iFAST Corporation Ltd.

and its Subsidiaries

Company Registration No: 200007899C
(Incorporated in the Republic of Singapore)

Unaudited Full-Year 2017

Financial Statements Announcement

Page 1 of 24
Fourth Quarter and Full Year Ended 31 December 2017 Financial
Statements and Dividend Announcement

1(a)(i) An income statement and a statement of comprehensive income, for the group, together
with a comparative statement for the corresponding period of the immediately preceding
financial year.

Consolidated income statement for the fourth quarter and full year ended 31 December 2017

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %

Revenue 28,178 21,547 30.8 101,167 80,596 25.5

Commission and fee paid or payable to third party
financial advisers (14,874) (10,568) 40.7 (51,722) (39,904) 29.6
13,304 10,979 21.2 49,445 40,692 21.5
Other income 986 471 109.3 2,504 1,884 32.9
Depreciation of plant and equipment (373) (411) (9.2) (1,369) (1,578) (13.2)
Amortisation of intangible assets (900) (495) 81.8 (2,875) (1,492) 92.7
Staff costs (6,028) (5,210) 15.7 (21,087) (19,275) 9.4
Other operating expenses (4,644) (4,064) 14.3 (16,945) (14,815) 14.4
Results from operating activities 2,345 1,270 84.6 9,673 5,416 78.6

Finance income 199 200 (0.5) 740 838 (11.7)

(1)
Finance cost (1) NM (2) (2) -
Net finance income 199 199 - 738 836 (11.7)

Share of results of associates, net of tax (19) (70) (72.9) (326) (158) 106.3

Profit before tax 2,525 1,399 80.5 10,085 6,094 65.5

Tax expense (75) (304) (75.3) (1,255) (761) 64.9
Profit for the period / year 2,450 1,095 123.7 8,830 5,333 65.6

Profit attributable to:

Owners of the Company 2,506 1,147 118.5 9,038 5,447 65.9
Non-controlling interests (56) (52) 7.7 (208) (114) 82.5
Profit for the period / year 2,450 1,095 123.7 8,830 5,333 65.6

NM denotes not meaningful.

(1)
Amount less than $1,000

Page 2 of 24
1(a)(i) An income statement and a statement of comprehensive income, for the group, together
with a comparative statement for the corresponding period of the immediately preceding
financial year. (Cont’d)

Consolidated statement of comprehensive income for the fourth quarter and full year ended 31
December 2017

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %

Profit for the period / year 2,450 1,095 123.7 8,830 5,333 65.6

Other comprehensive income

Items that are or may be reclassified
subsequently to profit or loss:
Net change in fair value of available-for-sale
financial assets 84 28 200.0 823 534 54.1
Net change in fair value of available-for-sale
financial assets reclassified to profit or loss (494) 543 NM (1,114) 311 NM
Foreign currency translation differences for
foreign operations (103) 594 NM (942) 64 NM
Share of other comprehensive income
of associates (4) 8 NM (3) 8 NM
Other comprehensive income for the period / year,
net of tax (517) 1,173 NM (1,236) 917 NM
Total comprehensive income for the period / year 1,933 2,268 (14.8) 7,594 6,250 21.5

Attributable to:
Owners of the Company 1,988 2,318 (14.2) 7,805 6,363 22.7
Non-controlling interests (55) (50) 10.0 (211) (113) 86.7
Total comprehensive income for the period / year 1,933 2,268 (14.8) 7,594 6,250 21.5

NM denotes not meaningful.

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1(a)(ii) Breakdown and explanatory notes to income statement.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %

Profit for the period / year is arrived at after charging /

(crediting) the following:
Other income
- Investment income (948) (424) 123.6 (2,288) (1,220) 87.5
- Government grant (29) (41) (29.3) (145) (257) (43.6)
- Gain on acquisition of a subsidiary - - NM - (262) NM
- Gain on derecognition of an associate - - NM (19) - NM
- Miscellaneous income (9) (6) 50.0 (52) (145) (64.1)
(986) (471) 109.3 (2,504) (1,884) 32.9
Interest income
- from cash and cash equivalents (149) (82) 81.7 (464) (355) 30.7
- from investment in financial assets (49) (118) (58.5) (274) (483) (43.3)
- from receivables (1) - NM (2) - NM
(199) (200) (0.5) (740) (838) (11.7)

Operating lease expense 1,663 1,501 10.8 6,364 5,699 11.7

Unrealised exchange loss / (gain), net 130 (116) NM 384 193 99.0
Equity-settled share-based payment transactions,
included in staff costs 511 444 15.1 1,674 1,614 3.7
Equity-settled share-based payment transactions,
included in commission and fee paid or payable
to third party financial advisers 83 83 - 332 333 (0.3)
Impairment loss on investment in available-for-sale
financial assets, included in other operating
expenses 279 684 (59.2) 279 684 (59.2)
Gain on redemption of investment in available-for-sale
financial assets, included in investment income (773) (141) 448.2 (1,393) (373) 273.5
Dividend income on investment in available-for-sale
financial assets, included in investment income (135) (165) (18.2) (653) (691) (5.5)
Net gain on held-for-trading financial assets,
included in investment income (31) (109) (71.6) (206) (129) 59.7

NM denotes not meaningful.

(1) Amount less than $1,000

Page 4 of 24
1(b)(i) A statement of financial position (for the issuer and group), together with a
comparative statement as at the end of the immediately preceding financial year.

Group Company
As at As at
31-Dec-17 31-Dec-16 31-Dec-17 31-Dec-16
$'000 $'000 $'000 $'000
Assets
Plant and equipment 2,308 2,187 66 51
Intangible assets and goodwill 13,622 10,375 10,720 7,367
Subsidiaries - - 50,090 48,313
Associates 1,616 1,829 2,017 2,017
Other investments 3,849 - 783 -
Deferred tax assets 542 - - -
Prepayments and others 346 313 11 11
Total non-current assets 22,283 14,704 63,687 57,759

Current tax receivables 34 80 - -

Other investments 22,413 32,127 22,413 32,127
Trade and other receivables 37,191 24,091 7,773 2,135
Prepayments 1,315 1,662 26 94
Money market funds 2,619 1,490 - -
Cash at bank and in hand 30,879 20,974 8,452 3,595
Total current assets 94,451 80,424 38,664 37,951

Held under trust

Client bank accounts 275,461 156,078 - -
Client ledger balances (275,461) (156,078) - -
- - - -

