The Trump administration is apparently preparing new AI chip export restrictions targeting Malaysia and Thailand over concerns about semiconductor smuggling to China, according to Bloomberg’s sources familiar with the matter. The proposed measures would add the two Southeast Asian nations to existing export control frameworks amid ongoing investigations into potential chip diversion schemes.

A draft rule from the Commerce Department seeks to prevent China — to which the US has effectively banned sales of Nvidia’s advanced AI processors — from obtaining those components through intermediaries in the two Southeast Asian nations, people familiar with the matter told Bloomberg. 

If proven true, the proposed AI chip export restrictions would mark the first formal step in Trump’s promised overhaul of his predecessor’s semiconductor trade policies. The timing of these potential restrictions comes as Malaysia has emerged as a critical hub for global technology investments. 

The timing of these potential restrictions comes as Malaysia has emerged as a critical hub for global technology investments. Oracle, Google, Microsoft, and Amazon have committed a combined investment of $16.9 billion through 2038 in the country’s digital infrastructure, with Oracle alone pledging $6.5 billion for its first public cloud region in the country.

Trade data also shows that chip shipments to Malaysia have surged in recent months, according to Trendforce’s report. This increase has drawn the attention of US officials who worry about the potential diversion of advanced semiconductors to China.

What ignited the concerns?

The proposed restrictions gain additional context from ongoing investigations in neighbouring Singapore. Singapore charged three men with fraud in a case domestic media have linked to the movement of Nvidia’s advanced chips from the city-state to Chinese artificial intelligence firm DeepSeek.

The servers involved in the case were supplied by Dell Technologies and Super Micro Computer to Singapore-based companies before they were sent to Malaysia, according to Singapore’s Law and Home Affairs Minister K Shanmugam. Malaysia said it will take “necessary action” against Malaysian companies if they are found to be involved in a fraud case linked to the alleged movement of Nvidia chips.

It is also worth noting that the draft measure represents a significant departure from the Biden administration’s approach. Officials plan to pair Malaysia and Thailand controls with a formal rescission of global curbs from the so-called AI diffusion rule, which had drawn objections from US allies and tech companies, including Nvidia.

Commerce Secretary Howard Lutnick has outlined the administration’s vision, stating that the US will “allow our allies to buy AI chips, provided they’re run by an approved American data centre operator, and the cloud that touches that data centre is an approved American operator”.

However, the draft measure is far from a comprehensive replacement and doesn’t answer questions about security conditions for the use of US chips in overseas data centres — a debate with particularly high stakes for the Middle East.

Mitigation Measures for Industry

Recognizing the potential disruption to legitimate business operations, the proposed AI chip export restrictions would include several measures to ease pressure on companies with significant operations in the region. 

One provision would allow firms headquartered in the US and a few dozen friendly nations to continue shipping AI chips to both countries, without seeking a licence, for a few months after the rule is published.

The licence requirements also would still include certain exemptions to prevent supply chain disruptions. Many semiconductor companies rely on Southeast Asian facilities for crucial manufacturing steps like packaging, and the process of encasing chips for use in devices.

Regional response and uncertainty

Government responses from the targeted nations have been measured. In response to earlier Bloomberg queries about curbs focused on smuggling risks, Thailand said it’s awaiting details, while Malaysia’s Ministry of Investment, trade and industry said clear and consistent policies are essential for the tech sector.

Nvidia, the dominant maker of AI chips, declined to comment, while spokespeople for the Thai and Malaysian governments didn’t respond to Bloomberg’s requests for comment. Nvidia chief executive officer Jensen Huang has previously said there’s “no evidence” of AI chip diversion, in general remarks that didn’t touch on any particular country.

Strategic implications for Southeast Asia

The proposed measures highlight the broader geopolitical tensions surrounding AI technology and export controls. Washington officials for years have debated which countries should be able to import American AI chips — and under what conditions. 

On one hand, the world wants Nvidia hardware, and US policymakers want the world to build AI systems using American technology — before China can offer a compelling alternative.

Singapore is Nvidia’s second-biggest market after the United States, accounting for 18% of its total revenue in its latest fiscal year.  Actual shipments to the Asian trading hub, however, contributed less than 2% of total revenue, as customers use it as a centre for invoicing sales to other countries.

What’s next?

The draft regulation remains subject to change, and it’s unclear whether Trump officials may ultimately regulate AI chip export restrictions to a wider swath of countries, beyond the Malaysia and Thailand additions. The Commerce Department did not respond to Bloomberg’s request for comment on the proposed measures.

The proposed restrictions underscore a fundamental tension in US technology policy: how to contain China’s AI capabilities without undermining America’s technological influence. By potentially restricting two countries that have become key destinations for US tech investment, Washington risks creating the very fragmentation it seeks to avoid – pushing regional partners toward alternative suppliers and technologies.

For Malaysia and Thailand, the challenge extends beyond compliance. These nations must now prove they can serve as trusted AI infrastructure hubs while managing the reality that their strategic location makes them attractive conduits for circumventing sanctions. 

The outcome will likely shape how other Southeast Asian countries approach their own AI development strategies.

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As US and Chinese companies intensify their battle for global robotaxi leadership, Baidu’s Apollo Go robotaxi expansion into Southeast Asia appears to be gaining momentum, with the Chinese tech giant reportedly eyeing regional deployment as early as late 2025.

According to a recent Wall Street Journal report, Baidu’s robotaxi unit is planning to expand into Southeast Asia as soon as the end of this year, with Singapore and Malaysia identified as primary target markets in the region. A person familiar with the matter told the publication that these markets align with the company’s broader international strategy.

The potential robotaxi expansion comes as Chinese autonomous driving companies adopt what industry observers describe as a “dual-pronged approach” to achieve profitability and navigate geopolitical tensions.

As noted by Nikkei Asia in a recent report examining how “Baidu, Waymo and others eye overseas markets as political tensions run high,” uncertainty surrounding US-China relations has made the Middle East, Southeast Asia, and Europe increasingly attractive alternative markets for Chinese firms.

The market leadership battle intensifies

Baidu’s Apollo Go recently announced its service has completed more than 11 million rides, surpassing Waymo’s reported 10 million, marking a milestone in the global robotaxi competition.

The Chinese company operates the largest fleet of the Chinese robotaxi companies, with more than 1,000 cars in operation globally, according to a WSJ report. Chinese robotaxi rides cost about 35 cents per mile compared with $2 in the US, according to a 2025 report [PDF] by US-based investment firm ARK.

