Dear reader,

Sea Limited’s latest financial results paint a picture of strong growth and profitability, but a closer look reveals a more complex story.

Shopee’s GMV surpassed US$100 billion, yet its Q4 growth rate lagged behind the full-year average—potentially signalling a slowdown.

Meanwhile, SeaMoney is expanding aggressively, but soaring marketing expenses and rising credit risks could impact margins. Even Garena, with a resurgence in bookings, is struggling to drive higher user spending.

As Sea positions itself for sustained growth, its ability to balance expansion with financial discipline will be critical.

Investors and industry watchers will be keeping a close eye on how the company navigates these challenges in the months ahead.

Sainul,
Editor.
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NEWS & VIEWS

Sea Limited’s 2024 results: A deep dive beyond the headlines
While Sea’s Q4 and full-year 2024 results present a picture of growth and profitability, a detailed analysis reveals potential challenges and strategic shifts.

Airwallex acquires Vietnam-based CTIN Pay
The deal aims to strengthen Airwallex’s licensing footprint across key Asia-Pacific markets, including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan.

Malaysian proptech firm LiveIn acquires RedDoorz’s rental brand
KoolKost is a long-term accommodation brand in Indonesia that serves long-term travellers, students, and workers with budget-friendly accommodations | The acquisition includes 27 properties across six cities.

Oyo sets US$126.5M profit for FY26 after G6 Hospitality deal
G6 Hospitality operates Motel 6 and Studio 6 in the US | The company estimates G6 Hospitality will contribute US$72.46M to its EBITDA, helping raise Oyo’s combined EBITDA to US$230M.

SmartSolar lands US$1.85M to help SMEs cut energy costs with solar power
Lead investors are Picus Capital and 2degrees | Within six months of its launch, SmartSolar claims to have installed almost 1MWp of capacity across numerous businesses in Vietnam.

Indian cross-border payment firm Razorpay expands into Singapore
Razorpay’s platform in Singapore will include several innovations tailored to the needs of local businesses, including multi-currency transactions and real-time payments, AI toolkit, and AI concierge for payments.

East Ventures, Temasek Foundation launch CIIC 2025 to boost climate tech innovation
CIIC offers a total prize pool of US$620K for piloting solutions to tackle ecological challenges and mitigate the impacts of climate change.

1337 Ventures backs Arus Oil to drive Malaysia’s waste-to-energy revolution
The startup provides convenience solutions for households, F&B, and hoteliers to recycle their UCO waste | It claims to have collected over 2M kilograms of UCO across the Klang Valley.

Funding Societies, Boss Boleh to help Malaysian SMEs overcome financing, admin challenges
Startups and SMEs that have been operational for less than a year can access digital term or invoice financing supported by Funding Societies.

AI for SMEs: Indonesia and Google partner on Gemini Academy
Integrating AI into business strategies will provide SMEs with valuable insights into market trends and consumer preferences.

Cortical Labs unveils CL1: The world’s first commercial biological computer
CL1 aims to enhance drug discovery and testing, improve personalised medicine, and aid in early disease detection.

Peak XV investor departs after 9 years
Shraeyansh Thakur indicated his intention to pursue an entrepreneurial venture, though specifics remain unclear | Thakur joined in 2015, working with startups like Meesho, CARS24, and Unacademy.

FEATURES & INTERVIEWS

Bridging the gender gap in GenAI learning: Strategies to get more women involved
Encouraging more women to pursue GenAI education requires coordinated efforts from educators, businesses, and governments.

Regulating AI in Asia Pacific: Can companies keep up?
Research suggests that firms pioneering responsible artificial intelligence could see an 18% increase in AI-related revenue.

Driving the future: How Auve Tech’s autonomous shuttles are reshaping urban mobility
Looking ahead, Estonia-based Auve Tech is set to launch a renewed shuttle model with enhanced autonomous capabilities.

AI is reshaping digital infrastructure for a sustainable future, but disparity in adoption persists
By adopting strategic AI implementations, organisations can maximise AI’s potential while mitigating its associated challenges.

FROM THE ARCHIVES

How to kill a startup in one move
Startup founders should own the sales process early to stay connected to customer insights and drive growth before scaling.

