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.