The cost advantage stems from government subsidies, comprehensive supply chains, and lower labour costs, giving Chinese firms an edge in price-sensitive markets. While China remains Apollo Go’s main market, the company has already announced expansion plans in the Middle East.

Baidu outlined plans in March to deploy “dozens” of robotaxis in partnership with UAE-based Autogo in Abu Dhabi with a goal of starting commercial operations by 2026, according to Reuters.

Goldman Sachs sees massive growth potential

Investment bank Goldman Sachs forecasts significant growth in the global autonomous vehicle market, projecting that a global fleet of several million commercial autonomous vehicles used for ride-sharing could be operational by 2030. Currently, China’s robotaxi fleet – the world’s biggest – stands at about 1,700 vehicles.

The research firm estimates the Chinese robotaxi market could grow to $47 billion in value by 2035 from an estimated $54 million this year. The growth trajectory is expected to be driven by cheaper hardware and algorithm development, as well as declining operating costs for fleet owners.

Goldman Sachs analysts believe Apollo Go, Pony AI, and WeRide will likely remain among the major players due to high technological barriers to entry and their leading advantages in algorithms, data, and mapping capabilities.

Regional competition heats up

The Southeast Asian robotaxi expansion strategy reflects broader competitive dynamics in the autonomous driving space. WeRide said it has begun “public operation” of its robotaxi GXR minivan in several Chinese cities as well as Zurich and Abu Dhabi, while also partnering with Uber to expand into 15 cities over the next five years.

Meanwhile, US companies are focusing on domestic scaling. The Alphabet-owned Waymo, which launched the world’s first fully driverless service in Phoenix in 2020, remains the largest operator in the US. However, American firms have faced challenges, with General Motors halting investment in Cruise after spending $10 billion, citing high scaling costs.

Technology race continues

As the industry moves toward commercial viability, Chinese companies appear to have gained operational experience advantages. Baidu’s Zhang said the company was confident it could do well abroad, citing its claim that its vehicles had completed 10 million trips in China as of March without a serious traffic accident.

The company has been running its Apollo Go robotaxi services commercially in several Chinese cities since 2022, with vehicles operating at Level 4 autonomy – meaning they are driverless but restricted to certain approved areas.

However, challenges remain for all players in the space. Even at the current level of automation – where vehicles can operate in driverless modes only in certain government-approved areas – robotaxis would commercially scale only by 2030, according to a McKinsey report.

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Singapore is backing a national plan to help 300 local companies adopt AI in their operations. The programme, called AI Cloud Takeoff (AI CTO), is led by Google Cloud and Digital Industry Singapore (DISG). It builds on a smaller pilot with 30 companies that wrapped up in late 2024.

The goal of the programme is to accelerate AI and cloud adoption in Singapore. Under the initiative, AI Centers of Excellence (CoEs) will be set up in 300 digitally mature Singapore-based companies in the next year. The teams will guide how AI is used in departments, train staff, and ensure that tools are integrated safely and responsibly. Companies involved will work with Google Cloud-certified tech partners and can receive up to SG$500,000 in support as they reach key project milestones.

The AI CTO effort is part of a broader Enterprise Compute Initiative announced in Singapore’s 2025 Budget.

Getting businesses ready for enterprise AI

AI CTO starts with a two-week bootcamp run by Google Cloud. Companies will identify AI uses tied to their business goals and set up internal teams to manage AI projects. They’ll receive help designing and building a working AI solution inside six months.

Support includes Google Cloud credits for using services like BigQuery and Vertex AI, and employee training through Google Cloud Skills Boost. Technical consultants will help with development and integration so the AI tools work with a company’s current systems and follow data privacy rules.

Google Cloud has teamed with Accenture, AsiaPac, CloudMile, Deloitte, Kyndryl, NTT Data, and Searce to help companies get started.

Several companies from the original pilot shared what they’ve built so far.

Embed builds an in-venue AI experience tool

Embed, which provides cashless systems for family entertainment centres like Timezone and Dave & Buster’s, launched a solution called Sidequest AI as a result of their participation in the AI CTO pilot. The solution, integrated into Embed’s kiosks, uses BigQuery to process gameplay and payment data and Gemini on Vertex AI to recommend tasks or rewards for players. It’s already been adopted in North and South America.

Andy Welsh, CTO at Embed, said the programme helped them prioritise projects and understand how to apply AI to their product line.

Searce, the partner that worked with Embed, said the key was balancing cloud and local processing to keep things efficient. The solution is now running in live environments and ready to scale.

Seaco uses AI to streamline container checks

Seaco, a player in the shipping container leasing space, is using AI to speed up how it inspects and processes container returns. The company built a multilingual AI agent that analyses photos and voice notes taken by depot staff.

The tool detects container damage, pulls out key details from voice messages, and sends a summary to Seaco’s cloud-based system. The company estimates the system could automate around 220,000 inspections a year.

Damian Leach, CIO at Seaco, said they created an internal hackathon to collect AI ideas from staff, and the solution emerged as one of the most promising.

CloudMile, which worked on the tool, focused on making it easy for staff to use in different languages and in different locations. It was built to work smoothly with Seaco’s existing SAP setup.

YCH Group develops cargo screening AI for Vietnam SuperPort

YCH Group is working with Kyndryl to build two AI tools for Vietnam SuperPort, a new 83-hectare logistics hub that connects air, sea, road, and rail freight.

One AI agent pulls key information from scanned or handwritten cargo documents, and another analyses X-ray images to flag prohibited items. Both tools are integrated with YCH’s operations systems.

Dr. Yap Kwong Weng, CEO of Vietnam SuperPort, said the new tools are expected to raise worker productivity and cut cargo handling errors.

Kyndryl said the models were trained using YCH’s past cargo documentation and image samples, and the company has plans to scale its solutions in Southeast Asia.

What comes next

Applications are now open for the full AI CTO rollout. The Singapore government and Google Cloud hope to bring more companies on board, using the same structure tested in the pilot.

The broader goal is to help Singapore-based businesses move beyond experimentation and start building useful AI tools that solve real problems. The emphasis is on responsible, secure use – and making sure that companies have the skills and structure to support AI long term.

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Grab has opened its first Artificial Intelligence Centre of Excellence (AI COE) at its Singapore headquarters, which is backed by Digital Industry Singapore (DISG). The centre will develop AI solutions to improve access to digital services, boost productivity, and support public projects across Southeast Asia.

Grab will use the new facility to train local talent, build tech tools for everyday use, and address regional social and business concerns. By 2025, the company expects to create at least 50 roles in engineering, product, data science, and analytics. These jobs are aimed at helping Singaporeans work on real AI problems with regional impact.

