I had the privilege to attend iFAST Corporation Ltd‘s (SGX: AIY) FY2020 annual general meeting (AGM) at Suntec Singapore on Friday.

My first time at a hybrid AGM with all the safe management measures in place

I love attending AGMs as it allows me to meet management face-to-face and understand more about the business. It also allows networking with like-minded investors.

Here are some of my main takeaways from the AGM.

iFAST’s 1Q FY2021 Earnings Highlights

The AGM commenced with a business update from iFAST’s first quarter of FY2021 (1Q2021).

Here are the key numbers:

  • iFAST’s revenue for the latest quarter grew 43.8% year-on-year to S$55.3 million.
  • With net inflows of client assets seeing a record of S$1.3 billion in 1Q2021, iFAST’s AUA hit a new high of S$16.1 billion.
  • Net revenue (revenue earned after commission and fee paid or are payable to third-party financial advisers) increased by 51.4% to S$28.5 million.