Broker Name: CGS International
Date of Report: February 13, 2026
Excerpt from CGS International report.
Report Summary
- iFAST Corporation Ltd posted a strong 4Q25 profit of S\$32.9m, exceeding expectations due to robust growth in Singapore’s wealth management business and deferred tax assets recognized in the UK.
- The company is targeting S\$100bn in Assets Under Administration (AUA) by FY30, with management guiding for double-digit growth, continued dividend increases, and a three-year EPS CAGR of about 20%.
- Key growth drivers include further digitalisation in Hong Kong’s pension business, successful execution of UK banking operations, and ongoing wealth inflows in core markets.
- Risks include stagnant AUA growth and declining HK profitability, but iFAST remains a high conviction pick with a target price raised to S\$13.30 (upside of over 40% from current price).
- iFAST’s ESG performance is improving, with a focus on governance and stakeholder engagement, positioning it for potential premium valuation by ESG-centric investors.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com
