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Wednesday, September 15, 2021

Carousell Group Raises US$100 Million from STIC Investments to Accelerate Classifieds 4.0 in Greater Southeast Asia


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Valued at US$1.1 billion, the regional leader of classifieds will continue to cement its frontrunner position across Goods, Autos and Property verticals, and accelerate its transactional push into recommerce


Carousell Group, the leading classifieds group in Greater Southeast Asia, today announced that it has secured an investment of US$100 million to accelerate its leadership in the region, and to reimagine the classifieds experience with a focus on convenience and trust, to make secondhand the first choice.

This round of funding, led by STIC Investments, a leading Korean private equity that invests across Asia, marks a significant milestone that will bring Carousell's valuation to US$1.1 billion. The investment will power the group's ambitions to redefine commerce for secondhand goods and automobiles in an increasingly digitally savvy, affluent and sustainability-conscious region.

"The pandemic has shown us that our mission to inspire the world to start selling and buying secondhand is more relevant than ever. People in the community are using our platforms to make more possible for each other—through shared passions, making ends meet, affording what they need, or simply because it is more sustainable. We believe that the accelerated adoption of digital experiences is an opportunity for us to double down on our recommerce efforts with a focus on convenience and trust, to unlock step-change growth in our community," said Quek Siu Rui, Co-founder and CEO of Carousell. "STIC's investment is a validation of our mission and strategic direction. We'll deepen our investments in recommerce across more categories and markets, and will continue to seek opportunistic acquisitions in scaling up."

"We have been monitoring Carousell as one of the leading platforms in Greater Southeast Asia, and are excited to partner up with a significant stake in its growth story," said Jason Cho, Managing Director of STIC Investments. "Carousell continues to achieve tremendous user growth as they transform the recommerce market, adding new features that are focused on creating trusted marketplaces and enhancing overall user experience. We are highly confident that Carousell will be at the center of the secondhand economy in this region at a time when an increasing number of socio-economic and environmentally conscious consumers are shifting towards a circular economy". As part of the funding round, Mr. Cho will join the Carousell Board of Directors.

Since its founding in 2012, the Group serves a community of tens of millions of users across eight markets in Greater Southeast Asia under the brands Carousell, Mudah.my, Cho Tot and OneKyat. Carousell's pioneering mobile-first approach reignited the classifieds space, making selling and buying easier and proving to be an essential one-stop shop across all categories.

"We have grown way beyond categories like fashion, electronics and general goods," said Siu Rui, "As the region becomes more affluent, people want to enjoy the finer things in life. We are looking at authentication capabilities for higher-value products, including luxury goods and cars. Our goal is to make transacting in a secondhand marketplace as convenient and trusted as any e-commerce platform so that secondhand can truly be the first choice."

This year alone, Carousell has piloted a Certified Mobiles programme in Singapore, offering a 12-month warranty for used mobile phones to offer users a like-new experience at secondhand prices, and launched integrated shipping with PosLaju (the Malaysia national postal service) to provide contactless transaction options for sellers and buyers during the Movement Control Order. Carousell Auto Group, which was formed earlier this year to leverage its regional leadership position in car classifieds, has in a short period rolled out a Certified Autos programme in Malaysia that achieved the largest inventory of certified cars in the country, with other key markets to follow.

"We are grateful and privileged to have investors, teammates and users who believe in our mission and our journey in building a meaningful and enduring company," Siu Rui added.

Law group, student councils, and medical associations ask senators to ‘junk Vape Bill’


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Public interest law group ImagineLaw  raised the alarm over the rising epidemic of vape and e-cigarette use among young Filipinos and said that the passage of Vape Bill into law will encourage more young people into the vice.

Senate Bill No. (SBN) 2239 or the Non-Combustible Delivery Systems Act, commonly-referred to as the Vape Bill, is undergoing interpellation in the Senate. A counterpart measure was approved on third and final reading in the House of Representatives in May this year.

Atty. Sophia San Luis, executive director of ImagineLaw, said that 1 in 4 Filipino students have already tried e-cigarettes or vaping products, citing 2019 data from the Department of Health (DOH). “The Vape Bill will relax control measures over these harmful products. The bill also contains provisions that will attract more Filipino youth and children to the vice,” she added.

