Taking a leaf from Bukalapak's leadership playbook

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} One of the underappreciated responsibilities of running a publicly listed company is the earnings call, where analysts get to ask management questions about the business. Each tech firm has its own way of doing these calls. For instance, Sea Group CEO Forrest Li, rather unusually, doesn’t take part in the Q&As. Instead, Yanjun Wang, the company’s group chief corporate officer, handles this. Grab takes a collective approach, with answering duties split between CEO Anthony Tan, COO Alex Hungate, and CFO Peter Oey. Tuning in to Bukalapak’s Q1 earnings call a few weeks ago, I was struck by how its president, Teddy Oetomo, was fielding questions on his own and seemed to know the answers like the back of his hand. But that likely speaks to the level of preparation involved in these calls. A lot of discipline is required - frankly, not all the questions that executives get are edifying. During the Bukalapak call, someone asked whether the company would consider returning its excess cash to investors. I found myself silently answering on behalf of Oetomo: “If that’s what you’re after, why not invest in a telco instead?” Oetomo, of course, was a lot more diplomatic in his response. And Bukalapak does have what seems like a good opportunity to deploy capital - its Mitra business, which my article takes a closer look at. While growth has slowed and competitors have downsized or left the market, Bukalapak can build on its competitive strengths and potentially even expand beyond Indonesia. While profitability is now table stakes for tech companies, investors should give management some leeway to make investments they think will drive growth going forward. Otherwise, they could look elsewhere: Verizon is offering a juicy 7% dividend. -- [Simon Huang]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Bukalapak seizes ‘great opportunity’ in Mitra as rivals like GoTo exit]( While Bukalapak’s Mitra business has shrunk, it’s part of a deliberate effort to bring the unit to a position that’s contribution margin-positive. 2. [SEA’s major tech stocks compared: Sea Group soars, Bukalapak sinks]( A strong performance by these stocks won't just benefit investors' pockets. 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