Sea Limited/ SEA Buy @ $155 MV: $50.6bn Next figures: 18 November No of times recommended: 4 Price when first recommended: $79.80
Sea Limited (I'm guessing the name stands for South East Asia) is an incredibly fast-growing Internet business, quoted on Nasdaq but based in Singapore and with its principle operations in Greater South East Asia (GSEA), which embraces Indonesia, Taiwan, Vietnam, Thailand, The Philippines, Malaysia and Singapore. In 2017, at the time the company floated these countries had some 585m people and around US$3 trillion in nominal GDP.
Sea Limited has three businesses, Garena for online video games, Shoppee, an e-commerce platform and Sea Money for digital payments. The company was founded in 2009, near the dawn of the Internet era in GSEA and has used its early start to become the number one player in the area with each of its three businesses.
The business was growing fast even before the Coronavirus lockdowns and growth has since accelerated. Based on the forecasts in the table below group sales are forecast to rise roughly 20-fold between 2017 and 2022.
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