“Vape and e-cigarette use is a rising epidemic among young people. The passage of the Vape Bill will fuel this epidemic,” according to Dr. Riz Gonzalez of the Philippine Pediatric Society (PPS). “It is equally alarming that 1 in 7 Filipino students aged 13 to 15 years are current users of vape and e-cigarettes,” she also said.

“The Vape Bill goes against the overwhelming professional opinion of Filipino doctors,” said Dr. Glynna Ong-Cabrera of the Philippine College of Chest Physicians (PCCP). “Vapes and e-cigarettes are neither effective harm reduction tools nor are they helpful to smokers who want to quit,” added Dr. Ong-Cabrera who also heads Quitline, DOH’s smoking cessation program in partnership with the Lung Center of the Philippines.

Nicole Picart, National President of the Association of Philippine Medical Colleges - Student Network (APMC-SN), along with other student and youth organization leaders, urged Senators to instead pass measures that will impose a comprehensive ban on flavorings and online ads of vapes and e-cigarettes.

“We urge our lawmakers to uphold and protect Filipinos’ health by voting against Senate Bill No. 2239,” said Picart. “The Vape Bill will only put young people’s health at risk as it weakens existing public health regulations, while prioritizing industries that profit from the harms brought by the sale of e-cigarettes and vaping products,” she also said. 


Global Youth Tobacco Survey, 2019: https://doh.gov.ph/sites/default/files/publications/Philippines%20GYTS%202019%20Factsheet%20%28Ages%2013-15%29.pdf




Caption: Youth groups and medical associations, led by public Interest law organization ImagineLaw, urge senators to ‘junk Vape Bill’, citing rising youth epidemic.

WorldHotels Collection Asia Pacific Properties Feature New Heights Of The Experimental Dining


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White Swan Hotel’s Jade River Retained One Michelin-Starred Restaurant while Carlton Hotel Bangkok Sukhumvit Reopens Wah Lok, its Signature Cantonese Restaurant


WorldHotels Collection members in Asia Pacific has announced their signature restaurants are set to bringing back-on-track the ultimate dining experience like no other.


White Swan Hotel, China

Meet ‘Timeless Grace’ at the iconic five-star city-resort in the historical heart of Guangzhou.

Jade River has retained its One Michelin Star for the third consecutive year in 2021. Immerse the traditional garden, exquisite woodwork and the artisan Manchurian windows give it a serene ambience. The food is impressive and high-quality cooking; Baked pigeon with lemongrass and salt is the proud creation of the chefs. Also try various poultry and meats in white marinade. This award-winning restaurant is a true landmark of Guangzhou’s fare and flavors, delivers the authentic Cantonese cuisine with specialties created by our master-chefs to sublime heights. Hearty hand-crafted Dim Sum creations and signature Cantonese dishes making this unique restaurant an all-time favorite among local resident and patron diners from afar countries. Jade River is also awarded ‘Three Diamonds Restaurant’ by Dianping.com, China’s largest online gourmets navigation platform trusted by over 600 million users.

Discover more about this absolute 5-star luxury hotel and awarded dining, please visit White Swan Hotel.


Carlton Hotel Bangkok Sukhumvit, Thailand

Immerse the world of a fascinating fusion enriched by glories of the past and enlivened by creative contemporary culture.





Wah Lok is reopening the door on September 15th to welcome its guests to experience a starring authentic Cantonese cuisine with over 30 years of success, accolades and a loyal following at Wah Lok Singapore. This remarkable restaurant offers its signature dishes using high quality world-sourced ingredients, carefully crafted and presented in elegant upscale dining. The return of Wah Lok iconic restaurant, will bring you to enjoy a real taste of Cantonese flavors. Honored introduce you the newly launched of ‘5 new Dim Sum’ specialty created by Chef Wai Long Waa, experience the unique “Chao Zhou Fan-Go”, a steamed dumpling from the Chaoshan area of coastal eastern Guangdong, a province in Southern China. Also try the Chef recommends “Braised Boston Lobster with Egg Noodles, Ginger and Spring Onion”

Explore the hotel and its culinary, please visit Carlton Hotel Bangkok Sukhumvit

WorldHotels Collection APAC is committed to providing authentic and locally-curated stay for the guests. With 61 of the finest independent hotels in key destinations across Asia Pacific, each individual WorldHotels property brings its own unique experience while representing the brand’s identity to offering intuitive services, a refined sense of character, and the highest international quality standards.

Click here to learn more about WorldHotels: www.worldhotels.com

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