Shares & Derivatives
iFAST Share Price Approaches S$10: What’s Behind the Red-Hot Rise?
By The Smart Investor  •  September 17, 2021
The share price of iFAST Corporation Limited (SGX: AIY) has shot up by more than 10% in the last two days. At the time of writing, iFAST is trading at S$9.92, up from just S$8.99 two days ago. The stock is fast approaching the S$10 mark and is now trading at an all-time high. So what At the end of July, the group released a statement announcing that it had finalised the prime subcontractor contract relating to the Hong Kong electronic Mandatory Provident Fund (eMPF) project. As a recap, iFAST had announced in late January that it had been successful in the tender for this project along with its partner PCCW Limited (SEHK: 0008). With the signing of the contract, iFAST also informed shareholders that it will have a “very material” financial impact for 2023 and beyond. Now what Yesterday, the group released another statement when queried by the exchange on the surge in its share price....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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