SGX:AIY

Stock Analysis Report

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Executive Summary

iFAST Corporation Ltd. provides investment products and services in Singapore, Hong Kong, Malaysia, and China.


Snowflake Analysis

Excellent balance sheet with proven track record.

Share Price & News

How has iFAST's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AIY's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.8%

AIY

-3.9%

SG Capital Markets

6.5%

SG Market


1 Year Return

-1.8%

AIY

9.9%

SG Capital Markets

-15.5%

SG Market

Return vs Industry: AIY underperformed the SG Capital Markets industry which returned 10% over the past year.

Return vs Market: AIY exceeded the SG Market which returned -15.5% over the past year.


Shareholder returns

AIYIndustryMarket
7 Day3.8%-3.9%6.5%
30 Day5.9%-8.0%5.4%
90 Day8.0%-7.6%-9.4%
1 Year1.2%-1.8%13.6%9.9%-12.0%-15.5%
3 Year43.3%30.9%22.9%9.1%-10.8%-20.5%
5 Year-15.4%-27.0%21.4%-0.5%-5.8%-21.9%

Price Volatility Vs. Market

How volatile is iFAST's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is iFAST undervalued compared to its fair value and its price relative to the market?

25.13x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AIY (SGD1.08) is trading above our estimate of fair value (SGD0.56)

Significantly Below Fair Value: AIY is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AIY is poor value based on its PE Ratio (25.1x) compared to the Capital Markets industry average (16.6x).

PE vs Market: AIY is poor value based on its PE Ratio (25.1x) compared to the SG market (11.8x).


Price to Earnings Growth Ratio

PEG Ratio: AIY is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: AIY is overvalued based on its PB Ratio (3.1x) compared to the SG Capital Markets industry average (1.9x).


Next Steps

Future Growth

How is iFAST forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AIY's forecast earnings growth (9.2% per year) is above the savings rate (2.2%).

Earnings vs Market: AIY's earnings (9.2% per year) are forecast to grow faster than the SG market (7.3% per year).

High Growth Earnings: AIY's earnings are forecast to grow, but not significantly.

Revenue vs Market: AIY's revenue (5.5% per year) is forecast to grow faster than the SG market (3.8% per year).

High Growth Revenue: AIY's revenue (5.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AIY's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has iFAST performed over the past 5 years?

1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AIY has high quality earnings.

Growing Profit Margin: AIY's current net profit margins (8.4%) are higher than last year (8.3%).


Past Earnings Growth Analysis

Earnings Trend: AIY's earnings have grown by 1.5% per year over the past 5 years.

Accelerating Growth: AIY's earnings growth over the past year (18.3%) exceeds its 5-year average (1.5% per year).

Earnings vs Industry: AIY earnings growth over the past year (18.3%) underperformed the Capital Markets industry 20.4%.


Return on Equity

High ROE: AIY's Return on Equity (12.1%) is considered low.


Next Steps

Financial Health

How is iFAST's financial position?


Financial Position Analysis

Short Term Liabilities: AIY's short term assets (SGD151.1M) exceed its short term liabilities (SGD97.4M).

Long Term Liabilities: AIY's short term assets (SGD151.1M) exceed its long term liabilities (SGD12.3M).


Debt to Equity History and Analysis

Debt Level: AIY's debt to equity ratio (4.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if AIY's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: AIY's debt is well covered by operating cash flow (639.9%).

Interest Coverage: AIY earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is iFAST's current dividend yield, its reliability and sustainability?

2.92%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AIY's dividend (2.92%) is higher than the bottom 25% of dividend payers in the SG market (2.68%).

High Dividend: AIY's dividend (2.92%) is low compared to the top 25% of dividend payers in the SG market (6.06%).


Stability and Growth of Payments

Stable Dividend: AIY has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AIY has only been paying a dividend for 5 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (73.3%), AIY's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Chung Lim (51yo)

no data

Tenure

S$460,498

Compensation

Mr. Chung Chun Lim serves as the Chief Executive Officer of iFAST Corporation Ltd., and iFAST Corporation Private Limited, holding companies of iFAST Platform Services (HK) Limited. Mr. Lim is the Founder  ...


