Transportation
Grab acquires Singapore’s third largest taxi operator Trans-cab through its GrabRentals arm
Grab Holdings Limited and Trans-cab Holdings Ltd have on Thursday announced the signing of an agreement for Grab Rentals Pte. Ltd. to acquire 100 percent of the shares in Trans-cab. Trans-cab has a combined taxi and private-hire-vehicle (PHV) fleet of more than 2,500 vehicles, and is accretive on a net income basis to Grab’s business.
Carousell partners Carzuno to launch Carousell Car Subscription in Singapore
Riding on the newly-launched Carousell Certified program for cars, multi-category classifieds and recommerce marketplace Carousell is partnering car-as-a-subscription company Carzuno to launch the Carousell Car Subscription in Singapore, providing further convenience for users.
Carsome appoints former PwC Singapore chairman as first independent director
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.
Grab plans biggest job-cut round since pandemic – report
Last month, Grab said it is ‘on track’ to achieve breakeven by the fourth quarter after its losses narrowed in the first quarter.
Grab launches new features for Southeast Asia travellers
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.
Grab retires $600M in 2026 debt with extra cash – report
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 to provide incentives to boost EV sales, attract investment – report
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.
Grab has liquidity to drive operations, says S&P Global Ratings
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.
Malaysian Government drafting strategic framework to develop EV charging infrastructure – report
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…