Total assets 116,734 95,128 102,351 95,710

Equity
Share capital 65,545 64,147 65,545 64,147
Reserves 15,691 14,299 21,555 16,041
Equity attributable to owners
81,236 78,446 87,100 80,188
of the Company
Non-controlling interests 17 150 - -
Total equity 81,253 78,596 87,100 80,188

Liabilities
Deferred tax liabilities 1,195 481 930 196
Finance lease liabilities 13 19 - -
Total non-current liabilities 1,208 500 930 196

Trade and other payables 33,189 15,524 14,321 15,326

Finance lease liabilities 5 4 - -
Current tax payables 1,079 504 - -
Total current liabilities 34,273 16,032 14,321 15,326

Total liabilities 35,481 16,532 15,251 15,522

Total equity and liabilities 116,734 95,128 102,351 95,710

Page 5 of 24
1(b)(ii) Aggregate amount of group’s borrowings and debt securities.

Amount repayable in one year or less, or on demand

Group
As at As at
31-Dec-17 31-Dec-16
$'000 $'000
Secured Unsecured Secured Unsecured
Finance lease liabilities 5 - 4 -

Amount repayable after one year

Group
As at As at
31-Dec-17 31-Dec-16
$'000 $'000
Secured Unsecured Secured Unsecured
Finance lease liabilities 13 - 19 -

Details of any collateral

The finance lease liabilities as at 31 December 2017 are secured by the leased assets.

Page 6 of 24
1(c) A statement of cash flows (for the group), together with a comparative statement for the
corresponding period of the immediately preceding financial year.

Group Group
4Q17 4Q16 FY17 FY16
$'000 $'000 $'000 $'000

Cash flows from operating activities

Profit for the period / year 2,450 1,095 8,830 5,333
Adjustments for:
Depreciation of plant and equipment 373 411 1,369 1,578
Amortisation of intangible assets 900 495 2,875 1,492
Bad debts written off 2 5 2 5
Equity-settled share-based payment transactions 594 527 2,006 1,947
Dividend income on investment in available-for-sale financial assets (135) (165) (653) (691)
Gain on redemption of investment in available-for-sale financial assets (773) (141) (1,393) (373)
Net gain on held-for-trading financial assets (31) (109) (206) (129)
Share of results of associates, net of tax 19 70 326 158
Dividend income on investment in associates (9) (9) (36) (27)
Unrealised exchange loss / (gain), net 130 (116) 384 193
(1)
Plant and equipment written off - - 19
Intangible asset written off - - 2 -
Gain on disposal of plant and equipment (1) - (1) -
Gain on acquisition of a subsidiary - - - (262)
Gain on derecognition of an associate - - (19) -
Impairment loss on investment in available-for-sale financial assets 279 684 279 684
Net finance income (199) (199) (738) (836)
Tax expense 75 304 1,255 761
3,674 2,852 14,301 9,833
Change in trade and other receivables (3,407) (3,311) (13,415) (5,296)
Change in trade and other payables 4,658 1,485 12,087 834
Cash generated from operations 4,925 1,026 12,973 5,371
Tax paid (4) (15) (468) (679)
Interest received 204 197 714 940
(1)
Interest paid (1) (2) (2)
Net cash from operating activities 5,125 1,207 13,217 5,630

Cash flows from investing activities

Purchase of plant and equipment (313) (278) (1,535) (1,334)
Purchase of intangible assets (2,738) (2,080) (5,602) (5,372)
Proceeds from disposal of plant and equipment 1 - 1 -
Acquisition of and additional investment in associates - - (160) (1,617)
Dividend from associates - - 35 20
Purchase of investment in financial assets (12,943) (5,727) (60,577) (32,471)
Proceeds from redemption of investment in financial assets 20,210 6,591 73,681 35,008
Dividends received from investment in available-for-sale financial assets 4 9 34 39
Acquisition of subsidiary, net of cash acquired - - (702) (1,104)
Net cash from / (used in) investing activities 4,221 (1,485) 5,175 (6,831)

Cash flows from financing activities

Proceeds from exercise of share options 346 5 1,398 1,601
Purchase of treasury shares - (736) (548) (2,531)
Proceeds from shares issued to non-controlling interests of subsidiary - - 78 2,414
Repayment of finance lease liabilities (2) (1) (5) (3)
Dividends paid to owners of the Company (1,985) (1,787) (7,539) (7,311)
Net cash used in financing activities (1,641) (2,519) (6,616) (5,830)

Net increase / (decrease) in cash and cash equivalents 7,705 (2,797) 11,776 (7,031)
Cash and cash equivalents at beginning of the period / year 25,895 24,842 22,464 29,520
Effect of exchange rate fluctuations on cash held (102) 419 (742) (25)
Cash and cash equivalents at end of the period / year 33,498 22,464 33,498 22,464

(1)
Amount less than $1,000

Page 7 of 24
1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from
capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year.

Group
Attributable to owners of the Company
Foreign
Share Fair value currency Share option Performance Equity Reserve for Accumulated Non-controlling
Total Total equity
capital reserve translation reserve share reserve reserve own shares profits interests
reserve
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

At 1 January 2017 64,147 12 (535) 1,496 2,250 (2,010) (2,531) 15,617 78,446 150 78,596

Total comprehensive income for the year

Profit / (Loss) for the year - - - - - - - 9,038 9,038 (208) 8,830

Other comprehensive income

Net change in fair value of available-for-sale financial assets - 823 - - - - - - 823 - 823
Net change in fair value of available-for-sale financial assets reclassified to profit or loss - (1,114) - - - - - - (1,114) - (1,114)
Foreign currency translation differences for foreign operations - - (939) - - - - - (939) (3) (942)
Share of other comprehensive income of associates - 1 (4) - - - - - (3) - (3)
Total other comprehensive income - (290) (943) - - - - - (1,233) (3) (1,236)
Total comprehensive income for the year - (290) (943) - - - - 9,038 7,805 (211) 7,594

