Grab

Tada is one of five ride-hailing platforms licensed by the Singapore Land Transport Authority over the past five years. It secured a ride-hailing licence from Thailand's Department of Land Transportation earlier this year.

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.

GrabCar operates in 25 cities while GrabFood provides services to more than 100 cities nationwide, according to the report.

The news came after Bloomberg reported last week that the companies had restarted discussions for a merger.

“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.”

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 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.

As we usher into 2024, with the hope for a better year, here are some of the top tech news 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.

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.