Sea posts net loss of US$523.6m in Q4 FY20

Singapore

SINGAPORE-BASED Sea Ltd sank further into the red for its fourth-quarter ended Dec 31, 2020, posting a net loss of US$523.6 million, deeper than the net loss of US$283.8 million in the year-ago period.

In results announced on Tuesday, the gaming and e-commerce giant also said in an update that it is establishing Sea Capital, a platform to manage Sea's overall investment efforts, and will be allocating an initial US$1 billion to be deployed by the platform over the next few years.