A startup founder lives on the ‘Edge Of Tomorrow’
The article compares startup founders’ challenges to those in the movie, emphasising persistence and learning from failure.

VC deal-breakers: How anti-dilution clauses could sink your startup
Every term sheet is negotiable, and it’s in your best interest to seek legal counsel to ensure your startup’s future remains secure.

Preparing for the unexpected: Succession planning and legal considerations for startup founders
Consult your startup lawyer to ensure succession clauses are properly incorporated and aligned with your startup’s needs.

Why inclusive hiring matters for a startup ecosystem
A truly inclusive workplace is one where Persons with Intellectual Disabilities (PWIDs) are able to learn, thrive and be respected.

Beyond growth: Why succession planning matters for startups
Implementing a robust succession plan helps startups maintain a talent pipeline, retain institutional knowledge, and ensure seamless transitions.

‘Step Zero Before the Hustle’: The psychology of entrepreneurial success
The book explores the psychology of entrepreneurial success, offering insights to build confidence, resilience, and essential startup skills.

Governing your startup: What founders can learn from politics and vice versa
It would benefit the startup community to look at itself not only as a niche business ecosystem but as one woven into the fabric of society.

Breaking down geography-based salary for your global teams
Geography-based pay comprises many complex factors, which is why it is crucial to acknowledge various approaches to implement these policies.

Cracking the code: Decoding 4 myths in Indonesia’s startup realm
This article highlights four common misconceptions that founders might have that can either make or break a startup.

Cultural intelligence (CQ): The key to unlocking success in global workspaces
CQ is the cornerstone of this ability, helping us lead, connect, and collaborate with people who bring diverse perspectives to our teams.

Our workplaces have changed a lot recently: Now here is the problem
The concept of work is blurring, it may seem like a minor issue, but it’s just the tip of the iceberg as we herald in the new normal.

Enhancing employee well-being and retention in Southeast Asian businesses
The success of any organisation in Southeast Asia relies on its ability to effectively support and engage its employees.

With AI comes huge reputational risks: How businesses can navigate the ChatGPT era
Navigating the benefits of AI technology requires balancing its advantages with the need to mitigate reputational risks.

Building a resilient sales team: Lessons from the trenches
This article covers building a sustainable sales culture through people-first leadership and long-term growth strategies.

THOUGHT LEADERSHIP

Big moves in Singapore space finance 2025
The space industry is poised to reach a trillion dollars—Singapore is ensuring it leads, not watches from the sidelines.

Can autonomous delivery vehicles handle the chaos of real roads?
The logistics sector is advancing toward a future where autonomous delivery is both feasible and optimised for diverse roads and weather.

Pakistan’s carbon market: A new opportunity for startups and SMEs
Pakistan’s involvement in the world carbon market offers an opportunity for economic growth as well as an environmental one.

Riding into the future with cowboy hats, AI and wearables
We’re making Singapore a leader in AI spatial intelligence, unlocking new revenue in geospatial analytics, wearables, and robotics.

Global economic shake-up: Bitcoin hits US$90K, German bonds slide
Germany’s bold fiscal pivot is shaking global markets, driving bond sell-offs, equity rallies, and a stronger euro amid shifting risk sentiment.

The post Ecosystem Roundup: Sea Limited’s 2024 results unpacked | Airwallex acquires CTIN Pay | LiveIn buys RedDoorz rental brand appeared first on e27.

California-based Crave Robotics has raised US$2 million in its latest seed round to expand its CraveBot hot food vending machine solution across the United States.

The investors include SparkLabs (Taiwan), 500 Global, Onus Global Fulfillment Solutions (the US), and Sanpu Travel (Japan).

The funding will enable the company to establish beta test sites and meet the needs of its locations and customers. “Working with new investor groups provides us with the working capital to leap to the next level, allowing us to get beta test sites into the public arena and, most importantly, to serve the needs of our locations and their customers,” Crave Robotics CEO Paul Chen said.