Transactions with owners, recorded directly in equity

Contributions by and distributions to owners
Share options exercised 1,398 - - - - - - - 1,398 - 1,398
Purchase of treasury shares - - - - - - (548) - (548) - (548)
Treasury shares re-issued - - - - (785) - 540 245 - - -
One-tier tax-exempt 2016 final dividend paid of 0.75 cents per share - - - - - - - (1,970) (1,970) - (1,970)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - - - (1,789) (1,789) - (1,789)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - - - (1,795) (1,795) - (1,795)
One-tier tax-exempt interim dividend paid of 0.75 cents per share - - - - - - - (1,985) (1,985) - (1,985)
Equity-settled share-based payment transactions - - - 294 1,380 - - - 1,674 - 1,674
Total contributions by and distribution to owners 1,398 - - 294 595 - (8) (7,294) (5,015) - (5,015)

Changes in ownership interests in subsidiaries

Issue of shares to non-controlling interests of subsidiary - - - - - - - - - 78 78
Total changes in ownership interests in subsidiaries - - - - - - - - - 78 78

Total transactions with owners 1,398 - - 294 595 - (8) (7,294) (5,015) 78 (4,937)

At 31 December 2017 65,545 (278) (1,478) 1,790 2,845 (2,010) (2,539) 17,361 81,236 17 81,253

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1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from
capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year. (Cont’d)

Group
Attributable to owners of the Company
Foreign
Share Fair value currency Share option Performance Equity Reserve for Accumulated Non-controlling
Total Total equity
capital reserve translation reserve share reserve reserve own shares profits interests
reserve
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

At 1 January 2016 62,546 (833) (606) 1,306 826 (4,161) - 17,481 76,559 - 76,559

Total comprehensive income for the year

Profit / (Loss) for the year - - - - - - - 5,447 5,447 (114) 5,333

Other comprehensive income

Net change in fair value of available-for-sale financial assets - 534 - - - - - - 534 - 534
Net change in fair value of available-for-sale financial assets reclassified to profit or loss - 311 - - - - - - 311 - 311
Foreign currency translation differences for foreign operations - - 63 - - - - - 63 1 64
(1)
Share of other comprehensive income of associates - 8 - - - - - 8 - 8
Total other comprehensive income - 845 71 - - - - - 916 1 917
Total comprehensive income for the year - 845 71 - - - - 5,447 6,363 (113) 6,250

Transactions with owners, recorded directly in equity

Contributions by and distributions to owners
Share options exercised 1,601 - - - - - - - 1,601 - 1,601
Purchase of treasury shares - - - - - - (2,531) - (2,531) (2,531)
One-tier tax-exempt 2015 final dividend paid of 0.75 cents per share - - - - - - - (1,959) (1,959) - (1,959)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - - - (1,776) (1,776) - (1,776)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - - - (1,789) (1,789) - (1,789)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - - - (1,787) (1,787) - (1,787)
Equity-settled share-based payment transactions - - - 190 1,424 - - - 1,614 - 1,614
Total contributions by and distribution to owners 1,601 - - 190 1,424 - (2,531) (7,311) (6,627) - (6,627)

Changes in ownership interests in subsidiaries

Issue of shares to non-controlling interests of subsidiary - - - - - 2,151 - 2,151 263 2,414
Total changes in ownership interests in subsidiaries - - - - - 2,151 - - 2,151 263 2,414

Total transactions with owners 1,601 - - 190 1,424 2,151 (2,531) (7,311) (4,476) 263 (4,213)

At 31 December 2016 64,147 12 (535) 1,496 2,250 (2,010) (2,531) 15,617 78,446 150 78,596

Page 9 of 24
1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from
capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year. (Cont’d)

Company
Attributable to owners of the Company

Fair value Share option Performance Reserve for Accumulated

Share capital Total equity
reserve reserve share reserve own shares profits

$'000 $'000 $'000 $'000 $'000 $'000 $'000

At 1 January 2017 64,147 12 1,496 2,250 (2,531) 14,814 80,188

Total comprehensive income for the year

Profit for the year - - - - - 12,444 12,444

Other comprehensive income

Net change in fair value of available-for-sale financial assets - 771 - - - - 771
Net change in fair value of available-for-sale financial assets reclassified to profit or loss - (1,062) - - - - (1,062)
Total other comprehensive income - (291) - - - - (291)
Total comprehensive income for the year - (291) - - - 12,444 12,153

Transactions with owners, recorded directly in equity

Contributions by and distributions to owners
Share options exercised 1,398 - - - - - 1,398
Purchase of treasury shares - - - - (548) - (548)
Treasury shares re-issued - - - (785) 540 245 -
One-tier tax-exempt 2016 final dividend paid of 0.75 cents per share - - - - - (1,970) (1,970)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - (1,789) (1,789)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - (1,795) (1,795)
One-tier tax-exempt interim dividend paid of 0.75 cents per share - - - - - (1,985) (1,985)
Equity-settled share-based payment transactions - - 68 1,380 - - 1,448
Total contributions by and distribution to owners 1,398 - 68 595 (8) (7,294) (5,241)

Total transactions with owners 1,398 - 68 595 (8) (7,294) (5,241)

At 31 December 2017 65,545 (279) 1,564 2,845 (2,539) 19,964 87,100

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1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from
capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year. (Cont’d)

Company
Attributable to owners of the Company

Fair value Share option Performance Reserve for Accumulated

Share capital Total equity
reserve reserve share reserve own shares profits

$'000 $'000 $'000 $'000 $'000 $'000 $'000

At 1 January 2016 62,546 (833) 1,306 826 - 15,723 79,568

Total comprehensive income for the year

Profit for the year - - - - - 6,402 6,402

Other comprehensive income

Net change in fair value of available-for-sale financial assets - 534 - - - - 534
Net change in fair value of available-for-sale financial assets reclassified to profit or loss - 311 - - - - 311
Total other comprehensive income - 845 - - - - 845
Total comprehensive income for the year - 845 - - - 6,402 7,247

Transactions with owners, recorded directly in equity

Contributions by and distributions to owners
Share options exercised 1,601 - - - - - 1,601
Purchase of treasury shares - - - - (2,531) - (2,531)
One-tier tax-exempt 2015 final dividend paid of 0.75 cents per share - - - - - (1,959) (1,959)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - (1,776) (1,776)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - (1,789) (1,789)
One-tier tax-exempt interim dividend paid of 0.68 cents per share - - - - - (1,787) (1,787)
Equity-settled share-based payment transactions - - 190 1,424 - - 1,614
Total contributions by and distribution to owners 1,601 - 190 1,424 (2,531) (7,311) (6,627)

Total transactions with owners 1,601 - 190 1,424 (2,531) (7,311) (6,627)

At 31 December 2016 64,147 12 1,496 2,250 (2,531) 14,814 80,188

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1(d)(ii) Details of any changes in the company's share capital arising from rights issue,
bonus issue, share buy-backs, exercise of share options or warrants, conversion of
other issues of equity securities, issue of shares for cash or as consideration for
acquisition or for any other purpose since the end of the previous period reported on.
State the number of shares that may be issued on conversion of all the outstanding
convertibles, if any, against the total number of issued shares excluding treasury
shares and subsidiary holdings of the issuer, as at the end of the current financial
period reported on and as at the end of the corresponding period of the immediately
preceding financial year. State also the number of shares held as treasury shares and
the number of subsidiary holdings, if any, and the percentage of the aggregate
number of treasury shares and subsidiary holdings held against the total number of
shares outstanding in a class that is listed as at the end of the current financial period
reported on and as at the end of the corresponding period of the immediately
preceding financial year.