One major focus is making technology easier to use, especially for people who have trouble with standard apps or services. Grab is working with the Singapore Association of the Visually Handicapped (SAVH) to test a new voice assistant that helps visually-impaired users book rides using spoken commands. SAVH members helped test the tool and gave feedback to make sure it fits their needs.

Lyn Loh, who leads accessibility services at SAVH, said they were glad to support this effort. She said the voice assistant could help more people travel on their own and use digital services more easily.

Grab built the voice feature using models based on OpenAI’s technology, but with a local twist. The team trained the system on 80,000 voice samples that reflect Singaporean speech and building names. That helped the model improve its ability to recognise local accents and landmarks—from 46% to 89%. Starting in June, users in Singapore can donate voice samples through the app to further improve accuracy.

For now, the voice assistant is being tested in Singapore. Grab plans to expand its use in the future and is also exploring similar tools to support elderly users and others less familiar with smartphones.

The AI COE will also work on boosting productivity. That includes assisting drivers, delivery workers, and small businesses in using AI to make better decisions and improve how they work.

Grab is building its own AI model, trained on its own data, to better understand user behaviour and how partners use the app. This custom model is expected to improve the way Grab recommends rides, routes, and services to users and partners. It can help provide suggestions that are more relevant to each individual.

The company is also creating tools that let its employees test AI ideas more quickly. A new internal kit includes code and resources that make it easier to set up safe environments for AI testing. What used to take more than a week can now be done in half a day.

For Grab’s partners, the AI COE is rolling out tools like the Driver AI Companion and the Merchant AI Assistant. The driver tool offers tips on where to go for more ride requests, how to plan routes more efficiently, and what rewards are available based on driving patterns. The merchant tool assists businesses in understanding trends, getting suggestions on improving sales, and managing daily tasks more easily.

Another area of focus is public infrastructure and smart city tools. Grab collects a lot of data from its driver network, which it plans to use to support local government work. Its existing devices, such as KartaDongle and KartaDashcam, are being updated with new features to detect road hazards, monitor weather, and track traffic in real time.

One example is its collaboration with Singapore’s national water authority, PUB. By merging Grab’s data with PUB’s flood monitoring systems, the two teams can deliver real-time flood notifications to drivers and assist officials respond more quickly to storm-related situations. This reduces traffic interruptions and improves emergency response times.

Grab describes the AI COE as a way to use technology to improve daily life across Southeast Asia. The centre brings together data, tools, and people to build useful solutions for drivers, merchants, users, and cities. By focusing on real problems like accessibility, small business support, and urban planning, the company hopes to make AI more practical and inclusive across the region.

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Organisations in Singapore are reporting a sharp rise in cyberattacks, with 91% of IT and security leaders saying they experienced breaches over the past year, according to new research from Rubrik Zero Labs.

The study, The State of Data Security in 2025: A Distributed Crisis, points to hybrid environments and cloud adoption as important factors creating new vulnerabilities that many organisations still struggle to address.

Managing data was simpler when information was stored largely on in-house servers or individual computers connected to a single network. Today, data flows between multiple devices and networks, with sensitive information spread between on-premises systems and a growing number of cloud platforms.

As businesses expanded their use of cloud services to meet operational needs, the complexity of managing and securing data increased dramatically. According to Allied Market Research, 89% of organisations now rely on multiple cloud platforms; hybrid and multi-cloud strategies have become common.

The shift has forced IT and security teams to rethink how they track and protect corporate data. With information scattered in globally-distributed systems, understanding where important data resides – and how securely it is stored – has become a challenge.

Threat actors have adapted too. The broader move toward cloud infrastructure, remote workforces, and identity-driven access has opened new opportunities for attackers. Instead of relying solely on malware, attackers exploit valid credentials using social engineering, and carry out hands-on-keyboard intrusions, their methods evolving to match the complexity of modern environments.

The CrowdStrike 2025 Global Threat Report highlights these changes, noting a 26% increase in new or unattributed cloud intrusions compared to the previous year.

Attackers are also getting faster: the average breakout time for interactive cyberattacks dropped to 48 minutes in 2024, meaning defenders have even less time to detect and contain breaches. Sheena Chin, Managing Director for ASEAN at Rubrik, said the ongoing growth of cloud adoption is reshaping operations and expanding the attack surface.

“As more sensitive data moves to the cloud, cyberattackers are broadening their tactics to exploit hybrid cloud vulnerabilities,” she said. Chin added that organisations need a “data-first” approach to security that focuses on protecting the most important information before it can be compromised.

Attack frequency and impact are rising

Cyberattacks are becoming a routine issue for many businesses. Nearly one-fifth of organisations in Singapore reported experiencing more than 25 cyberattacks in 2024 – averaging a breach about every two weeks. The most common types of attacks were:

• Malware on devices (38%)
• Phishing attempts (32%)
• Insider threats (31%)
• Cloud or SaaS breaches (26%)
• Data breaches (23%)

The impact of attacks is wide-ranging. Thirty-eight per cent of affected organisations reported reputational damage and a loss of customer trust, while 37% said their security costs increased. In 33% of cases, cyber incidents led to leadership changes.

AI, cloud adoption, and data complexity pose new risks

As organisations move sensitive workloads into hybrid environments, managing and securing data has become more complicated. Rubrik’s report found that 92% of IT and security leaders are working with hybrid clouds, and half of their workloads are now cloud-based. Key challenges include:

• Securing data in different environments (42%)
• Meeting compliance and privacy regulations (36%)
• Managing environments without central oversight (34%)

Rubrik telemetry data shows that 36% of sensitive files are considered high-risk. Files often contain personally identifiable information (PII) like social security numbers, digital assets like source code, or proprietary business data.

Ransomware and identity threats are growing in complexity

Ransomware remains a persistent concern for Singapore organisations. Among those hit by ransomware last year, 95% admitted to paying a ransom to recover their data. Threat actors were able to partially compromise backup systems in 75% of cases, and fully compromise them in 38% of cases.

Identity threats are also getting more common, fuelled by the complexity of managing multiple platforms. With 91% of organisations in Singapore using between two and five cloud or SaaS providers, attackers are target identity and access management gaps. Insider threats – often linked to compromised credentials – were cited by 31% of IT leaders in the country.

Rubrik’s data further revealed that 27% of high-risk files contain digital information like API keys, usernames, and account numbers; prime targets for cybercriminals.

