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Better service, ruthless cost-cutting measures critical in Grab’s profitability drive
The South-east Asian tech darling has made strides in improving ride-hailing, delivery and financial services but faces headwinds in maintaining the positive momentum
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Recent steps taken by Grab suggest that the South-east Asian tech darling may achieve profitable growth in 2023.
PHOTO: ST FILE
Kevin Koh and Tong Yen Hee
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Amid a global tech rout in 2022, investors have severely punished South-east Asia’s high-profile tech companies including Grab, GoTo and Sea Limited.
These companies once gave investors exposure to South-east Asia’s booming e-commerce sector during a period of huge demand for growth stocks, but rising interest rates and the growing risk of an economic slowdown have since taken a toll on their share prices.
