Donghai surpasses DBS to reclaim the title of the highest market value listed company in Southeast Asia

Sea Ltd has surpassed DBS Group Holdings to become the most valuable publicly listed company in Southeast Asia. Sea's performance this month exceeded expectations, alleviating market concerns about its e-commerce platform Shopee. Sea's stock price has risen over 400% since the beginning of last year, with a market capitalization exceeding USD 111 billion, while DBS Group's market capitalization stands at SGD 142 billion. With the increase in online shopping among consumers, Sea's sales have reached a record high, demonstrating its competitiveness in the market

Singapore's Sea Ltd has surpassed DBS Group Holdings to become the most valuable publicly listed company in Southeast Asia.

Sea's performance this month exceeded market expectations, further alleviating concerns about the outlook for its largest business, the e-commerce platform Shopee. The US-listed Sea's stock price has soared over 400% from its low point at the beginning of last year, closing at $187.55 on Monday (August 25), with a market capitalization exceeding $111 billion (SGD 142.7 billion).

Southeast Asia's largest banking group, DBS, saw its stock price drop 0.62% on Tuesday (August 26) in the Singapore stock market, closing at SGD 50.02, with a market capitalization of SGD 142 billion (USD 110.5 billion), relinquishing the champion title to Sea.

Bloomberg reported on Tuesday that the e-commerce platform Shopee has solidified its leadership position in Southeast Asia. An increasing number of consumers in the region are choosing to shop online for a variety of goods, from iPhones to everyday groceries. In August, Sea reported record sales that exceeded expectations, indicating that it has successfully withstood the impact of strong competitors like TikTok, owned by ByteDance, and Lazada, owned by Alibaba Group. As investor confidence in Sea's strength in the regional market grows, its stock price has more than quadrupled since the beginning of last year.

Years of continued investment in online services and delivery have allowed Sea to maintain strong appeal in the Southeast Asian market, despite emerging competitors like TikTok, Lazada, and Temu entering this region with over 675 million people. At the same time, a decisive cost-cutting plan has also helped Chairman and CEO Li Xiaodong lead the company towards profitability Donghai is also betting on new businesses such as digital finance to persuade investors to be optimistic about its long-term profit potential. Its little-known logistics business, SPX Express, is a key secret weapon. This business is made up of a group of housewives, students, and retirees who regularly provide delivery services in markets such as Singapore.

Meanwhile, DBS's stock price has risen more than 60% since the beginning of last year, reaching an all-time high. After strong profit growth driven by its lending and wealth management businesses, this largest bank in Singapore has committed to returning billions of dollars to investors through increased dividends and stock buybacks

Donghai surpasses DBS to reclaim the title of the highest market value listed company in Southeast Asia | Lianhe Zaobao

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