CEO Compensation Analysis

Compensation vs Market: Chung's total compensation ($USD329.96K) is below average for companies of similar size in the SG market ($USD952.95K).

Compensation vs Earnings: Chung's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Chung Lim
Executive Chairman & CEOno dataS$460.50k20.78% SGD60.8m
Bing Goh
Director of IT Applications & Executive Director2.42yrsS$489.93k0.32% SGD923.6k
Fung Yat Leung
Chief Financial Officerno datano datano data
Wong Shyan
Group Chief Operating Officerno datano data0.67% SGD2.0m
Wee Lim
Managing Director of B2B Business - Singapore4.33yrsno datano data
Yik Kuan Tan
Managing Director of iFAST Malaysia Sdn Bhdno datano datano data
Hok Yin Yip
Managing Director of Platform Services - iFAST Hong Kong6.17yrsS$382.75kno data
Hon Moh
Director of Fintech Media & Co-Founder of iFAST Singapore2.42yrsno datano data
Chan Yin
Company Secretaryno datano datano data
Pay Lee
Company Secretary4.5yrsno datano data

4.3yrs

Average Tenure

48.5yo

Average Age

Experienced Management: AIY's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Chung Lim
Executive Chairman & CEOno dataS$460.50k20.78% SGD60.8m
Bing Goh
Director of IT Applications & Executive Director2.42yrsS$489.93k0.32% SGD923.6k
Loh Ng
Independent Director6.42yrsS$112.30k0.12% SGD344.3k
Chih Yao
Lead Independent Directorno dataS$109.74k0.11% SGD312.3k
Chee Kok
Independent Director6.42yrsS$90.26k0.54% SGD1.6m
Wee Lim
Non-Independent Non-Executive Director16.17yrsS$45.42k7.5% SGD22.0m
Teng Toh
Independent Director2.17yrsS$67.46k0.074% SGD217.1k
Sung Sung Wu
Non-Independent Non-Executive Director2.17yrsS$50.00k0.022% SGD64.8k

4.4yrs

Average Tenure

51yo

Average Age

Experienced Board: AIY's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AIY insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

iFAST Corporation Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: iFAST Corporation Ltd.
  • Ticker: AIY
  • Exchange: SGX
  • Founded: 2000
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: S$292.783m
  • Shares outstanding: 271.10m
  • Website: https://www.ifastcorp.com

Number of Employees


Location

  • iFAST Corporation Ltd.
  • 10 Collyer Quay
  • No. 26-01 Ocean Financial Centre
  • Singapore
  • 49315
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AIYSGX (Singapore Exchange)YesOrdinary SharesSGSGDDec 2014

Biography

iFAST Corporation Ltd. provides investment products and services in Singapore, Hong Kong, Malaysia, and China. The company operates through Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Business-to-Consumer (B2B2C) divisions. The B2B division operates iFAST Central that includes a range of services, including investment administration and transactions services, research and trainings, IT services, and backroom functions to banks, financial advisory firms, and financial institutions. It also operates iFAST Global Prestige, an investment platform designed to meet the requirements of high net worth individuals, as well as the wealth advisers servicing them; and iFAST Pensions that delivers tax-effective employee benefit solutions to multinational companies and its employees comprising expatriates, as well as assists companies to administer pension schemes for its employees through an Internet platform. In addition, this division operates iFAST Global Markets that provides investors with transparent adviser-assisted wealth management plans. The B2C division offers a distribution and transactional platform for investors through its Fundsupermart.com Website that offers a range of investment products, transparent fees structure, tools to compare investments, customer services support, and research advice. The B2B2C division provides fintech solutions to institutional clients to develop and enhance its capabilities. The company also operates bondsupermart.com, a regional bond information portal that provides bond information and research for investors and wealth advisers. iFAST Corporation Ltd. was incorporated in 2000 and is headquartered in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 13:27
End of Day Share Price2020/06/04 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.