Part of the platform’s big push into Southeast Asia, TikTok Shop has already been operational in Indonesia since the company performed A/B testing there in February 2021. Furthermore, TikTok Shop is also poised to enter Thailand and Vietnam with both countries potentially having similar launch dates with Malaysia.

One advantage that TikTok has over the other two is its huge traffic as the platform has 240 million monthly active users in Southeast Asia. Furthermore, TikTok capitalises on that user base by integrating TikTok Shop into the search and live streaming function on the app.

Essentially, sellers can directly sell and promote their products by simply creating a TikTok video or going live on the app. Sellers will also have a special TikTok Shop icon added to their user profiles and a special tab on their public profiles which allows other users to browse through the products on sale by the seller.

TikTok Shop will also introduce several modes of payment, including Cash On Delivery (COD). In Malaysia, the limit for COD is a whopping RM10000 which is kind of crazy!

The platform will also have two shipping methods in our country, which are ‘Ship by TikTok’ or ‘Ship by Seller’. For the former, the shipping will utilise TikTok’s logistic partners and for the latter, it is up to the seller’s preference. Furthermore, TikTok Shop is reportedly offering free deliveries for a limited period during its launching.

Speaking of which, no date has been announced just yet for TikTok Shop’s launch. Let’s hope that the platform will launch soon as it’ll be interesting to see how TikTok Shop performs in our country.

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Beijing has launched a major crackdown on the biggest players in its tech sector after years of runaway growth and lax regulation, partly due to fears over their growing influence and the security of troves of sensitive consumer data.

Analysts have estimated the planned merger of live-streaming services Huya and Douyu could have brought the combined platforms’ domestic market share to between 80% to 90%.

“If Huya and Douyu merged, that would … further strengthen Tencent’s dominant position in the video game live-streaming market,” Beijing’s State Administration for Market Regulation (SAMR) said in an online statement.

“This has the effect of eliminating or restricting competition, is not conducive to fair market competition … and is not conducive to the healthy and sustainable development of the online gaming and video game live-streaming market.”

The blocked merger comes shortly after regulators abruptly announced a cybersecurity review into ride-hailing app Didi Chuxing on the heels of a US IPO that raised US$4.4 billion.

Plans for the deal were initially announced by Tencent last October, but SAYMR said it would undertake an antitrust review into the merger in December.

The same month, it announced an antitrust investigation into e-commerce giant Alibaba, whose fintech arm Ant Financial’s bumper IPO was shelved at the last minute by regulators in November.

The company was later slapped with a record ¥18.2 billion fine for anti-competitive practices.

Tencent currently has a majority stake in Huya and a 38% stake in Douyu, and the merger was set to grant it majority control over the combined entity.

Both Huya and Douyu are listed in the US, with market caps of US$3.57 billion and US$1.77 billion respectively.

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SINGAPORE – In another sign of the growing importance of Singapore’s e-sports scene, the industry will now have a place to call home.

The largest E-sports Experience Centre (EXP) was opened at the Singapore Sports Hub on Thursday (July 8) by Minister for Culture, Community and YouthEdwin Tong.

The EXP, set up by Singapore-based company Esports Entertainment Asia (EEA), is a result of an ongoing partnership with Singapore Cybersports & Online Gaming Association (Scoga).

The 12,000 sqf facility located at Kallang Wave Mall houses a comprehensive e-sports ecosystem under one roof. It features an integrated live-streaming-ready e-sports event space, pro-esports team rooms, e-sports cafe, open-concept and a LAN gaming area.

It also offers a comprehensive display of sound and video equipment, gaming laptops and consoles, as well as the latest gaming accessories and gadgets from top brands in the industry.

It will complement the Sports Hub’s partnership with Scoga which supports a host of e-sports programmes focused on the community, outreach, education and elite training, along with industry and pathway development.

Sports Hub chief executive Lionel Yeo said the facility showed its commitment to cultivating e-sports here as one that is “a healthy, positive sporting and entertainment activity for Singapore youths”.

He added: “We are also excited to welcome EXP as a new public offering which will provide a focal point for e-sports enthusiasts, pro-gamers and brands to come together.”

The Sports Hub has hosted several local and international e-sports activities and competitions in recent years like Hyperplay, an Asean e-sports and music festival organised by MCCY in 2018.

A year later, it staged One E-sports’ Dota 2 Singapore World Pro Invitational – the largest Dota 2 tournament in the region – which featured the top 12 teams from around the world.

E-sports player Kenny Cheng, 22, from Team KopiForYou, who has participated in several Mobile Legends: Bang Bang (MLBB) competitions said he was pleased to know that there is now a central hub for e-sports players.

He noted: “It’s great news especially because such a facility being set up does show that e-sports is growing and perhaps this will allow the sport to be better recognised by our locals, due to the investment being made.

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Indonesia-based venture capital (VC) firms were also involved in the funding round, including Amand Ventures, Prasetia Dwidharma, and Brama One Ventures, a Surabaya-based VC firm that has invested in a number of startups such as Ayoconnect, Halodoc, and NalaGenetics.

Gotrade offers ease and convenience in buying and trading stocks for US-listed companies. The service is currently available for a limited number of users in Indonesia on a by-invitation basis. This model requires a new user to receive an invitation from an existing one as the app is still in its early stage. According to statistics, Gotrade has secured more than 100,000 users only 13 weeks since its launch.

The startup was founded in 2019 by David Grant, Norman Wanto, and Rohit Mulani. It is also part of the Y Combinator (YC) accelerator programme with YC as its early investor.

One of the value propositions that Gotrade offers is that the platform eliminates geographical barriers to investing by cutting down on commission fee and minimum transaction. Users in 150 countries can buy stocks listed on Dow Jones, S&P 500, and NASDAQ starting from only US$1.

Wealthtech platforms have been gaining popularity in Indonesia with the rising demands for platforms that meet the needs of younger investors, particularly Millennials and Gen-Zs. Local startups that are developing similar services have also been receiving investors’ attention. This list includes Ajaib which has announced a US$65 million Series A funding round in March, followed by another round by Sequoia in May.

There are also platforms that offer investments in other forms. One that gives access to US stock exchanges is Pluang, though it is only limited to companies listed on S&P 500. The startup also counted Go-Ventures as an investor and is now integrated into the Gojek platform.

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