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Happy to note that iFAST into the next round of qualification, stock price flying today! Vested.
CNA news just stated that Sinigapore shortlist 14 applicants for digital bank licenses for the next round of the selection process, hopefully IFAST is one of them.
iFAST Corporation
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.
Thank you for your advice!
Jumbohippo ( Date: 11-Jun-2020 01:31) Posted:
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No idea if it will be shortlisted, but if you look at the transactions ytd, big buyers are buying huge lots of it. I' m thinking of buying on dips. now chase risk level still okay imo. dyodd
This counter, I just left about 3 weeks ago when the price totally no movement at 1.03. After I left, saw it surge to 1.10+ level. What a heart pain now! So still can enter back now? Will it be shortlisted to be awarded with digital banking license soon?
Jumbohippo ( Date: 10-Jun-2020 18:57) Posted:
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Watch this counter, creazy amount of buy today! big boys are pumping into this company
Quite big percentage move today in a quiet market, anyone knows what happen to iFAST?
Very postive outlook and agree it is a platform business. I am less greedy and happy if 2 to 3 times current share price. Vested:)
As this is a platform business, once the critical mass is reached and the positive network effect (while it already has some at the moment) would be self-propagating.
We are potentially looking at a 10 bagger, taking into consideration that iFast has set a $100bil AUA target.
Current price share is way too cheap.
Wage support from government is expected to enhance iFast EPS (full year results) by an estimated 2 cents or 56% of last year EPS.
$30mil (wage cost per annum) x 12/13 (adjust for 13th month) x 3.25 months over 12 months (working below) x 75% (adjust for staff with salary higher than $4600) = 5.625 mil or 2 cents EPS
Working on " 3.25 months"
75% for April
75% for May
25% for the rest of the 7 remaining months
total = 325% or 3.25 months worth of wage being supported
(aka windfall from government)
$30mil (wage cost per annum) x 12/13 (adjust for 13th month) x 3.25 months over 12 months (working below) x 75% (adjust for staff with salary higher than $4600) = 5.625 mil or 2 cents EPS
Working on " 3.25 months"
75% for April
75% for May
25% for the rest of the 7 remaining months
total = 325% or 3.25 months worth of wage being supported
(aka windfall from government)
https://www.pwc.com/gx/en/services/famil...-asia.html
Read up more on " Family Office" and you will know that we are just seeing the dawn of big disruption for the wealth management industry in Asia!!
Banks here will not collapse but I see that there will be big disruption. (Family office is quite an established model in EU and USA, etc)
iFast is partnering with all these wealth management platforms (e.g. Raffles family office is just a case in point).
https://www.youtube.com/watch?v=Jt2YMqIflRs
https://www.valuebuddies.com/thread-5998-page-9.html
Read up more on " Family Office" and you will know that we are just seeing the dawn of big disruption for the wealth management industry in Asia!!
Banks here will not collapse but I see that there will be big disruption. (Family office is quite an established model in EU and USA, etc)
iFast is partnering with all these wealth management platforms (e.g. Raffles family office is just a case in point).
https://www.youtube.com/watch?v=Jt2YMqIflRs
https://www.valuebuddies.com/thread-5998-page-9.html
better than banks and SGX stocks.
Nice rebound today - this is fintech with dividend, growth stock and give regular dividend income. Think good long term investment.
the heavy losses from the digitial banking in the initial years may eat into core profits, depending on ifast share of the consortium..
Then this is really good news for ifast both way.
If they manage to get the license, it will boost the sharr price due to the new venture into digital banking sector. Whether it will make profit in the future is yet to be concluded, but this kind of news definitely cheer the investors.
If the dont, then it is actually a blessing in disguise since people mentioned that digital banking in elsewhere of world is suffering heavy loss. IFast can continue on its business without losing much on new digital banking. Great !.
Conclusion Good buy for iFast. haha.
If they manage to get the license, it will boost the sharr price due to the new venture into digital banking sector. Whether it will make profit in the future is yet to be concluded, but this kind of news definitely cheer the investors.
If the dont, then it is actually a blessing in disguise since people mentioned that digital banking in elsewhere of world is suffering heavy loss. IFast can continue on its business without losing much on new digital banking. Great !.
Conclusion Good buy for iFast. haha.
most of the digital banks in the world are mired in heavy loss. Hence, going into digital banking does not mean that it will be profit making!
Still early to talk abt digi banking as the application closes end dec. Also, there are 5 licenses.
IFast has the adv of in the financial sector. In a way, it is already in the digital banking as its business dealing with fund investment, stock trading , bonds etc.
IFast has the adv of in the financial sector. In a way, it is already in the digital banking as its business dealing with fund investment, stock trading , bonds etc.
Today slight drop, but volume very low, still on the run and boom town if get the license.
Razer got better chance than I-Fast.