[iFAST] iFAST Corp: Strong start to 2021 with record AUA, net inflows and net profit in 1Q2021

FOR IMMEDIATE RELEASE

iFAST Corp: Strong start to 2021 with record AUA, net inflows and net profit in 1Q2021

• Net profit grew 142.5% YoY to a record of S$8.82 million.
• Net revenue and gross revenue increased 51.4% YoY and 43.8% YoY respectively.
• Net inflows of client assets registered a record S$1.28 billion in 1Q2021, pushing the Group's AUA to a record S$16.11 billion as at 31 March 2021.
• Gross Unit Trusts (UT) subscription grew 66.8% to a record S$2.21 billion in 1Q2021.
• For the first interim dividend for 1Q2021, the Directors declared a dividend of 1.00 cents per ordinary share (first interim dividend for 1Q2020: 0.75 cents per ordinary share).

SINGAPORE (22 April 2021) - iFAST Corporation Ltd. ("iFAST Corp" and together with its subsidiaries, the "Group") reported its financial results for the first quarter of 2021 (1Q2021).

The year 2021 started on a strong note for the Group. Net profit in 1Q2021 was a record S$8.82 million, an increase of 142.5% compared to 1Q2020. This was achieved on the back of a 51.4% YoY increase in net revenue, and a 43.8% YoY increase in gross revenue.

Similar to 2020, growth in profit was substantially higher than the growth in revenue, showing the positive operating leverage of the Group's business model.

Net inflows of client assets registered a record S$1.28 billion in 1Q2021, pushing the Group's assets under administration ("AUA") to a record S$16.11 billion as at 31 March 2021 (growth of 68.9% YoY). Gross Unit Trust subscription grew 66.8% YoY to a record S$2.21 billion in 1Q2021.

iFAST Corp believes that the robust growth seen by the Group in recent times has resulted from its past investments in building a strong integrated digital wealth management platform. iFAST Corp will continue to work hard on various initiatives in all existing markets that the Group operates in to ensure that its medium to long term growth prospects will remain strong.

Barring unforeseen circumstances, the Group expects its business performance for the full year 2021 to show healthy growth compared to 2020. In addition, the Group expects to increase its dividend per share in 2021 compared to 2020.

First Interim Dividend for FY2021

For the first interim dividend for 1Q2021, the Directors declared a dividend of 1.00 cents per ordinary share (first interim dividend for 1Q2020: 0.75 cents per ordinary share).

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Table 1: Profit / Loss - Geographical Segment

	Profit/Loss		FY20173	FY2018	FY2019	FY2020	1Q2021
	(S$ Million)
	Singapore	10.62	11.86	9.96	21.32	8.69
	Hong Kong	1.77	3.42	4.42	5.79	1.59
	Malaysia	1.07	1.37	1.76	3.75	1.52
	China	(4.17)	(4.60)	(4.82)	(4.88)	(1.40)
	Other1	(0.33)	0.52	(0.05)	(0.41)	(0.04)
	Profit before tax2	8.96	12.57	11.27	25.57	10.36
	Tax expense	(1.26)	(1.66)	(1.76)	(4.42)	(1.54)
	Net profit after tax2	7.70	10.91	9.52	21.15	8.82

Notes:

1. Representing share of results of associates.
2. Attributable to owners of the Company.
3. Restated as a result of adoption of SFRS(I)s with effect from 1 January 2018 for comparison purpose.

Chart 1: Group AUA grew 68.9% YoY and 11.5% QoQ to S$16.11 billion as at 31 March 2021

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Note:

1. The Group's AUA as at 31 March 2021 includes its effective 39.40% share of the India Business.

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About iFAST Corp

iFAST Corp (stock code: AIY) is a wealth management Fintech platform, with assets under administration (AUA) of S$16.11 billion as at 31 March 2021.

Incorporated in the year 2000 in Singapore and listed on the SGX-Mainboard in December 2014, the Group is also present in Hong Kong, Malaysia, China and India. Through the years, the Group has built a well-established Fintech ecosystem connecting its product providers and clients.

iFAST Corp holds the requisite licences in the various jurisdictions it operates in to provide a wide range of products and services. As at end March 2021, the Group offers access to over 12,000 investment products including over 8,300 funds from over 270 fund houses, over 1,400 bonds, stocks and ETFs listed on the Singapore, Hong Kong and US stock exchanges, as well as services including online discretionary portfolio management services, research and investment seminars, Fintech solutions, and investment administration and transaction services.

The main business divisions of the Group include the Business-to-Consumer ("B2C") division, the Business-to-Business ("B2B") division, and the emerging Fintech Solutions/Business-to-Business-to- Consumer ("B2B2C") model. The B2C platform, FSMOne.com (formerly known as Fundsupermart.com), is a multi-products transactional platform that caters to investors who prefer to do their own investments online. The B2B platforms cater to the specialised needs of more than 500 financial advisory companies, financial institutions, banks and internet companies with over 10,000 wealth advisers. iFAST Fintech Solutions, the emerging Fintech Solutions/B2B2C model, was

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launched in recent years to provide innovative and customisable Fintech solutions for the B2B clients and business partners to empower them with their own B2C Fintech capabilities.

The Group's mission statement is, "To help investors around the world invest globally and profitably". In the Singapore Governance and Transparency Index (SGTI) released from 2016 to 2020, iFAST Corp has been ranked within the top 20% among SGX-listed companies.

For more information, please visit www.ifastcorp.com

Contacts:

Tan Chee Wei

1. 6505 4222 [e-mail]

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