iCar Asia Ltd
(ASX:ICQ) says its quarterly cash collections have increased by 45% year-on-year, totaling $1.9 million.
iCar is a Malaysia-based online classifieds operator. The company says this growth was driven by increased momentum in Thailand, and its Indonesian business through the key seasonal car buying period.
The company also says its net operating cashflow for the quarter was $3 million, which is 7% lower compared to same period last year.
Also, iCar has appointed Hamish Stone as its new CEO.
iCar Asia reported a net loss of $12.5 million at 31 December 2015.
