Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»Grab Holdings, Temasek’s Chinese Bonds and Sea Limited
    Investments

    Grab Holdings, Temasek’s Chinese Bonds and Sea Limited

    August 24, 20245 Mins Read


    Welcome to this week’s edition of top stock market highlights.

    Grab Holdings (NASDAQ: GRAB)

    Grab released another strong set of earnings for the second quarter of 2024 (2Q 2024) and the first half of this year (1H 2024).

    Revenue rose 17% year on year to US$664 million and the delivery and mobility giant reduced its operating loss by 68% year on year to US$56 million.

    Loss for the quarter stood at US$68 million and more than halved from the US$148 million net loss in the prior year.

    The company generated a positive free cash flow of US$253 million for 2Q 2024, reversing the negative free cash flow of US$76 million in 2Q 2023.

    Grab’s monthly transacting units (MTUs) hit a record high for the quarter at 40.9 million, up 17% year on year, and have grown for six consecutive quarters.

    On-demand gross merchandise value (GMV), which is the sum of the GMV across its Mobility and Deliveries segments, climbed 13% year on year to US$4.4 billion.

    Digging into each division, Grab’s largest division, Deliveries, logged revenue of US$356 million, up 11% year on year.

    The adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) for the division more than quadrupled year on year to US$42 million.

    Mobility division delivered even better growth with revenue rising 19% year on year to US$247 million.

    Adjusted EBITDA improved by 14% year on year to US$129 million.

    Grab’s smallest division, Financial Services, saw revenue jump 54% year on year to US$60 million but generated negative EBITDA of US$24 million for the quarter.

    The better top-line performance was due to a 71% year-on-year increase in Grab’s loan portfolio to US$397 million.

    Looking ahead, Grab expects 2024 revenue to come in between US$2.7 billion to US$2.75 billion for a 14% to 17% year-on-year growth.

    Free cash flow for the year is also projected to be positive.

    Temasek’s Chinese bonds

    Temasek Financial (I), a wholly-owned subsidiary of Temasek Holdings, has issued US$1 billion 10-year and US$1.7 billion 30-year offshore Chinese yuan bonds at par value.

    The 10-year bond has a yield-to-maturity (YTM) of 2.75% per annum while the 30-year bond’s YTM stood at 3.1% per annum.

    These bonds, which pay semi-annual coupons, will be issued under Temasek’s US$25 billion guaranteed global medium-term note programme.

    The proceeds will be used to fund Temasek’s ordinary course of business.

    This latest bond offering comes on the heels of three offshore Chinese yuan bond issuances – one in February and two in March.

    Back then, the investment firm raised a total of 1.6 billion yuan (around S$293 million), representing the first time that Temasek issued this type of bond.

    Sea Limited (NYSE: SE)

    Sea Limited also released its 2Q 2024 earnings recently.

    Total revenue rose 23% year on year to US$3.8 billion for the quarter, led by a strong performance from its e-commerce division (Shopee).

    Shopee’s revenue jumped 30.4% year on year to US$3 billion but this was offset by a 17.7% year-on-year revenue decline to US$ 435.6 million for Sea’s digital entertainment (Garena) division.

    Operating profit plunged nearly 71% year on year to US$82.9 million and was impacted by a sharp 57% year-on-year surge in sales and marketing expenses to US$774.8 million.

    Sea reported a net profit of US$79.9 million for 2Q 2024, down three-quarters year on year from last year’s US$331 million.

    Digging further into each division, Shopee saw its GMV increase by 29.4% year on year to US$23.3 billion.

    Gross orders on the division’s e-commerce platform shot up nearly 39% year on year to 2.5 billion.

    Management believes that Shopee should become adjusted EBIDTA positive in 3Q 2024 and is revising the full-year GMV growth rate to the mid-20% region.

    Over at Garena, its popular Free Fire game continued to be the most downloaded game globally during the quarter.

    The multiplayer online game saw more than 100 million daily active users (DAU) every day throughout 2Q 2024, a testament to the game’s consistent popularity.

