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.