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Today slight drop, but volume very low, still on the run and boom town if get the license.
Razer got better chance than I-Fast.
Maybe they got insider news on the digital bank license.
Just wait n see
Just wait n see
Yes, suddenly surge up with good volume...any good news?
Suddenly surges up this 2 days.
whats the reason ?
whats the reason ?
The game is on....
Article below from Asia Banking and Finance.
Interested parties have until 31 December to submit applications.
The Monetary Authority of Singapore (MAS) has now begun accepting applications for five digital bank licences, comprising of two digital full bank licences and three digital wholesale bank licences, an announcement revealed.
Interested parties have until 31 December to submit applications.
MAS noted that digital full banks will be allowed to take deposits from and provide a wide range of financial services to retail and non-retail customer segments, whilst digital wholesale banks will be permitted to serve SMEs and other non-retail segments.
The entity requires applicants to meet the eligibility criteria for business track record, fit and proper shareholders, directors and management, capital commitment, a clear value proposition and a sustainable business model, to be considered. Applicants for the digital full bank licence must additionally be anchored in Singapore, controlled by Singaporeans and headquartered in Singapore.
Applicants that are deemed eligible will be assessed by their value proposition, ability to manage a prudent and sustainable digital banking business and growth prospects and other contributions to Singapore&rsquo s financial centre.
MAS says that they are looking to announce the licensees in mid-2020 and the successful applicants will be expected to commence operations by mid-2021.
So far, iFast and InstaReM has expressed plans to apply for the said licences.
Article below from Asia Banking and Finance.
MAS opens applications for new digital bank licences
Interested parties have until 31 December to submit applications.
The Monetary Authority of Singapore (MAS) has now begun accepting applications for five digital bank licences, comprising of two digital full bank licences and three digital wholesale bank licences, an announcement revealed.
Interested parties have until 31 December to submit applications.
MAS noted that digital full banks will be allowed to take deposits from and provide a wide range of financial services to retail and non-retail customer segments, whilst digital wholesale banks will be permitted to serve SMEs and other non-retail segments.
The entity requires applicants to meet the eligibility criteria for business track record, fit and proper shareholders, directors and management, capital commitment, a clear value proposition and a sustainable business model, to be considered. Applicants for the digital full bank licence must additionally be anchored in Singapore, controlled by Singaporeans and headquartered in Singapore.
Applicants that are deemed eligible will be assessed by their value proposition, ability to manage a prudent and sustainable digital banking business and growth prospects and other contributions to Singapore&rsquo s financial centre.
MAS says that they are looking to announce the licensees in mid-2020 and the successful applicants will be expected to commence operations by mid-2021.
So far, iFast and InstaReM has expressed plans to apply for the said licences.
From Bloomberg Intelligence. They listed the following 10 potential applicants for the 5 potential digital full banking licenses to be issued by MAS. My take is that iFast ranks very high among the potential applicants below. They are already a digital " wealth management" company. The banking license would not only allow them to expand their products and services, but lower their transactional costs (therefore more competitive) as well as they don' t have to rely on the traditional banks for certain operations (bank accounts, settlement, cash management, collecting deposits etc).
1. Grab (ride hailing)
2. Singtel (telecommunication)
3. Razer (gaming hardware)
4. InstaRem (money transfer)
5. ifast (WM, fund distribution)
6. Matchmove Pay (money transfer)
7. Validu Capital (P2P Lending)
8. Xfers (money transfer)
9. FOMO Pay (money transfer)
10. Liquid Pay Group (money transfer)
1. Grab (ride hailing)
2. Singtel (telecommunication)
3. Razer (gaming hardware)
4. InstaRem (money transfer)
5. ifast (WM, fund distribution)
6. Matchmove Pay (money transfer)
7. Validu Capital (P2P Lending)
8. Xfers (money transfer)
9. FOMO Pay (money transfer)
10. Liquid Pay Group (money transfer)
Think current level is good entry point for this fintech company.
Looking for entry point
ifast is dropping below $1 soon!!!
