Financial Alliance Corporation Limited ("FACORP") is the holding company of Financial Alliance Pte Ltd ("FAPL"), a licensed Financial Adviser and Capital Markets Services Licensee. FAPL is a leading Singapore-based financial advisory firm with over 450 financial advisory representatives. FAPL has been a longstanding business partner of iFAST and has demonstrated consistent profitability over the years. FACORP is also the majority shareholder of FA Advisory Sdn Bhd, a licensed Financial Planning and Advisory Firm in Malaysia.
The consideration for the Proposed Acquisition is S$19,575,000, which, based on the Company's estimates, represents a Price-to-Earnings ratio ("P/E ratio") of approximately 16x for FY2025 and 12x for FY2026. The consideration is to be satisfied in cash and was arrived at following arms-length negotiations. The Company expects to fund the Proposed Acquisition with a mix of internal resources and external borrowings.
The Group believes the financial advisory industry in Singapore has substantial growth potential, where players with scale, operational efficiency and access to products and modern technology will achieve dominance. The Group views FACORP as a leading non-insurance company-owned player that is well-placed to capitalise on this growth. In addition, the Group sees FACORP emerging as one of the long-term winners of industry consolidation, with the potential to list in the next two to three years.
With its established expertise in the financial advisory business and a highly complementary global digital banking and wealth management ecosystem, the Group believes it is well positioned to play a meaningful role in driving the next phase of industry growth. The Proposed Acquisition is expected to create a strategic bridge between the Group's wealth platform and the Business-to-business ("B2B") financial advisory business, enabling deeper collaboration, enhanced adviser support, and a scalable foundation for future expansion.
"We believe the necessary foundations are in place for FACORP to emerge as a leading non-insurance company-owned player in Singapore, with the scale and capabilities to serve as a reference operating model. We look forward to supporting FACORP in its journey to become the first listed financial advisory company on the Singapore Exchange," said Mr Lim Chung Chun, Group CEO and Chairman of iFAST Corp.
"This partnership represents a significant milestone in our journey. It sets the foundation for what comes next for FACORP and builds toward a potential public listing. Singapore's financial advisory industry is entering an exciting phase of growth. Firms that invest in governance and organisational depth today will be the ones serving clients at the highest levels decades from now.
With iFAST's incoming stake, we are positioning FACORP to be a leader in that future landscape - building a sustainable organisation that creates value for all our stakeholders while staying true to the advisory principles that have always guided us," said Mr Vincent Ee, Chief Executive Officer and Co-Founder of FACORP.
The relative figures for the Proposed Acquisition, computed on the bases set out in Rule 1006 of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), are either not applicable or less than 5%. The Proposed Acquisition is therefore a non-discloseable transaction. As required by Rule 1010(5), the net asset value of the assets being acquired was approximately S$13.00 million based on the latest available audited financial statements, with a 30% share amounting to S$3.90 million, although the target is a high Return-on-Equity ("ROE") people-driven business which predominantly generates fee-based income.
The transaction is not expected to have any material impact on the Group's earnings per share ("EPS") or net assets per share for the financial year ending 31 December 2026 but is expected to be earnings and EPS accretive (based on the normal operational performance of the business).
About iFAST Corp
iFAST Corp (stock code: AIY) is a digital banking and wealth management platform, with assets under administration (AUA) of S$30.62 billion as at 30 September 2025.
Incorporated in the year 2000 in Singapore and listed on the SGX-Mainboard in December 2014, the Group is also present in Hong Kong, Malaysia, China, and UK. Through the years, the Group has built a well-established Fintech ecosystem connecting its product providers and clients.
iFAST Corp holds the requisite licences in the various jurisdictions it operates in to provide a wide range of products and services. As at end September 2025, the Group offers access to over 27,400 investment products including over 16,000 funds from over 345 fund houses, over 2,500 bonds, stocks and ETFs listed on the Singapore, Hong Kong, US, Malaysia, UK, and China A stock exchanges, as well as services including wealth management solutions, banking services, research
and investment seminars, Fintech solutions, pension administration, and investment administration and transaction services.
The main business divisions of the Group include the Wealth Management division, the Digital Bank division, and the ePension division. Within the Wealth Management division, the Business-to-Consumer ("B2C") platform, FSMOne.com (formerly known as Fundsupermart.com), is a multi-products transactional platform that caters to investors who prefer to do their own investments online. The Business-to-Business ("B2B") platforms cater to the specialised needs of more than 820 financial advisory companies, financial institutions, banks and internet companies with over 14,200 wealth advisers. The iFAST Global Bank is a full-licensed UK bank that aspires to provide global banking connectivity to customers, corporates and financial institutions. iFAST ePension Services division provides a wide range of pension administration services and white label solutions for pension scheme sponsors, trustees and other institutions, enabling seamless digital access as well as efficient management and processing of pension scheme transactions.
The Group's mission statement is, "To help investors around the world invest globally and profitably".
For more information, please visit https://www.ifastcorp.com
Contacts:
Wilson Lee Riley Rui
(65) 6439 3832 (65) 6535 8033
ir@ifastfinancial.com ir@ifastfinancial.com
- End -