The digital economy in Southeast Asia, independent of the well-known tech giants such as Grab, Gojek, and Sea Limited, has observed a considerable upswing in publicly listed mobile app companies. This progression, mirrored in recent capital raises and market performance, underlines the region’s flourishing tech sector.
One such example on the Indonesia Stock Exchange (IDX) is Bank Central Asia (BBCA:IJ), a leading bank which has significantly digitalized its services via its mobile banking app, m-BCA. This app has contributed substantially to BCA’s recent successful IDR 5 trillion (~ $350 million) bond issuance, demonstrating the growing confidence in digital banking solutions.
On the Stock Exchange of Thailand (SET), telecommunications company Advanced Info Service (ADVANC:TB) has marked its digital territory through its mobile app, mPay. The app’s successful performance significantly contributed to AIS’s recent $100 million bond issuance, underlining investor interest in mobile financial services.
Frasers Property Public Company Limited (FPL:SP), also listed on the SET, recently ventured into the digital realm with its mobile app, ‘One Bangkok.’ This mobile application aims to digitally connect and manage the One Bangkok district. Its contribution to Frasers Property’s recent capital raise of THB 10 billion (~ $300 million) demonstrates the potential of digital solutions in real estate management.
In the Philippines, PLDT Inc.(TEL:PM), listed on the Philippine Stock Exchange (PSE), has diversified into digital services with its PayMaya app. The app’s performance was a critical factor in PLDT’s recent successful PHP 15 billion (~ $300 million) bond issuance.
Together, these mobile app companies listed on Southeast Asian stock exchanges have raised over $1 billion in recent funding rounds and several other companies have raised more. These achievements underscore the robustness and potential of the region’s publicly listed mobile app sector, reflecting investor confidence in the continuous evolution of Southeast Asia’s digital economy.