Broker Name: CGS International Securities
Date of Report: February 13, 2026
Excerpt from CGS International Securities report.
Report Summary
- iFAST Corporation Ltd delivered a strong 4Q25 with net profit up 70% year-on-year, exceeding both CGS and consensus expectations.
- Strong performance was driven by robust growth in Singapore operations and recognition of deferred tax assets in the UK, with continued growth prospects in all main markets (Singapore, Hong Kong, and UK).
- Management targets S\$100bn in assets under administration (AUA) by FY30, and the broker forecasts a 3-year EPS CAGR of about 20% from FY25 to FY28.
- Hong Kong’s future growth hinges on execution of digital pension projects, while dividend payouts are expected to increase in line with earnings growth.
- The report reiterates an “Add” rating with a higher target price of S\$13.30, citing strong AUA growth, recurring revenues, and improved margins as key catalysts, though warns of risks from slower AUA growth and profitability issues in HK.
- iFAST’s ESG profile is improving, with a C+ LSEG ESG score and no known controversies, potentially appealing to ESG-focused investors.
Above is an excerpt from a report by CGS International Securities. Clients of CGS International Securities can be the first to access the full report from the CGS International Securities website : https://www.cgs-cimb.com/
