By now, investors would be aware there is intense competition in South East Asia's e commerce scene. Bytedance's Tiktok has entered since early 2023 and been utilising its US$10+ billion annual profits from China to subsidise the large losses incurred in South East Asia, the aim is simple to be the one of the de facto 2 e-commerce players (given South East Asia population and lesser spending power, it seems this region can only support 2 profitable players) Shopee (Sea's arm) demonstrated how profitable e commerce could be when it posted 2 quarters amounting to an annual US$1 billion of annual EBITDA gains (or about US$500 million in annual net profits). Lazada and Tokopedia being the no 2 in each of their country region was starting to trun EBITDA positive and would have turned profitable in a few years time. Bytedance seeing the potential returns came in to take the top spot. This has resulted in a 3 corener war...