iFAST is huat big big chance fe woh....profit shootup 300% ..any miss the boat bros?

[k1976]

https://sg.yahoo.com/finance/news/ifast-corp-reports-3qfy2023-earnings-051628559.html

 

[k1976]

iFast Corp reports 3QFY2023 earnings of $8.5 mil, 308.4% higher y-o-y​

Felicia Tan
Wed, 25 October 2023 at 1:16 pm SGT

The surge was attributed to growth in iFast’s operations in Singapore and Hong Kong.
iFast Corporation has reported total earnings of $8.5 million for the 3QFY2023 ended Sept 30, 308.4% higher than earnings of $2.1 million for the same period the year before.

The surge in net profit was attributed to the growth in the group’s operations in Singapore and Hong Kong.

Total revenue rose by 23.8% y-o-y to $66.2 million due to higher revenue and interest revenue for the three-month period. In the 3QFY2023, iFast’s net inflows of client assets stood at around $751 million, up 34.4% q-o-q.
In the 3QFY2023, iFast’s revenue for non-banking operations grew by 37.9% y-o-y to $38.4 million while its profit before tax surged by 141.8% y-o-y to $13.3 million.
The group’s ePension division in Hong Kong, which made an initial one-month contribution during the quarter, also helped to contribute more to the business.

iFast’s banking operation, iFast Global Bank, saw “encouraging progress” during the quarter with net revenues up by 49.4% y-o-y to $3.3 million. This was driven largely by the new divisions of digital transaction banking and the digital personal banking.
Deposits and balances of customers grew 140.4% to $232.09 million as at Sept 30 from $96.6 million at the end of FY2022.
As at Sept 30, the group’s assets under administration (AUA) grew by 12.6% y-o-y and 1.7% q-o-q to $19.12 billion.​

 

[k1976]

As to what’s done at iFAST: “iFAST Corporation Ltd. provides investment products and services in Singapore, Hong Kong, Malaysia, China, and India. It operates through Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Business-to-Consumer (B2B2C) divisions. The company’s B2B division operates iFAST Central that includes a range of services, including investment products, fee collection, operational support,” and so on.

The specific and new information is: “Fintech platform iFast Corporation reported a 308.4 per cent rise in net profit to $8.5 million for the three months ended Sept 30, 2023, from $2.1 million a year ago. The increase in profitability was driven by contributions from the group’s non-banking operations, which comprise iFast’s core wealth management platform business and its ePension division.”

https://www.dhakatribune.com/financial-markets/329102/ifast-corp-sgx-aiy-up-8%-on-308%-rise-in-net

 

[k1976]

https://www.google.com/amp/s/simply...in-earnings-might-be-taking-its-toll-o-88/amp

Strangely. AMDK newspaper also bad mouth huat big big opportunities, why hah?

 

[k1976]

https://www.google.com/amp/s/www.bu...neyowls-investment-and-insurance-business?amp


Wow... like that very fast becum Mini OCBC?

 

[laksaboy]

Pointless when WW3 breaks out. Those who still count their money are fools.