Breakingviews - Breakingviews - India app ban inflames Sea’s top fire
A person walks in front of a signage of Shopee, the e-commerce arm of Southeast Asia's Sea Ltd, at their office in Singapore, March 5, 2021. REUTERS/Edgar Su - RC2X4M9XEO9Von Monday, roughly 18% of its market value, following a Bloomberg report, citing unnamed sources, noting an Indian ban on its popular mobile hit “Free Fire". Official details are pending, but the move looks to be part of a fresh clampdown on apps seen as having Chinese origin.
Sea might have grounds for appeal: shareholders yesterday approved the company's proposals that would boost founder Forrest Li's voting power to 60%, while reducing Tencent's voting stake from roughly 23% last March to less than 10% by converting its super-voting stock into ordinary shares. Diluting the Chinese titan's control could appease the Indian government.
But investor overreaction spotlights Sea’s bigger problem. Analysts at Morgan Stanley reckon Free Fire in India generated just a tenth of the company’s total video-games sales last year, roughly $475 million. So the direct hit to Sea’s estimated 2021 top line might be just 5%, per Refinitiv. The sharper selloff dragging Sea shares 65% below last year’s peak suggests broader concerns about Free Fire, the company’s cash cow, and its future growth prospects.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
In India, comedians can face arrest for making the wrong kind of jokesWhile comedy can be polarizing all over the world, in India telling jokes about Hinduism or being associated with someone who insults the majority faith can be enough to prompt legal action.
続きを読む »
Why India Isn’t Buying NFTs (Yet)Interviews with Indian NFT platforms reveal a mismatch of NFT supply and demand. While many Indian artists, Bollywood celebrities and sports stars have launched NFTs, there's a lack of collectors to buy the offerings, says tanvi_ratna. Opinion NFTs
続きを読む »
Samsung ships Snapdragon-powered Galaxy S22 units to IndiaConsumers in India looking to purchase one of the new Galaxy S22 series handsets might be surprised to find that they are powered by a Snapdragon chipset.
続きを読む »
India cuts tax on crude palm oil imports to help consumers, refinersIndia has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world's biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers.
続きを読む »
India: RBI kept the steady hand amidst a dovish tilt – UOBEconomist at UOB Group Barnabas Gan assesses the latest monetary policy meeting by the RBI. Key Takeaways “The Reserve Bank of India (RBI) kept its po
続きを読む »
Turkish Airlines' former chairman to head Air IndiaA former Turkish Airlines boss, who oversaw extensive cost-cutting, Ilker Ayci, has been named the new head of loss-making and newly privatised Air India
続きを読む »