[sgbuffett]

Like I said before such news will.cause the stock to move up and down a lot  but in fact there are many licenses up for grabs in the region so it is less important than investors make it out to be.

The most important thing for a Fintech is ability to grow is addressable market by platform development capability and mastery of financial regulation ...enabling to seek out  new opportunities.

This space remain fertile and iFast ability to bring access to new products remains key to its success.

We will see some positive or negative action on the stock but it is largely noise.

[sgbuffett]

The results are probably hinted to various players.
We know Airasia probably won a license as it is cut a lifeline. Airasia to change its name to Capital A.

It is however unwise for the regulators to Airasia a banking license given its tendency towards financial engineering as we have seen with its airline business.

[klat]

It all depends on how much they give under-the-table to the ministars.

A few %, I heard it is 10%.

[sgbuffett]

It all depends on how much they give under-the-table to the ministars.

A few %, I heard it is 10%.

Plse don't anyhow accuse.
Increasingly procurement is cleaned up in Malaysia as they now have a 2 party system and watch over each other for wrong doing.

Also, the civil service ties to political parties are weakened to reduce risk of collusion that results in corruption. You do something underhanded with someone in power. He many nit be in power and you will be in hot soup.

It turned out the cure for govt corruption was to have 2 party rule to check each other .

At the bottom level still have the small fry. So the need a cultural change for people to stop engaging jn such behavior

[klat]

Plse don't anyhow accuse.
Increasingly procurement is cleaned up in Malaysia as they now have a 2 party system and watch over each other for wrong doing.

Also, the civil service ties to political parties are weakened to reduce risk of collusion that results in corruption. You do something underhanded with someone in power. He many nit be in power and you will be in hot soup.

It turned out the cure for govt corruption was to have 2 party rule to check each other .

At the bottom level still have the small fry. So the need a cultural change for people to stop engaging jn such behavior

This is why they are in politick and it has become the norm. They are trying to outdo each other in this korrup saga. From the top to the bottom in evil service, I mean sivil service like the po.lice

[sgbuffett]

Likely the Malaysian digital bank license result later this month.

This halt is with regard to UK banking license they obtained

iFAST Corp: Proposed Acquisition of a Full Licensed UK Bank Adding a digital bank to the iFAST Fintech Ecosystem will further accelerate the growth of its global wealth management platform

[klat]

[sgbuffett]

Here is the report on ifast  UK Bank acquisition.
I am actually negative about this one as Europe banking regulations are much harder to navigate and  growing the bank there will be challenging. My view is the nearby Asian region is the best bet for growth with a large population without access to banking a digital bank better fit the needs


https://www.theedgesingapore.com/news/ma...k-459-mil/

[Niubee]

It all depends on how much they give under-the-table to the ministars.

A few %, I heard it is 10%.

Mahathir is Mr 10%

[sgbuffett]

iFast halted again.

This time near date of Malaysia digital bank license announcement.

They acquired UK digital bank because they lost out on Malaysia one? 

Or they got it and will integrate across continents?

[forum456]

https://www.theedgesingapore.com/news/eq...7-discount

raise money by issuing more shares

share price will drop to $7.3 ?

[sgbuffett]

https://www.theedgesingapore.com/news/eq...7-discount

raise money by issuing more shares

share price will drop to $7.3 ?

This was expected thats why the stock went down on Friday.

It is taking advantage of high stock price to raise money.

I don't think it is positive.

They are selling stock at 7.30-7.50 that is more than 10% below price before they announced they will buy the bank.

The only good thing is they are not borrowing any money for the acquisition
.

[Gstalk]

  WTF 

iFAST Corporation is raising $75 million by issuing 10 million new shares at a discount of between 4.5% and 7% from its last close of $7.85.


In documents seen by The Edge Singapore, the wealth management FinTech platform's base offer size is between 10.0 million and 10.3 million new shares, or some 3.6%-3.7% of existing outstanding shares, offered at between $7.30 and $7.50 per share.

iFAST also announced a $30 million upsize option of some 4.1 million new shares, representing between 1.4%-1.5% of existing outstanding shares.
The company will use the proceeds to fund the proposed acquisition of BFC Bank Limited, along with general corporate and working capital, says iFAST.

CGS-CIMB Securities (Singapore) is the sole placement agent and sole bookrunner for this offering.