On June 8, iFAST Corporation chairman and CEO Lim Chung Chun acquired 100,000 shares of the listed company for a consideration of S$110,000. At an average price of S$1.10 per share, the acquisition took his total interest from 22.36 per cent to 22.40 per cent.

 

Mr Lim is also the co-founder of iFAST Corporation and is responsible for setting the strategic direction of the group together with the board, overseeing the entire overall management.

 

From 1991 to 1998, Mr Lim was an investment analyst with two securities companies in Singapore and eventually rose to become the head of research at ING Barings Securities Pte Ltd.

 

He co-founded Fundsupermart.com in 2000.

 

Between June 8 and 9, iFAST Corporation non-executive director Lim Wee Kian disposed of 230,000 shares of the listed company for a consideration of S$258,500. At an average price of S$1.12 per share, this reduced his total interest in iFAST Corporation from 7.49 per cent to 7.41 per cent.

 

Back on April 23, iFAST Corporation reported a record quarterly net profit of S$3.64 million in its Q1 FY20 (ended March 31), an increase of 126.8 per cent compared to Q1 FY19.

 

The result was attributed to a 25.3 per cent yoy increase in net revenue, despite a major selloff in financial markets globally during the quarter.

 

iFAST Corporation shares have generated a 9.4 per cent total return in the 2020 year to June 11, with close to S$1 million of net institutional inflows.