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The cybersecurity landscape in the Asia Pacific region has reached a important juncture, with system intrusions now accounting for an alarming 80% of data breaches, according to Verizon Business’s recently released 2025 Data Breach Investigations Report (DBIR).

The increase from last year’s 38% highlights the rapidly evolving threat environment facing organisations in Singapore and the broader region. The 18th annual instalment of the cybersecurity report analysed more than 22,000 security incidents, including 12,195 confirmed data breaches spanning 139 countries.

The report includes contributions from global public and private security agencies, including the Cyber Security Agency of Singapore (CSA), US Secret Service, and Cyber Security Australia.

Cybersecurity in APAC: System intrusions dominate

The most startling finding for the Asia Pacific region is the dramatic rise in system intrusion attacks, which now represent four out of five breaches. “In the Asia-Pacific region, in particular, external actors are targeting important infrastructure and exploiting third-party vulnerabilities,” said Robert Le Busque, regional vice president, of Asia Pacific for Verizon Business.

There has been a surge in malware presence in APAC breaches, jumping from 58% last year to 83% in 2025, with ransomware specifically accounting for 51% of breaches. This represents an escalation of attacks, particularly on Singapore businesses, which form the backbone of the region’s financial and technology sectors.

The human element and recent exercise SG ready 2025

Despite the technological sophistication of many attacks, the human element remains a important vulnerability.

During Exercise SG Ready 2025 in Singapore, more than 30% of phishing emails were opened, and 17% of embedded links were clicked. Such statistics reinforce that even as technical exploits grow in prevalence, social engineering continues to present an effective attack vector.

The DBIR noted that social engineering attacks have been on a slow decline since 2021, now accounting for 20% of breaches of cybersecurity in the APAC landscape. However, the decrease appears to be primarily due to the sharp increase in system intrusion attacks rather than improved security awareness.

External actors and state-sponsored threats

The threat actor profile in APAC is overwhelmingly external from affected organisations, with nearly 100% of breaches attributed to outside actors. Among these, 80% are categorized as organised criminal groups, while 33% are identified as state-affiliated actors – a particularly concerning statistic for Singapore, given its position as a strategic hub for finance, technology, and biotechnology.

The global trend shows espionage-motivated breaches rose to 17%, up from previous years. For Singapore’s important infrastructure and knowledge-intensive industries, this represents a significant security concern requiring heightened vigilance.

Global trends affecting Singapore’s cybersecurity posture

Several global trends identified in the report have particular relevance for Singapore organisations:

1. Vulnerability exploitation: Saw a 34% increase globally, with a significant focus on zero-day exploits targeting perimeter devices and VPNs.
2. Third-party involvement: Doubled, highlighting the risks associated with supply chain and partner ecosystems – a important concern for Singapore’s interconnected business environment.
3. SMB disproportionate impact: Ransomware present in 88% of SMB breaches versus 39% for larger organisations. In Singapore, SMEs constitute 99% of businesses and employ 70% of the workforce.

Economic impact and response strategies

The economic implications of threats are substantial, with the median ransom payment reaching $115,000 globally. However, there are positive signs that organisations are claiming they refuse to pay ransoms, with 64% not paying versus 50% two years ago.

“The year’s DBIR findings reflect a mixed bag of results. Glass-half-full types can celebrate the rise in the number of victim organisations that did not pay ransoms with 64% not paying vs. 50% two years ago. The glass-half-empty personas will see in the DBIR that organisations that don’t have the proper IT and cybersecurity maturity – often the SMB-sized organisations, are paying the price for their size with ransomware being present in 88% of breaches,” said Craig Robinson, research vice president, security services, at IDC.

Implications for Singapore

For Singapore organisations, the 2025 DBIR findings underscore the need for robust security frameworks that address technological vulnerabilities and human factors. As Singapore prepares for a period of heightened digital and political attention, insights from the cybersecurity industry specific to the Asia Pacific provide important guidance for security strategies.

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Remember when SEO simply meant getting your website to rank on Google? Those days are quickly fading into digital history. The evolution of SEO has been quietly transforming beneath our feet – from keywords and backlinks to a complex ecosystem that extends far beyond traditional search engines.

“Think of it as a natural progression,” says Judy Tay, Head of Content at First Page Digital, as we settle into our conversation at the bustling Digital Marketing World Forum (DMWF). Her eyes light up as she shares what she believes is the next frontier for digital marketers.

“SEO has evolved from search engine optimisation,” Tay explained. “Last year, it was search experience optimisation, but it is still focused on the website and the search engine. This year, it will be optimised for search everywhere. Keep your eyes out – websites will be so integrated into other engines outside of just Google.”

The three stages of SEO evolution

The evolution of SEO can be mapped across three distinct phases:

1. Search Engine Optimisation – The traditional approach focused primarily on ranking in Google search results
2. Search Experience Optimisation – A more holistic approach considering user experience on websites
3. Search Everywhere Optimisation – The current frontier where brands must optimise across multiple platforms and touchpoints

This progression represents a fundamental shift in how digital marketers approach their strategies. As search behaviours diversify across platforms like social media, voice assistants, and specialised apps, the conventional focus on Google rankings alone has become insufficient.

Metrics that matter in modern SEO

When evaluating SEO success, vanity metrics give way to more meaningful performance indicators. Tay emphasises that metrics should align with specific business goals rather than following a one-size-fits-all approach.

“Metrics is extensive,” noted Tay. “It really depends on context – SEO and marketing campaigns can no longer work by executing blindly. Understanding the business needs comes first. If the business wants to see revenue, I believe that should also be part of an SEO report or metrics.”

Tay focuses on engagement metrics for technical evaluation: “I look heavily into things like bounce rate, time on page and things like that. Those, to me, are not vanity metrics. Those are things that can inform the execution side of things.”

However, client-facing reports typically emphasise different aspects: “On the client side, it’s really about traffic, number one, of course. But then we must show what this traffic translates to – whether it’s engagement with specific landing pages, e-commerce conversions, or other valuable actions.”

Red flags in SEO agencies

Choosing the right partner becomes crucial as businesses navigate the evolution of SEO and seek expertise to guide their strategies. Yet many brands struggle to distinguish between agencies that deliver genuine value and those selling empty promises.

“This is something many people keep hush-hush,” Tay noted when asked about industry practices. Drawing from her extensive experience, she outlined three critical warning signs that suggest an SEO agency might be overpromising and underdelivering:

• Inflexible, cookie-cutter solutions

Tay warns against agencies that offer rigid, one-size-fits-all approaches: “A red flag is when an agency pushes only predetermined solutions with no room to pivot or be flexible. They’ll say, ‘You need this pay-per-click (PPC) campaign, you need this SEO package’ without considering your unique business context.”

