This addresses challenges in managing multiple subsidiaries, including issues with consolidation, financial visibility and data accuracy, according to the company. Carousell has streamlined its month-end close process by adopting NetSuite, completing it by the fifth working day. This has enabled more timely reporting and data-driven decision-making.

The ERP system integrates modules such as NetSuite Financial Management, OneWorld and Fixed Asset Management, which the company says provide real-time visibility and standardization across the group. OneWorld facilitates management of multiple currencies and compliance requirements within a unified framework, while Financial Management and Fixed Asset Management streamline core accounting processes and asset tracking, respectively.

Carousell adds that its transition to this cloud-based service also supports its localization needs, ensuring compliance with varying financial regulations across different markets. Moreover, the integration with internal and external systems has reduced manual work and improved data accuracy.

Moving forward, Carousell plans to enhance its reporting capabilities and increase automation by exploring additional NetSuite modules, such as account reconciliation and advanced analytics, to further strengthen its finance operations.

The MilikiRumah Rent-To-Own Fund 1 aims to provide underbanked Indonesians — particularly those without fixed incomes or traditional credit histories — with a pathway to home ownership.

Founded by former PropertyGuru executives Winston Lee, Marine Novita and Lau Xin Yuan — MilikiRumah’s CEO, president director and finance director, respectively — the company is backed by such investors as Ruifeng Wealth Management and Tembusu Partners.

The company works with developers to build affordable homes in Greater Jakarta. These homes are co-owned by MilikiRumah and the developers until residents complete their payment plans. During this period, they gradually build a credit history, enabling them to qualify for a conventional mortgage.

“In undertaking our ambitious slate of national initiatives to grant homeownership to Indonesia’s underbanked, MilikiRumah, in fulfilling its core mandate of being a social impact proptech company, uplifts homeownership accessibility opportunities to Indonesia’s underbanked as an effective and significant social equaliser,” Lee said.

Toyota Motor Asia (TMA) announced the acquisition through a combination of new share subscriptions and the purchase of existing shares. Following the transaction, Astra, through its digital arm PT Astra Digital Internasional (ADI), retains majority control of ADMO with a 60% stake.

ADMO owns key used-car assets, including OLX.co.id and OLXMobbi. OLX.co.id is one of Indonesia’s largest digital retail sites for used goods and services, while OLXMobbi operates a hybrid online-to-offline used-car marketplace with more than 30 outlets and inspection centers in 10 major cities.

In 2024, Astra consolidated its used-car businesses — Mobbi, OLX Autos and Mobil88 — under the OLXMobbi brand, following its acquisition of OLX Indonesia in 2023.

Astra president director Djony Bunarto Tjondro said, “We continue to optimize our core business while investing in scalable, high-growth opportunities. The used-car market in Indonesia remains fragmented and this partnership reinforces our commitment to innovation, accessibility and providing trusted mobility solutions.”

Toyota Motor Asia deputy CEO Hao Quoc Tien echoed the sentiment, calling Astra “a trusted and long-standing partner. Through the used-car and mobility businesses, we can further our mission of providing reliable transportation to more Indonesians.”

The alliance aims to modernize Indonesia’s used-car sector by combining Astra’s extensive automotive ecosystem with Toyota’s global technology and distribution networks. The collaboration is expected to provide consumers with greater access to quality vehicles, financing, insurance and after-sales services.

In 2024, OLXMobbi reported sales of 27,000 used vehicles and expects a 10% growth in 2025, according to company director Agung Iskandar.

This partnership between Toyota and Astra represents a strategic expansion into Indonesia’s used-car market, leveraging the strengths of both companies to meet the growing demand for reliable and affordable mobility solutions in the region.

Lynn Dhia

She joins Carsome from business services and solutions provider Averis, where she was corporate communications and employer branding lead.

Earlier in her career, Dhia worked for Fraser & Neave Holdings, AirAsia Big Loyalty and Berjaya Air. She has an MBA from the University of Sunderland.

Her appointment follows the departure of CMO Ravi Shankar from Carsome in March 2024. He left to become the CMO of AirAsia Move.

Carsome recently unveiled a sponsorship deal with the Football (soccer) Association of Malaysia (FAM), becoming its “official automotive partner.”

