Tiki sees fiscal year 2022 net loss exceed $116 mln
Vietnam’s largest homegrown e-commerce site Tiki has reported a net loss of $116.25 million in the fiscal year that finished on March 31, 2022.
This is based on regulatory filings for Singapore-based Tiki Global Pte. Ltd., which was formed in May 2021 and currently owns a more than 90% stake of the Vietnam platform.
As of May 31, 2022, Tiki’s total liabilities exceeded its total assets by $168.9 million, according to the filings.
In Vietnam, Tiki is headquartered in Ho Chi Minh City. The name stands for two Vietnamese words that translate as “searching and economical”.

Tiki is a popular online retail site in Vietnam. Photo courtesy of the firm.
Shinhan Financial Group announced last May it had acquired 10% of the e-commerce platform for an undisclosed amount in a fresh move to expand outside financial services. The Korean giant said its two units - Shinhan Bank and Shinhan Card - divided the purchased stake at roughly 7% and 3%, respectively. The deal made the group the third-largest shareholder in Tiki.
According to the regulatory filings for Singapore-based Tiki Global Pte. Ltd., the Shinhan investment is around $90 million.
Tiki was founded in 2010 by Tran Ngoc Thai Son with his own $5,000 or so. The software engineer, who holds a Master’s degree (University of New South Wales, Australia), wrote the code himself, purchased about 100 English books from Amazon, then delivered them on his motorbike in HCMC, Vietnam’s southern economic hub.
Japan’s Sumitomo Corp. in 2013 became a strategic partner, holding a 30% stake and making Tiki the first e-commerce firm in Vietnam to receive investment from the Japanese company.
Tiki in late 2021 secured $258 million in a series E fundraising led by AIA. The American insurance group invested $60 million to become Tiki’s exclusive insurance partner, which provides health and life insurance services for clients through the e-commerce site.
Other investors in this round include Taiwan’s second-largest telecom operator Taiwan Mobile, UBS AG, Korean investment fund Mirae Asset, AppWorks, and existing investor STIC Investments.
For its own part, Taiwan Mobile said that time the firm made its first foray into Vietnam to seek a foothold there by investing $20 million into Tiki, paving the way for its upcoming business in Southeast Asia.
“The strategic cooperation with Tiki is the company’s first investment in Vietnam. It also marks the company’s first strategic and meaningful step to make inroads into the country and greater Southeast Asian markets,” Taiwan Mobile president Jamie Lin said in a release dated August 10, 2021.
The Taiwanese firm added the cooperation would also help its e-commerce subsidiary, Momo.com Inc, explore potential partners and new growth opportunities beyond Taiwan.
Though Tiki is Vietnam’s largest homegrown e-commerce site, it is the second most popular in terms of hits, behind rival Shopee of Singapore’s Sea Ltd. It also seeks to compete with Alibaba-backed Lazada.
- Read More
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
Hanoi aims to break ground on $11.4 bln Red River Boulevard & Landscape project by Jan 2026
A consortium of “tunnel king” Deo Ca Group and real estate developer Van Phu Invest has been assigned by the Hanoi People’s Committe to prepare an investment proposal for the VND300 trillion ($11.37 billion) Red River Boulevard & Landscape project.
Real Estate - Mon, September 15, 2025 | 7:55 am GMT+7