Inactive Instrument

ICAR ASIA

Equities

ICQ

AU000000ICQ8

ICar Asia : Morgans rates ICQ as Add

February 25, 2020 at 06:31 pm EST

iCar Asia's result was slightly disappointing, held back by Thailand, the broker notes. The company nevertheless continues to build a strong position in new and used car markets in Thailand, Malaysia and Indonesia.

Margins will remain under pressure in the near term due to continuous investment in technology and business development, but the broker believes iCar is edging close to market dominance and pricing power. The broker retains Add, warning this is a high risk proposition not suitable for the risk intolerant. Target rises to 52c from 37c.

Sector: Media.

Target price is $0.52.Current Price is $0.37. Difference: $0.15 - (brackets indicate current price is over target). If ICQ meets the Morgans target it will return approximately 29% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Latest news about ICAR ASIA

ICar Asia Limited(ASX:ICQ) dropped from S&P/ASX Emerging Companies Index	22-02-03	CI
Supreme Court of New South Wales Approves Scheme of Arrangement for Icar Asia	22-02-02	MT
Carsome Sdn. Bhd. completed the acquisition of 80.1% stake in iCar Asia Limited from a group of shareholders.	22-02-01	CI
ICar Asia : Receives Slightly Lower Offer from Carsome Following Due Diligence	21-09-30	MT
MediaTek : Malaysia's Carsome raises $170 million to reach $1.3 billion valuation	21-08-31	RE
Carsome Sdn. Bhd. completed the acquisition of a 19.9% stake in iCar Asia Limited from Catcha Group.	21-08-31	CI
ICar Asia : Narrows FY21 Loss on Higher Revenue	21-08-31	MT
Icar Asia Limited Reports Earnings Results for the Half Year Ended June 30, 2021	21-08-30	CI
ICar Asia : Enters Process Deed Granting Due Diligence to Carsome Group	21-07-29	MT
ICar Asia : Malaysian Online Auto Trade Portals Join Forces in $200 Million Deal, Eye Spac Listing in US	21-07-14	MT
Carsome Sdn. Bhd. entered into a scheme implementation agreement to acquire 80.1% stake in iCar Asia Limited from a group of shareholders for approximately AUD 190 million.	21-07-12	CI
Carsome Sdn Bhd entered into an agreement to acquire a 19.9% stake in iCar Asia Limited from Catcha Group.	21-07-12	CI
ICar Asia Limited Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2020	21-02-25	CI
Autohome Inc. sent a non-binding proposal to acquire iCar Asia Limited for approximately AUD 210 million.	20-10-29	CI
ICar Asia Limited Announces Change of Registered Office	20-10-28	CI
ICar Asia Limited Announces Consolidated Unaudited Earnings Results for the Six Months Ended June 30, 2020	20-08-27	CI
ICar Asia Limited(ASX:ICQ) added to S&P/ASX Emerging Companies Index	20-06-22	CI
Icar Asia Limited Announces Reopening of Its Offices in Thailand and Malaysia	20-05-13	CI
ICar Asia Limited Reports Unaudited Revenue Results for the Year to Date Ended April 2020	20-05-13	CI
ICar Asia Limited Announces Consolidated Earnings Results for the Year Ended December 31, 2019	20-04-29	CI
ICar Asia Limited Announces Key Operating Metrics Remain Stable in First Quarter as COVID-19 Impacts Cash Performance	20-04-20	CI
ICar Asia Limited Withdraws Financial Guidance for Fiscal Year 2020	20-03-19	CI
ICar Asia Limited Appoints Hamish Stone as Managing Director	20-02-20	CI
ICar Asia Limited Announces Unaudited Consolidated and Parent Earnings Results for the Year Ended December 31, 2019; Provides Earnings Guidance for the Fiscal 2020	20-02-20	CI
ICar Asia Limited completed the acquisition of PT Car Classifieds Indonesia.	19-11-11	CI

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Company Profile

iCar Asia Limited is a Malaysia-based company, which is engaged in the development and operation of Internet-based automotive portals in South East Asia. The Company's segments include Malaysia, Indonesia and Thailand. It offers a Response Management System (RMS). Its Malaysia brands include Carlist.my, LiveLifeDrive.com and CarlistBid.my. Its Indonesia brands include Mobil123.com, Otospirit, carmudi, and Mobil123.com flash deals. Its Thailand brands include One2car.com, Autospinn.com, One2carbid.com and Thaicar.com. Carlist.my connects car buyers and sellers to a single platform, which encompasses car classifieds and content. Mobil123.com is an online automotive classifieds Website. Mobil123.com allows both motor vehicle dealers and private sellers to list cars for sale. Autospinn.com is an automotive content Website. The Company's subsidiaries include iCar Asia Pte Ltd, iCar Asia Management Services Sdn Bhd, Netyield Sdn Bhd, iCar Asia Sdn Bhd and PT Mobil Satu Asia.

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