iCar Asia warns on losses

iCar Asia has warned of a trifecta of weak revenues, higher costs and increasing competition.

In iCar Asia: receipts fall short on 27 Jul 08 (Spec Buy – $0.67), we said the company looked unlikely to meet revenue targets of $11m–12m for 2016. Judging by the market’s reaction to that announcement we weren’t the only ones to be concerned, but this morning’s warning that it will manage only $6.75m–7.75m is worse than most imagined. The stock has fallen around 17% at the time of writing as a result.

Management blamed weak economic conditions in all its markets (Malaysia, Thailand and Indonesia), for the revenue shortfall, ‘with currency weakness reducing the volume of used car imports’.

2016 revenues 37% below target

Losses to increase



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles