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

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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

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