Grab continues to burn cash

[bushtucker]

Latest I heard is that they are planning to restructure. They owe many banks money and intend to do a Hyflux before bankers file them bankrupt. They got three plans, offload business arm X for money, but they can't get a good deal. They are also exploring to spin-off business arm X to allocate shares in the new listing to satisfy grouchy shareholders in US who intends to sue them. Most smelly is to file for Chapter 11, continue do business and management get paid, and reorganize (reduce) debts with the banks.

Business arm X is referring to the food delivery service or the private hire service?

 

[tanwahtiu]

SoftBank Shareholders Push For Grab, Gojek Deal In Indonesia
https://www.pymnts.com/news/partner...olders-push-for-grab-gojek-deal-in-indonesia/

Investors are asking SoftBank to help align Southeast Asia’s ride-hailing unicorns Grab and Gojek, The Financial Times reported, citing sources.

In the past 18 months, both startups were vying for new customers, especially in Indonesia, the world’s fourth-most populous country and the most profitable market for the two firms. Gojek, headquartered in Jakarta, is backed by Tencent and Google, among others. Grab, based in Singapore, counts SoftBank and Microsoft among its investors.

“The forces at play here are higher than simply what Grab or Gojek want — or indeed don’t want. This is about a number of long-term influential shareholders in both companies who want to either stem the losses or find a way to exit their investments,” said one Grab investor.

Talks between the two competitors have been ongoing for two years, but there is a “new urgency,” the sources said.

Although SoftBank founder Masayoshi Son recently went to Jakarta for “exploratory discussions,” the sources said it’s “unclear” what kind of deal SoftBank is looking for. Son said last year that “rescues” are now part of the past. The talks point to the changing environment in Asia, where profits were given a backseat to the growth of entrepreneurs and investors.

Singapore is a sin city... stick to sin trades will do well...

A small sin city want to go big.... wait long long... maybe start big with Indo porn... a sin trade...

 

[Byebye Penis]

Grab's digital bank executive left
https://www.bloomberg.com/news/arti...gibank-executive-reuben-lai-to-depart-venture

 

[Byebye Penis]

Grab to cut travel budget, freeze most hiring and salaries of senior managers; CEO calls for 'frugal and prudent mindset'​

https://www.todayonline.com/singapo...-ceo-calls-frugal-and-prudent-mindset-2072446

 

[oliverlee]

Grab is insolvent. Crashed below US$3 last night again. If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.

The same standards applicable to SGX? Is that why some businesses will only public list in Sg cos they know implicitly their business is shit

 

[Byebye Penis]

The same standards applicable to SGX? Is that why some businesses will only public list in Sg cos they know implicitly their business is shit

We reward financial scammers for risk-taking.

we will issue stern warnings or issue a fine that equates to a tiny portion of the fraud amount. Singapore is like that.