The number of shares in issue in the Company as at 31 December 2017 excluding treasury
shares and subsidiary holdings was 264,672,618 ordinary shares (30 September 2017:
264,032,318 ordinary shares). The movements in the Company’s share capital during the fourth
quarter ended 31 December 2017 were as follows:

Number of
ordinary shares
As at 30 September 2017 264,032,318
Exercise of share options 640,300
Vesting of performance shares -
Purchase of treasury shares -
As at 31 December 2017 264,672,618

Share Option Schemes 2003 and 2013 (“iFAST SOS”)

The number of outstanding share options under the iFAST SOS was as follows:

Number of
share options
As at 30 September 2017 5,308,901
Share options granted -
Exercised (640,300)
Forfeited -
As at 31 December 2017 4,668,601

As at 31 December 2017, the number of outstanding share options under the iFAST SOS was
4,668,601 (31 December 2016: 7,346,454).

iFAST Corporation Performance Share Plan (“iFAST PSP”)

The number of outstanding performance shares granted but not vested under iFAST PSP was as
follows:

Page 12 of 24
 Number of
performance
shares
As at 30 September 2017 4,218,500
Performance shares granted but not vested -
Vested -
Forfeited (50,700)
As at 31 December 2017 4,167,800

As at 31 December 2017, the number of outstanding performance shares granted but not vested
under the iFAST PSP was 4,167,800 (31 December 2016: 3,136,400).

Treasury shares and subsidiary holdings

The number of shares held as treasury shares was as follows:

Number of
treasury shares
As at 30 September 2017 2,869,200
Purchased by way of on-market acquisition -
Purchased by way of off-market acquisition -
Re-issued -
As at 31 December 2017 2,869,200

As at 31 December 2017, 2,869,200 (31 December 2016: 2,683,300) treasury shares were held
by the Company that may be re-issued upon the exercise of share options under the iFAST SOS
and upon the vesting of performance shares under the iFAST PSP.

As at 31 December 2017, the treasury shares held represented 1.1% (31 December 2016: 1.0%)
of the total number of issued shares excluding treasury shares.

The Company has no subsidiary holdings as at 31 December 2017 and 31 December 2016.

1(d)(iii)To show the total number of issued shares excluding treasury shares as at the end of
the current financial period and as at the end of the immediately preceding year.

As at As at
31-Dec-17 31-Dec-16

Total number of issued shares excluding treasury shares 264,672,618 262,223,415

1(d)(iv)A statement showing all sales, transfers, cancellation and/or use of treasury shares
as at the end of the current financial period reported on.

There were no sales, transfer, cancellation and/or use of treasury shares during the fourth
quarter ended 31 December 2017.

1(d)(v) A statement showing all sales, transfers, cancellation and/or use of subsidiary
holdings as at the end of the current financial period reported on.

There were no sales, transfer, cancellation and/or use of subsidiary holdings as at 31 December
2017.

Page 13 of 24
2. Whether the figures have been audited, or reviewed and in accordance with which
auditing standard or practice.

The figures have not been audited or reviewed by the Group’s external auditors.

3. Where the figures have been audited or reviewed, the auditors’ report (including any
qualifications or emphasis of a matter).

Not applicable.

4. Whether the same accounting policies and methods of computation as in the issuer’s
most recently audited annual financial statements have been applied.

The financial information have been prepared in accordance with the same accounting policies
and methods of computation adopted in the audited financial statements of the last financial
year, except for those disclosed under paragraph 5 below.

5. If there are any changes in the accounting policies and methods of computation,
including any required by an accounting standard, what has changed, as well as
the reasons for, and the effect of, the change.

The Group and the Company have adopted the new and revised Singapore Financial Reporting
Standards ("FRS") and Interpretations of FRS ("INT FRS") that are effective for annual period 1
January 2017. The adoption of these FRSs and INT FRSs did not have any significant effect on
the financial statements of the Group and the Company.

6. Earnings per ordinary share of the group for the current financial period reported
on and the corresponding period of the immediately preceding financial year,
after deducting any provision for preference dividends.

4Q17 4Q16 FY17 FY16

(i) Based on weighted average number of ordinary shares on issue
- Weighted average number of ordinary shares 264,491,918 262,414,248 263,457,827 261,890,580
Basic earnings per share (cents) 0.95 0.44 3.43 2.08

(ii) On a fully diluted basis of ordinary shares

- Adjusted weighted average number of ordinary shares 269,169,264 265,979,889 268,457,635 267,347,773
Diluted earnings per share (cents) 0.93 0.43 3.37 2.04

7. Net asset value (for the issuer and group) per ordinary share based on the total
number of issued shares excluding treasury shares of the issuers at the end of
the (a) current financial period reported on and (b) immediately preceding
financial year.

Group Company
31-Dec-17 31-Dec-16 31-Dec-17 31-Dec-16

Net asset value per ordinary share (cents) 30.69 29.92 32.91 30.58

Page 14 of 24
8. A review of the performance of the group, to the extent necessary for a reasonable
understanding of the group’s business. It must include a discussion of the
following: -
(a) any significant factors that affected the turnover, costs, and earnings of the
group for the current financial period reported on, including (where applicable)
seasonal or cyclical factors; and
(b) any material factors that affected the cash flow, working capital, assets or
liabilities of the group during the current financial period reported on.

Consolidated Income Statement

Revenue

The Group achieved revenue of $28.18 million for the fourth quarter ended 31 December 2017
(“4Q17”), which was 30.8% higher than the fourth quarter last year (“4Q16”). Revenue of $101.17
million for the financial year ended 31 December 2017 (“FY17”) was 25.5% higher than the last
financial year (“FY16”).