• Lack of co-creation

“Another warning sign is when agencies discourage client involvement,” Tay explains. “They’ll say, ‘We’ll handle everything—just take a back seat and wait for results.’ This rarely works because collaboration is essential. We aren’t on the brand side day-to-day, so we need that partnership.”

• Limited experience with strategic thinking

Tay says tactical execution without strategic depth is problematic: “You can find someone to handle technical SEO tasks on Upwork or Fiverr, but that’s just execution. Many agencies focus on short-term tactical gains, especially in SEO; you need strategic experience to drive meaningful results over time.”

SEO practices to avoid

As SEO evolves, certain practices can potentially harm businesses in the long run. Tay highlighted a particularly concerning trend: the devaluation of technical SEO.

“The devaluation of technical SEO [is problematic],” Tay stated. “I’m the head of content, but nowadays, many agencies think that you can just optimise content and then just optimise very surface stuff like page load speeds and things like that. But I don’t think that’s the way.”

She emphasised the need for comprehensive strategies: “Given we need to take into account an overview of AI, what is the impact of my brand with the emergence of AI, for example?”

The evolving agency-client relationship

The relationship between SEO agencies and their clients has transformed significantly in recent years. Tay notes that agencies are increasingly functioning as extensions of their client’s teams rather than as external vendors.

“We are now seen as an extension of clients,” Tay explained. “We have some clients that get us to join their weekly stand-up–the entire marketing team, not just SEO specialists, but their sales, product developers, and things like that.”

This integrated approach allows for more comprehensive strategy development. However, Tay acknowledges it’s not suitable for every client: “That’s more towards customer servicing, as well as giving a more comprehensive strategy, which not every business needs or is paying for.”

Beyond integration, Tay emphasises the importance of consultative relationships: “Being able to be consultative – don’t just deliver. I try to have bi-weekly catch-ups with my clients to sit down and [ask] if we are meeting markers. Are we going in the right direction?”

The future belongs to the adaptable

A critical aspect of successful SEO is anticipating and adapting to search engine algorithm updates. While First Page Digital benefits from being a Google Premium Partner, Tay credits their success more to proactive testing and pattern recognition.

“Before Google even comes up with the updates, we have sort of put it to test already,” Tay revealed. “When you run big enough campaigns, you will see a pattern; when you see a pattern, you must form a hypothesis.”

This forward-thinking approach reveals why some agencies thrive while others struggle in the rapidly evolving digital landscape. As Tay emphasises, success in tomorrow’s SEO isn’t about mastering a single platform but understanding the entire digital ecosystem where your audience exists.

The evolution of SEO from search engine to search everywhere optimisation isn’t just another industry buzzword—it’s a fundamental reimagining of how brands connect with audiences. 

Those who recognise this shift early and adapt accordingly will survive the transition and discover unprecedented opportunities to dominate digital spaces their competitors have yet to explore.

As Tay puts it, we’re no longer optimising algorithms but for human connection across an expanding digital universe. And in that universe, the old rules of engagement no longer apply.

The post From Search Engine to Search Everywhere: The evolution of SEO in 2025 appeared first on TechWire Asia.

• Binance back in business.
• Fiat currency exchanges now possible for US traders.
• International competition for geographic hub status.

US cryptocurrency platform, Binance.US has revealed it is accepting US dollar deposits and withdrawal after restoring USD fiat services. Customers of Binance.US can withdraw and deposit USD via ACH bank transfers with no fees and continue to use the platform’s features, including buying, selling, and converting the platform’s accepted 160 cryptocurrencies.

The re-opening of full trade comes 19 months after Binance.US paused USD transactions, which the company stated was “due to escalating regulatory challenges.” A key motive behind the move to limit its activities was the legal action taken against Binance, its founder and CEO Changpeng Zhao, and operator of its US exchange by the US Securities and Exchange Commission (SEC).

The SEC accused Binance of falsely inflating trading volumes to create a misleading impression of market activity. The company was also alleged to have misused customer funds, allowing US users to access its platform despite ongoing restrictions, and deceiving investors about its ability to monitor and prevent fraudulent trading activities.

At the time, Binance.US cited the SEC’s “extremely aggressive and intimidating tactics” as a primary reason for disruptions to its services.

During the suspension, the company announced that it was functioning as a “crypto-only exchange,” dealing with crypto-denominated deposits, trading, and withdrawals, not fiat currencies.

Binance back in business

The latest round of restoration of services came after a great deal of change in the cryptocurrency landscape, including Zhao stepping down as CEO and Binance reaching a settlement in the case by agreeing to pay US$4 billion to the US government. The US’s new president is highly supportive of cryptocurrency, and several cryptocurrency exchanges that had previously withdrawn from the US, due to strict regulations under the Biden administration, are now returning.

Interim CEO of Binance.US, Norman Reed, commenting on the significance of restoring fiat (USD) transactions, said, “The marks one of the most important chapters for Binance.US since July 2023, when we were forced to begin operating as a crypto-only platform. We have been looking forward to the day that we would be able to offer full USD services again.”

The new lease of life for Binance.US could be an indication of the market shifting toward a more stable and regulated environment, or, depending on your point of view, a less-regulated arena in which exchanges can act with greater degree of impunity.

International jostling for position

The current rise in the value of Bitcoin – due in part to the US administration’s proposals to include cryptocurrency in federal reserves and the incumbent president’s welcoming approach to digital currencies – has given fresh impetus to other geographies to position themselves as cryptocurrency ‘hubs’. Hong Kong and Singapore have taken steps to amend or enact regulatory measures that are accepting of cryptocurrencies, and various other APAC countries are circling the possibilities that digital currencies purport to offer.

Last year, Singapore’s Monetary Authority gave out more than a dozen MPI (major payment institution) licences to cryptocurrency exchanges, including Coinbase and Blockchain.com, up from the four such licences it granted in 2023.

Hong Kong’s licensing regulations are somewhat tighter than Singapore’s, due in part to the territory’s close ties with mainland China. The Chinese administration has a selectively positive and sometimes mercurial attitude to cryptocurrencies. As of the end of 2024, Hong Kong had licensed seven cryptocurrency exchanges, and is increasingly seen as friendly towards cryptocurrency trade.

The return of Binance to its full trading status will help the market’s geographic balance. The SEC’s acceptance of Binance.US back into the fold will bolster the US digital currency economy, if not for the collective good of the US people, then at least as a representation of its ‘America First’ economic policies.

