Ifast Corporation Ltd · SGX:AIY
Ifast — Shareholder Meeting (April 2019)
30 slides from Ifast's shareholder meeting presentation, Apr 16, 2019
Slide 1: Pre-AGM Business Update
16 APRIL 2019 Pre-AGM Business Update iFAST Corporation Ltd.
Slide 2: Disclaimer
Disclaimer This presentation should be read as an overview of iFAST Corporation Ltd.’s ("iFAST Corp" or together with its subsidiaries, the “Group”) current business activities and operating environment. This presentation should not be solely relied upon by current and potential investors when makin
Slide 3: The Journey So Far
SECTION I The Journey So Far iFAST Corporation Ltd. 3
Slide 4: Wealth Management Platform – Designed To Have A Scalable Business Model
Wealth Management Platform – Designed To Have A Scalable Business Model • Started in 2000 with Fundsupermart.com in Singapore - B2C online unit trust distributor • Today we are a comprehensive wealth management platform with presence in 5 markets • Singapore, Hong Kong, Malaysia, China and India • I
Slide 5: Milestones
Milestones 2000 2008 2014 • Launch of Fundsupermart.com • Launch of iFAST Platform Services • Incorporation of iFAST Platform (B2C) in Singapore (B2B) in Hong Kong Services (Shenzhen) Qianhai in China • Launch of Fundsupermart.com • Listing on SGX-ST 2002 (B2C) and iFAST Platform Services • Launch o
Slide 6: Milestones Cont’d
Milestones Cont’d 2016 2017 2018 • Acquisition of a stockbroking • Launch of Stocks & ETFs on FSM • Hong Kong: iFAST Platform Services (HK) Limited awarded company and an insurance brokerage Hong Kong Internet Finance Award 2017 Bronze prize in the licenced firm in Hong Kong • Launch of Bonds on FSM
Slide 7: Record Group AUA @ End March 2019
Record Group AUA @ End March 2019 iFAST Group is a wealth management Fintech platform with assets under administration (AUA) of S$8.75 billion as at 31 Mar 2019. S$ million $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- Sep-00 Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-
Slide 8: AUA Breakdown: Markets & Products
AUA Breakdown: Markets & Products (as at 31 March 2019) AUA Breakdown By Markets AUA Breakdown by Products 2.3% 3.9% 4.5% 7.9% 7.2% 23.2% 66.6% 84.4% Singapore Hong Kong Unit Trusts Bonds Malaysia Others (China & India) Stocks & ETFs Cash Account iFAST Corporation Ltd. 8
Slide 9: Group Net Revenue And Net Profit (Excluding China)
Group Net Revenue And Net Profit (Excluding China) 60 58.87 30 49.01 50 25 41.53 40.46 40 20 36.68 Net Revenue ($ Million) 31.58 15.51 Net Profit ($ Million) 30 15 26.29 13.08 25.2 11.87 11.03 20 9.06 10 7.86 10 5 3.74 2.77 0 0 FY2011 FY2012 FY2013¹ FY2014² FY2015 FY2016 FY2017³ FY2018 Net revenue N
Slide 10: Net revenue breakdown between recurring and non-recurring sources
Net revenue breakdown between recurring and non-recurring sources Average contribution from recurring net revenue as opposed to non-recurring net revenue in the period from 2014 to 2018 was 82.6% S$ million 70 60 11.3 50 8.5 40 6.9 6.0 7.2 30 6.0 4.0 48.3 4.8 20 18.1 4.6 40.9 12.3 34.6 34.7 4.0 29.5
Slide 11: PBT margin for Group (based on net revenue)
PBT margin for Group (based on net revenue) (excluding China operation) (including China operation) 35.0% 35.0% 33.1% 31.1% 30.7% 29.2% 29.6% 30.0% 30.0% 26.8% 25.0% 24.3% 25.0% 20.7% 20.0% 20.0% 17.7% 15.0% 15.0% 15.0% 10.0% 10.0% 5.0% 5.0% 0.0% 0.0% 2014 2015 2016 2017 2018 2014 2015 2016 2017 201
Slide 12: Group Operating Cashflows
Group Operating Cashflows 25 21.62 20 17.62 16.92 Operating Cashfow ($ Million) 15.43 15 14.18 13.22 10.46 10.18 10 8.79 7.13 7.13 5.63 5 2.33 2.33 1.40 1.40 0 2011 2012 2013 2014 2015 2016 2017 2018 Operating Cashflows (excluding China) Operating Cashflows (including China) iFAST Corporation Ltd. 1
Slide 13: Capital Expenditure
Capital Expenditure 12,000 11,000 10,727 10,500 10,000 9,000 8,000 7,466 7,000 6,615 S$ Thousand 6,000 5,454 5,000 4,000 3,000 2,000 1,000 0 2015 2016 2017 2018 2019F iFAST Corporation Ltd. 13
Slide 14: The Financials: 2011 to 2018
SECTION II The Financials: 2011 to 2018 iFAST Corporation Ltd. 14
Slide 15: Financial Highlights (excluding China operation)
Financial Highlights (excluding China operation) FY2011 FY2012 FY2013¹ FY2014² FY2015 FY2016 FY20174 FY2018 Revenue (S$ million) 61.12 56.41 69.47 78.35 85.34 79.89 100.65 120.50 Revenue (YoY change) N.A. -7.7% 23.2% 12.8% 8.9% -6.4% 26.0% 19.7% Net revenue (S$ million) 25.20 26.29 31.58 36.68 41.53
Slide 16: Financial Highlights (including China operation)
Financial Highlights (including China operation) FY2011 FY2012 FY2013¹ FY2014² FY2015 FY2016 FY20174 FY2018 Revenue (S$ million) 61.12 56.41 69.47 78.35 85.34 80.60 101.17 121.24 Revenue (YoY change) N.A. -7.7% 23.2% 12.8% 8.9% -5.6% 25.5% 19.8% Net revenue (S$ million) 25.20 26.29 31.58 36.68 41.53