The year-on-year (“YoY”) increases in both 4Q17 and FY17 were due mainly to the growth of the
Group’s business and Asset Under Administration (“AUA”) in both Business-to-Customer (“B2C”)
and Business-to-Business (“B2B”) business divisions in the period, contributed by the Group’s
continuing efforts at strengthening its investment platforms in the various countries in the recent
years.

With a wider range of investment products and services to deliver and the financial technology
(“FinTech”) capabilities enhanced further, the Group has made significant progress in becoming a
more integrated wealth management platform to strengthen its position as a key player in the
wealth management industry. The Group’s AUA grew 24.3% Year-on-Year (“YoY”) to reach a
new record of $7.58 billion as at 31 December 2017.

Breaking down by geographical segment, Singapore operation is still the major contributor of the
Group’s revenue. The revenue in Singapore operation grew 24.7% YoY in 4Q17 and 23.6% YoY
in FY17, which was mainly contributed by increases in investment subscription amounts
(including transfer-in amounts) in unit trusts ("UTs"), bonds, exchange-traded funds (“ETFs”),
stocks and robo-advisory portfolios in the period. After the launch of HKEX stockbroking service
in December 2016, the Singapore operation further launched on its FSMOne platform SGX
stockbroking service in June 2017 and US stockbroking service in December 2017 to allow its
customers to invest more globally. The AUA of Singapore operation grew 19.3% YoY as at 31
December 2017.

In Malaysia, the significant growth of UT business and AUA contributed to the significant
increases in revenue of 70.6% YoY in 4Q17 and 55.8% YoY in FY17. With introduction of bonds
into customers’ investment portfolios and launch of robo-advisory portfolio service in the second
quarter of 2017, it has attracted more investors to open investment accounts on the B2C
investment platform in recent quarters. The AUA of Malaysia operation grew 52.0% YoY as at 31
December 2017.

Hong Kong operation also continued its efforts to broaden the range and depth of its investment
products and services on its platforms in the year and launched its new FSMOne platform in
4Q17. The significant increase in net inflows of investments from customers in the year resulted
in increases in revenue of 46.5% YoY in 4Q17 and 25.9% YoY in FY17. The AUA of Hong Kong
operation grew 27.4% YoY as at 31 December 2017.

China business still remains in the early stages of building the iFAST brand among potential
clients and investment practitioners in China’s wealth management industry. For the China
onshore business, the China operation is working to expand its network with existing B2B
partners in the market. For the China offshore business, it continues to help investors in China
invest internationally, especially through the Group’s Hong Kong and Singapore markets.
However, the gross revenue in China operation declined in FY17. This was because there were

Page 15 of 24
some ad-hoc contributions received from institutional business in 2016, which has been
negatively affected by local regulatory changes since the beginning of this year. Despite that, the
net revenue in China operation still saw a significant increase in FY17, benefitting from the
onshore and offshore Chinese markets growing increasingly over the year.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %
Singapore 19,733 15,822 24.7 72,572 58,719 23.6
Hong Kong 6,144 4,193 46.5 20,682 16,426 25.9
Malaysia 2,163 1,268 70.6 7,397 4,748 55.8
28,040 21,283 31.7 100,651 79,893 26.0
China 138 264 (47.7) 516 703 (26.6)
Total revenue 28,178 21,547 30.8 101,167 80,596 25.5

Commission and fee paid or payable to third party financial advisers

Commission and fee paid or payable to third party financial advisers increased by 40.7% from
$10.57 million in 4Q16 to $14.87 million in 4Q17 and 29.6% from $39.90 million in FY16 to
$51.72 million in FY17. The increase was in line with the increase in revenue from B2B business
in the period.

Net revenue

Net revenue represents revenue earned by the Group after commission and fee paid or payable
to third party financial advisers. The net revenue of $13.30 million for 4Q17 was 21.2% higher
than 4Q16, and the net revenue of $49.45 million for FY17 was 21.5% higher than FY16.

The following table shows the breakdown of the Group’s net revenue, by recurring and non-
recurring basis. The Group’s business module gives a stream of reliable recurring revenue which
is based on AUA. For 4Q17, 82.5% of net revenue is derived from recurring net revenue and
17.5% is from non-recurring net revenue. For FY17, 82.8% of net revenue is derived from
recurring net revenue and 17.2% is from non-recurring net revenue.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %
Recurring net revenue 10,977 9,037 21.5 40,947 34,714 18.0
Non-recurring net revenue 2,327 1,942 19.8 8,498 5,978 42.2
Total net revenue 13,304 10,979 21.2 49,445 40,692 21.5

Recurring net revenue is usually calculated based on a percentage of average AUA of

Investment Products distributed on the Group’s platforms, and mainly comprises trailer fees,
platform fees and wrap fees. The YoY increase in recurring net revenue in 4Q17 and FY17 was
mainly due to an increase in average AUA for both B2B business and B2C business in the
period, which benefited from new inflows of investments from customers besides positive market
sentiment in the period. The average AUA of the Group grew 20.9% YoY to $7.25 billion in 4Q17
and 18.3% YoY to $6.76 billion in FY17.

Non-recurring revenue mainly comprises commission income derived from investment

subscription via front-end load commissions or processing fees; service fees arising from the
provision of currency conversion administration services to customers and the provision of
administration services to FA firms; advertising fees earned from advertisements placed by third
parties on iFAST websites and mobile applications; and IT solution fees for provision of IT
solutions to business partners. The increase in non-recurring net revenue was due mainly to
increases in commission income as a result of increased investment subscription from customers
and IT outsourcing fees earned from provision of IT solutions to some FA firms and institutional
clients in the period.

Page 16 of 24
The following table shows the breakdown of the Group’s net revenue by geographical segments.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %
Singapore 9,287 7,956 16.7 34,765 29,539 17.7
Hong Kong 2,884 2,280 26.5 10,781 8,658 24.5
Malaysia 995 611 62.8 3,468 2,260 53.5
13,166 10,847 21.4 49,014 40,457 21.2
China 138 132 4.5 431 235 83.4
Total net revenue 13,304 10,979 21.2 49,445 40,692 21.5

Other income

Other income increased by $0.52 million or 109.3% from $0.47 million in 4Q16 to $0.99 million in
4Q17 and $0.62 million or 32.9% from $1.88 million in FY16 to $2.50 million in FY17, due mainly
to higher investment income earned in the period.

