for thailand, taladrod and one2car has 'closed' the market, you can see icar's thaicar.com traffic going nowhere. for indonesia, the monopoly service is OLX and a few others, mobil123 is nowhere. furthermore, rocket internet (zalora, lazada) has already penetrated the other asean countries and had a head start. i believe this is the real reason catcha is cashing out.

with regards to what JT Yeo says, it only applies when there isn't such a monopoly service already in the first place. the idea of icar would work maybe 5 to 8 years ago, but not anymore.

this is because the used car classifieds market in malaysia "tutup" long ago by mudah.my for online and motortrader for print. just go down to the used car dealers and ask them which classifieds gives them real leads.