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stansays Member	27-Jan-2022 14:58        stansays About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.businesstimes.com.sg/companies-markets/brokers-take-citi-cuts-ifast-tp-on-dilutive-ma-possible-q4-earnings-miss WEALTH management platform iFast Corporation is likely a risky investment due to its dilutive merger and acquisition plans, and uncertainty surrounding its near-term earnings, said Citi Research. The research team cut its target price for iFast to S$6.20 from S$7.50, to factor in the loss-making financials of the company' s recent acquisition, BFC Bank. Citi also maintained its " sell" call on the counter, despite iFast' s share price having closed below S$7 for the first time since May 2021, as it expects the market is likely over-optimistic on iFast' s Hong Kong pension project contract, and that rising real yields have played out.   Shares of iFast were trading at S$6.40 as at 11.23 am on Thursday (Jan 27), down S$0.44 or 6.4 per cent. Citi is cautious of execution risks in BFC Bank. The acquisition, together with the private placement to raise funds, will likely also hit earnings estimates for the company by 15 per cent in FY2022, 9 per cent in FY2023 and 6 per cent in FY2024. Meanwhile, to account for the higher number of shares from the placement, the research team cut its dividend per share estimates for FY2022 to FY2023 by 14 per cent. SEE ALSO UBS agrees to buy robo-adviser Wealthfront for US$1.4b   Stay updated with BT newsletters     By signing up, you agree to our Privacy Policy and Terms and Conditions. Your feedback is important to us Tell us what you think. Email us at [email protected]     Citi also highlighted the possibility of iFast missing the market' s " huge expectations" for its fourth quarter earnings, as the company may continue to incur project fees - similar to the Hong Kong project fees it recognised in the third quarter - albeit in lower magnitudes. Furthermore, iFast' s platform margins may continue to face pressure in 2022 amid competition, as robo-advisory fintech Syfe and payment fintech Revolut launch their own online brokerage services. Citi noted that mobile downloads for iFast' s FSMOne Mobile app had already decreased by 4 per cent on quarter in the fourth quarter. Earlier in January, iFast announced it would acquire a majority stake in BFC Bank to accelerate the growth of its overall wealth management business, and had issued 14 million shares at S$7.50 each to help fund the acquisition.
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tongphlp Supreme	27-Jan-2022 14:29        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	not so bad lah...end of iFast only...not the end of the world...but if your world revolves around iFast, then..... erhaier      ( Date: 27-Jan-2022 14:22) Posted: End of the world?
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john_ric Supreme	27-Jan-2022 14:23        john_ric About Contact  Quote this Post!
x 0   x 0  Alert Admin	2021 bought ifast, flied to sky fast   2022 buy ifast sink to hell fast.
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erhaier Senior	27-Jan-2022 14:22        erhaier About Contact  Quote this Post!
x 0   x 0  Alert Admin	End of the world?
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PhillipTan Supreme	27-Jan-2022 13:31        PhillipTan About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	up lorry liao
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tongphlp Supreme	27-Jan-2022 13:13        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	no need 6, 5 is also reachable!  rlong8288      ( Date: 27-Jan-2022 10:25) Posted: Waiting at below 6 dyodd  fatpanda      ( Date: 27-Jan-2022 10:20) Posted: Bro, Ya.... We just pointed out that this stock could not justify for it' s high share price. So, falling in share price is a " natural" way to go, to find thecorrect price that reflect the " real' value of this company. And, how low woud it goes? Let' s the market decides. We just stand aside and watch.  BTW, Panda does not own this stock, or trading this stock at the moment. So, my view that shared here would not have any conflict with my " interest" .
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tongphlp Supreme	27-Jan-2022 10:54        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	reaching...down 7%  Clown stock.. rlong8288      ( Date: 27-Jan-2022 10:25) Posted: Waiting at below 6 dyodd  fatpanda      ( Date: 27-Jan-2022 10:20) Posted: Bro, Ya.... We just pointed out that this stock could not justify for it' s high share price. So, falling in share price is a " natural" way to go, to find thecorrect price that reflect the " real' value of this company. And, how low woud it goes? Let' s the market decides. We just stand aside and watch.  BTW, Panda does not own this stock, or trading this stock at the moment. So, my view that shared here would not have any conflict with my " interest" .
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rlong8288 Master	27-Jan-2022 10:25        rlong8288 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Waiting at below 6 dyodd  fatpanda      ( Date: 27-Jan-2022 10:20) Posted: Bro, Ya.... We just pointed out that this stock could not justify for it' s high share price. So, falling in share price is a " natural" way to go, to find thecorrect price that reflect the " real' value of this company. And, how low woud it goes? Let' s the market decides. We just stand aside and watch.  BTW, Panda does not own this stock, or trading this stock at the moment. So, my view that shared here would not have any conflict with my " interest" .
