Singapore's Grab Holdings has raised its forecast for fiscal 2024 revenue, as the firm anticipates robust growth in its food delivery and ride-hailing business services during the busy holiday season.
Grab expects its revenue for fiscal year 2024 to be in the range of 2.76 billion to 2.78 billion USD. (Photo: The Business Times)
Hanoi (VNA) - Singapore's Grab Holdings has raised its forecast for fiscal 2024 revenue, as the firm anticipates robust growth in its food delivery and ride-hailing business services during the busy holiday season.
US-listed shares of the company jumped more than 10% in extended trading.
Grab's mainstay food delivery business has been recovering from a post-pandemic slump in demand as consumers increase their discretionary spending budgets in a sign of economic easing.
Grab CEO Anthony Tan said the firm remains bullish on the long-term growth outlook of Southeast Asia, and is firing on all cylinders to capture the strong user demand trends.
The company expects revenue in the range of 2.76 billion to 2.78 billion USD, compared with its prior projection of between 2.70 billion and 2.75 billion USD.
Grab has been attempting to introduce cheaper options for its ride-hailing services to woo price-wary customers. On the other hand, the firm has been trying to promote its premium offerings as well to boost its earnings.
Grab reported third-quarter revenue of 716 million USD, exceeding Visible Alpha estimates of 700.8 million USD.
The firm also raised its annual core profit forecast to between 308 million and 313 million USD, from 250 million and 270 million USD.
✅ Revenue in the deliveries segment increased 16% to 380 million USD, surpassing estimates of 374.2 million USD./.
Vietnam’s ride-hailing market value is estimated at 880 million USD in 2024 and expected to reach 21.6 billion USD by 2029, growing at a compound annual growth rate of 19.5% during the forecast period, according to a recent report by India-based market research firm Mordor Intelligence.
From November 9, residents in Vientiane capital city and foreign tourists to Laos can easily book an electric taxi of Green & Smart Mobility (GSM), a Vietnamese ride-hailing company, through the Xanh SM Laos application on the App Store and Play Store, or also rent an electric car directly on the road.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
