The Business Times
business-time-50
SUBSCRIBERS

TikTok-GoTo partnership takes away Indonesian group’s burden, pressures Sea: analysts

google-preferred-sourceAdd BT as a preferred source
Mia Pei

Mia Pei

Published Tue, Dec 12, 2023 · 12:17 PM
    • Sea is likely to register lower earnings as Shopee is expected to suffer greater losses in the intensified e-commerce competition.
    • Sea is likely to register lower earnings as Shopee is expected to suffer greater losses in the intensified e-commerce competition. PHOTO: REUTERS

    THE partnership between TikTok and GoTo will hurt Sea’s margin, but relieve the Indonesian tech giant’s cash-burning burden, said analysts on Monday (Dec 11).

    DBS Group Research has slashed the target price for Shopee owner Sea to US$42 from US$62 with a downgrade to “hold” from “buy”.

    This was following the deal announcement, as the research house expects Shopee to suffer greater losses amid heightened competition in e-commerce space.

    TikTokGoTo GroupSea LtdShopee

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain. 

    LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More