Sea lost the title of the biggest company in Southeast Asia to an Indonesian bank

Sea lost the title of the biggest company in Southeast Asia to an Indonesian bank

After its shares fell to an 18-month low, Sea Ltd. lost its position as Southeast Asia's largest publicly listed corporation.

After its American depositary receipts fell to US$120.52 on Wednesday in New York, the Singapore-based online corporation was surpassed by Indonesian lender PT Bank Central Asia. Its market value has dropped from a high of US$202.6 billion in October to US$66.9 billion today. Bank Central Asia has a market capitalization of US$68.5 billion, whereas Singapore's DBS Group Holdings Ltd. has a market capitalization of US$66.1 billion.

Sea went public in 2017 and swiftly became the most valuable business in Southeast Asia, igniting a discussion on Wall Street over whether the gaming, e-commerce, and financial services giant is the next great internet titan or just Exhibit A in a global tech bubble doomed to explode.

Keterangan Gambar (© Pemilik Gambar)

Last week, India unexpectedly banned its most popular mobile game application, causing the company's worth to plummet by more than US$16 billion. Investors are fearful that the ban is just the beginning of Sea's problems.

According to Bloomberg statistics, Franklin Dynatech Fund and Blackrock Capital Appreciation Fund Inc. were among asset managers that reduced their positions in Sea in January.

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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