iFAST Corporation Ltd (SGX:AIY) has spent the last quarter doing what growth stocks love to do: deliver a clean set of numbers, turn a former drag into a contributor, and keep investors staring at the 52‑week high like it’s the last cookie in the jar. As of 13 December 2025, the Singapore market is closed for the weekend; the latest traded session was 12 December 2025, when iFAST shares last traded at S$9.55, up 0.21%, and still within striking distance of the 52‑week high of S$9.99. [1]
Under the hood, the story investors are pricing in is straightforward: record assets under administration (AUA), strong net inflows, expanding profitability driven by Hong Kong’s ePension/eMPF work, and a UK digital bank that is finally (finally) stacking profitable quarters instead of losses. [2]
What follows is a “right now” roundup of the current news, the latest analyst forecasts/targets, and the most relevant recent analysis around iFAST stock as of 13.12.2025.
iFAST share price snapshot: near the top of the 52‑week range
iFAST’s investor-relations quote page shows S$9.55 (last updated for 12 Dec 2025), with a 52‑week range of S$6.02 to S$9.99 and a market cap around S$2.9 billion. [3]
That “near-highs” positioning is also showing up in investor commentary this week. The Smart Investor flagged iFAST as one of several Singapore names pressing new highs, pointing to surging AUA and recurring fee income, plus growth initiatives like Hong Kong’s eMPF rollout and ongoing digital banking expansion. [4]
The headline driver: iFAST’s record AUA and profit in 3Q2025
The clearest “hard catalyst” for the share price momentum remains iFAST’s 3Q2025 and 9M2025 performance.
In its 3Q2025 press release, iFAST reported:
- Record AUA of S$30.62 billion (+29.6% YoY)
- Record 3Q net profit of S$26.01 million (+54.7% YoY)
- 3Q net inflows of S$1.49 billion (+83.6% YoY)
- 9M net inflows of S$3.72 billion (+62.2% YoY)
- 9M net profit of S$67.15 million (+41.8% YoY) [5]
The Business Times coverage of the same results reinforced the narrative: profit growth was attributed to Hong Kong ePension, continued improvement in the core platform business, and the turnaround of iFAST Global Bank. [6]
This is the sort of mix markets like: a fee-led wealth platform (sensitive to AUA and flows) plus a banking arm that can add optionality—as long as it stops eating cash.
Hong Kong ePension/eMPF: the growth engine investors are watching
If iFAST has a “main quest” right now, it’s Hong Kong.
iFAST’s own results release highlighted that overall Hong Kong business profit before tax reached S$19.39 million in 3Q2025, up 46.4% YoY and 23.3% QoQ. [7]
In the results presentation, the group also shared a Hong Kong update (presented in HKD), showing 9M2025 actual gross revenue of HK$801 million, net revenue of HK$687 million, and profit before tax of HK$282 million, alongside a 2025 PBT target of >HK$380 million (updated in April 2025). [8]
Progress updates (and a key timing nuance)
A UOB Kay Hian research summary circulated in late October said that as of end‑Sep 2025, 16 of 22 MPF schemes had been onboarded, and that full onboarding was delayed from end‑2025 to Jan 2026—with management indicating this timing shift does not change revenue recognition or guidance, because revenue is based on a predefined scope of work rather than AUA/member count/transactions. [9]
That matters because it reframes what looks like an “operations delay” into something closer to “execution scheduling,” at least from a revenue-recognition perspective.
The risk reminder: guidance cuts can still happen
Earlier in 2025, iFAST stock got a sharp reminder that the Hong Kong segment can cut both ways. The Business Times reported that iFAST lowered its 2025 Hong Kong profit-before-tax target to HK$380 million from HK$500 million, citing higher investments ahead of onboarding, and shares fell sharply on the news. [10]
So yes: the engine is powerful—but it’s also where most of the project risk lives.
iFAST Global Bank: from “drag” to (small) contributor
The second pillar of the bull case is that iFAST Global Bank is no longer a hole in the boat.
In iFAST’s 3Q2025 release, the company said the bank has delivered four consecutive quarters of profitability (after first turning profitable in 4Q2024), with net profit of S$0.31 million in 3Q2025 and S$2.01 million in 9M2025, and it “remains on track” for full-year profitability in 2025. [11]
The Business Times added colour on the bank’s financial position, reporting that as at 30 Sep 2025 the bank’s liquidity coverage ratio was 617%, net stable funding ratio 200%, and total capital ratio 23.7%, all above minimum regulatory requirements. [12]
This bank piece is important not only for earnings. It also supports iFAST’s broader “ecosystem” logic—wealth + cash + payments—where the platform tries to become the place money arrives, grows, and eventually gets spent.
Payments expansion: Malaysia’s e-money milestone
Another “current strategy thread” in 2025 has been building out payments rails.
iFAST announced that its Malaysia-incorporated subsidiary received approval-in-principle from Bank Negara Malaysia to operate as an Electronic Money (e-money) Issuer and to hold a Money Services Business Class A licence, positioning this as a way to introduce payment services that complement its wealth and digital banking suite. [13]
The stated plan includes expanding multi-currency e-wallet services, prepaid cards linked to the e-wallet, and cross-border payment capabilities, with tighter integration between investing and transacting. [14]
For equity investors, this typically lands as “optionality”: it can deepen customer stickiness and widen revenue lines, but it also requires execution (and usually spending before profits).
Dividends and buybacks: iFAST is leaning into shareholder returns
iFAST has also been more explicit about returning capital.
