|Bid||41.52 x 1000|
|Ask||42.25 x 900|
|Day's range||40.41 - 44.39|
|52-week range||21.90 - 52.77|
|Beta (5Y monthly)||1.26|
|PE ratio (TTM)||N/A|
|Earnings date||02 Mar 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||56.83|
(Bloomberg) -- Singapore financial-technology firm MatchMove has teamed up with homegrown finance company Singapura Finance Ltd. and two others to apply for a digital banking license in the city-state.The MatchMove-led consortium is the latest group to announce it’s submitted an application for a digital full banking license to the Monetary Authority of Singapore. That sets the firm against heavyweights including Sea Ltd., which is backed by Tencent Holdings Ltd., and the Grab Holdings Inc.-Singapore Telecommunications Ltd. consortium.Efforts to open up the Singapore banking industry to technology companies come on the heels of a similar move in Hong Kong, where units of Ant Financial and other Chinese firms including Tencent obtained licenses.Singapore plans to issue as many as two digital full-bank licenses, which will enable successful applicants to serve retail as well as corporate clients. Candidates will need to meet requirements including paid-up capital of S$1.5 billion ($1 billion), and winners are scheduled to be decided in the middle of the year.According to Chief Executive Officer Shailesh Naik, MatchMove stands out because of its experience building bank-like capabilities for corporate clients in industries ranging from agriculture to shipping and aviation. For example, it works with Singapore shipping company Marine Innovation to make it easier for its sailors to send money home.“In many ways, we are already acting like a digital bank,” Naik, who is also the founder, said in an interview. “We want to leverage our existing capabilities to reach underserved segments” like small companies and gig-economy workers, he added.The other consortium partners are Lightnet, a Bangkok-based blockchain venture, and London-based fintech startup OpenPayd. Lightnet was co-founded by Chatchaval Jiaravanon, whose family runs the Charoen Pokphand Group, one of Thailand’s largest conglomerates.Payments PivotNaik founded MatchMove with Leow Hsueh Huah in 2009 as a games and entertainment business that gives joy to consumers. It pivoted into a payments company in 2016, operating a digital wallet that allows businesses to make payments online and offline via prepaid cards. Valued at $305 million, the company now has 70 corporate clients and the CEO expects to have access to 1 million people in Singapore through partners by the end of the year.Singapura Finance, which holds about 1.6% of MatchMove shares, provides loans to individuals and companies, along with deposit services.Other backers of MatchMove include Vickers Venture Partners and NTT Docomo Ventures Inc. Separately, Naik said his company is currently raising $150 million for expansion into new markets including Europe.“We started out with a simple idea of giving a few minutes of fun every day with endorphin content,” Naik said. “We later realized that even for a few minutes of entertainment, people were having difficulty making payments because they didn’t have bank accounts. So we broadened the service.”(Updates with fundraising plans and other details from eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But one can do...
The markets halted trading for the second time this week after the major indexes fell over 7% in the first 10 minutes, and exhibited the worst 1-day loss since the flash crash in 1987
Sea's (SE) fourth-quarter 2019 results benefit from strong growth in its digital entertainment and e-commerce segments, amid increasing operational costs.
Sea Limited (NYSE: SE) ("Sea" or the "Company") today announced its financial results for the fourth quarter and full year ended December 31, 2019.
Sea Limited's (SE) fourth-quarter results are likely to benefit from strong growth in its digital entertainment and e-commerce segments, amid increasing operational costs.
Sea Limited Sponsored ADR (SE) closed the most recent trading day at $46.42, moving -0.6% from the previous trading session.
(Bloomberg) -- “Sonic the Hedgehog 3” had just been released and Keanu Reeves was about to hit the big screen in “Speed” when Marcin Iwinski and high school pal Michal Kicinski launched their video-game company.It was May 1994 and the CD-ROM was still in vogue, so they called their venture CD Projekt and set out to distribute games for the Polish market. They struck deals with developers including Activision and Acclaim Entertainment, translating dialog, instructions and packaging into their native language.A quarter-century later, at Microsoft Corp.’s 2019 Xbox conference in Los Angeles, Reeves shocked the video-game world, appearing onstage to present a demo of CD Projekt’s “Cyberpunk 2077” -- a futuristic, role-playing game in which he’ll appear.Shares of Warsaw-based CD Projekt have surged 43% since the Xbox event in June and more than 1,800% in the past five years, the best performance by far in Poland’s WIG20 Index, putting Iwinski, the 45-year-old co-chief executive officer, on the cusp of becoming a billionaire. He owns 12.6% of the outstanding stock, giving him a net worth of $992 million. Kicinski, who left the company several years ago, has a 10.9% stake worth $847 million.Both could soon join the rapidly growing ranks of video-game billionaires including Sea Ltd. co-founder Gang Ye, who crossed the threshold in November after the Singapore-based company reported that quarterly revenue tripled, as well as Epic Games Inc. founder Tim Sweeney, who brought “Fortnite” to the masses.See also: Fortnite billionaire pledges $100 million for game developersIn its infancy, CD Projekt struggled to make money distributing legal copies of games because Poles preferred to buy cheaper