iFAST

[Curiousparty]

as per page 29 , for ref pls..

In 3Q2025, positive investor sentiment in the global markets rally led to some depositors transferring their funds via the iFAST Bridge to their wealth management accounts within iFAST Group. This aligns with higher investment activities at the Group’s wealth management business, showcasing the seamless transfer between banking and wealth management accounts.

The interesting thing is that the net inflow increased during period of crisis - look at the covid period!

   

   

[Curiousparty]

https://www.theedgesingapore.com/capital...st-tp-1195

Maybank Securities analyst Toh Xuan Hao has initiated a “buy” call on iFAST Corporation (iFAST) with a target price of $11.95. 

Toh’s target price, which is based on FY2026 P/E of 29.5 times, benchmarked against peer average P/E of 39.17 times, 6.6% WACC and 4% terminal growth, represent an 23% upside from iFAST’s last-closed share price of $9.72 as at Oct 30.

[EnSabahNur]

The interesting thing is that the net inflow increased during period of crisis - look at the covid period!

Are you pointing out that the business is resilient during periods of crisis?

[EnSabahNur]

https://links.sgx.com/FileOpen/iFAST_Pre...eID=871245

SINGAPORE (5 January 2026) — iFAST Corporation Ltd. (“iFAST Corp”, “iFAST”, “Company”, and together with its subsidiaries, the “Group”) wishes to announce that it has entered into a conditional agreement for the acquisition of a 30% stake in Financial Alliance Corporation Limited (the “Proposed Acquisition”). Financial Alliance Corporation Limited (“FACORP”) is the holding company of Financial Alliance Pte Ltd (“FAPL”), a licensed Financial Adviser and Capital Markets Services Licensee. FAPL is a leading Singapore-based financial advisory firm with over 450 financial advisory representatives. 

FAPL has been a longstanding business partner of iFAST and has demonstrated consistent profitability over the years. FACORP is also the majority shareholder of FA Advisory Sdn Bhd, a licensed Financial Planning and Advisory Firm in Malaysia. The consideration for the Proposed Acquisition is S$19,575,000, which, based on the Company’s estimates, represents a Price-to-Earnings ratio (“P/E ratio”) of approximately 16x for FY2025 and 12x for FY2026. 

The consideration is to be satisfied in cash and was arrived at following armslength negotiations. The Company expects to fund the Proposed Acquisition with a mix of internal resources and external borrowings. 

The Group believes the financial advisory industry in Singapore has substantial growth potential, where players with scale, operational efficiency and access to products and modern technology will achieve dominance. The Group views FACORP as a leading non-insurance company-owned player that is well-placed to capitalise on this growth. 

In addition, the Group sees FACORP emerging as one of the long-term winners of industry consolidation, with the potential to list in the next two to three years. With its established expertise in the financial advisory business and a highly complementary global digital banking and wealth management ecosystem, the Group believes it is well positioned to play a meaningful role in driving the next phase of industry growth. 

The Proposed Acquisition is expected to create a strategic bridge between the Group’s wealth platform and the Business-tobusiness (“B2B”) financial advisory business, enabling deeper collaboration, enhanced adviser support, and a scalable foundation for future expansion. “We believe the necessary foundations are in place for FACORP to emerge as a leading noninsurance company-owned player in Singapore, with the scale and capabilities to serve as a reference operating model. We look forward to supporting FACORP in its journey to become the first listed financial advisory company on the Singapore Exchange,” said Mr Lim Chung Chun, Group CEO and Chairman of iFAST Corp. “This partnership represents a significant milestone in our journey. It sets the foundation for what comes next for FACORP and builds toward a potential public listing. Singapore’s financial advisory industry is entering an exciting phase of growth. Firms that invest in governance and organisational depth today will be the ones serving clients at the highest levels decades from now. With iFAST’s incoming stake, we are positioning FACORP to be a leader in that future landscape – building a sustainable organisation that creates value for all our stakeholders while staying true to the advisory principles that have always guided us,” said Mr Vincent Ee, Chief Executive Officer and Co-Founder of FACORP. The relative figures for the Proposed Acquisition, computed on the bases set out in Rule 1006 of the Listing Manual of the Singapore Exchange Securities Trading Limited (“SGX-ST”), are either not applicable or less than 5%. 