Also Read: Rise of the machines: 20 robotics startups shaping Southeast Asia’s future

Established in 2023, Crave Robotics provides hotels with smart vending solutions and focuses on streamlining operations and elevating the guest experience. Its flagship product CraveBot offers ready-to-eat meals in under three minutes, targeting the US hospitality industry, specifically branded hotel chains, colleges, and universities. The turnkey solution provides breakfast, snacks, desserts, and dinner entrees stored frozen and replenished via a cold-chain logistics network.

The startup aims to capture a share of the US$353.3 billion online food delivery market by providing on-campus and in-hotel dining options, which will bring revenues back to the college and the hotels.

According to Crave Robotics, hotels can generate additional revenue by offering guests hot food options 24/7 without requiring them to leave the premises. Similarly, colleges and universities can provide convenient and balanced meals to students after cafeteria hours or late at night.

Edgar Chiu, co-founder and Managing Partner of SparkLabs, said, “We invested in Crave Robotics because their innovative CraveBot is redefining hot food delivery, perfectly aligning with SparkLabs Taiwan’s mission to support breakthrough solutions that shape the future of hospitality and education.” said Edgar Chiu, Co-founder and Managing Partner of SparkLabs Taiwan.

Also Read: Why robotics is just entering its prime phase

Mic Inoue Hsieh Sanpu Travel  (Tokyo) said, “Our deep foundation in the travel and hospitality industries provides us with a pulse on what travellers are looking for to enhance their travel experience. CraveBot is the wave of the future of food convenience. The United States is embracing the hot-food vending experience as it provides travelers with a truly great food offering in under 3 minutes. Whether grabbing a quick breakfast during the morning rush to a business meeting or enjoying a hot meal late at night, the convenience and speed of service are a game changer and a lifesaver.”

The post SparkLabs Taiwan backs smart vending machine startup Crave Robotics appeared first on e27.

Artificial Intelligence (AI) is revolutionising industries, driving efficiency, automation, and better decision-making. But for many businesses—especially SMEs and enterprises—AI adoption remains a daunting challenge. Where do you start? How do you identify the right AI use case that aligns with your business needs?

This is exactly what Ian Jianliang Low, Head of AI Lab Programme at Prudential PLC, will be tackling in his exclusive workshop, “Identifying the right AI use sase: Turning business challenges into AI opportunities” at Flux Series: AI Leaders Summit 2025.

Why AI adoption feels difficult

Everyone is talking about AI, but for businesses looking to integrate it effectively, there are real barriers:

• High implementation costs make AI seem out of reach for smaller enterprises
• Lack of expertise means businesses struggle to find the right talent to drive AI transformation.
• Unclear ROI makes decision-makers hesitant about investing in AI.

For AI to work for your business, you need a clear, actionable approach—one that starts with identifying the right use case. Not every AI solution is a good fit, and businesses that fail to align AI capabilities with their actual challenges risk wasting time, money, and resources.

Also read: Can autonomous delivery vehicles handle the chaos of real roads?

What this workshop will teach you

This interactive workshop at Flux Series is designed to help businesses cut through the complexity of AI adoption and build a roadmap that works. Here’s what you can expect to learn:

• How to identify high-impact AI use cases – Learn how to recognise which business problems AI can effectively solve.
• A structured framework for AI adoption – Understand a step-by-step approach to evaluating AI opportunities.
• Matching business challenges to AI solutions – Develop the ability to align your company’s pain points with practical AI applications.
• Building an AI implementation roadmap – Walk away with a strategy that ensures AI delivers tangible business results.

Who Should Attend?

This session is for professionals who are serious about integrating AI into their business but need guidance on where to begin. It’s ideal for:

• Business leaders who want to drive AI transformation in their companies
• Innovation and strategy professionals working on digital transformation
• IT and operations managers responsible for AI deployment
• AI and data science teams looking to create business-aligned AI projects

Why this workshop is a must-attend

AI is not just for big tech companies. SMEs and enterprises can and should use AI to enhance operations, make data-driven decisions, and scale growth. But without a clear use case, AI projects often fail before they even begin. This workshop will provide a proven approach to selecting and implementing AI in a way that delivers real business value.

Led by Ian Jianliang Low, who has extensive experience leading AI-driven business strategies, this session will provide attendees with a practical, no-nonsense roadmap to AI adoption.

