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Grab in cost-cutting mode as economic uncertainty looms
Grab rolls out cost-cutting measures to cope with an uncertain macroeconomic situation, including a freeze on most hirings and cuts in travel, expense budgets. Read more…
Grab
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Grab promises investors it will be profitable by end-2024
Grab has been on a downward spiral since its SPAC merger in December, but CEO Anthony Tan told investors the firm aims to break even by the second half of 2024. Read more…
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Grab – no mass layoffs despite weak market
Grab, Southeast Asia’s biggest ride-hailing and food delivery firm does not envisage mass layoffs as some rivals have done and is selectively hiring. Read more…
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Be Group gears up to challenge Grab’s supremacy in Vietnam
Ride-hailing competition in Vietnam is set to intensify as Be Group secures a $60 million loan from Deutsche Bank to challenge existing market leader Grab. Read more…
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Grab/SingTel’s GXS launches Singapore’s first digital bank
GXS Bank, the digital bank joint venture of ride-hailing firm Grab and SingTel, launched Singapore’s first digital bank on Wednesday for the retail market. Read more…
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Grab fintech execs quit after rejig of loss-making GrabFin unit
Two top executives at Grab Holdings’ fintech business (GrabFin) have quit, adding to other senior departures in recent months. Read more…
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Grab and Sea among winners of digital banking licenses in Malaysia
Bank Negara Malaysia (BNM) has issued digital banking licenses to five players, including consortiums led by Grab-Singtel and Sea. Read more…
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Grab and Sea plot comeback strategies as market caps nosedive
Grab and Sea Ltd sink to the bottom of the MSCI Asean Index and lose a combined $71 billion in market value. They have plans to get it back. Read more…
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Grab shares crash after drop in revenue and higher incentives
Shares in Grab tumbled 37% a worse-than-expected drop in revenue, hit by promotional offers and higher driver incentives. Read more…
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SE Asia unicorn Grab lists on Nasdaq after successful SPAC merger
Grab officially lists on Nasdaq as a merged entity with SPAC Altimeter Growth, giving US investors a new chance to invest in Southeast Asia. Read more…
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Grab will more than double its stake in Indonesian e-wallet OVO
Southeast Asian ride-hailing and payments firm Grab will more than double its stake in Indonesian e-wallet OVO to 90%, pending approval. Read more…
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Will Singapore’s Grab maintain its record SPAC valuation after US listing?
Singapore’s Grab more than doubled its valuation as part of the world’s largest SPAC deal, but will it that level after its US debut? Read more…
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Grab grabs a merger valuation of almost $40bn paving way for US listing
Grab has agreed a merger with Altimeter Growth Corp securing a valuation of nearly $40 billion and paving the way for a coveted US listing. Read more…
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Southeast Asian ride-hailing, food delivery giant Grab exploring US listing
Southeast Asian ride-hailing and food delivery giant Grab is exploring a listing in the US, encouraged by robust investor appetite for IPOs. Read more…
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Grab raises more than $300 million from investors for its fintech business
Southeast Asian ride-hailing and food delivery giant Grab has raised more than $300 million from investors led by Hanwha Asset Management. Read more…
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Singapore hands out first digital licences in big banking shakeup
A number of consortiums have won licences to run Singapore’s first digital banks, in the city-state’s biggest banking shakeup in two decades. Read more…
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Singapore’s Grab reports revenue risen <95% of pre-COVID-19 levels
Singapore’s Grab third-quarter revenue had risen to more than 95% of pre-COVID-19 levels, reflecting increased demand for food delivery. Read more…
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Grab in advanced talks to raise $300-500 mn for its financial services unit
Southeast Asia’s Grab is in advanced talks with companies as it seeks $300-500 million in investment for its financial services unit. Read more…
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Grab to offer consumer loans and wealth management in Singapore
Grab says it will offer consumer loans services in Singapore and roll-out wealth management products in the fast-growing but crowded sector. Read more…
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Indonesia’s anti-trust watchdog fines Grab more than $3 million
Indonesia’s anti-trust watchdog fines Grab and business partner more than $3 million after finding it guilty of breaking anti-monopoly laws. Read more…