Operating expenses

Excluding China operation, the Group’s operating expenses increased by $1.62 million or 18.0%
from $8.98 million in 4Q16 to $10.60 million in 4Q17 and $4.27 million or 12.9% from $33.13
million in FY16 to $37.40 million in FY17. The increase was mainly due to the Group’s increased
efforts in enhancing its platform capabilities including improving the range of investment products
and services being provided to customers in the existing markets in the period. Singapore
operation has leased additional office space from July 2017 to support its business expansion.

For our China operation, the operating expenses increased by $0.15 million or 12.7% from $1.20
million in 4Q16 to $1.35 million in 4Q17 and $0.85 million or 20.9% from $4.03 million in FY16 to
$4.88 million in FY17. The increase was due mainly to our increasing efforts in building our brand
and business in the China market over the period. China operation opened its new Shanghai
office in 3Q16.

Overall, the Group’s total operating expenses increased by $1.77 million or 17.3% from $10.18
million in 4Q16 to $11.95 million in 4Q17 and $5.12 million or 13.8% from $37.16 million in FY16
to $42.28 million in FY17. The following table shows the breakdown of the Group’s operating
expenses by its existing markets and China market.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %

Operating expenses (excluding China operation) 10,597 8,984 18.0 37,401 33,128 12.9
Operating expenses in China operation 1,348 1,196 12.7 4,875 4,032 20.9
Total operating expenses 11,945 10,180 17.3 42,276 37,160 13.8

Depreciation of plant and equipment decreased by $0.04 million or 9.2% from $0.41 million in
4Q16 to $0.37 million in 4Q17 and $0.21 million or 13.2% from $1.58 million in FY16 to $1.37
million in FY17, as certain plant and equipment were fully depreciated after 2016.

Amortisation of intangible assets increased by $0.40 million or 81.8% from $0.50 million in 4Q16
to $0.90 million in 4Q17 and $1.39 million or 92.7% from $1.49 million in FY16 to $2.88 million in
FY17. These were due mainly to additions of intangible assets (including internally-developed IT
software assets) over the period, to support business expansion in the countries that the Group
operates in and to continuously strengthen the FinTech capabilities on our investment platforms.

Staff costs increased by $0.82 million or 15.7% from $5.21 million in 4Q16 to $6.03 million in
4Q17 and $1.81 million or 9.4% from $19.28 million in FY16 to $21.09 million in FY17, due mainly

Page 17 of 24
to the annual salary increment adjusted in January 2017, the increased number of staff over the
period, and higher staff bonus in line with improved business performance provided in 2017.

Other operating expenses increased by $0.58 million or 14.3% from $4.06 million in 4Q16 to
$4.64 million in 4Q17 and $2.13 million or 14.4% from $14.82 million in FY16 to $16.95 million in
FY17, due mainly to an increase in rental of China operation in the period arising from an opening
of the new Shanghai office in 3Q16, an increase in rental of Singapore operation arising from
lease of additional office space in Singapore from July 2017, and increases in advertising, IT
service and maintenance, bank charges and brokerage costs to support the growth of the
Group’s business in the period. The increase was partially offset by a decrease in impairment
loss on investment in available-for-sale financial assets in the fourth quarter.

Net finance income

Net finance income kept flat YoY in 4Q17. Net finance income decreased by $0.10 million or
11.7% from $0.84 million in FY16 to $0.74 million in FY17, due mainly to some redemption of
investments in available-for-sale bond securities over the year, which was partially offset by
higher interest income from short term deposits in the second half of 2017.

Share of results of associates, net of tax

The Group’s share of loss after tax of associates decreased from $0.07 million in 4Q16 to $0.02
million in 4Q17, but increased from $0.16 million in FY16 to $0.33 million in FY17. This was due
mainly to share of loss of associates, namely PC iFAST Holding (SG) Pte Ltd (“PC iFAST”) and
Pecuniam Pte Ltd (renamed as iFAST India Holdings Pte Ltd with effect from 12 February 2018),
acquired in 2Q16 in the period, while PC iFAST has been derecognised as an associate upon the
dilution of the Company’s interest in PC iFAST from 25.0% to 19.5% in June 2017. iFAST India
Holdings Pte Ltd is an ultimate holding company of iFAST Financial India Pvt Ltd (“iFAST India”),
an India-incorporated company engaged in the distribution of investment products including
mutual funds in India. iFAST India had a AUA of Indian Rupee 27.32 billion (equivalent to
$570.73 million) as at 31 December 2017, growing at a 5-year compound annual growth rate
(“CAGR”) of approximately 57.8%.

Profit for the period / year, after non-controlling interests

The following table shows the breakdown of the Group’s profit before tax by geographical
segments and the breakdown of the Group’s net profit after tax by its existing markets.

Group Group
4Q17 4Q16 Change FY17 FY16 Change
$'000 $'000 % $'000 $'000 %
Singapore 2,871 2,226 29.0 11,907 9,070 31.3
Hong Kong 559 177 215.8 1,818 531 242.4
Malaysia 306 108 183.3 1,067 378 182.3
(1)
Other (19) (70) (72.9) (326) (158) 106.3
Profit before tax (excluding China operation) 3,717 2,441 52.3 14,466 9,821 47.3
Tax expense (75) (303) (75.2) (1,255) (760) 65.1
Net profit after tax (excluding China operation) 3,642 2,138 70.3 13,211 9,061 45.8
(2)
China operation (1,136) (991) 14.6 (4,173) (3,614) 15.5
Net profit after tax (including China operation) 2,506 1,147 118.5 9,038 5,447 65.9
Notes:
(1) Referring to share of results of associates.
(2) No income tax expense recognised yet in China operation as at the reporting date.

Page 18 of 24
Overall, excluding China operation, the Group’s profit before tax increased by $1.28 million or
52.3% from $2.44 million in 4Q16 to $3.72 million in 4Q17 and $4.65 million or 47.3% from $9.82
million in FY16 to $14.47 million in FY17, due mainly to an increase of 21.4% YoY in net revenue
compared to an increase of 18.0% YoY in total operating expenses in the quarter and an
increase of 21.2% YoY in net revenue compared to an increase of 12.9% YoY in total operating
expenses in the year.