pirated versions on the black market. So Iwinski and Kicinski expanded into e-commerce sales and programming and established the CD Projekt RED gaming studio.In 2007, it introduced “Witcher” -- based on Andrzej Sapkowski’s fantasy novels -- and turned it into a series of games that draws from Slavic mythology and features a lone medieval warrior, surrounded by strong female characters, battling supernatural beasts. The most recent version, “Witcher 3,” sold tens of millions of copies and brought the studio global acclaim. Netflix recently launched “The Witcher” TV series, and its popularity could further boost game sales.What Our Analysts Say:“CD Projekt is expanding its online game-distribution business and increasing free-to-play titles ahead of promising new releases that will drive EPS growth in 2020 and beyond. Poland’s largest video-game maker is investing in a new first-person, role-playing game, Cyberpunk 2077, that should exceed the lofty heights achieved with Witcher 3.”Matthew Kanterman, Bloomberg IntelligenceSince the launch of ‘Witcher 3’ in 2015, the developer hasn’t released any major game that could drive new sales apart from add-ons or spinoffs from the existing franchise. In contrast with the industry’s giants which have diversified portfolios and a steady stream of new releases, CD Projekt is betting big on a single title.Cyberpunk’s highly anticipated April debut was pushed back to September for its 400 programmers and designers to “test, bug-fix and polish” the company’s next flagship product, according to a Jan. 16 regulatory filing that caused a fleeting drop in CD Projekt’s stock.Cyberpunk is intended to be one of the most technologically advanced productions for current gaming consoles.Ken Rumph, an analyst at Jefferies Financial Group Inc., has said the delay probably won’t inflict lasting damage on the company’s fortunes.“I don’t think it stops Cyberpunk from being the hit of the year,” he told Bloomberg last month.To contact the reporters on this story: Alex Sazonov in Moscow at email@example.com;Konrad Krasuski in Warsaw at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Peter Eichenbaum, David ScheerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Sea Limited Sponsored ADR (SE) closed at $45.72 in the latest trading session, marking a -0.2% move from the prior day.
Sea Limited (NYSE: SE) ("Sea" or the "Company") plans to announce its fourth quarter and full year 2019 results before the U.S. market opens on March 3, 2020, U.S. Eastern Time (March 3, 2020, Singapore / Hong Kong Time).
(Bloomberg) -- Singapore’s Sea Ltd., Asia’s best-performing internet stock in 2019, is seeking a full digital banking license in Singapore, becoming the first declared sole applicant for that category.New York-listed Sea’s digital bank would focus on addressing the unmet needs of millennials and small businesses through technology, the company said in a statement. The Monetary Authority of Singapore said Tuesday that 21 groups made bids for the digital licenses, including seven for full digital banking licenses. Fourteen were for wholesale permits.MAS unveiled plans last year to grant as many as five virtual bank licenses to boost competition and innovation, and is set to announce the winners in June. Efforts to open up the Singapore banking industry to technology companies come on the heels of a similar move in Hong Kong, where units of Ant Financial and other Chinese firms including Tencent Holdings Ltd. obtained licenses. Ant has applied for a Singapore wholesale digital banking license.Southeast Asia’s digital lending market is expected to more than quadruple to $110 billion by 2025, according to a report by Bain & Co., Google and Temasek Holdings Pte.The two main operating divisions of Sea, which counts Tencent as its largest outside shareholder, are Shopee, a popular online shopping platform in Southeast Asia and Taiwan, and gaming arm Garena. Shopee’s users include SME and millennial consumers. Sea also has a digital financial services arm, SeaMoney.“Through Garena, Shopee, and SeaMoney, we have unrivaled insight into the needs and wants of millennials and SMEs across the region,” said Forrest Li, Sea’s chief executive officer. “We have also developed exceptional capabilities in addressing these unmet needs, and have the technology, infrastructure, data analytics capabilities, and management experience to design and scale Singapore’s first full digital bank.”The full digital banks will require total capital of S$1.5 billion ($1.1 billion) and must be controlled by Singaporeans. They will be allowed to provide a range of financial services as well as take deposits from retail customers. The MAS plans to award as many as two such permits.Earlier this month, gaming company Razer Inc. said it had teamed up with homegrown Singaporean entrepreneurs and Asian billionaires to apply for a full banking license. The Razer-led group also targets younger users. Other bidders include the Grab Holdings Inc.-Singapore Telecommunications Ltd. group and Beyond Consortium, which is led by one of Asia’s largest massage chair makers, V3 Group Ltd. and stored-value card company EZ-Link Pte.One of Sea’s key advantages over the other known applicants is its potential to tap its sizable user base across gaming and e-commerce to become customers of its digital bank, said Vey-Sern Ling, a senior analyst at Bloomberg Intelligence.“These are young, generally tech savvy, and many have established paying-relationships with Sea,” Ling said. “Shopee’s leading position in regional e-commerce will likewise provide multiple business cases for Sea’s digital bank.”In 2019, Sea went on to outperform all other major Asian internet stocks with a gain of 255%, its best year since going public in New York in 2017. Investors are optimistic about the company’s revenue outlook. Sea’s stock closed at an all-time high of $40.49 on Friday.(Updates with an analyst comment and a stock chart from ninth paragraph.)\--With assistance from Chanyaporn Chanjaroen.To contact the reporter on this story: Yoolim Lee in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum Murphy, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