Also read: Leveling the playing field: Oracle NetSuite on AI’s role for SMEs

Meet the workshop lead: Ian Jianliang Low

Ian Jianliang Low is a lifelong problem solver, entrepreneur, and innovation leader who thrives at the intersection of design thinking, AI, and business transformation. From selling secondhand toys as a child to co-founding Reactor and building Trabble, an AI-driven SaaS platform, his journey has been fuelled by curiosity, creativity, and a passion for impact.

With global experience spanning startups, venture capital, and corporate innovation, Ian now spearheads the Prudential AI Lab Programme, where he turns ideas into action, develops AI-powered solutions, and drives AI adoption across the organisation.

Be Part of the AI Revolution

The AI wave is here, and businesses that embrace it will gain a competitive edge. If you’ve been wondering how to start your AI journey—or how to make AI work for your business—then this workshop is for you.

Join Flux Series: AI Leaders Summit 2025 and be part of the conversation shaping the future of AI adoption.

Secure your seat now at 50% off Starter Pass and take the first step toward making AI work for your business

 

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Image credits: Kindel Media

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There is a whirlwind of events shaping the financial landscape on March 7, 2025. Today’s developments—ranging from tariff flip-flops to monetary policy shifts and the intriguing evolution of cryptocurrency as a national asset—offer a fascinating glimpse into the interconnected forces driving risk sentiment worldwide. The question posed to me is to offer my point of view on this complex tapestry of economic and political threads, and I’m eager to dive in with a detailed, human perspective grounded in facts and careful analysis.

Let’s start with the tariff saga that’s once again grabbing headlines. President Donald Trump’s decision to pause tariffs on Canadian and Mexican goods covered by the USMCA is a notable twist in his administration’s trade policy. This move, announced just days after imposing steep 25 per cent tariffs on most imports from these North American neighbours, reflects a pattern of unpredictability that’s keeping markets on edge.

The initial levies sparked swift retaliation from Canada, Mexico, and even China, igniting fears of a broader trade war. US equity markets felt the heat, with the S&P 500 sliding 1.8 per cent and the Nasdaq dropping 2.6 per cent as investors grappled with the uncertainty. The tech sector, in particular, seems to be bearing the brunt, not just from tariff jitters but also from disappointing guidance that’s failed to match the sky-high expectations set by Wall Street.

Add to that the intensifying global race in artificial intelligence—where US tech giants face stiffer competition from abroad—and it’s no surprise that risk appetite is faltering.

From my perspective, Trump’s tariff strategy is a double-edged sword. On one hand, it’s a bold attempt to flex American economic muscle and address trade imbalances, a cornerstone of his political brand. The pause on USMCA-compliant goods suggests a pragmatic nod to the importance of North American trade ties, perhaps in response to pressure from domestic industries reliant on these supply chains.

Yet, the broader market reaction—US stocks erasing post-election gains and Asian equities following suit—underscores the fragility of investor confidence. The whipsaw effect of these policy shifts is palpable, and I can’t help but wonder if this unpredictability is eroding the very economic stability Trump aims to bolster.

Businesses crave certainty to plan investments, and this rollercoaster approach risks stunting growth rather than spurring it. The International Monetary Fund’s warning of a “significant adverse economic impact” on Canada and Mexico if these tariffs persist only amplifies the stakes.

Also Read: Global economic shake-up: Bitcoin hits US$90K, German bonds slide

Turning to the bond market, the Treasury yield movements offer another layer of insight. The 10-year Treasury yield ticked up 3 basis points to 4.29 per cent, signalling lingering concerns about inflation and the fiscal implications of Trump’s policies. Meanwhile, the 2-year yield dipped slightly to 3.97 per cent, hinting at expectations of a more cautious Federal Reserve stance in the near term.

The narrowing yield curve is something I’ve been watching closely—it’s a classic indicator of economic unease, suggesting investors are bracing for slower growth ahead. The US Dollar Index’s fourth consecutive day of decline, its longest losing streak since September, further reflects a market reassessing the greenback’s strength amid this turbulence. For me, this currency softness ties directly to the tariff uncertainty; if trade partners retaliate and global demand shifts, the dollar’s dominance could face a real test.

