Singapore's tech unicorn Grab will remain focused on Southeast Asian markets even after it goes public in the US, co-founder and CEO Anthony Tan told Asia Nikkei Review.
Co-founder and CEO Anthony Tan (Photo: asia.nikkei.com)
Singapore (VNA) – Singapore's tech unicorn Grab will remain focusedon Southeast Asian markets even after it goes public in the US, co-founderand CEO Anthony Tan told Asia Nikkei Review.
Noting thatinvestors describe Southeast Asia's most valuable unlisted company as acombination of tech names like Uber Technologies and Ant Financial, Tanstressed Grab will scale up its existing core businesses such as food deliveryand digital finance.
On April 13, Grab announced that it would go public through a merger with aspecial purpose acquisition company (SPAC).
Tan added the company will use the capital "to build the lowestcost and the most efficient delivery network" by investing in maps andother technology as well as "to revolutionise mobile payments,financial services and digital banking."
Through the SPAC, Grab will merge with Nasdaq-listed Altimeter GrowthCorp., which was set up under the US-based Altimeter Capital, in coming months.The listing is expected to value Grab at 39.6 billion USD and willprovide as much as 4.5 billion USD for the company.
Grab's main competitor Sea, Singapore-headquartered and New York-listed onlinegaming and e-commerce giant, is already beginning to expand into Latin Americanmarkets such as Brazil. This poses a question that Grab may also expand out ofthe region.
Tan said that Southeast Asia has nearly double the population of the US, with670 million people, and its adoption of online services, from mobility todelivery to e-payment, is still low./.
Grab Food is the most popular food delivery application in Vietnam with 79 percent market share, a report by Q&Me, an online market research service, revealed.
State-owned lender Bank Rakyat Indonesia (BRI), in cooperation with ride-hailing service provider Grab, has launched a low-interest loan facility for the latter’s drivers and merchant partners who have been impacted by the COVID-19 pandemic.
Ride-hailing firm Grab Indonesia contributed 77.4 trillion rupiah (5.45 billion USD) to the Indonesian economy last year, largely thanks to its food delivery service, while providing gig work for the country’s informal workers, according to a research conducted by the Centre for Strategic and International Studies (CSIS) and Tenggara Strategics.
As Southeast Asian ride-hailing giants Gojek and Grab are reportedly discussing a merger deal, Indonesian officials and experts have warned that a consolidation of such dominant companies may cause a market monopoly.
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.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Co-founder and CEO Anthony Tan (Photo: asia.nikkei.com) 
