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For Singapore, is Grab too big to fail?
The Republic’s largest ride-hailing firm touches many aspects of our lives, so it is worth asking how much disruption we would face if it were ever to exit the market.
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Grab may continue to serve us for many more years, but it is not too big to exit, says the writer.
ST PHOTO: LIM YAOHUI
Lee Kwok Hao
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In February, investors in Grab breathed a collective sigh of relief. As the pre-eminent digital technology and ride-hailing company in South-east Asia, Grab finally posted a profit of US$11 million
Grab’s profits were driven in part by deliveries, which grew 13 per cent year on year, said chief financial officer Peter Oey. More generally, since its inception in 2012, Grab has largely prioritised growth over profitability, though of late, the company has exercised prudence with costs, given economic headwinds.
