09

 

[Steyr69]

The volume is still high, I believe will break. After hitting $7.06 area, I need to think whether to sell or keep haha.

No lah....you will keep and amend your sell target to $8.
I believed will still goes up. Hold until next month.
(Purely my own opinion. You be your own judge)

 

[Andrew833]

No lah....you will keep and amend your sell target to $8.
I believed will still goes up. Hold until next month.
(Purely my own opinion. You be your own judge)

Yea, that's why monitoring. If more sellers then maybe I will take profit. If not will hold till any sign of weakness. 23% profit, hand itchy

 

[Perisher]

Yea, that's why monitoring. If more sellers then maybe I will take profit. If not will hold till any sign of weakness. 23% profit, hand itchy

can i declare my profit %? humble but bragging... can?

 

[Andrew833]

can i declare my profit %? humble but bragging... can?

It's ok. I took profit once so this round lesser.

 

[Perisher]

It's ok. I took profit once so this round lesser.

not trying to be sarcastic. In case it's read wrongly.

 

[Andrew833]

not trying to be sarcastic. In case it's read wrongly.

No problem, @chaoprokia should have the most highest % bah

 

[chaoprokia]

No problem, @chaoprokia should have the most highest % bah

i remember someone post brought at $1++

 

[Perisher]

Vested long ago. $1.70... around there.

Thanks.

look, i found the $1+ guy. oh wait...

I found some who were here even before all this meteoric rise.

iFAST Corporation (SGX: AIY) released its 2018 first-quarter earnings

Headquartered in Singapore, iFAST is an Internet-based investment products distribution platform that provides a comprehensive range of investment products and services to both corporate clients and retail investors. I had the opportunity to attend iFAST’s earnings briefing on Monday to hear directly from CEO Lim Chung Chun.

Here are the key things that I learnt about 2018’s first quarter:

1. Revenue grew 40.1% year-on-year to S$31 million. After deducting commissions and fees, net revenue was up 28.7% year-on-year to S$14.4 million. Recurring net revenue was at S$11.5 million, up 22.3% from a year ago.

2. Profit attributable to shareholders surged 52.6% to S$2.75 million. Diluted earnings per share (EPS) jumped 50% to 0.93 cents (note: the previous year’s diluted EPS was restated to include the adoption of new accounting rules).

3. As of 31 March 2018, the company had S$20.6 million in cash (includes investments in money market funds) and just S$17,000 in finance leases.

4. Assets under management (AUM) grew 24.8% year-on-year to hit a record high of S$8.07 billion, marking the seventh straight quarter of record AUM levels for the company. The contribution from the bonds/ exchange-traded funds (ETFs)/stocks business was a combined 8.1% of iFAST’s total AUM.

5. A interim dividend of 0.75 cents per share was proposed, up 10.3% from the interim dividend of 0.68 cents seen in the first-quarter of 2017.

6. In his opening remarks, Lim said the positive results from the latest quarter were from the company’s efforts to expand its product range over the past few years, and a better stock market environment overall.

7. PBT margin was 29.5% for the first-quarter of 2018 . Lim commented that the margins are not “conducive” yet but could expand in the future. A large part of investments in existing markets (think Singapore) has already taken place, he said, so as the company scales up, there is room for margin expansion in the years ahead.

8. As mentioned earlier, iFAST’s ended the reporting quarter with S$20.6 million in cash. On top of that, the company has another S$24.7 million in other investments which consist of fixed income funds, corporate bonds, and to a lesser extent, equity holdings. More importantly, Lim commented that the current cash position is at a surplus relative to the company’s needs.

9. Over in Singapore, one of the biggest developments over the last 12 months was the launch of its stockbroking service in June 2017. Lim said that the service is starting to show “decent growth,” and is still in the early stages of growth.

10. Lim believes that iFAST’s stockbroking services are competitive as it is able to offer one of the lowest prices in the industry, but yet remain profitable. He believes that few players, save for Phillip Capital, are able to achieve that. He also said that iFAST only needs “a couple of percentage points of market share” to be comfortably profitable. In the future, iFAST is likely to offer margin financing as well.

11. Meanwhile, iFAST also launched a Fintech Solutions division in Malaysia. Lim said that the B2B business has been traditionally based offline, and there was a need to provide solutions to help bring offline processes online. iFAST earns a service fee but more importantly, the customer’s operations are linked up with iFAST’s platforms, which makes the company’s services stickier to its B2B customers.

12. For Lim, it’s important to take a long term view for results in China to turn up. iFAST typically takes between five to six years to be profitable in a country.

13. Lim also touched on the company’s activities in India, where iFAST owns an effective stake of 19.2% in iFAST Financial India. The associate is not profitable yet, but has made significant progress. The regulatory environment is also improving, which should help adoption of the associate’s services. He added that the entity is expected to remain as an associate at the moment, though the company has hopes that it can be a stand alone listed-entity in the future.

Attending the earnings briefing allowed us to better understand the thoughts company’s performances, and to put the company’s actions into perspective. Shares of iFAST closed Monday at S$0.915 each. At that price, the company has a dividend yield of 3.3%.

 

[Andrew833]

look, i found the $1+ guy. oh wait...

I found some who were here even before all this meteoric rise.

Well done bro.

 

[Andrew833]

$7.33

 

[Perisher]

wow... strongly breaking out of $7. unexpected.

 

[Perisher]

after Raffles med, mm2, best world, iFast... wealth really can accumulate fast with the right companies...
But look, the first 3 coy is already gg.

 

[Perisher]

https://www.businesstimes.com.sg/st...tinue-run-as-singapores-best-performing-stock

Hot stock: iFast rises 6.2% to continue run as 'Singapore's best-performing stock'​

SHARES of iFast Corp rose as much as 6.2 per cent on Thursday. This comes days after Bloomberg News reported that the counter was Singapore's best-performing stock over the past year, and that it would pursue more gains in China, which looks to be its fastest-growing market.

The investment products distribution platform's shares have soared 552 per cent in the last 12 months, a performance that beat all members of the FTSE ST All-Share Index, according to Bloomberg.

As at 10.26am on Thursday, the counter had surged S$0.43 or 6.2 per cent to S$7.42, with about 1.6 million shares changing hands. The share price later eased to S$7.33 around 11.24am before pausing at S$7.38, up S$0.39 or 5.6 per cent, by the midday trading break.

Singapore Press Holdings, which publishes The Business Times, owned 14.6 per cent of iFast as at March 5.

At present, iFast counts Singapore as its largest market. It wants to grow its assets by more than fivefold to reach S$100 billion of assets under administration by 2028, and it is banking on China and a retail-trading frenzy to reach its goal.

The firm's chief executive officer Lim Chung Chun said that although it is generating losses under its Chinese operations, they are "manageable amounts" considering the size of the market, which he believes holds immense potential.

iFast initiated private fund management in China this February, and has also expanded into Hong Kong and Malaysia in the past year.

Retail trading has seen a surge as investors stuck at home have been trying their hands at equities, Bloomberg reported, something which helped to double iFast's net income last year.

Mr Lim said that to achieve the company's asset goal, it will need to expand at a compounded annual rate of 27 per cent through 2028, compared with 34 per cent in the past two years.

 

[Perisher]

Looks like big volume blocking at $7.6
220k selling.

If anyone here intend to sell, go lower than $7.6 should do it.

 

[Perisher]

Sold some off at $7.5~... see how.
Still holding a bulk.

Thanks to that big blocker at $7.60, now everybody just hang around $7.50...

 

[Perisher]

Wow day high $7.74. The $7.6 seller disappeared, open $7.63?