iFAST Corporation Ltd. (SGX:AIY) entered into an agreement to acquire Winfield Securities Limited from Heng Kwai Shan and Chung Wai Mun for HKD 14.7 million on June 10, 2015. iFAST has paid HKD 0.5 million upon the signing of the agreement as deposit and part payment of the purchase consideration. The purchase consideration is the total of HKD 4.7 million and the adjusted unaudited net asset value of Winfield Securities based on the updated management accounts at completion date. The acquisition will be financed through initial public offering of HKD 178.53 million (SGD 31.16 million). The acquisition is subject to certain statutory conditions and approval from the Securities & Futures Commission of Hong Kong. The transaction is not expected to have any material impact on the Group's earnings per share or net tangible assets per share for the financial year ending December 31, 2015. The currency conversion has been done through www.oanda.com as of June 10, 2015.

Securities and Futures Commission of Hong Kong approved the transaction on December 2, 2015.

iFAST Corporation Ltd. (SGX:AIY) completed the acquisition of Winfield Securities Limited from Heng Kwai Shan and Chung Wai Mun for HKD 15.8 million on January 6, 2016.