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Grab-Singtel, iFast consortiums apply for Malaysia digital bank licences

Grab-Singtel, iFast consortiums apply for Malaysia digital bank licences
straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.

Singapore broker up 544% in a year eyes China

iFast Corp chairman Lim Chung Chun - ST SINGAPORE: iFast Corp., an online brokerage that’s been Singapore’s best-performing stock over the past year, is betting on China and a retail-trading frenzy to help it grow assets by more than fivefold by 2028. Although the firm’s Chinese operations are loss-making, Chief Executive Officer Lim Chung Chun said the nation is poised to become the wealth-management platform’s fastest-growing market and is key to the group’s goal of reaching S$100 billion ($75 billion) of assets under administration by 2028. Investors have bought into that vision, with iFast shares soaring more than 500% in the past 12 months beating all members of the FTSE ST All-Share Index.

Singapore Broker Up 536% In a Year Looks to China for More Gains

Singapore Broker Up 536% In a Year Looks to China for More Gains Ishika Mookerjee and Abhishek Vishnoi, Bloomberg News People pose for photographs at Marina Bay near buildings illuminated at dusk in the central business district (CBD) of Singapore, on Thursday, Jan. 28, 2021. HSBC Holdings Plc plans to accelerate its expansion across Asia in its imminent strategy refresh, Chairman Mark Tucker told the virtual Asian Financial Forum last week. Photographer: Lauryn Ishak/Bloomberg , Bloomberg (Bloomberg) iFast Corp., an online brokerage that’s been Singapore’s best-performing stock over the past year, is betting on China and a retail-trading frenzy to help it grow assets by more than fivefold by 2028.

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