To add on - when HK govt was soliciting invitiation for the virtual bank license, iFast was in the first batch of the applicant. They have gone through the entire application process and therefore can learn from that experience to improve their chance in the Singapore' s digital bank license.
How much is such digital bank license worth? It is not a bidding exercise and therefore it costs nothing to the applicant except for the capital that they need to put up eventually. Just take a look at other virtual banks operating in other countries such as UK. Such license can potentially worth billions!
How much is such digital bank license worth? It is not a bidding exercise and therefore it costs nothing to the applicant except for the capital that they need to put up eventually. Just take a look at other virtual banks operating in other countries such as UK. Such license can potentially worth billions!
coronatse ( Date: 14-Aug-2019 14:37) Posted:
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ifast with their existing B2B and B2C financial products platform and AM licenses in Singapore, Malaysia, Hong Kong and China is probably one of the most qualified non-bank entity in Singapore to apply and be awarded one of the digital bank licenses. Other unicorns such as GRAB and SEA are also eyeing for the license. ifast' s market cap may be smaller (so far) than these players, but this is a home-grown fintech company with solid track records to boast.
The disruption of such digital banks to the oligopoly structure of the banking market in Singapore tends to be underestimated by the market. The award of 4 telco license didn' t cause much ripples among the telcos. But once the new licensee rolls out their service, the telco counters were all down significantly and punished by the stock market.
" Quote from another stock forum"
The disruption of such digital banks to the oligopoly structure of the banking market in Singapore tends to be underestimated by the market. The award of 4 telco license didn' t cause much ripples among the telcos. But once the new licensee rolls out their service, the telco counters were all down significantly and punished by the stock market.
" Quote from another stock forum"
so people out there dont really believe analyst report. instead of dropping back to $1.05, ifast went higher !!!
tangsookiam1947 ( Date: 05-May-2019 18:30) Posted:
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Mean very strong.
Good luck
Good luck
tangsookiam1947 ( Date: 06-May-2019 21:39) Posted:
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ifast didnt even drop much today!!
SgYuan ( Date: 06-May-2019 08:34) Posted:
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ew support 108 cannot break
week chart low support 106
month chart mid support 104
week chart low support 106
month chart mid support 104
tangsookiam1947 ( Date: 04-May-2019 19:53) Posted:
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Valuation: Maintain HOLD with lower TP of S$1.05.
We have cut our earnings forecast by 26-28% after factoring in higher costs. Maintain HOLD call with a lower TP of S$1.05, still based on the Dividend Discount Model (DDM) valuation methodology, given that it is a cash-led business
DBS has downgraded the stock. Not sure if other analysts will follow suit.
We have cut our earnings forecast by 26-28% after factoring in higher costs. Maintain HOLD call with a lower TP of S$1.05, still based on the Dividend Discount Model (DDM) valuation methodology, given that it is a cash-led business
DBS has downgraded the stock. Not sure if other analysts will follow suit.
tangsookiam1947 ( Date: 04-May-2019 19:53) Posted:
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will it drop below $1?
SgYuan ( Date: 01-May-2019 20:50) Posted:
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ew w0 85 w4 99 w5 122 wa 106 wb 121 wc 103
- wabc 19/37=51% px hit 103
- typ can be 61.8% tgt 99
- hope wc end 103
cur ew try 1st time for w3 fail
- unable to break 117
w0 103 w1 117 w2 107 w3?117 w2 109
- w3 fail recount
w0 103 w1 117 w2?109 w3?
w1 14
w2 9 tgt 108
- px hit 109 now
w3 23 tgt 131
w4
w5
- wabc 19/37=51% px hit 103
- typ can be 61.8% tgt 99
- hope wc end 103
cur ew try 1st time for w3 fail
- unable to break 117
w0 103 w1 117 w2 107 w3?117 w2 109
- w3 fail recount
w0 103 w1 117 w2?109 w3?
w1 14
w2 9 tgt 108
- px hit 109 now
w3 23 tgt 131
w4
w5
Net profit dropped by 40%. But share price only dropped 5%....
halleluyah ( Date: 29-Apr-2019 10:28) Posted:
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