He added that TikTok’s own digital payment system and logistical support could harm local businesses.
DBS Group Research and Maybank Securities are keeping their “buy” calls on Sea Limited after the Indonesian government was reported to be seeking to ban TikTok Shop in the country. The team at DBS has kept its target price of US$66 ($90.05) unchanged while Maybank's target price of US$80 remained the same as well.
"India and the United States have banned TikTok from simultaneously operating its social media and e-commerce businesses, while in Indonesia, TikTok is currently free to do both," said Indonesia’s corporative and SME minister, Teten Masduki in a Sept 6 article in the Jakarta Globe.