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The battle against cyberthreats is becoming increasingly complex and demanding. Recognizing the imperative need for advanced security solutions, key industry players and regulatory bodies are stepping up their game to shield consumers from the ever-evolving landscape of cyber-risks. At the heart of this crucial endeavor is the synergy between technology giants and government agencies, a partnership that not only aims to protect but also to pioneer in the realm of digital safety.

This narrative unfolds as Google Singapore and the Cyber Security Agency of Singapore (CSA) embark on a groundbreaking initiative, setting a new benchmark in mobile security measures. Their collaborative effort marks a significant leap forward, underscoring the importance of unified strategies in combating cyber scams and malware, thereby ensuring a safer digital environment for all.

Strategic collaboration between Google and the Cyber Security Agency of Singapore

As the digital frontier expands, this collaboration between Google and the CSA becomes critical in safeguarding mobile users from the burgeoning threat of cyber-scams. Singapore is set to be the first country to pilot this advanced feature on Android devices in the coming weeks. Having undergone rigorous pre-testing, this initiative is a testament to the robust partnership between Google and CSA, emphasizing their commitment to fortifying cybersecurity and anti-scam measures, officially announced in October 2023.

In today’s digital age, mobile devices are the cornerstone for numerous digital and financial transactions, leaving users globally vulnerable to financial fraud. Cybercriminals often employ social engineering tactics to deceive users into compromising their security safeguards and disregarding proactive malware, scam, and phishing warnings.

These deceptions, often disguised as financial incentives, savings, or urgent issues needing resolution, can lead users to inadvertently download malicious applications from various online sources, including web browsers, messaging apps, or file managers. This practice, known as internet sideloading, poses a significant risk as it can lead to the disclosure of sensitive personal information or the unwitting transfer of funds to fraudsters.

A recent Google Singapore 2024 Scams survey revealed that, despite Singaporeans’ confidence in their ability to identify and evade scams, 1 in 2 online users still succumb to them.

To counter these threats, Android has embedded multiple layers of protection to shield users from various security threats, including fraud, scams, and phishing. These protective measures include Spam Protection in Messages, Safe Browsing in Chrome, and the cornerstone of mobile security, Google Play Protect.

Real-time scanning: A key to advanced security

A notable enhancement to Google Play Protect is the introduction of real-time scanning, designed to fortify defenses against newly emerging malicious, sideloaded applications. These applications employ sophisticated methods, including artificial intelligence, to evade detection by altering identifiable features. Since its implementation, real-time scanning has identified over 515,000 new potentially harmful apps, issuing over 3.1 million warnings or blocks to protect users from potential harm.

The new enhanced protection feature on Android is geared towards providing Singaporean users unprecedented security. It operates by automatically blocking the installation of apps from internet-sideloading sources that request sensitive runtime permissions frequently exploited for financial fraud.

By scrutinizing the permissions requested by an app in real-time, focusing on permissions such as reading and receiving SMS messages, accessibility services, and notification listening services, Google Play Protect identifies and mitigates potential threats.

Google’s threat analysis reveals that a vast majority of malicious app installations, over 95 percent, originate from internet-sideloading sources, underscoring the critical need for this enhanced protection.

Scheduled to begin in coming weeks, the pilot of this enhanced protection feature will progressively roll out to users in Singapore. Users attempting to sideload apps that intend to use sensitive permissions will encounter a blocking prompt from Google Play Protect, accompanied by an explanatory message detailing the reasons behind the app’s blockage.

Chua Kuan Seah, the CSA’s Deputy Chief Executive, emphasizes the importance of continuous innovation and collaboration in effectively combating online scams. This cooperation with tech leaders such as Google is crucial in bolstering Singapore’s defenses against scams and safeguarding citizens’ online safety and digital assets.

Eugene Liderman, director of Android security strategy at Google, highlights the company’s commitment to a secure Android experience. The partnership with the CSA and the Singapore government is critical to protecting users from financial fraud. This pilot in Singapore is part of broader efforts to enhance user safety, with ongoing evaluations for future refinements. Collaboration with industry partners and focusing on user education are essential in addressing the changing landscape of cyberthreats.

Singapore’s Android users are encouraged to familiarize themselves with the new enhanced protection feature, becoming more informed and vigilant. Alongside this feature’s launch, Google continues to support the CSA with malware detection, sharing insights, and creating educational materials for users and developers. This includes working with industry partners and government agencies to increase user education and awareness.

Looking ahead: the future of cybersecurity in Singapore

Following the introduction of this innovative security feature, Andy Ng, vice-president and managing director for the Asia South and Pacific region at Veritas Technologies, offers a broader perspective on the importance of fostering trust in digital systems through robust cybersecurity measures and public education.

He emphasizes that the Singapore Budget 2024 must prioritize initiatives supporting the adoption of emerging technologies like AI and ensuring investments in comprehensive cybersecurity infrastructure, regulatory frameworks, and educational campaigns. These efforts are vital for building and maintaining trust among citizens, businesses, and investors, enhancing transparency, accountability, and the ethical use of data.

Ng’s commentary underscores the need for organizations to adopt a 360-degree defense architecture to bolster their cybersecurity posture, ensuring that data and applications remain safe and resilient across all environments. This approach necessitates significant financial backing to develop a practical defense framework through the judicious application of technology.

He also highlights the importance of collaborative efforts between the government, private sector, and academia in addressing emerging threats and preserving the integrity of Singapore’s digital ecosystem. The Cybersecurity Talent, Innovation and Growth (Cyber TIG) Plan, which earmarks S$50 million over the next three years, is cited as a timely and strategic investment to strengthen the cybersecurity ecosystem, enhancing the region’s economic opportunities.

Moreover, Ng stresses the critical role of promoting digital literacy and empowering individuals with the skills to safely navigate the digital landscape. Educational and public awareness campaigns are vital to helping citizens recognize and mitigate online risks, thereby cultivating a culture of responsible digital citizenship.

This emphasis on education and awareness is echoed in Google’s initiatives, such as the YouTube Creators for Impact program, which partners with local governments to leverage content created by The Smart Local and Sethisfy Personal Finance, among others, to raise awareness about digital safety topics. Google’s dedication to digital literacy extends to protecting vulnerable populations through collaborations with nonprofit organizations like RSVP Singapore and the Singapore Police Force on projects like Project PRAISE, aimed at educating seniors on scam prevention.

Additionally, Google organizes forums with financial services companies to share insights on combating scams and discuss tools that can help prevent malicious mobile security attacks, demonstrating a comprehensive approach to enhancing digital security and literacy across the community.

