Will iFAST steal other brokers' lunch?

SINGAPORE do-it-yourself (DIY) investors will have something to look forward to very soon with the imminent launch of a discount brokerage service by mainboard-listed iFAST Corporation.

The company's shares have surged to S$1.085, or 46 times earnings, defying brokers such as UOB Kay Hian which downgraded it last week after a strong rally.

Recently admitted as a trading member at Singapore Exchange (SGX) and a clearing member of The Central Depository (CDP), iFAST is expected to launch a Singapore stockbroking service soon with pricing similar to its aborted launch half a year ago.