Commodities, too, are telling a story of cautious recalibration. Gold, often a haven in times of strife, eased 0.1 per cent as higher Treasury yields and profit-taking tempered its allure. Brent crude, hovering just above US$70 per barrel with a modest 0.2 per cent gain, seems stuck in a holding pattern, caught between geopolitical tensions and lackluster demand signals. I see these muted movements as a sign that traders are waiting for clearer cues—perhaps tonight’s nonfarm payrolls data will provide the spark they need to take a firmer stance.

The European Central Bank’s decision to cut its deposit rate by 25 basis points to 2.50 per cent was hardly a surprise, but its messaging caught my attention. Describing monetary policy as “becoming meaningfully less restrictive” feels like a deliberate signal to markets that the ECB is ready to support a sluggish Eurozone economy.

The EUR/USD’s brief flirtation with a four-month high of 1.0854 before settling at 1.0784 suggests traders are still digesting the implications. European equities closing flat tells me there’s no euphoria here—just a steady, wait-and-see approach as the continent navigates its own challenges, including potential spillovers from US trade policies.

In Asia, the narrative shifts to wages and monetary policy, with Japan’s labor unions demanding a 4.5 per cent base pay rise for 2025—the highest in 32 years. This is a big deal. Inflation has clearly taken root, and workers are pushing back, which strengthens the case for the Bank of Japan to tighten policy further. I’ve long argued that Japan’s decades-long battle with deflation might finally be turning a corner, and this wage hike demand is a concrete step in that direction.

Asian equity indices, however, are a mixed bag, with Japan’s shares tumbling nearly two per cent while Chinese stocks retreat from a four-year high. The shadow of US tariff uncertainty looms large here, and I suspect regional markets will remain jittery until Trump’s trade stance crystallises.

Also Read: Global markets steady as PCE data softens, Trump names Bitcoin in strategic reserve

Then there’s the cryptocurrency angle, which has injected a wild card into this already volatile mix. Bitcoin’s four per cent drop to US$86,000 after Trump’s executive order on a strategic reserve disappointed markets is a fascinating subplot. The order, paired with a stockpile of digital assets like XRP, Ether, SOL, and ADA, marks a historic acknowledgment of crypto’s role in national strategy.

But the caveat from White House crypto czar David Sacks—that no taxpayer funds will be used to buy these assets, relying instead on forfeiture proceedings—dashed hopes of a government-led buying spree. I find this pragmatic yet underwhelming. It’s a symbolic win for crypto advocates, but without active accumulation, the immediate market impact is limited. The slump in Bitcoin and other tokens reflects that reality.

South Korea’s response to this US move adds another dimension. At a seminar hosted by the Democratic Party, experts urged the country to integrate Bitcoin into its national reserves and issue a won-backed stablecoin. This isn’t just financial strategy—it’s geopolitical positioning. With the US, Switzerland, and Japan already advancing crypto adoption, South Korea risks falling behind if it doesn’t act.

The timing is critical, too, with a potential snap presidential election looming if President Yoon Suk Yeol’s impeachment holds. I see this as a smart play: a Bitcoin reserve could diversify South Korea’s assets and bolster economic resilience, while a stablecoin could enhance its digital finance ecosystem. The global momentum is undeniable—Switzerland’s “Crypto Valley” and Japan’s yen-backed stablecoins are proof—and South Korea’s tech-savvy economy is well-suited to join the fray.

So, what’s my overarching take? We’re in a moment of profound transition. Geopolitical uncertainty, driven by Trump’s tariff dance and crypto ambitions, is clashing with traditional economic signals like yields, wages, and central bank moves. Markets are understandably skittish, and risk sentiment is likely to stay volatile until there’s more clarity—perhaps from tonight’s payrolls data or Trump’s upcoming White House Crypto Summit.

Personally, I’m skeptical of tariff-heavy policies delivering long-term gains; the collateral damage to trade partners and domestic confidence could outweigh the benefits. On crypto, I’m cautiously optimistic—governments embracing digital assets is a game-changer, but execution matters more than intent. For now, I’ll keep my eyes peeled and my notebook ready, because this story is far from over.

The post Global markets in flux: Trump’s tariff pause and bitcoin reserve shake sentiment appeared first on e27.

