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.
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