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Indonesian Travel Startup Tiket Weighs SPAC Merger This Year
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Southeast Asia Tech Race: GoTo Goes Head-to-head with Grab
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The Straits Times
PublishedMay 13, 2021, 5:00 am SGT
https://str.sg/JvJq
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Singapore-based Sea is to be included in the MSCI Singapore Index while Suntec Real Estate Investment Trust (Suntec Reit) will be dropped.
(Repeats story from March 23; no changes to text)
SINGAPORE, March 23 (Reuters) - In front of an open-air Jakarta restaurant, delivery drivers clad in the orange colours of Southeast Asia tech group Sea Ltd wait for orders next to the green-jacketed riders of market leaders Gojek and Grab, in what has become the latest battleground for tech supremacy in Southeast Asia.
The humble noodles eatery signed up for Sea’s nascent ShopeeFood service a month ago, but “immediately, there were orders everyday,” said manager M.A Rasyid.
Riding on the success of a cash-generating gaming business, U.S.-listed Sea has invested heavily in its Shopee e-commerce brand and successfully taken on Alibaba’s Lazada and other rivals in recent years. Its share price has risen five-fold over the past year, giving Singapore-based Sea a market value of $111 billion.
Indonesia s J&T Express weighing US$1bil-plus IPO
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