12 May 2009 – Following its acquisition of ING Platform Services Limited (“IPS”),
iFAST Corporation Pte Limited (“iFAST Corp”), the holding company of iFAST
Financial (HK) Limited and Fundsupermart HK, announced today that IPS would be
renamed as iFAST Platform Services (HK) Limited with effect from 12 May 2009.
“iFAST Platform Services (HK) Limited (or previously known as “ING Platform Services
Limited”) is the platform service provider of I-WRAP/Private Portfolio Service in Hong
Kong and Singapore. I-WRAP is a service for financial advisers to integrate their
investors’ transaction recordings, account keepings and valuation reporting services in a
The CEO and chairman of iFAST Corp, Mr Lim Chung Chun, said: “This is an exciting
milestone for our company. With the acquisition, iFAST will provide retail
and institutional customers with a wider range of products and efficient services designed
to meet their current and future needs. Our combined teams will create substantial growth
opportunities for the mutual fund industry, our customers and our employees.”
With its dedicated team of 15 account management professionals, iFAST aims to bring
best practices from various regions to help the IFAs to grow their business and build
lasting relationships with their clients. The services that iFAST provide will empower
IFAs to transit from the traditional transaction-based business model into one that enables
them to earn recurrent income. Tapping on iFAST platform capabilities, IFAs will be able
to advise clients with a more diverse variety of asset classes, a wider range of funds and
currencies. Meanwhile, investors will benefit from the integrated wealth management
platform through receiving consolidated account statements and operational efficiency.
iFAST Corp was established in January 2000 and is now the holding company for its
subsidiaries in Asia, including iFAST Financial Pte Ltd - Singapore’s leading provider of
investment administration platform for IFAs and the largest online unit trust distributor.
iFAST launched its Hong Kong B2C (Fundsupermart.com) and B2B businesses in July 2007 and July 2008 respectively through iFAST Financial (HK) Limited. iFAST Corp is also present in Malaysia, with the launch of the two B2C and B2B platforms in 2008. In April 2009, iFAST Corp expanded its business to India.
More about iFAST Corp
iFAST Corp’s two main corporate shareholders are: SPH AsiaOne Pte Ltd (the Internet arm of Singapore Press Holdings) and DMG & Partners Securities Pte Ltd (51% owned by OSK Investment Bank Bhd of Malaysia and 49% associate of Deutsche Bank).
For more information on iFAST Corp, please visit www.ifastcorp.com.