Back to Home
Press Room

iCar Asia Limited records strong early growth

Thursday 28th February – iCar Asia Limited (ASX:ICQ), owner of ASEAN’s number 1 network of automotive portals today released its audited financial statements for the period ended 31 December 2012, showing a loss from ordinary activities of AUD$1.757m as a result of investment in operations.

This investment has yielded strong performance in the primary metric of vehicle listings volume across its classified websites:

Untitled

 

Mr Damon Rielly, CEO of iCar Asia Limited, commented,“2012 was a big year for iCar Asia Limited. We acquired market-leading businesses, successfully completed our initial public offering and recruited an experienced and highly skilled Senior Management team who are now operational.Our core business strategy during 2012 was to increase the number of cars listed for sale on our classifieds websites and we have made significant progress in Malaysia and Indonesia.”

Mr Rielly continued, “Already in 2013 we have announced two strategic acquisitions: Malaysia’s fastest growing automotive website, Livelifedrive.com; and Thailand automotive classified site Thaicar.com. Both websites are strong additions to iCar Asia’s portfolio and we are confident they will contribute to our growth going forward.”

In 2013, iCar Asia intends to continue to focus on growth in the key metrics of listings and audience with a view to cementing its market-leading positions in Malaysia, Indonesia and Thailand.

For more information please contact:

Damon Rielly
Chief Executive Officer

iCar Asia Ltd
Mobile: +6016 3366 365
Email: damon.rielly@icarasia.com

Nick Geddes
Company Secretary

iCar Asia Ltd
Tel: +61 29252 1933
Fax: +61 29235 2709
Email: ngeddes@austcosec.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: Thaicar.com
o Thailand: Autospinn.com

Malaysia
Indonesia
Thailand