Latest news with #Grab
AsiaOne
10 hours ago
- Business
- AsiaOne
Johor and Grab in talks to enhance cross-border travel agreement, Singapore News
The Johor government and ride hailing company Grab are in discussions to update the Cross-Border Travel Agreement between Singapore and the Malaysian state. This aims to make travel between Singapore and Johor smoother, said Johor Chief Minister Onn Hafiz Ghazi in a statement posted to Facebook on Thursday (June 19). Stating that these discussions were raised during a recent meeting with Grab's senior management, amongst other key matters, Onn Hafiz explained that the talks form part of broader efforts to enhance Johor's tourism and transportation sectors ahead of Visit Johor Year 2026 (TMJ 2026). TMJ 2026 is a statewide campaign which aims to attract 12 million tourists to Johor and generate RM42 billion in revenue, reported Bernama. "The discussions also explored potential cross-border collaborations involving the Malaysian and Singaporean transport ministries, alongside the role of Grab and other public transport providers in facilitating smoother travel between the two countries," Onn Hafiz said. AsiaOne has reached out to Grab for more information. The Chief Minister also revealed that an integrated, physical and digital platform, which showcases must-visit attractions in Johor, was in the works. This initiative holds strong potential to help tourists access information more easily online and offline while further boosting the state's tourism sector, he said. "It will also create new income opportunities for the people, stimulate the local economy and position Johor as a modern, open and globally welcoming state." [[nid:718706]]
Rakyat Post
a day ago
- Business
- Rakyat Post
Shaping The Future Of Retail: Jaya Grocer Named Supermarket Of The Year (Malaysia) At Retail Asia Awards 2025
Subscribe to our FREE Malaysia's home-grown supermarket chain, Jaya Grocer, has been named Supermarket of the Year (Malaysia) at the Retail Asia Awards 2025, recognising the brand's innovation, technology-driven growth and strong commitment to customer experience. Since its founding in 2007 with a single outlet in Petaling Jaya, Jaya Grocer has grown into one of Malaysia's most popular names in retail, known for its curated offerings and premium shopping experience. The award highlights Jaya Grocer's strides in transforming grocery shopping through a seamless omnichannel model that bridges the digital and physical worlds. By integrating with GrabMart, the brand offers customers a digitally-enabled, on-demand experience that combines the speed of online access with the reliability of in-store shopping. 'We are grateful for this recognition, as it comes at a time when consumer expectations become more sophisticated, with faster and more personalised service increasingly becoming a benchmark – a standard that reflects the hard work of our team, the trust of our customers and the support of our partners. At Jaya Grocer, our tech-forward strategy positioned us to adapt and thrive in this shifting landscape. The integration with GrabMart enabled real-time inventory visibility and on-demand delivery, while tools such as our custom-built Picker app and automated reordering system boosted fulfilment accuracy, efficiency and access. These efforts enabled us to meet evolving customer needs, as well as overcome operational challenges with speed and precision,' remarked Daniel Teng, Chief Executive Officer of Jaya Grocer. From left to right: Joseph Teoh, Chief Business & Operations Officer; Kimberly Xavier, Director, Strategy & Supply Chain; Daniel Teng, Chief Executive Officer; Tan Kee Tatt, Head of Merchandising (non-food); Kantan Kolandivellu, Head of Merchandising (food). The supermarket chain's growth trajectory has been reinforced by cultivating customer loyalty and strong partnerships. With over 1.5 million members in its loyalty programme and close collaboration with partners like Grab, Jaya Grocer continues to grow by prioritising innovation, technological advancement and service excellence. Jaya Grocer's development strategy is built on leveraging technology to enhance every touchpoint of the customer journey. Automated smart features offer personalised recommendations and reordering options based on past behaviour, while the Picker app ensures order accuracy and efficient delivery. Real-time updates help maintain consistent prices and promotions across channels. At the same time, data from shopping patterns is used to optimise inventory, reduce waste and anticipate demand, maximising freshness and setting new benchmarks for modern grocery retail in Malaysia. Commenting on the win, Teng added: 'This award means the world to us. It reflects the dedication of our amazing team, the support of our valued customers, and strong collaboration with our partners who share our vision. Looking ahead, Jaya Grocer plans to continue enhancing our digital ecosystem and expanding to more communities across Malaysia, making smart, convenient grocery shopping the everyday standard – for every single customer.' Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Business Times
a day ago
