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iCar Asia Announces Acquisition of Malaysia’s Fastest Growing Automotive Website

Wednesday 9 January – iCar Asia Limited owner of ASEAN’s number 1 network of automotive portals announced on Monday that it has entered into an agreement to acquire DQBP Sdn Bhd, owner and operator of LiveLifeDrive.com, Malaysia’s fastest growing automotive website.  

LiveLifeDrive.com grew over 400% through 2012 to approximately 272,000 unique visitors in November (Source: Effective Measure). The website provides extensive coverage and reviews of new cars in Malaysia.

The acquisition further strengthens iCar Asia’s foothold in its Malaysian market as it continues to grow its reach and offerings.

Damon Rielly, CEO of iCar Asia, said “Carlist.my is by far, the most comprehensive automotive listing website in Malaysia, with reliable content by a dedicated editorial team. Thus, combining our leading classifieds website, Carlist.my, with LiveLifeDrive.com will create the clear number 1 website in Malaysia for people looking to buy or sell new or used cars.”

“I am also very excited to have the team from LiveLifeDrive.com join iCar Asia and to work with them to deliver results through 2013.”

For more information please contact:

Hamish Stone
Chief Executive Officer
iCar Asia Ltd
Mobile:
Email: hamish.stone@icarasia.com
Mark Licciardo
Company Secretary
iCar Asia Ltd
Tel: +613 8689 9997
Email: markl@mertons.com.au

About iCar Asia Limited (www.icarasia.com)

Listed on the Australian Securities Exchange, iCar Asia (ASX:ICQ) owns and operates ASEAN’s No. 1 network of automotive portals. Headquartered in Kuala Lumpur, Malaysia, the company is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand. iCar Asia is continuously working to capitalize on its market-leading positions, with its online properties currently reaching over 4.8 million car buyers and sellers in the region every month.

iCar Asia Group Network of websites:

o Malaysia: Carlist.my
o Malaysia: LiveLifeDrive.com
o Indonesia: Mobil123.com
o Thailand: One2Car.com
o Thailand: Thaicar.com
o Thailand: Autospinn.com

Malaysia
Indonesia
Thailand