Grab
Grab reports first quarterly profit; to buy back shares
Southeast Asia superapp Grab Holdings Limited has posted a profit of $11 million in the fourth quarter ended December 31, 2023, compared to a net loss of $391 million in the prior year period. The achievement was primarily due to the improvement in group adjusted EBITDA, fair value changes in investments, and lowered share-based compensation expenses.
Philippine government, Grab working to legalize motor taxis – report
GrabCar operates in 25 cities while GrabFood provides services to more than 100 cities nationwide, according to the report.
GoTo denies merger talks with Grab – report
The news came after Bloomberg reported last week that the companies had restarted discussions for a merger.
Foodpanda’s parent Delivery Hero denies sale talks have collapsed – report
“There are market rumours that the negotiations for the potential sale have collapsed,” Deliver Hero said in a statement, according to the report. “We confirm that the negotiations for the potential sale are ongoing.”
Grab Malaysia claims it sees delivery-partners benefitting from new earning structure during peak-demand periods amid riders’ protest
Their main demand is for Grab to reinstate the previous base fare of MYR5 ($1.06) for deliveries within the Klang Valley, which was reduced to MYR4 ($0.85) earlier this week, the report added.
Grab Malaysia defends revamped delivery fee framework amid riders’ protest call
Grab Malaysia said that to strike a balance between all its stakeholders, the company constantly seek to review its policies to provide a fairer, more stable earnings to those who need it the most.
[Year in review] Southeast Asia’s Top 10 tech news in 2023
As we usher into 2024, with the hope for a better year, here are some of the top tech news in 2023.
TNGlobal’s Top 10 most-read news articles in 2023
The global wave of layoffs hitting US tech companies like Meta, Amazon, and Twitter has also come to Southeast Asia amid a slowdown in fundraising activities for tech startups. Tech companies including venture capital-backed startups in Southeast Asia have also announced layoffs and austerity measures to cope with the uncertain macroeconomic situation.
TNGlobal’s Top 10 most-read analysis & feature articles in 2023
It’s the time of the year again as we take a look back at what happened throughout 2023 in the tech and startup scene in Southeast Asia.
Ant International, Grab, StraitsX collaborate to enable cross border payments with Purpose Bound Money for local merchants
Ant International, Grab, and StraitsX (part of Fazz) have on Thursday announced a collaboration to look into the potential for Purpose Bound Money (PBM) to be applied to cross border payments. If successful, this advancement in cross border payment capabilities will expand PBM use cases with the aim of launching in Singapore in 2024.