Tax expense increased by $0.50 million from $0.76 million in FY16 to $1.26 million in FY17, due
mainly to an increase in taxable income from Singapore operation in the year. Tax expense
decreased by $0.22 million from $0.30 million in 4Q16 to $0.08 million in 4Q17, due mainly to
some deferred tax assets recognised by Hong Kong and Malaysia operations for some unused
tax losses as at 31 December 2017.

The China operation is still in the early stages of building iFAST brand and business in this new
market. The loss from China operation increased by 14.6% from $0.99 million in 4Q16 to $1.14
million in 4Q17 and 15.5% from $3.61 million in FY16 to $4.17 million in FY17. As at 31
December 2017, China operation has signed up more than 65 fund houses, with over 2,500
funds on its platform, and has also signed up with more than 30 B2B partners (including Internet
and financial services companies) in the market.

Including China operation and tax expense, the Group’s net profit after tax increased by $1.36
million or 118.5% from $1.15 million in 4Q16 to $2.51 million in 4Q17 and $3.59 million or 65.9%
from $5.45 million in FY16 to $9.04 million in FY17.

Statement of Financial Position

The shareholders’ equity of the Group increased to $81.24 million as at 31 December 2017 from
$78.45 million as at 31 December 2016. This was due mainly to contribution of net profit
generated and increases in share capital arising from share options exercised in FY17, and
partially offset by payments of dividends in the year.

The Group’s cash position (including cash at bank and in hand, money market fund and
investments in financial assets categorised as other investments under current assets) increased
to $55.91 million as at 31 December 2017 from $54.59 million as at 31 December 2016.

Current assets increased to $94.45 million as at 31 December 2017 from $80.42 million as at 31
December 2016, due mainly to increases in trade and other receivables as results of an increase
in trade receivables in line with the increase in revenue in the year and increases in uncompleted
contracts on securities dealing at end of the year.

Non-current assets increased to $22.28 million as at 31 December 2017 from $14.70 million as at
31 December 2016. The increase was mainly due to purchases of strategic investments of
minority stakes in an institutional business partner in China and a FA firm in Singapore amounting
to $3.8 million in 3Q17. The increase was also due to additions of plant and equipment and
intangible assets (including internally-developed IT software assets) in the year, and a goodwill
amounting to $0.36 million arising on an acquisition of an insurance broker firm in Hong Kong,
namely iFAST Insurance Brokers (HK) Limited (formerly known as Canadian Financial
Consultants Limited), in January 2017.

Total liabilities increased to $35.48 million as at 31 December 2017 from $16.53 million as at 31
December 2016. This was due mainly to an increase in tax payables and increases in trade and
other payables as a result of increases in uncompleted contracts on securities dealing and
securities investment at end of the year.

Page 19 of 24
 Consolidated Statement of Cash Flows

Net cash from operating activities increased from $1.21 million in 4Q16 to $5.13 million in 4Q17
and from $5.63 million in FY16 to $13.22 million in FY17, due mainly to higher operating profit
generated in the year and favourite changes in working capital at end of the period.

Net cash from investing activities was $4.22 million in 4Q17 compared to net cash of $1.49 million
used in investing activities in 4Q16 and net cash from investing activities was $5.18 million in
FY17 compared to net cash of $6.83 million used in investing activities in FY16. This was due
mainly to higher net proceeds from redemption of investment in financial assets net of payments
for reinvestment in financial assets and lower additional investment in associates in the year,
which was partially offset by higher additional purchase of plant and equipment and intangible
assets in the year.

Net cash used in financing activities decreased from $2.52 million in 4Q16 to $1.64 million in
4Q17, due mainly to no purchase of treasury shares in 4Q17. Net cash used in financial activities
increased from $5.83 million in FY16 to $6.62 million in FY17, which was due mainly to proceeds
of US$1.75 million (equivalent $2.41 million) from shares issued by China operation to non-
controlling interests in FY16 and higher dividend payout in FY17 and partially offset by lower
purchase of treasury shares in FY17.

9. Where a forecast, or a prospect statement, has been previously disclosed to

shareholders, any variance between it and the actual results.

No forecast or prospect statement was previously provided.

10. A commentary at the date of the announcement of the significant trends and
competitive conditions of the industry in which the group operates and any known
factors or events that may affect the group in the next reporting period and the
next 12 months.

We believe that the Group’s efforts of the last two to three years in broadening the range of
products and services that are available on its platforms are showing some initial results. The
Group now runs a more comprehensive wealth management platform that will help bring the
Group’s assets under administration (“AUA”) and overall business volume to the next level in the
years ahead.

The Group’s AUA has been growing, increasing 24% YoY to a record of S$ 7.58 billion at the end
of 2017. We believe that in the medium to long term, the Group still has a lot of room for growth
as the current AUA is still a small amount relative to the size of the wealth management industry
in Singapore and Asia.

Barring a major deterioration of the financial markets, we expect the Group’s business in the
existing key markets of Singapore, Hong Kong and Malaysia to show further improvement in
2018 compared to 2017.

China is still in its initial stages of building up, and China’s losses in 2018 is expected to be
comparable to 2017. In the years ahead, we expect China to be an important contributor to the
Group.

Also we expect the Company’s dividend per share for 2018 to be higher than the one for 2017.

Page 20 of 24
11. Dividend

(a) Current Financial Period Reported On

Any dividend declared for the current financial period reported on?

Name of dividend Final

Dividend type Cash
Dividend rate 0.90 cents per ordinary share
Tax rate One-tier tax exempt

(b) Corresponding Period of the Immediately Preceding Financial Year

Any dividend declared for the corresponding period of the immediately preceding
financial year?

Name of dividend Final

Dividend type Cash
Dividend rate 0.75 cents per ordinary share
Tax rate One-tier tax exempt

(c) Date payable

The proposed final dividend will be paid on 8 May 2018 subject to shareholders’ approval at the
forthcoming Annual General Meeting to be held on 18 April 2018.

(d) Books closure date

The Register of Members and Share Transfer Books of the Company will be closed on 27 April
2018 for the purpose of determining members’ entitlements to the proposed final dividend.
Accordingly, registrable transfers received by the Company’s Share Registrar, Tricor Barbinder
Share Registration Services (a business division of Tricor Singapore Pte Ltd) at 80 Robinson
Road, #02-00 Singapore 068898, up to 5.00 pm on 26 April 2018 will be registered to determine
members’ entitlement to the proposed final dividend. Members whose securities accounts with
The Central Depository (Pte) Limited are credited with ordinary shares in the capital of the
Company as at 5.00 p.m. on 26 April 2018 will be entitled to the proposed final dividend.

