Financial services company iFAST is making another attempt at a digital banking licence, this time in Malaysia. Competition will be stiff, notes CGS-CIMB Research analyst Andrea Choong, with a reported 40 applicants vying for up to five licences. 

In a June 30 note, Choong is maintaining “buy” on the company, the best-performing stock on the Singapore Exchange (SGX) last year, with an unchanged target price of $8.00.

“We expect positive share price movement on this news,” notes Choong. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook