iFast eyes growth in Hong Kong, targets more licences in bid to scale abroad

WEALTH management platform iFast Corporation expects to "substantially accelerate the growth" of its overall Hong Kong business over the medium term, said chief executive Lim Chung Chun on Monday (Oct 25) as he provided details of the group's strategy under its 5-year plan.

During the earnings call for iFast's third-quarter results, Lim added that the company also wants to pursue more financial licences and increase the scale and quality of the existing business as it seeks to build a "truly global business model".

iFast sees strong growth coming from its overall Hong Kong business, especially in 2024 and 2025, boosted by its new ePension division, which will start making contributions from around 2023. The group provided guidance for the Hong Kong business over the weekend when announcing its quarterly results.