- Business
- Business Times
Grab-GoTo merger talks face Indonesian regulatory hurdles: sources
[JAKARTA/SINGAPORE] Singapore-based Grab's plan to acquire Indonesia's GoTo to create a dominant South-east Asian ride hailing and food delivery company has run into regulatory hurdles, three sources said, casting a cloud over a potential deal. Reuters reported in May Nasdaq-listed Grab was looking to strike a deal to buy smaller rival GoTo in the second quarter and had hired advisers to work on the proposed acquisition. A deal could value GoTo at around US$7 billion. The two companies now need more time to agree on a deal after the Indonesian government proposed some conditions for the plan to go through, said the three sources, who have knowledge of the deal discussions. The Indonesian government is examining how the potential merger would impact job welfare and market competition in South-east Asia's biggest and most populated economy, said two of the sources. In May, hundreds of ride-hailing drivers and riders joined protests in several cities across Indonesia over low wages and to oppose a Grab-GoTo merger, fearing the creation of a monopoly that would lead to job cuts and raise prices for consumers. The government also wants the merged entity to guarantee more benefits, such as better fees and bonuses to riders and drivers, said one of the sources, who did not wish to be identified as the deal talks are confidential. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Grab said last week it stood by its previous statement that it was not involved in any discussions for a potential transaction with GoTo and has not entered into any definitive agreements. Separately, Grab also raised US$1.5 billion in a convertible notes offer, citing acquisitions among the capital's intended uses. GoTo, which is trading at a valuation of US$4.4 billion, referred Reuters to its previous regulatory disclosures that there has been no agreement with any party about a potential transaction. Indonesia's transport ministry declined to comment. Optimising operations GoTo is 73.90 per cent-owned by foreign investors, including SoftBank Group and Taobao China Holding, a unit of China's Alibaba Group, with the rest owned by Indonesian investors, according to its 2024 annual report. SoftBank's SVF GT Subco (Singapore) and Taobao are GoTo's top two shareholders, holding 7.65 per cent and 7.43 per cent stakes, respectively, the report showed. When asked to comment on a potential deal involving GoTo and Grab, Sufmi Dasco Ahmad, the deputy speaker of the Indonesian parliament, told Reuters the government wants GoTo to be majority-owned by Indonesians. Dasco, who is also a senior member of Indonesia President Prabowo Subianto's ruling party, did not detail how GoTo can be majority-owned by Indonesians. He also did not comment on any conditions the government has set for the potential merger. Deputy Indonesian manpower minister Immanuel Ebenezer, whose agency oversees employment, said he has no information on any conditions set for a Grab-GoTo merger. A merger would enable the two companies, which, according to LSEG data, have been posting annual net losses since their IPOs, to cut costs by optimising operations. Grab, with a current market value of about US$19 billion, is currently worth about half the US$40 billion when it merged with a blank-cheque company to list on the Nasdaq in December 2021. REUTERS
Malay Mail
a day ago
- Business
- Malay Mail
Indonesian regulatory roadblocks stall Grab's US$7b mega play for GoTo, sources say
SINGAPORE, June 19 — Singapore-based Grab's plan to acquire Indonesia's GoTo to create a dominant South-east Asian ride hailing and food delivery company has run into regulatory hurdles, three sources said, casting a cloud over a potential deal. Reuters reported in May Nasdaq-listed Grab was looking to strike a deal to buy smaller rival GoTo in the second quarter and had hired advisers to work on the proposed acquisition. A deal could value GoTo at around US$7 billion (RM29.8 billion). The two companies now need more time to agree on a deal after the Indonesian government proposed some conditions for the plan to go through, said the three sources, who have knowledge of the deal discussions. The Indonesian government is examining how the potential merger would impact job welfare and market competition in South-east Asia's biggest and most populated economy, said two of the sources. In May, hundreds of ride-hailing drivers and riders joined protests in several cities across Indonesia over low wages and to oppose a Grab-GoTo merger, fearing the creation of a monopoly that would lead to job cuts and raise prices for consumers. The government also wants the merged entity to guarantee more benefits, such as better fees and bonuses to riders and drivers, said one of the sources, who did not wish to be identified as the deal talks are confidential. Grab said last week it stood by its previous statement that it was not involved in any discussions for a potential transaction with GoTo and has not entered into any definitive agreements. Separately, Grab also raised US$1.5 billion in a convertible notes