Popular platform: Sea forecasts 2021 revenue at Shopee of US$4.5bil to US$4.7bil,
up from US$2.2bill in 2020. Reuters
SINGAPORE: Sea Ltd expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as South-East Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.
Revenue rose to US$1.6bil in the last three months of 2020 from US$777.2mil a year earlier, Singapore-based Sea said in a statement. Net loss widened to US$523.6mil from US$283.8mil.
Sea, backed by Tencent Holdings Ltd, has emerged as a stock-market sensation since its initial public offering in New York in 2017, as investors bet the company can establish itself as a leader in e-commerce and gaming in South–East Asia.
Shopee parent Sea s sales double as Asian shoppers go online in pandemic thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Indonesia s financial watchdog is set to outline by the middle of this year how digital banks should operate in the country, one of its top officials told The Straits Times. We won t regulate details, nor will it be rules-based, said Mr Anung Herlianto, executive director of banking research and regulation at the country s Financial Services Authority (OJK). It will instead be a set of guiding principles for banks to operate digitally, and banks have to mitigate their own risk, any risk, that may arise.
Digital banking is expected to provide a boost to South-east Asia s largest economy as it will cater to the unbanked who comprise up to one-third of the population of 270 million.