A recent study conducted by Filipino startup Packworks, in collaboration with the Philippine Institute for Development Studies (PIDS), underscores the critical role of sari-sari stores in fostering empowerment among Filipina entrepreneurs.

These small neighbourhood shops, which supply daily essentials to 94 per cent of Filipinos, function as more than just retail outlets. They serve as platforms for psychological, social, and economic empowerment for women micro-entrepreneurs, contributing significantly to inclusive growth.

Findings from the PIDS Discussion Paper Series No. 2024-50, titled Gender, Microentrepreneurship, Human Flourishing: Exploring the Experiences of Women Sari-Sari Store Owners toward Inclusive Growth, reveal that operating a sari-sari store provides women with a strong sense of self-confidence, purpose, and motivation.

Many women identify as entrepreneurs or business owners, taking pride in their ability to contribute to their families and communities. This self-perception fosters independence and fulfilment, reinforcing their social standing.

Beyond personal growth, sari-sari store owners benefit from enhanced social status within their communities. These micro-businesses act as community hubs, fostering relationships and social cohesion.

Women store owners often experience increased support from their families, further strengthening their role in the local economy. These findings align with Packworks’ previous research, which highlights that 75 per cent of owners are women, underscoring their influence in the country’s retail and social fabric.

Also Read: Global markets in flux: Trump’s tariff pause and bitcoin reserve shake sentiment

Additionally, many women micro-entrepreneurs demonstrate transformational leadership qualities, fostering self-reliance and agency within their communities. They serve as role models for others, showing that financial independence and personal growth are achievable even within a micro-business setting.

Barriers to economic empowerment

Despite their strong presence in the micro-retail sector, economic empowerment remains a challenge for many women sari-sari store owners.

Access to capital is a significant barrier, with many relying on personal savings, family loans, or informal lending schemes that often have high interest rates. A lack of awareness about formal micro-loan options further exacerbates the issue, limiting their ability to expand and sustain their businesses.

Addressing these financial hurdles requires improved access to formal microfinance solutions. Some initiatives, such as Packworks’ collaboration with Cebuana Lhuillier and 1Sari Finance Corp, have begun to bridge this gap by offering microfinancing solutions tailored to sari-sari stores. However, broader efforts are needed to ensure that women entrepreneurs can access sustainable financial support.

Political empowerment among owners remains ambiguous. Most women entrepreneurs have minimal engagement with the government, with interactions primarily limited to business registration and elections. However, the study indicates a willingness among these women to participate more actively in government-led business support programmes if they were more accessible and better communicated.

An information gap persists regarding government intervention programmes designed to support women micro-entrepreneurs. While various financial and skills development initiatives exist, many sari-sari store owners remain unaware of them.

Bridging this gap through targeted awareness campaigns and outreach efforts could enhance their ability to leverage available resources for business growth.

Also Read: Beyond the hype: Identifying AI opportunities for businesses

The role of technology

Technology plays an increasing role in enabling women sari-sari store owners to overcome traditional barriers. Packworks, a social enterprise working with approximately 200,000 sari-sari stores, utilises big data to help these micro-entrepreneurs make data-driven decisions and leverage market trends more effectively.

Other digital innovations further enhance the capabilities of women store owners. BanKo, a subsidiary of the Bank of the Philippine Islands, has introduced the e’Nay app, which connects sari-sari stores with supermarkets, delivery services, and banks.

Similarly, the Tindahan Mo e-Level Up Mo programme—led by the Department of Trade and Industry (DTI) in collaboration with the Philippine Association of Stores and Carinderia Owners (PASCO), Hapinoy, and GCash—focuses on improving digital literacy among micro-retailers.

E-commerce platforms also present opportunities for market expansion. The E-Taas ang Pinay MSMEs Campaign, backed by the United States Agency for International Development (USAID), DTI, and the National Confederation of Cooperatives (NATCCO), aims to equip women entrepreneurs with the skills needed to access online marketplaces such as Shopee, Lazada, and Facebook.

While this initiative targets micro, small, and medium enterprises (MSMEs) broadly, it highlights the growing importance of digital platforms in empowering sari-sari store owners.

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Image Credit: JR Padlan on Unsplash

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