Posted on January 27th, 2015
26 January, 2015 – iCar Asia Limited (ASX:ICQ), owner of ASEAN’s number 1 network of automotive portals today released its latest quarterly Appendix 4C. Cash receipts for the period increased by 162% over the prior corresponding period to $1.1m, the first time cash receipts have surpassed $1m in a quarter, whilst net operating cash outflow was $3.0m. The Company finished the period with $15.4m in cash and cash equivalents.
During the last quarter of 2015, iCar Asia acquired Thailand’s number 1 automotive website, One2car.com, a significant strategic milestone for the Company. All markets demonstrated strong growth in all core operating metrics, while dealer engagement in both Malaysia and Indonesia via iCar Asia’s market-leading Response Management System (RMS) increased significantly.
Malaysia – Extending Dominant Position
iCar Asia’s Malaysian site, Carlist.my continues to go from strength to strength, further growing its already market dominant position. Highlights in December included:
Damon Rielly, CEO of iCar Asia said, “Carlist.my continues to grow and extend its already significant leadership position. We have some very exciting and innovative products that will be released in 2015 that will deepen our engagement with Dealers and automotive brands, and should result in further increases in our audience and continuing dominance in the market.”
Indonesia–Number 1 Automotive Site
iCar Asia’s Indonesia business, Mobil123.com continues to grow rapidly, with its leadership position in Indonesia continuing to increase. The key highlights of a strong December performance were:
Mr Rielly said, “We are extremely excited with the performance of Mobil123.com. The successful launch and stronger than expected early dealer engagement with our market-leading RMS product has been extremely encouraging. Coupled with the great changes in user experience on our site, including by way of our new approach to new car content, we believe we are set for very strong growth in 2015.”
Thailand –Dominant number 1 with successful One2car.com acquisition
iCar Asia’s acquisition of Thailand’s number 1 automotive website, One2car.com was successfully completed on 11 December 2014, giving iCar Asia a dominant position in the market. Initiatives are underway to integrate One2car.com and iCar Asia’s existing Thailand business, Thaicar.com, which are expected to yield material efficiencies and position the combined business for strong growth in 2015. Other immediate objectives in Thailand are:
Mr Rielly said, “It’s a very exciting time for our business in Thailand, One2car.com will be our hero brand as we concentrate on using its dominant position to change and improve the way people buy and sell cars in Thailand.”
Mr Rielly continued, “The December quarter wrapped up a fantastic 2014 for iCar Asia. We set out to create a clear leadership position in ASEAN’s three largest automotive countries, and we have delivered upon that objective. We are very well placed for 2015, and intend to begin to execute on our strategy to drive revenue to our market-leading businesses..”
Sources: Google Analytics and internal
For more information please contact:
Chief Executive Officer
iCar Asia Ltd
Mobile: +60 17 473 3778
Chief Financial officer
iCar Asia Ltd
Tel: +60 17 854 5218
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 capitalize on its market-leading positions, with its online properties currently reaching over 11 million car buyers and sellers in the region.