By prioritizing security, privacy, and user empowerment, Google and its partners are laying the groundwork for a digital environment where innovation and safety coexist, ensuring the online wellbeing of Singaporeans and fostering a resilient digital future.

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AI is revolutionizing supply chain management and logistics, and providing companies with a competitive advantage in a dynamic and uncertain market. Specifically, AI can be used in logistics and supply chain management to improve efficiency, accuracy and resilience in various aspects and operations.

In Southeast Asia, AI is a game-changer for logistics and supply chain management. Since the disruptions brought on by the Covid-19 pandemic, organizations have been using AI to ensure business continuity. And now, with generative AI solutions being developed as well, the industry is seeing more than just automation and route management for deliveries.

Currently, AI in logistics and supply chain management can help organizations with:

• Optimizing routing and delivery – AI can use real-time data, such as traffic, weather, road conditions, and customer preferences, to find the best routes and schedules for delivery. This reduces fuel consumption, emissions, costs and delivery times.
• Demand forecasting – AI can analyze data from multiple sources, such as sales history, market trends, weather, customer behavior, and social media, to generate accurate predictions of future demand. Companies are able to optimize inventory levels, streamline supply chain processes and reduce the risks of stockouts or overstocking.
• Improve loading process – AI can help automate the loading and unloading of trucks, containers, and warehouses, using computer vision, robotics, and sensors. This increases safety, speed and accuracy as well as reduces labor costs and human errors.

With generative AI, businesses in the industry could automate clerical work, predict operational results, factor in tariffs and even negotiate shipping rates. As sustainability continues to be thrust into the limelight, generative AI can play a pivotal role in creating environmentally friendly supply chains.

SingPost and Google Cloud

One company that has been accelerating its digital journey in logistics and supply chain management is Singapore Post Limited or SingPost. A leading postal and e-commerce logistics provider in Asia Pacific, SingPost’s portfolio of businesses spans national and international postal services, warehousing and fulfillment, international freight forwarding, and last-mile delivery, serving customers in more than 220 global destinations.

The company has just partnered with Google Cloud to accelerate its digital transformation journey and drive its next phase of sustainable growth. SingPost has already migrated all the IT workloads hosted in its on-premises data centers to Google Cloud and is in the process of harmonizing and consolidating its technology stack, establishing a robust and secure foundation to power accelerated AI-driven innovation.

Using Google Cloud’s AI-optimized infrastructure, SingPost has not only yielded cost savings of 30% in IT operations but is also capable of handling complex AI workloads, while ensuring cost-efficiency, scalability, and sustainability. Added to which, SingPost is deploying Google Cloud’s BeyondCorp Enterprise platform to enforce zero-trust security principles like multi-factor authentication and device verification, ensuring that only authorized staff can access proprietary company information.

Coupled with strategic investment in high-growth markets, this deployment has resulted in international logistics generating 86% of the group’s revenue – a key milestone in its ongoing transformation into a technology-driven logistics enterprise.

“Our positive engagement with Google Cloud to develop an AI solution—through its joint AI Trailblazers initiative with the Singapore Government—gave us the confidence to embark on the next step of this journey,” said Noel Singgih, group chief information officer at SingPost.

AI for logistics and supply chain management

SingPost’s AI solution for streamlining its e-commerce logistics operations cuts out manual re-entry of partner and supplier information from trade documents into its database.

That frees up staff from the tedious task of having to dig through document archives to find the information they need, letting them focus on making strategic decisions and delivering high-quality customer interactions.

The solution is built on Google Cloud’s Vertex AI platform, foundation models, and Document AI. The AI solution transforms unstructured data from trade documents into a searchable repository, with a generative AI-powered chat interface that understands natural language queries and brings accurate and relevant information to the surface.

Enhanced by Google Cloud, SingCloud aims to scale the use of its solution, to optimize supply chain orchestration across its logistics network and facilitate faster deliveries.

At the same time, SingPost is also using Vertex AI to explore solutions for several other use cases, including automating internal legal document reviews and providing more personalized interactions to enhance customer service.

All the while, SingPost will retain complete control over its data, including prompts and user inputs at inference time when using Vertex AI. That means the data does not need to leave SingPost’s Google Cloud environment, is encrypted both in transit and at rest, and is not accessible by Google Cloud or any other external parties.

“By investing in AI development and collaborator platforms with built-in privacy, control, security, and compliance capabilities, SingPost is empowering every employee—regardless of their role or function—to identify and capitalize on new opportunities for work optimization. This serves as a strong example of how a large enterprise can move swiftly to extract diverse benefits from generative AI adoption,” said Mark Micallef, managing director, Southeast Asia, Google Cloud.

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Over the last two decades, Singapore has made significant strides in solidifying its global data center hub position, capitalizing on its strategic location, robust fiber broadband connectivity, cloud services availability, and pro-business policies. Today, the city-state has formed a formidable digital infrastructure featuring 100 data centers, 1,195 cloud service providers, and 22 network fabrics. So it’s unsurprising that Nvidia Corp. saw 15% of its revenue come from Singapore in the recently concluded third quarter.

According to a US Securities and Exchange Commission filing, Singapore played a significant role in the US chip giant’s recent financial success, contributing US$2.7 billion of its US$18 billion revenue for the quarter ending October. The amount was a remarkable increase of 404.1% from the US$562 million recorded in the same quarter the previous year, surpassing Nvidia’s overall revenue growth of 205.5% from a year ago.

The growth puts Singapore ahead of every country except the US (35%), Taiwan (24%), and China, including Hong Kong (22%), based on CNBC’s observation. In the third quarter, 80% of Nvidia’s sales, as disclosed in the SEC filing, originated from the data center segment. The remaining portion was attributed to gaming, professional visualization, automotive, and other sectors.

“Cloud service providers drove roughly half of data center revenue, while consumer internet companies and enterprises comprised approximately the other half,” said Nvidia in the filing. That said, Singapore had its advantages, considering it is a global data center hub, hosting significant players including Amazon Web Services, Microsoft Azure, IBM Softlayer, and Google Cloud. 

What’s more, due to a robust network supported by 24 submarine cables, the country is also the landing site for a dense network of undersea cables, connecting it to other parts of Asia, Europe, Africa, Australia, and the US. A quick check on the Speedtest Global Index by Ookla shows Singapore has the world’s highest median fixed broadband speed.

