Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.
SINGAPORE: Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported a wider third-quarter loss on rising investments at e-commerce unit Shopee.
Net loss increased to $218 million in the three months ended Sept. 30 from $132.8 million a year earlier, the company said. Total revenue rose to $204.9 million from $94.1 million.
Sea has been struggling to keep its footing since going public in October 2017. The Singapore-based company sold stock in its IPO at $15 a share, while its shares closed in U.S. trading at $12.11.
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Revenue at digital entertainment unit Garena increased 41 percent to $112.5 million during the quarter, aided by the popularity of Free Fire, the first self-developed hit game at the company.
Revenue at e-commerce unit Shopee increased to $65.9 million.
Group Chief Strategy Officer Alan Hellawell will depart the company effective November 23, according to a statement.
Hellawell, a former analyst, has been a key executive to deal with investors since joining the company last year.
The move follows high-profile departures that include Group President Nick Nash whose retirement at the end of 2018 was announced in February and Jin Oh, former CEO of Garena who left the firm effective August 31. The company said it has promoted Terry Zhao as president of Garena.
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