E-commerce firm Shopee admitted to violating competition law, agreed to adjust its practices, Indonesia says [CNBC]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: CNBC
Shopee is the e-commerce arm of Southeast Asian tech giant Sea Limited “Shopee and Shopee Express admitted that they had violated Law no. 5 of 1999, regarding delivery (courier) services on the Shopee platform by agreeing to various behavioral change points determined by the KPPU Council in the hearing yesterday,” Indonesia Competition Commission Komisi Pengawas Persaingan Usaha said in a Google-translated statement KPPU said Shopee proposed adjustments to its current practices on June 20 which were approved by the commission council. “Shopee Indonesia attended a meeting with KPPU on 25 June to discuss points of the integrity pact that was shared by KPPU last week. On 20 June, Shopee proposed changes to our user interface to enhance our services and demonstrate our compliance in providing the best services to our users, in accordance with the feedback provided and approved by the KPPU,” Radynal Nataprawira, head of public affairs at Shopee Indonesia, told CNBC in emailed commen
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