FAST Corporation PROFIT GROWS 150.6%! Why Is Share Price Looking SO Bullish?
Details are from released statements for 3Q2020
IFAST reported 35.7% revenue growth and 150.6% profit growth y-o-y vs 3Q2019.
This is an impressive performance!
Margins were 35% and in my opinion, it was driven by new sales/net inflows.
In 2017 IFAST AUA was 92.5% unit trust but today in 2020 they are diversified to bonds via bondsupermart and stocks/ETF.
Singapore still remains the main contributor of performers but Malaysia is a possible high growth space. Moving forward, IFAST may be bidding for HK eMPF.
IFAST is also in contention for the digital wholesale bank in Singapore. They partner with Yillion Group and Hande Group which have experience in China digital banks. Announcement is expected in 4Q2020.