The Proposed Acquisition is therefore a non-discloseable transaction. As required by Rule 1010(5), the net asset value of the assets being acquired was approximately S$13.00 million based on the latest available audited financial statements, with a 30% share amounting to S$3.90 million, although the target is a high Return-on-Equity (“ROE”) people-driven business which predominantly generates fee-based income. The transaction is not expected to have any material impact on the Group’s earnings per share (“EPS”) or net assets per share for the financial year ending 31 December 2026 but is expected to be earnings and EPS accretive (based on the normal operational performance of the business).
[url=https://links.sgx.com/FileOpen/iFAST_Press%20Release.ashx?App=Announcement&FileID=871245][/url]

[Curiousparty]

iFAST and the Power of Accumulating AUA

We can think of iFAST as a long-term wealth accumulation machine. Its core engine is very simple: Assets Under Administration (AUA). And AUA grows through only two forces.

The first is the market effect. Over the long run, financial markets tend to rise as economies expand, earnings grow, and inflation lifts nominal asset values. There will be cycles, crashes, and volatility, but the long-term direction has historically been upwards. When markets rise, the value of assets sitting on the iFAST platform rises automatically, even if no new money comes in.

The second force is net inflow. This is fresh money entering the iFAST ecosystem — from individuals, advisers, CPF, SRS, and institutional channels. As long as people continue to save, invest, and plan for retirement, money keeps flowing onto platforms that are trusted, regulated, and easy to use. Each new dollar that enters tends to stay invested for years, sometimes decades.

Put these two together and AUA behaves like a snowball rolling downhill. The market effect makes the existing snowball bigger over time, while net inflows keep adding new layers. Importantly, iFAST does not need to predict which fund, stock, or market will outperform. It simply needs people to keep investing — something they already do as part of normal financial life.

As AUA grows, platform revenue grows. As revenue becomes larger and more recurring, earnings visibility improves. And when a business shows scalable, predictable growth tied to long-term investing behaviour, valuation tends to follow. In other words, growing AUA feeds into growing profits, which feeds into higher business value.

A useful analogy is a reservoir. Rainfall represents market returns, while rivers represent net inflows. As long as it rains over time and rivers keep flowing in, the water level rises. iFAST owns the reservoir — it benefits from both forces without needing to control either.

Seen this way, owning iFAST is not about timing markets. It is about owning a platform that compounds alongside the collective habit of investing. If markets rise over the long term, and if money continues to enter the iFAST ecosystem, the valuation logic takes care of itself.

[Curiousparty]

We can think of iFAST as a long-term wealth accumulation machine. Its core engine is very simple: Assets Under Administration (AUA). And AUA grows through only two forces.

The first is the market effect. Over the long run, financial markets tend to rise as economies expand, earnings grow, and inflation lifts nominal asset values. There will be cycles, crashes, and volatility, but the long-term direction has historically been upwards. When markets rise, the value of assets sitting on the iFAST platform rises automatically, even if no new money comes in.

The second force is net inflow. This is fresh money entering the iFAST ecosystem — from individuals, advisers, CPF, SRS, and institutional channels. As long as people continue to save, invest, and plan for retirement, money keeps flowing onto platforms that are trusted, regulated, and easy to use. Each new dollar that enters tends to stay invested for years, sometimes decades.

Put these two together and AUA behaves like a snowball rolling downhill. The market effect makes the existing snowball bigger over time, while net inflows keep adding new layers. Importantly, iFAST does not need to predict which fund, stock, or market will outperform. It simply needs people to keep investing — something they already do as part of normal financial life.

As AUA grows, platform revenue grows. As revenue becomes larger and more recurring, earnings visibility improves. And when a business shows scalable, predictable growth tied to long-term investing behaviour, valuation tends to follow. In other words, growing AUA feeds into growing profits, which feeds into higher business value.

A useful analogy is a reservoir. Rainfall represents market returns, while rivers represent net inflows. As long as it rains over time and rivers keep flowing in, the water level rises. iFAST owns the reservoir — it benefits from both forces without needing to control either.

Seen this way, owning iFAST is not about timing markets. It is about owning a platform that compounds alongside the collective habit of investing. If markets rise over the long term, and if money continues to enter the iFAST ecosystem, the valuation logic takes care of itself..

[EnSabahNur]

https://sg.finance.yahoo.com/news/ifast-...00437.html

iFAST Partners BlackRock and JPMorgan to Drive Discretionary Portfolio Adoption Among Wealth Advisers

[b][b]Empowering Advisers, Enhancing Client Experience[/b][/b]
The addition of DPMS portfolios designed in collaboration with BlackRock and JPMorgan gives wealth advisers greater choice and flexibility to align client portfolios with specific goals and risk profiles, while clients enjoy a seamless and professionally managed investing experience. One key pain point the DPMS portfolios removes is the heavy administrative workload that often consumes valuable time for both wealth advisers and their clients. With DPMS portfolios in place, conversations shift away from paperwork and focus on what truly matters: thoughtful portfolio construction and holistic financial planning.
Beyond portfolio management, both partners provide investment insights and adviser training, enhancing iFAST's adviser enablement ecosystem with exclusive content, courses, and events.

