Transportation

Southeast Asia’s largest integrated car eCommerce platform Carsome Group Inc. has on Monday announced the appointment of Yeoh Oon Jin to its board as its first Independent Director, effective from June 30, 2023.

Last month, Grab said it is ‘on track’ to achieve breakeven by the fourth quarter after its losses narrowed in the first quarter.

Grab, Southeast Asia’s leading superapp, has on Monday announced new in-app travel innovations and partnerships to give travellers a safe, seamless and hyperlocal experience as Southeast Asia embraces a travel comeback.

The Singapore-based ride-hailing and delivery company completed the transaction last week, bringing its debt under an outstanding term loan to $517 million, down from the previous balance of $1.117 billion. Grab also has about $200 million in other bank debt.

Indonesia is always keen to develop domestic EV production facilities to take advantage of its rich nickel reserves, an important material to produce EV batteries.

The stable rating outlook on Grab reflects S&P Global Ratings' view that the company will maintain sufficient liquidity to tide it through until it reaches positive EBITDA and cash flow by 2025.

The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to…

Zoomcar, the India-based marketplace for car sharing, has on Wednesday announced the appointment of Delly Nugraha as its Country Head for Indonesia. Indonesia is expected to be the second largest market for Zoomcar after India and Delly in his new role will be responsible for all aspects of growth, operations, and to build the company’s best achievement in…

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