12. If no dividend has been declared/recommended, a statement to that effect.

Not applicable.

13. If the group has obtained a general mandate from shareholders for Interested
Person Transactions (“IPT”), the aggregate value of such transactions as
required under Rule 920(1)(a)(ii). If no IPT Mandate has been obtained, a
statement to that effect.

The Company does not have a general mandate from shareholders for interested person
transactions.

14. Confirmation that the issuer has procured undertakings from all its directors and
executive officers (in the format set out in Appendix 7.7) under Rule 720(1).

Page 21 of 24
 The Company has procured undertakings from all its directors and executive officers (in the
format set out in Appendix 7.7) under Rule 720(1).

15. Use of proceeds from the Company’s initial public offering.

Pursuant to the IPO on 11 December 2014, the Company received net proceeds of $48.0 million
from the issuance of the new shares (including over-allotment shares), after deducting for share
issuance expenses of $2.4 million and IPO-related expenses of $1.95 million. The following table
sets out our use of the net IPO proceeds up to 31 December 2017.

IPO proceeds
Allocation of IPO Balance of IPO
utilised as at 31
proceeds proceeds
December 2017
Use of net proceeds $' million $' million $' million
Mergers and acquisitions strategy 27.2 9.3 17.9
Expansion of our business in the Chinese market 7.0 6.8 0.2
Enhancement of our product capabilities, IT and services 8.0 8.0 -
(2)
Working capital purposes 5.8 5.8 -
(1)
Net Proceeds 48.0 29.9 18.1
Note:
(1) Estimated net IPO proceeds disclosed in the Prospectus dated 4 December 2014 was $44.6 million and the actual net IPO
proceeds received by the Company was $48.0 million.
(2) The amount of $5.8 million deployed for working capital purposes has been utilised for funding for new investment products
distribution business, such as bonds and stocks.

Pending the deployment of the remaining net proceeds as disclosed above, the balance of IPO
proceeds of $18.1 million has been used to invest in bonds, unit trusts and short term deposits as
stated in the Prospectus.

The Company will continue to make periodic announcements on the use of the proceeds as and
when the funds are materially disbursed.

Page 22 of 24
16. Segmented revenue and results for business segments or geographical
segments (of the group) in the form presented in the issuers’ most recent audited
financial statements, with comparative information for the immediately preceding
year.

Geographical segments Singapore Hong Kong Malaysia China Total

$'000 $'000 $'000 $'000 $'000

FY17
Revenue and expenses
Revenue from external customers 72,572 20,682 7,397 516 101,167
Inter-segment revenue 784 58 1,929 38 2,809
Total revenue 73,356 20,740 9,326 554 103,976

Finance income 591 9 120 20 740

Depreciation of plant and equipment (657) (172) (146) (394) (1,369)
Amortisation of intangible assets (2,502) (126) (36) (211) (2,875)
Reportable segment profit / (loss)
before tax 11,907 1,818 1,067 (4,381) 10,411
Share of results of associates (326) - - - (326)

Assets and liabilities

Reportable segment assets 82,928 21,546 5,080 5,564 115,118
Equity-accounted associates 1,616 - - - 1,616
Capital expenditure 6,640 138 285 403 7,466
Reportable segment liabilities 24,324 9,251 1,613 293 35,481

FY16
Revenue and expenses
Revenue from external customers 58,719 16,426 4,748 703 80,596
Inter-segment revenue 798 203 1,889 52 2,942
Total revenue 59,517 16,629 6,637 755 83,538

Finance income 717 19 87 15 838

Depreciation of plant and equipment (1,097) (128) (103) (250) (1,578)
Amortisation of intangible assets (1,268) (58) (28) (138) (1,492)
Reportable segment profit / (loss)
before tax 9,070 531 378 (3,727) 6,252
Share of results of associates (158) - - - (158)

Assets and liabilities

Reportable segment assets 73,011 13,673 3,392 3,223 93,299
Equity-accounted associate 1,829 - - - 1,829
Capital expenditure 5,550 429 244 391 6,614
Reportable segment liabilities 11,082 3,648 1,163 639 16,532

17. In the review of performance, the factors leading to any material changes in
contributions to turnover and earnings by the business or geographical
segments.

Please refer to Paragraph 8 for analysis by geographical segment.

Page 23 of 24
18. A breakdown of sales.

Group
FY17 FY16 Change
$'000 $'000 %
Revenue reported for first half year 46,755 38,046 22.9
Net revenue reported for first half year 23,121 19,036 21.5
Profit after tax before deducting non-controlling interests
reported for first half year 4,114 2,388 72.3

Revenue reported for second half year 54,412 42,550 27.9

Net revenue reported for second half year 26,324 21,656 21.6
Profit after tax before deducting non-controlling interests
reported for second half year 4,716 2,945 60.1

19. A breakdown of total annual dividend (in dollar value) for the issuer’s latest full
year and its previous full year.

FY17 FY16
$'000 $'000
Ordinary dividend 7,951 * 7,322

* Including the proposed final dividend for FY17 which is estimated based on total issued ordinary shares
(excluding treasury shares) of 264,672,618 at the end of the financial year.

20. Disclosure of person occupying a managerial position in the issuer or any of its
principal subsidiaries who is a relative of a director or chief executive officer or
substantial shareholder of the issuer pursuant to Rule 704(13) in the format
below. If there are no such persons, the issuer must make an appropriate
negative statement.

Family relationship with any Details of changes in duties

director and/or substantial Current position and duties, and and position held, if any,
Name Age shareholder the year the position was held during the year

He was General Manager of

Platform Services Singapore since
2006 and promoted to Managing
Director of Platform Services
Singapore on 17 Feb 2016, and has
been appointed as a Director of
iFAST Financial Pte Ltd, a subsidiary
of the Company, from 22 March
2016.
Being responsible for platform
services of the Group's Singapore
operation as well as overseeing the
Brother of Lim Wee Kian, a overall performance of the whole
Lim Wee Kiong 45 director of the Company Singapore operation. Nil

BY ORDER OF THE BOARD

Leung Fung Yat, David

Chief Financial Officer
14 February 2018

Page 24 of 24