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Top related persons:
Forrest Li - 1 Li - 1 Sea's - 1 Shopee - 1
Top related locs:
MariBank Singapore Sea's New York Southeast Asia Indonesia
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Alibaba - 1

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☆ Singapore's Sea Limited posts first profitable year amid efforts to defend market share against Lazada, TikTok
  + stars: | 2024-03-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com   time to read: +2 min
Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba -owned Lazada and TikTok. Net income in 2023 was $162.7 million, as compared to a net loss of $1.7 billion in 2022. Sea's e-commerce arm Shopee made a "meaningful gain in market share" in 2023 despite "intensified competition in Southeast Asia," the firm said on Monday. Sea also said Shopee's market share in the region has "solidified" and the firm intends to "maintain our market share in 2024." Tokopedia merged with TikTok Shop in Indonesia to form an enlarged Tokopedia entity, in which TikTok will take a controlling stake of 75.01%.
Persons: Forrest Li, Li, Sea's, Shopee Organizations: Alibaba Locations: MariBank, Singapore, Sea's New York, Southeast Asia, Indonesia
☆ Sea Group's digital bank launches in Singapore to a select group of individuals
  + stars: | 2023-03-15 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
MariBank, Singapore tech giant Sea Group's digital bank, has launched in Singapore to select members of the public as it rolls out its services progressively. Singapore tech giant Sea Group has launched its digital banking services to select members of the public. "We are rolling out our services progressively on an invite-only basis," MariBank said on its new website that was launched on Tuesday. It is the latest online lender to join a slew of others in Singapore since the city-state issued four digital bank licenses in December 2020. MariBank has been rolling out its services progressively the third quarter of 2022, and was previously only available to employees of Sea Group.
☆ Singapore's digital banks dangle incentives to win new customers — is it sustainable?
  + stars: | 2023-02-21 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +7 min
Singapore's new digital retail banks are offering lower fees, more incentives and waiving minimum account balances to win over customers from traditional banks. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Digital retail banks in Singapore are pulling out all stops to win new customers. Unlike traditional banks — like DBS , OCBC and UOB — which operate physical branches and automated teller machines, digital banks operate entirely online. Singapore's new digital banksThe city-state gave out four digital bank licenses in December 2020. The other two digital wholesale bank licenses were bagged by Ant Group's ANEXT Bank and Green Link Digital Bank, catering to small-and-medium enterprises and other non-retail segments.
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