(Bloomberg) -- Alpha JWC Ventures, an Indonesian firm co-founded by a former banker turned venture capitalist, has closed its second fund at $123 million.This is a record for an Indonesia-focused early-stage venture capital fund, underscoring growing investor interest in fostering a new generation of startups in a country that gave birth to internet giants like Gojek and Tokopedia.The Jakarta-based VC firm launched its debut, $50 million fund in 2016, which backed 23 early-stage startups mostly in Indonesia. They include automotive online marketplace Carro, peer-to-peer lending company Funding Societies, and Kredivo, a digital lending platform in Indonesia. Net asset value of that fund has increased 3.2 times, according to the company.Through its second fund, Alpha JWC has already backed 14 startups, including Kopi Kenangan, a popular grab-and-go coffee chain in Indonesia.“We are on the ground and get the earliest information about deals,” said Chandra Tjan, managing partner of Alpha JWC who co-founded the firm with partners Jefrey Joe and Will Ongkowidjaja. “The digital landscape and trends in Indonesia have changed in the past year, and we have to be more active yet cautious.”Daniel Lin, chief executive officer of FundedHere Pte, a crowd-funding platform that introduces entrepreneurs to investors, said that while the earliest VCs have invested in Indonesia since 2010, it’s only been recently that startups in the country have begun to adopt technology in a significant way to reach a wider audience. “Including Indonesian startups at the seed and Series A stages will be critical to the success of the startup portfolio,” said Lin.Prior to starting the company, former Credit Suisse and Citigroup Inc. banker Tjan had co-founded and served as managing partner of East Ventures, which has become the most active VC firm in Indonesia. In 2019, East Ventures closed its sixth fund at $75 million and launched a $200 million growth fund together with Indonesian conglomerate Sinar Mas and an arm of Yahoo Japan Corp.This year, Alpha JWC has bolstered its team by promoting Erika Dianasari to a partner from principal and added two new partners: Alan Hellawell, former chief strategy officer of Sea Ltd., and Eko Kurniadi, former vice president of investment at private equity firm Creador. Ongkowidjaja has stepped down as managing partner to start his own company, Honestbank, though he will remain as a founding partner of Alpha JWC, according to Tjan.To contact the reporter on this story: Yoolim Lee in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Singapore’s newest billionaire is a former government employee who rode mobile sensation Free Fire into the ranks of the ultra-wealthy this week.The battle royale or fight-to-the-death title distributed by Sea Ltd. ranked among the five most downloaded games on the Apple and Google app stores for three straight quarters this year and has amassed $1 billion in adjusted revenue since launching in 2017. That propelled a tripling in Sea’s market value and the fortune of co-founder Gang Ye, a Carnegie Mellon University alum who’s worked for Wilmar International Ltd. and Singapore’s Economic Development Board.The 39-year-old joins fellow co-founder Forrest Li, whose larger stake in the fast-growing games-to-shopping company earned him a ten-digit fortune earlier this year. Ye, who moved to Singapore from China in the 1990s as a teenager and became a citizen shortly after his return from the U.S., has served as Sea’s chief operating officer since 2017.The executive holds an 8.4% stake in the company and is worth $1 billion, according to the Bloomberg Billionaires Index. A company representative declined to comment on his net worth.Read more: Singapore’s Sea Surges Most in Six Months After Hiking OutlookShares in the company, which is part-owned by Chinese social media titan Tencent Holdings Ltd., reached a record on Wednesday after Sea reported a tripling in revenue to $610.1 million in the third quarter. The shares have risen 234% this year.Read more: The Tencent of Southeast Asia Isn’t Really Like Tencent at AllWhile gaming is Sea’s biggest business, e-commerce platform Shopee is also growing fast. The segment’s revenue more than tripled in the quarter, helping narrow net losses to $206 million. Sea’s dependence on the success of “just a few game titles” was listed as one of its business risks in a 2018 annual report.Shopee, whose television and online ads feature Juventus soccer star Cristiano Ronaldo, topped the mobile shopping category in Southeast Asia by monthly active users and downloads in the third quarter, according to researcher Iprice Group. While an influx of e-commerce giants from Alibaba Group Holding Ltd. to Amazon.com Inc. onto Sea’s turf has sparked concerns over its growth, the company has a “firm lead in the region that’s tough to break,” Bloomberg Intelligence analyst Matthew Kanterman wrote in November.Ye and Li are the latest billionaires to emerge from the gaming scene. Tim Sweeney, founder of Fortnite maker Epic Games, has a $7.2 billion fortune while Gabe Newell -- whose Valve Corp. operates the Steam platform -- has a net worth of $5.7 billion, according to Bloomberg’s ranking.(Updates with Sea’s share performance in the fifth paragraph)\--With assistance from Tom Metcalf and Pei Yi Mak.To contact the reporters on this story: Yoojung Lee in Singapore at firstname.lastname@example.org;Yoolim Lee in Singapore at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.