(vested)

[EnSabahNur]

This is probably a good move to expand into another platform and gain access to retail monies. 

One wonders if similar moves are being planned in Singapore and Hong Kong. I assume the markets here are much, much bigger.

https://www.businesstoday.com.my/2026/01...-a-breeze/

Dennis Tan, CEO of iFAST Malaysia, said, “With Money+, this partnership enables everyday cash to be used more productively by turning idle e-wallet balances into professionally managed investment solutions for every Malaysian.”

The CEO added, “By combining iFAST’s fintech infrastructure with ShopeePay’s high-engagement lifestyle platforms, we are connecting e-commerce and payments infrastructure with capital markets in a seamless and practical way.”

Yap Siok Hoon, CEO of Eastspring Investments Bhd, added, “By enabling seamless access to our Eastspring Investments Islamic E‑Duit Fund from as little as RM10, Money+ helps turn everyday balances into a disciplined investment habit—while keeping funds liquid and usable whenever they’re needed.”

[Curiousparty]

https://www.theedgesingapore.com/capital...-financial

iFAST: Aletheia reiterates BUY after Financial Alliance partnership

Sharing a quick takeaway for discussion 👇

Aletheia Capital has reiterated its BUY call on iFAST, following the newly announced Financial Alliance partnership.

This is not a short-term earnings catalyst, but more like adding a new long-term distribution highway.

What’s the strategic logic
• Access to a larger adviser network
• Faster client onboarding
• More recurring, adviser-led flows (stickier AUA)
• Scalable growth channel vs pure retail acquisition

Aletheia estimates this could accelerate AUA growth by ~5% p.a. from FY2026–2028, with operating leverage lifting revenue and EBITDA over time.

Deal economics look reasonable
Consideration of ~$19.6m works out to about 16x FY2025 P/E, which Aletheia views as fair for a long-term platform expansion move.

Where further upside may come from
• deeper platform integration
• higher adviser productivity
• greater wallet share via cross-sell
• flexibility to deepen partnership if KPIs are met

Valuation still discounted
iFAST trades at around 17x forward EV/EBITDA, versus ~23x for global digital wealth platform peers — a gap Aletheia sees as unjustified given earnings visibility and balance-sheet strength.

TP raised to $13.50
Implying ~50% upside, supported by:
• recurring revenue base
• improving institutional penetration
• net cash > $1.2bn
• 10% share buyback mandate

Big picture
We see this as another example of iFAST quietly strengthening its distribution moat. Not exciting in the near term — but exactly how platforms compound over time.

[weijian]

A lot of unique questions asked in the AGM and very informative for an OPMI like me who is trying to better understand IFAST. Mgt has clarified that HK eMPF is not classified as AUA (not exactly a surprise) but ORSO will be. Since I never worked in HK before, I checked out the differences in this 2 pension schemes - MPF is the giant while ORSO is a niche product. MPF is also expected to grow much faster due it been the default and mandatory nature.

An interesting question was also asked about the split in revenue between wealth mgt and eMPF in HK. Since AUA for HK is much smaller than that for Spore but net revenue for HK is larger than Spore's, eMPF should be a substantial % of HK's net revenue. Since Mgt did not give a direct answer but hinted how to do it by revealing a number to aid us, I decided to calculate it.

- Wealth Mgt net revenue: 190mil
- HK's % of AUA = 11.4%
- Assume all geographies have similar margins, HK Wealth Mgt net revenue = 0.114*190~ 22mil
- Based on HK's net revenue of 172mil, Wealth Mgt % = 22/172 ~ 13% and so eMPF ~ 87%.

Q & A SESSION AT THE ANNUAL GENERAL MEETING OF IFAST CORPORATION LTD

Question 26: For Hong Kong’s net revenue, could the Company share what is the split between wealth management and eMPF ? Is it 50/50 split?

We are unable to provide that number directly, but we can explain how you might arrive at it. One of the new disclosures in our presentation is the total wealth management net revenue, which we have indicated around S$190million. You can also refer to the Group’s full-year net revenue figure. From there, you can estimate the contribution from the eMPF business and review the Hong Kong segment revenue. By deducting those components from the total, you should be able to derive a reasonable estimate.

https://links.sgx.com/FileOpen/Appendix_...eID=889873