    Quarterly active users (QAU) for 2Q 2024 came in at 648 million, up 19% year on year.

    The more important metric, quarterly paying users, increased by 22% year on year to 52.5 million.

    Despite the improvement, Garena still saw a 29% year-on-year fall in operating profit to US$210 million for the quarter.

    For its Digital Financial Services division, total loans hit US$3.5 billion and were up 40% year on year.

    The division made good progress in registering over four million first-time borrowers for its credit products, which was more than double the number onboarded in the prior year’s quarter.

    Investors will also be pleased to note that the business generated an operating cash flow of US$1.1 billion and spent just US$91 million on capital expenditures.

    Dive into the future of technology with our newest FREE report, “The Rise of Titans.” Discover how the big 7 US tech stocks can be your ticket to huge long-term gains. Download your copy today and see how easy it is to supercharge your portfolio.

    Follow us on Facebook and Telegram for the latest investing news and analyses!

    Disclosure: Royston Yang does not own shares in any of the companies mentioned.

    The post Top Stock Market Highlights of the Week: Grab Holdings, Temasek’s Chinese Bonds and Sea Limited appeared first on The Smart Investor.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    L’intégrale de C’est Votre Argent du vendredi 20 juin

    Investments

    Couchbase rachetée par Haveli Investments pour 1,5 milliard de dollars : le titre s’envole

    Investments

    Alternative investments: Gardening offers more than just savings – Mary Holm

    Investments

    Football : “Un club et une ville qui me tiennent particulièrement à cœur”… Une star de la NBA investit dans le PSG et devient actionnaire

    Investments

    Kevin Durant devient actionnaire minoritaire du Paris Saint-Germain

    Investments

    PSG – Officiel : Une superstar a signé, l’annonce du Qatar !

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Best Cryptocurrencies to Invest in Right Now August 28 – Internet Computer, Injective, Avalanche

    Property

    Fire at Great Gas on Broadway causes $400K in property damage – Times-Standard

    Cryptocurrency

    FIPCOIN Sets New Standard in Cryptocurrency with Stable Value and Guaranteed Returns

    Editors Picks

    Growing Demand for Affordable Property Investment Solutions

    October 23, 2024

    Barclays initie la couverture de Harel Insurance avec un potentiel de hausse de 30%

    June 19, 2025

    No-brainer Silver ETF to buy for 2025

    March 10, 2025

    Sun Silver déploie des appareils de forage pour l’exploration du projet argent-or du Nevada, les actions augmentent de plus de 6%. -Le 20 mars 2025 à 03:14

    March 19, 2025
    What's Hot

    La perte attribuable de Salt Investments s’aggrave au cours du troisième trimestre fiscal ; les actions augmentent de 33%. -Le 17 février 2025 à 07:28

    February 16, 2025

    Altcoins 101: Definition, Explanations, Examples

    July 20, 2024

    Check rates of Tether, Bitcoin, Ethereum, Dogecoin

    July 14, 2024
    Our Picks

    Four Inducted Into The Fulton County Agriculture Hall Of Fame

    August 24, 2024

    4 Questions You Must Ask Yourself for a Rich Retirement

    July 20, 2024

    Décret: retrait du permis d’exploitation minière de Guiter Mining et de la concession de Kebo Energy

    May 9, 2025
    Weekly Top

    Rencontre avec Tabahi, seul groupe de thrash metal du Pakistan

    June 20, 2025

    Silver Viper finalise l’acquisition du projet aurifère-cuivrique Cimarron

    June 20, 2025

    Russia Developing Cross-Border Digital Payment with BRICS

    June 20, 2025
    Editor's Pick

    La fintech nigérienne i-FUTUR obtient l’agrément d’établissement de paiement

    May 8, 2025

    If I bought a stock for cheaper, is my dividend yield higher?

    June 15, 2025

    Notre Dame de Namur University Announces Sale Agreement of Nearly 100 Acres of Property to UC Investments (University of California)

    May 27, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.