Back to Home
Press Room

iCar Asia Limited on track and begins monetising Dealers

Friday, 17 January, – iCar Asia Limited (ASX:ICQ), owner of ASEAN’s number 1 network of automotive portals today released its latest quarterly Appendix 4C, showing continued growth of its businesses. Cash receipts from customers for the period amounted to $0.416m, growth of over 235% in the corresponding period of 2012.  Net operating cash outflow was $1.948m resulting from continued in investments in technology and marketing, and closing cash and cash equivalents was $12.481m.

Underlying the cash flow, the key operating metrics of Listings, Audience & Leads showed tremendous increases across the group, further growing iCar’s market leadership position.

table

Mr. Damon Rielly, CEO of iCar Asia, said “We are confident that our sites are the best offering in each country of operation. With this we have increased our marketing expenditure which has resulted in very pleasing increases in all our key operating metrics.”

iCar Asia Limited’s Malaysian classified site, carlist.my also commenced its dealer monetisation program during December, successfully signing close to 1,000 feature subscription contracts with customers, all of which commence on 1 January 2014.  This equates to approximately 30% of all dealerships and sales agents in Malaysia already paying for iCar Asia’s classifieds products within the first month of monetisation. 

 “Dealers readily signing up to pay for our service is a big milestone,” Mr Rielly continued. .”It is validation of the great work we have done over the past year and our entire team is focused on driving the business to new levels in 2014.”

 

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