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2024-12-05 13:33:51

Consistent Q3 2024 momentum positions Malaysia’s Carsome for first full profitable year
Malaysia-headquartered Carsome Group, Southeast Asia’s largest integrated car e-commerce platform, continues to deliver record profitability, with adjusted EBITDA increasing over 3x quarter-on-quarter (QoQ). Ancillary income for the group rose by 26 percent, bringing overall gross margins to over 10 percent, the company said in a statement on Wednesday. The group reported over $305...

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2024-11-26 13:06:51

E-ConomySEA 2024 report: Malaysia’s digital economy to hit $31B in 2024
Malaysia’s digital economy is poised to reach $31 billion in gross merchandise value (GMV) in 2024, an increase of 16% from 2023 according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company. The trio said in a statement that Malaysia’s digital economy has progressed towards profitability while maintaining double-digit growth for GMV. They noted...

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2024-11-18 16:09:53

JD.com’s Q3: Strong profits and growth fail to buoy investor confidence
Improved margins and a rebound in sales lifted JD.com’s Q3 profits, but market skepticism lingered over future growth. JD.com’s Q3 2024 earnings report, released November 14 after the Hong Kong stock market closed, painted a picture of steady financial growth and operational resilience. The e-commerce giant reported operating revenue of RMB 260.4 billion (USD 36.5 billion), a 5.1%...

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2024-12-03 12:30:55

Meituan beats expectations with strong Q3 results and quick commerce gains
The Chinese delivery giant outperformed forecasts after making headway in quick commerce. Earnings season is winding down, closing on a high note with Meituan surpassing revenue and profit expectations for the third quarter. The company reported a 22% year-on-year (YoY) revenue increase to RMB 93.6 billion (USD 13.1 billion) and a 124% YoY jump in adjusted net profit to RMB 12.83 billion (USD...

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2024-11-13 15:31:17

Singapore’s Sea revenue up 30.8 pct on year in third quarter
Singapore’s consumer internet firm Sea announced Tuesday that its total revenue rose 30.8 percent year on year to $4.3 billion in the third quarter ended September 30, 2024, underpinned by higher e-commerce growth. The firm said in a statement that its total gross profit for the quarter was $1.9 billion, also up 29.1 percent year-on-year. Its total net income was $153.3 million, as...

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2024-11-30 08:21:01

Teleport’s revenue rises in third quarter on higher delivery parcels moved
Capital A’s logistics arm Teleport has reported higher revenue in the third quarter amid higher tonnage and delivery parcels moved. Capital A said in a statement on Thursday that Teleport’s revenue increased 52 percent year on year to MYR 287 million ($61.4 million), driven mainly by a 31 percent year on year increase in tonnage as well as a 113 percent growth year on year on...

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2024-12-18 13:55:38

TikTok Shop dominates Black Friday, but will regulatory hurdles stall its advance?
The platform proved its e-commerce mettle during the festive period but risks hitting a roadblock from looming regulatory challenges. As snow blankets the streets of New York City, adorned with festive Christmas decorations in hues of red and green, the holiday shopping season is in full swing. The period between Thanksgiving and Christmas has long been synonymous with major sales events like...

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2024-11-30 08:13:59

US e-commerce giant Amazon invested over $1.49B in Singapore
US-headquartered e-commerce giant Amazon announced on Thursday that it has invested more than S$2 billion ($1.49 billion) across its retail and cloud businesses in Singapore in 2023. This includes both capital expenditure such as improvements to existing infrastructures, including fulfilment centers, delivery stations, and data centers, and operating expenditure towards technology, safety,...

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2024-12-09 03:55:41

Vietnam’s Kamereo secures $7.8M Series B funding to accelerate growth
Kamereo International, which operates a business to business (B2B) food supply e-commerce platform in Vietnam, has raised $7.8 million in its Series B funding round. The firm said in a statement on Monday that the funding was raised from Sumitomo Corporation, Inspire, SMBC Venture Capital, Mitsubishi UFJ Capital, Reazon Holdings, INC, and other individual investors. With this latest funding...

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