Even Citi analysts acknowledged in a November 27 report that “Singapore is also a growing area of specialized CSPs standing up data centers in the region. The contrast becomes more pronounced when accounting for Singapore’s size. On a per capita basis, Singapore spent US$600 on Nvidia chips in the quarter, whereas the US spent only US$60 and China spent approximately US$3 per capita.

“That’s the billing location of the customer and not necessarily the point of consumption,” said Srikanth Chandrashekhar on LinkedIn, responding to a post by former Temasek director Sang Shin. Sang Shin had suggested the chips might be bound for data centers in Singapore, which seems a reasonable idea, since most Nvidia chips are headed for data centers, and Singapore has many such facilities.

What’s next for Singapore’s data center sector?

According to an article by ASEAN Briefing, 7% of total electricity consumption in Singapore goes to data centers, and it is projected to reach 12% by 2030. In short, the city-state will likely attract more players in the market, especially after lifting a moratorium on data centers in January 2022. Initially enacted in 2019, this moratorium responded to the considerable energy consumption associated with data centers.

Singapore has rapidly emerged as a prime destination for this pivotal industry due to its technological prowess, regulatory strength, and enticing incentives.

Firstly, the Pioneer Certificate Incentive (PC) program encourages companies, including those in the data center sector, to enhance their capabilities and undertake new or expanded activities in Singapore. 

The incentive is aimed at companies involved in global or regional headquarters (HQ) activities, managing, coordinating, and controlling business operations for a group of companies. Designed to drive substantial investment contributions and foster advancements in leading industries, the PC aligns with the characteristics and potential of the data center sector. 

The incentive is a win-win situation for both companies and the city-state as to qualify; businesses must introduce advanced technology, skill sets, or know-how, surpassing prevailing standards in Singapore. Additionally, they should engage in pioneering activities that substantially contribute to the economy.

Another allure of incentives includes GST waivers on importing data center equipment and covering servers, networking gear, and cooling systems. Then there’s Singapore’s dedication to sustainability, that stands out through initiatives such as the SS 564 Green Data Centers Standard and the Data Center Carbon Footprint Assessment (DC-CFA) program. 

The nation’s commitment to data security and privacy is also reflected in its regulatory framework, notably the Personal Data Protection Act (PDPA) and the Cybersecurity Act, fostering a trustworthy environment for data center operations.

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After going through an “optimization of the workforce” in September 2022, Malaysia’s only tech unicorn, Carsome, appears to be gearing up for additional layoffs in the coming months. According to several reports, the move comes as the Southeast Asian used-car online marketplace accelerates its efforts to break even by the end of this year and reach full-year profit in 2024.

The company employs approximately 4,000 people across Malaysia, Indonesia, Thailand, Singapore, and, most recently, the Philippines. The first layoffs in late September 2022 only impacted its Malaysian workforce. Now, according to a Bloomberg report, the Temasek-backed unicorn is contemplating job cuts throughout Southeast Asia, with Indonesia and Thailand being the most affected.

Quoting individuals familiar with the situation, Bloomberg reported that Carsome has scaled down its operations significantly in those two markets it entered in 2017. The company had earlier outlined intentions for an initial public offering (IPO) and stock market listings in Singapore and the United States (US) in 2023. Still, some concerns exist that deteriorating macroeconomic conditions could dent its valuation.

In an interview with Nikkei Asia earlier this month, CEO Eric Cheng explained that Carsome is considering an IPO as one of the potential avenues for the future, and that timing considerations and favorable market conditions will influence the decision.

How is Carsome doing financially amid recent layoffs? 

The driving force behind Carsome’s profitability is its retail arm, which provides refurbished cars and ancillary services like auto financing, insurance, and post-sale services. Launched approximately three years ago, the retail business (Carsome Certified) contributed 35% of Carsome’s US$1.5 billion revenue in 2022.

In an interview with Forbes, Cheng noted that the trade margin, representing the transaction profit after subtracting associated operating costs, stands at 13% – twice that of the core wholesale business. According to Cheng, Carsome, which claims to be the region’s largest online used-car platform by revenue and transaction volume, sold more than 150,000 vehicles last year, equivalent to a 3% market share of Southeast Asia’s used-car e-commerce market.

By the first three months of 2023 (1Q23), the group achieved its operational profitability milestone for the first time, primarily driven by a significant growth of trade margin, which doubled compared to the same period last year. “Notably, more than 80% of the trade margin came from high-quality transaction margins, far ahead of most of its global peers,” Carsome noted in a blog post. 

In terms of funding, in September 2023, Carsome secured US$170 million in Series D2 round funding, elevating the company’s valuation to US$1.3 billion. That funding round marked Carsome’s most significant equity investment, with participation from international investors such as Catcha Group, MediaTek, Penjana Kapital, and Emissary Capital, alongside existing partners like Asia Partners, Gobi Partners, 500 Southeast Asia, Ondine Capital, MUFG Innovation Partners, and Daiwa PI Partners.

The company also secured new credit facilities of US$30 million, bringing its total liquidity to approximately US$200 million, enabling the company to pursue various growth initiatives. These initiatives encompass extending auto financing, insurance, and after-sale services beyond Malaysia to other markets where Carsome operates. 

Cheng expressed to Forbes the company’s goal for the upcoming year: sustaining growth, increasing market share from 3% to 5%, and aiming for 10% in subsequent years while maintaining profitability amidst pursuing diverse opportunities. 

But should the workforce of 4,000 employees be trimmed further to achieve the company’s goals? Carsome “makes adjustments to its workforce where necessary,” the company said in an emailed response to Bloomberg, declining to comment on specific numbers. “We remain committed to investing in all of our current markets and plan to accelerate profitable growth in 2024,” it added.

Are layoffs a prerequisite to the stock market listing?

While layoffs might indicate a company’s readiness to go public, it’s not a definitive signal. Other factors, like financial challenges or shifts in business strategy, could also prompt layoffs. However, it is crucial to understand that a decision to go public doesn’t automatically signify financial stability or success for a company.

Nonetheless, it’s conceivable for companies to trim their workforce to enhance their financials before undergoing an IPO. Following the first round of layoffs last year, some avid Carsome followers expressed dissatisfaction with the startup’s direction. “Over the next quarter, we could see more layoffs coming from Carsome, all because the top management doesn’t know what to do with the money from investors,” Crazy Tan argued in a post.

But Carsome has publicly claimed its profitability, leading many to begin questioning the rationale for laying off hundreds of staff to achieve further financial gains. Perhaps Carsome is reversing its efforts after going on a hiring spree until early 2022. Now, workers are bearing the brunt of pullbacks.

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