offer, citing acquisitions among the capital's intended uses. GoTo, which is trading at a valuation of US$4.4 billion, referred Reuters to its previous regulatory disclosures that there has been no agreement with any party about a potential transaction. Indonesia's transport ministry declined to comment. Optimising operations GoTo is 73.90 per cent-owned by foreign investors, including SoftBank Group and Taobao China Holding, a unit of China's Alibaba Group, with the rest owned by Indonesian investors, according to its 2024 annual report. SoftBank's SVF GT Subco (Singapore) Pte Ltd and Taobao are GoTo's top two shareholders, holding 7.65 per cent and 7.43 per cent stakes, respectively, the report showed. When asked to comment on a potential deal involving GoTo and Grab, Sufmi Dasco Ahmad, the deputy speaker of the Indonesian parliament, told Reuters the government wants GoTo to be majority-owned by Indonesians. Dasco, who is also a senior member of Indonesia President Prabowo Subianto's ruling party, did not detail how GoTo can be majority-owned by Indonesians. He also did not comment on any conditions the government has set for the potential merger. Deputy Indonesian manpower minister Immanuel Ebenezer, whose agency oversees employment, said he has no information on any conditions set for a Grab-GoTo merger. A merger would enable the two companies, which, according to LSEG data, have been posting annual net losses since their IPOs, to cut costs by optimising operations. Grab, with a current market value of about US$19 billion, is currently worth about half the US$40 billion when it merged with a blank-check company to list on the Nasdaq in December 2021. — Reuters
Yahoo
a day ago
- Business
- Yahoo
Grab-GoTo merger talks face Indonesian regulatory hurdles, sources say
By Stefanno Sulaiman, Yantoultra Ngui and Fanny Potkin JAKARTA/SINGAPORE (Reuters) -Singapore-based Grab's plan to acquire Indonesia's GoTo to create a dominant Southeast Asian ride hailing and food delivery company has run into regulatory hurdles, three sources said, casting a cloud over a potential deal. Reuters reported in May Nasdaq-listed Grab was looking to strike a deal to buy smaller rival GoTo in the second quarter and had hired advisers to work on the proposed acquisition. A deal could value GoTo at around $7 billion. The two companies now need more time to agree on a deal after the Indonesian government proposed some conditions for the plan to go through, said the three sources, who have knowledge of the deal discussions. The Indonesian government is examining how the potential merger would impact job welfare and market competition in Southeast Asia's biggest and most populated economy, said two of the sources. In May, hundreds of ride-hailing drivers and riders joined protests in several cities across Indonesia over low wages and to oppose a Grab-GoTo merger, fearing the creation of a monopoly that would lead to job cuts and raise prices for consumers. The government also wants the merged entity to guarantee more benefits, such as better fees and bonuses to riders and drivers, said one of the sources, who did not wish to be identified as the deal talks are confidential. Grab said last week it stood by its previous statement that it was not involved in any discussions for a potential transaction with GoTo and has not entered into any definitive agreements. Separately, Grab also raised $1.5 billion in a convertible notes offer, citing acquisitions among the capital's intended uses. GoTo, which is trading at a valuation of $4.4 billion, referred Reuters to its previous regulatory disclosures that there has been no agreement with any party about a potential transaction. Indonesia's transport ministry declined to comment. OPTIMISING OPERATIONS GoTo is 73.90%-owned by foreign investors, including SoftBank Group and Taobao China Holding, a unit of China's Alibaba Group, with the rest owned by Indonesian investors, according to its 2024 annual report. SoftBank's SVF GT Subco (Singapore) Pte Ltd and Taobao are GoTo's top two shareholders, holding 7.65% and 7.43% stakes, respectively, the report showed. When asked to comment on a potential deal involving GoTo and Grab, Sufmi Dasco Ahmad, the deputy speaker of the Indonesian parliament, told Reuters the government wants GoTo to be majority-owned by Indonesians. Dasco, who is also a senior member of Indonesia President Prabowo Subianto's ruling party, did not detail how GoTo can be majority-owned by Indonesians. He also did not comment on any conditions the government has set for the potential merger. Deputy Indonesian manpower minister Immanuel Ebenezer, whose agency oversees employment, said he has no information on any conditions set for a Grab-GoTo merger. A merger would enable the two companies, which, according to LSEG data, have been posting annual net losses since their IPOs, to cut costs by optimising operations. Grab, with a current market value of about $19 billion, is currently worth about half the $40 billion when it merged with a blank-check company to list on the Nasdaq in December 2021. ($1 = 16,295.0000 rupiah) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