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fatpanda Supreme	27-Jan-2022 10:20        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Bro, Ya.... We just pointed out that this stock could not justify for it' s high share price. So, falling in share price is a " natural" way to go, to find thecorrect price that reflect the " real' value of this company. And, how low woud it goes? Let' s the market decides. We just stand aside and watch.  BTW, Panda does not own this stock, or trading this stock at the moment. So, my view that shared here would not have any conflict with my " interest" .
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tongphlp Supreme	27-Jan-2022 10:18        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	Mr Lim Chung Chun Mr Lim  is the Chairman and CEO of iFAST Corp, a wealth management Fintech platform that combines Fintech solutions with the capabilities of a licenced financial institution to provide multi-product offerings. Mr Lim co-founded the Company with the launch of its B2C division Fundsupermart.com in Singapore in 2000, following which the B2B division iFAST Financial was launched in 2001. He subsequently led the Company&rsquo s regional expansion efforts, extending iFAST&rsquo s presence beyond Singapore to Hong Kong, Malaysia, China and India, building a well-established Fintech ecosystem across the five markets. Mr Lim also led the Company to its successful listing on the SGX-ST Mainboard in December 2014. Before setting up iFAST Corp, Mr Lim was the Head of Research at ING Barings Securities Pte. Ltd. Mr Lim graduated with a Bachelor of Engineering (Electrical) from the National University of Singapore in 1991, and obtained a Diploma in Investment from the Institute of Banking and Finance in 1993. anyone recall Nick Leeson who cause the downfall of Barings Bank? fatpanda      ( Date: 27-Jan-2022 10:11) Posted: WAPIANG! Dropped 40c liao..... Better keep my bad mouth shut.... Hehehe.......
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tongphlp Supreme	27-Jan-2022 10:14        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	who knows...maybe drop $4..okok...I shut my mouth... fatpanda      ( Date: 27-Jan-2022 10:11) Posted: WAPIANG! Dropped 40c liao..... Better keep my bad mouth shut.... Hehehe.......
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fatpanda Supreme	27-Jan-2022 10:11        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	WAPIANG! Dropped 40c liao..... Better keep my bad mouth shut.... Hehehe.......
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fatpanda Supreme	27-Jan-2022 10:02        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Oh..... Reporting ia around 17 Feb  2022, around 2 weeks from now. So, the management has to keep " quiet" and no " action" during this " grey" period if Panda understand the SGX listed rules correctly. So, the investors probably would not get any " update"   from the managment. And shortists would likely have advantage during this period if the confidence of the investor is shaken.
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tongphlp Supreme	27-Jan-2022 09:52        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	it proves that management not even confident..they are shaken.. fatpanda      ( Date: 27-Jan-2022 09:48) Posted: Now, it is the time need them to stand up to say something or action to stablize the price slide, and boost the confidence of the investors.  And where are they?
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uiop1223 Supreme	27-Jan-2022 09:50        uiop1223 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good to see companies with high PE crash. Teach those millennials good lesson. What crypto, grab blah blah.. show me the profits and cash
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fatpanda Supreme	27-Jan-2022 09:48        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Now, it is the time need them to stand up to say something or action to stablize the price slide, and boost the confidence of the investors.  And where are they?
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tongphlp Supreme	27-Jan-2022 09:48        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	7 RM is fair value you mean? Ovywind      ( Date: 27-Jan-2022 00:02) Posted: i agree its not a big deal  PE is problem but not counted  all works on sentiments  7 sgd is fair value   tongphlp      ( Date: 26-Jan-2022 13:01) Posted: on the contrary, I think it is fairly easy to get the M' sia licence.
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tongphlp Supreme	27-Jan-2022 09:46        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	could be scammed.. fatpanda      ( Date: 27-Jan-2022 09:43) Posted: Why the management do not " bull bull" (marketing, advertising....) iFAST now if they are so confidence that their dream can be fufill in near term? Why thet are so quiet now?
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tongphlp Supreme	27-Jan-2022 09:44        tongphlp About Contact  Quote this Post!
x 0   x 0  Alert Admin	pity those who were sucked in at 7.5 with their placement shares.. Hector      ( Date: 27-Jan-2022 09:37) Posted: Wow.. really big fish eat small fish media keep supporting ifast and now drop so much. think BB realize digital banking buz is not much profitable even with hugh AUM and carry also big risk, when hackers can easily invade into digital system Think conventional banking is still safer
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fatpanda Supreme	27-Jan-2022 09:43        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Why the management do not " bull bull" (marketing, advertising....) iFAST now if they are so confidence that their dream can be fufill in near term? Why thet are so quiet now?
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