Automotive marketplace AutoDeal.com.ph has unveiled Gift Center to reward new car buyers for posting dealership reviews to its app.

“Whether you’re just starting your car search or already comparing offers, our app makes it easy to get the best deals from over 700+ brand-new car dealers across the Philippines. Fast, simple, and now even more rewarding,” AutoDeal.com.ph co-founder Christopher Franks wrote in a LinkedIn post.

AutoDeal, which recently began to collaborate with Security Bank on online auto loans, is owned by Malaysia-based marketplaces operator Frontier Digital Ventures (FDV).

FDV operates 360 Latin America, MENA Marketplaces Group and FDV Asia. Its marketplaces include Avito.ma, CarsDB.com, Encuentra24.com, Fincaraiz.com.co, Hoppler.com.ph, IMyanmarHouse.com, Infocasas.com.uy, LankaPropertyWeb.com, Moteur.ma, PropertyPro.ng, Tayara.tn and Yapo.cl.

As part of this initiative, Carsome is migrating its operations to a unified Google Cloud platform, replacing its previous fragmented setup across multiple cloud providers. This is expected to deliver a 30% cost reduction.

This upgrade will enable faster and more reliable data processing for Carsome’s AI-driven vehicle inspections, pricing algorithms and customer experience tools, according to the company.

In addition, Carsome will utilize Google Cloud’s AI and machine learning tools, including Vertex AI, to enhance customer interactions, optimize inventory and facilitate data-driven decision-making.

The two-year agreement will see Carsome provide FAM with 15 vehicles to support the transportation needs of its men’s and women’s teams, as well as its management team.

According to Carsome, this collaboration reflects its commitment to supporting Malaysian sports and fostering national pride through football.

“This partnership goes beyond providing transport; it is our effort to drive champions forward by ensuring Malaysia’s national teams have the support and infrastructure to excel. We hope this inspires more Malaysians to stand behind our national teams and celebrate their journey,” said Carsome co-founder and CEO Eric Cheng.

“Through this partnership, we aim to enhance the football experience for players, fans, and stakeholders by fostering initiatives that promote development, accessibility, and support for the local football ecosystem,” commented FAM president Joehari Ayub.

This milestone was driven by a 25% year-on-year increase in gross profit per unit (GPU), according to the company’s news release, as reported by TechNode.

“This was driven by stronger metal margins, greater monetization of platform services, growth in ancillary services revenue and lower refurbishment and logistics costs,” the company said.

“Achieving full-year profitability is a defining milestone for Carsome as we enter our tenth year, demonstrating the strength of our business model and our ability to generate sustainable shareholder value. We look forward to continuing this momentum into 2025,” commented co-founder and CEO Eric Cheng.

Last month, Carsome unveiled a collaboration with Japan Consumer Credit Service Co., Ltd. Co. to expand financing options for retail consumers and dealers.

Carousell saw an 11% reduction in scams between June and December 2024, while Facebook Marketplace saw a 55% decrease during the same period, the Business Times reports. However, there was a 12% increase in scam reports relating to ads on Facebook.

As a result, the MHA has decided not to impose enhanced verification requirements on Carousell sellers for the time being but will extend the assessment period by an additional six months.

Should the number of e-commerce scams on Carousell not decrease significantly during this extended period, the MHA may mandate that the marketplace verify the identities of all its sellers by Oct. 1, 2025.

“While this was not a significant decrease, it was a decreasing trend, and Carousell has demonstrated willingness and proactiveness to work with us on various anti-scam measures,” the Ministry said.

The company will initially offer ten models, with plans to add electric vehicles in the future. Carro says it is targeting both private owners and private-hire vehicle drivers with its new-car listings.

“The firm’s latest fleet of parallel-imported cars will provide its customers with more automotive options at great prices, together with their in-house warranty and after-sales services provider Carro Care Powered by Jardine Cycle and Carriage, as well as its in-house financing arm, Genie Financial Services,” TechNode reports.

Founded in 2015, Carro also operates in Malaysia, Indonesia, Thailand, Japan, Taiwan and Hong Kong.

The company has more than 5,000 employees and has raised more than SGD700 million ($524 million U.S.) in funding to date.