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.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Co-founder and CEO Anthony Tan (Photo: asia.nikkei.com) 
