to assert dominant position through RM42.2 million strategic investment

March 15th, 2013 to assert dominant position through RM42.2 million strategic investment

Through the largest online deal in ASEAN this year, iCar Asia’s announcement that it has secured a RM42.2 million strategic investment from Ltd (carsales), is set to assert its dominant position as Malaysia’s number 1 car site.

In a market where most car buyers visit an average of 11 websites prior to making a purchase decision (Accenture, 2013), this investment strengthens’s ability and commitment to be the largest and most trusted car site in the nation. “The RM42.2 million investment will go to developing our technology platform and broadening our brand presence in becoming the only online destination a car buyer or seller would need to visit. Furthermore, this will also promote opportunities for strategic collaboration between the companies; leveraging and applying the experience and technical expertise of one of the world’s most comprehensive online automotive businesses to the local market; allowing us to go further in supporting the needs of the automotive industry,” commented Damon Rielly, CEO of iCar Asia.

Key Metrics

As of 28 February 2013

Dealers on site

> 3,000


108,488 - over 88% more than nearest competitor

(growth of 202% since July 2012)

Unique Visitors*

517,816 (growth of over 187% in 2 years)




Up 236% from January 2013

“We fully welcome this strategic investment alliance as it will allow us to ramp up our aggressive growth and further strengthen our offerings to our customers and users alike. This is an incredibly exciting time for us as we continue to experience rapid developments in our business and carsales’ highly complementary expertise will further enable the aggressive execution and implementation of our strategy. I’m absolutely confident that this will allow us to solidify our position as the largest and most trusted site for buying and selling cars in Malaysia,” concluded Mr Rielly.


Part of the iCar Asia network, is Malaysia’s No.1 car site connecting car buyers, sellers and enthusiasts to a single platform which encompasses car classifieds and informative content. has the largest number of car listings for sale in Malaysia with over 108,000 listings available within its database. Reaching an audience of over 517,000 unique visitors viewing over 5.6 million pages a month, according to Effective Measure, strives to provide consumers with a comprehensive and positive automotive research and purchasing experience.

About Ltd Ltd listed on the ASX in 2009 and is the largest online automotive, motorcycle and marine classifieds business in Australia; attracting more Australians interested in buying or selling cars, motorcycles, trucks and boats than any other classified group of websites. Ltd operates, Australia's number one automotive classified website and which attracted more than 3.8 million unique visitors between its desktop and mobile sites in September 2011.* The carsales network of websites also includes,, as well as leading boat, caravan, and truck and machinery classified websites and in September 2011 attracted more than 4.5 million unique visitors.*

* Nielsen Online, Market Intelligence, September 2011

For more information please contact:
Hamish Stone
Chief Executive Officer
iCar Asia Ltd
Mobile: +6017 473 3778
Yee Chin Beng
Chief Financial Officer
iCar Asia Ltd
Mobile: +6012 655 8333

About iCar Asia Limited (

Listed on the Australia 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 capitalise on its market-leading positions, with its online properties currently reaching approximately 12million car buyers and sellers in the region every month.

iCar Asia Network of websites: