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Sea to find most success by replicating a strategy similar to Tencent: Maybank

Khairani Afifi Noordin
Khairani Afifi Noordin8/2/2022 12:26 PM GMT+08  • 5 min read
Sea to find most success by replicating a strategy similar to Tencent: Maybank
Backed by the original superapp creator Tencent, Sea is currently Maybank's clear favourite to dominate the region. Photo: Bloomberg
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Maybank Securities analyst Samuel Tan prefers Sea in its coverage of Asean internet companies, believing the company could find the most success by replicating a strategy similar to Tencent.

In his August 1 report, Tan says Sea is currently his favourite to dominate the region in the future, while leading mobile wallet Grab appears to be lagging behind in miniapp development.

Superapps normally start off as an app with a single use case, notes Tan. As the business exhausts adjacent verticals, the company then looks to become an open platform through application programming interface (APIs) and software-as-a-service (SaaS) revenue streams.

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