Slide 17: Results Overview for Group (excluding China operation)
Results Overview for Group (excluding China operation) S$ (Million) FY2011 FY2012 FY2013¹ FY2014² FY2015 FY2016 FY20174 FY2018 Revenue 61.12 56.41 69.47 78.35 85.34 79.89 100.65 120.50 Net revenue 25.20 26.29 31.58 36.68 41.53 40.46 49.01 58.87 Other income 0.06 0.09 0.16 0.24 1.53 1.88 1.10 1.16 Op
Slide 18: Results Overview for Group (including China operation)
Results Overview for Group (including China operation) S$ (Million) FY2011 FY2012 FY2013¹ FY2014² FY2015 FY2016 FY20174 FY2018 Revenue 61.12 56.41 69.47 78.35 85.34 80.60 101.17 121.24 Net revenue 25.20 26.29 31.58 36.68 41.53 40.69 49.45 59.62 Other income 0.06 0.09 0.16 0.24 1.53 1.88 1.08 1.16 Op
Slide 19: Profit/Loss – Geographical Segment
Profit/Loss – Geographical Segment Profit/Loss (S$ Million) FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY20175 FY2018 Singapore 6.10 6.54 8.39¹ 9.37² 11.82 9.07 10.62 11.86 Hong Kong (1.97) (1.19) 0.40 2.10 1.65 0.53 1.77 3.42 Malaysia (1.11)4 (0.92)4 (0.36)4 (0.04)4 0.28 0.38 1.07 1.37 Others³ - - -
Slide 20: Recurring and Non-Recurring Net Revenue
Recurring and Non-Recurring Net Revenue S$ (Million) FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Recurring net revenue 20.38 22.34 25.62 29.48 34.64 34.71 40.95 48.32 Non-recurring net 4.82 3.95 5.96 7.20 6.89 5.98 8.50 11.30 revenue Total net revenue 25.20 26.29 31.58 36.68 41.53 40.69
Slide 21: Net Revenue – Geographical Segment
Net Revenue – Geographical Segment S$ (Million) FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Singapore 21.15 21.33 24.10 25.72 30.04 29.54 34.77 39.30 Hong Kong 3.65 4.39 6.50 9.48 9.55 8.66 10.78 14.26 Malaysia 0.40 0.57 0.98 1.48 1.94 2.26 3.47 5.32 China - - - - - 0.23 0.43 0.75 Group
Slide 22: Strengthening Our Fintech Ecosystem
SECTION III Strengthening Our Fintech Ecosystem iFAST Corporation Ltd. 22
Slide 23: iFAST Fintech Ecosystem
iFAST Fintech Ecosystem (as at 31 Dec 2018) Connecting All to Help Investors Invest Globally and Profitably Fund Houses Fundsupermart.com / FSMOne.com / Holds relevant B2C Bondsupermart licences in 5 markets Banks/ Over Bond Dealers 330,000 customer FA Companies accounts in 5 Markets Over 350 compan
Slide 24: An Evolving Wealth Management Fintech Platform
An Evolving Wealth Management Fintech Platform • Fintech business models are still evolving globally • Fintech business models are particularly suitable for: • Simple products • Servicing the retail or mass affluent investors • Empowering B2B partners with improving Fintech capabilities iFAST Corpor
Slide 25: Eg 1: iFAST Malaysia Retail Bonds Business
Eg 1: iFAST Malaysia Retail Bonds Business • iFAST/FSMOne launched the retail bonds business in Malaysia recently • This follow the introduction of a bond seasoning framework which means that many bonds are now eligible for investors • Hurdles for most players however still remains, given that stand
Slide 26: Transaction Volume Of Bondsupermart’s Affiliated Brokers From Inception
Transaction Volume Of Bondsupermart’s Affiliated Brokers From Inception 170 162.72 160 152.69 150 140 127.30 130 120 116.22 110 102.41 102.43 100 90.36 S$ Million 90 85.14 83.95 80 76.75 70.88 70 68.91 60 53.08 56.64 53.29 50.76 46.66 50 43.43 41.09 40.92 40 35.52 30 20 9.07 9.44 7.80 10 5.14 7.54 2
Slide 27: Eg 2: Bringing Down the Fintech Barriers For B2B Partners
Eg 2: Bringing Down the Fintech Barriers For B2B Partners • Most financial institutions, big and small, struggle to have good Fintech capabilities given the Fintech capabilities encompass not just IT, but licensing, compliance and operational considerations as well • iFAST helps to empower various c
Slide 28: Net revenue breakdown between recurring and non-recurring sources
Net revenue breakdown between recurring and non-recurring sources 8.5% 6.7% 15.1% 24.7% Breakdown of Breakdown of Non-Recurring Recurring Net Net Revenue 52.4% Revenue (2018) (2018) 61.7% 24.0% 6.9% Transaction fees/commission income Trailer fee FX margin Wrap fee Fintech Solutions IT fees Platform
Slide 29: Vision 2028
Vision 2028 • We continue to work towards our S$100 billion by the end of 2028. • Given our constant efforts at improving the range and depth of our products and services, and our presence in 5 markets today, we believe the targets to the achievable with good executions. • In the short term, however
Slide 30: Thank You.
Thank You. FOR MORE INFORMATION, PLEASE VISIT www.ifastcorp.com iFAST Corporation Ltd.