Nick Nash

Sea reports mounting losses, president Nick Nash to depart

SINGAPORE (Mar 1): Sea, operator of Southeast Asia’s biggest gaming platform, reported mounting losses amid investments for growth and said group president Nick Nash will leave his position at the end of the year.

The Singapore-based company reported its net loss for the quarter ended in December more than tripled to US$263.1 million ($348.6 million), compared with analyst estimates that it would lose US$201 million, while total revenue climbed 41% to US$124.6 million, according to generally accepted accounting principles.

Growing beyond games

Nick Nash, Garena

Garena is expanding into e-payments and e-commerce. Both industries are well populated with players that do not seem interested in making money. Is Singapore’s most valuable start-up likely to come out ahead?

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