Dividend trajectory (rising)
In its 3Q2025 release, iFAST proposed a third interim dividend of 2.30 Singapore cents per share, and said it expects to propose FY2025 total dividends of 8.20 cents per share or higher (at least a 39% YoY increase from FY2024). [15]
The company’s investor calendar lists the third interim dividend with ex‑dividend date 5 Nov 2025, record date 6 Nov 2025, and payable date 19 Nov 2025. [16]
The Business Times also reported iFAST management targeting a 25%–30% payout ratio as profitability improves, with commentary that the company now feels comfortable increasing dividends more meaningfully. [17]
Share buybacks (ongoing mandate)
On buybacks, an SGX announcement page on iFAST’s IR site shows a share buy-back mandate starting 28 Apr 2025 with a maximum authorization of 30,261,783 shares, and provides daily notices (for example: 58,700 shares purchased on 11 Sep 2025). [18]
Buybacks matter less for the absolute number of shares (often small day-to-day) and more for signalling: management is willing to recycle capital into the stock when conditions align.
Analyst forecasts: most targets cluster around S$11–S$12
As of 13 December 2025, the “street” view visible across several public sources is broadly constructive: targets generally imply ~20%+ upside from S$9.55, though the exact number depends on which dataset you use.
Broker target raises after 3Q results
The Edge reported that multiple analysts raised targets after iFAST’s strong 3QFY2025 results. Highlights included:
- UOB Kay Hian raising target price to S$11.12 (from S$9.92)
- CGS International (CGSI) raising target price to S$11.70 (from S$9.20)
The same report discussed upward revisions to AUA growth assumptions and expectations of stronger 4Q performance tied to eMPF onboarding and inflows. [19]
Consensus snapshots (as of 13 Dec 2025)
- Growbeansprout shows a consensus share price target of S$11.825 (source noted as SGX, as of 13 Dec 2025). [20]
- Stockopedia shows an analyst consensus target price of S$11.47 and a consensus EPS forecast of S$0.33 for the next financial year. [21]
- Nasdaq (via Fintel) cited an average target price around S$11.44, with a reported range from S$10.60 to S$12.60. [22]
None of these targets are promises. But taken together, they tell you something real: the market’s base case isn’t “peak earnings.” It’s “earnings power is still building,” and valuation follows.
Key risks and pressure points (the stuff that can ruin a good chart)
Even in a strong tape, iFAST’s setup has specific failure modes worth naming plainly:
- Execution and onboarding risk in Hong Kong (eMPF/ePension).
This has already shown up once in 2025 when Hong Kong PBT guidance was cut (HK$500m → HK$380m), triggering a sharp share-price reaction. [23] - Valuation sensitivity.
Multiple analyses frame iFAST as a premium-priced growth name. The Smart Investor explicitly warns about premium valuation even while acknowledging the scalable model and tailwinds. [24] - Share overhang and block sales.
In August 2025, iFAST shares fell sharply after a Temasek-linked substantial shareholder reduced its stake via a large block sale; the Business Times noted market concerns that remaining shares could be perceived as an overhang. [25] - Market-linked revenue exposure.
iFAST benefits from rising AUA and sustained inflows—but platform economics can feel very different in a risk-off market or during sharp drawdowns.
What investors will watch next (heading into early 2026)
As of 13 Dec 2025, the next “big checkpoint” is the next earnings release window. Third-party earnings calendars generally place iFAST’s next report around mid‑February 2026 (dates can vary by source and may change). [26]
Beyond the calendar, the real watchlist is operational:
- Hong Kong onboarding pace and whether profitability continues to scale as larger schemes move onto the platform. [27]
- iFAST Global Bank’s full-year profitability and whether profits broaden beyond a narrow set of revenue lines, while maintaining strong regulatory ratios. [28]
- Dividend follow-through toward the company’s stated FY2025 total dividend expectation (8.20 cents or higher) and the longer-term payout ratio ambition. [29]
- Payments integration progress in Malaysia following the e-money approval milestone and ecosystem build-out. [30]
Bottom line: iFAST has momentum—now it needs to keep compounding
iFAST stock ends the week near its highs because the business is doing the compounding thing growth investors pay for: AUA rising, inflows accelerating, profits scaling, and previously-lossmaking initiatives stabilising. [31]
The market’s next test is simple and brutal: can iFAST keep converting the Hong Kong opportunity and ecosystem build into durable, repeatable earnings—without unpleasant guidance surprises? The April guidance cut shows how quickly sentiment can flip; the October beat shows how quickly it can recover. [32]
References
1. www.ifastcorp.com, 2. www.ifastcorp.com, 3. www.ifastcorp.com, 4. thesmartinvestor.com.sg, 5. www.ifastcorp.com, 6. www.businesstimes.com.sg, 7. www.ifastcorp.com, 8. www.ifastcorp.com, 9. sginvestors.io, 10. www.businesstimes.com.sg, 11. www.ifastcorp.com, 12. www.businesstimes.com.sg, 13. www.ifastcorp.com, 14. www.ifastcorp.com, 15. www.ifastcorp.com, 16. www.ifastcorp.com, 17. www.businesstimes.com.sg, 18. www.ifastcorp.com, 19. www.theedgesingapore.com, 20. growbeansprout.com, 21. www.stockopedia.com, 22. www.nasdaq.com, 23. www.businesstimes.com.sg, 24. thesmartinvestor.com.sg, 25. www.businesstimes.com.sg, 26. www.tipranks.com, 27. sginvestors.io, 28. www.ifastcorp.com, 29. www.ifastcorp.com, 30. www.ifastcorp.com, 31. www.ifastcorp.com, 32. www.businesstimes.com.sg
