He writes in his Sept 10 report: “Our Asean survey shows limited volume impact, as only 13% of consumers cut spending, as most view online as cheaper, and two-thirds of sellers are neutral/positive on fee hikes.”
Hussaini Saifee of Maybank Securities is keeping “buy” on Sea Limited (Sea) at a raised target price to US$238 ($305.43) from US$205 after the group’s e-commerce arm, Shopee, raised its commissions by around 1 percentage points (ppts) to 1.5 ppts with “minimal pushback”, amid other drivers.
The raise, conducted over the past two to three months, is the platform’s second major increase in 12 months. This, Saifee notes, mirrors TikTok Shop and Lazada, signalling a “rationalisation of competition”.
