Two Senior Grab Executives Quit as Company Rejigs Unit to Stem Losses

[Johnrambo]

Two top executives at Grab Holdings' fintech business have quit, adding to other senior departures in recent months, as the Southeast Asian ride-hailing and delivery firm rejigs the key unit at the loss-making group, two sources said.


Chris Yeo, who heads Grab's payments and rewards business and has been with the company for nearly six years, is leaving along with Jeffrey Goh, who leads the payments gateway business, the sources familiar with the matter told Reuters.


Both Yeo and Goh worked at the Grab Financial Group's GrabFin unit, which provides digital payments, financing, insurance, rewards, and wealth management services, and is an important plank of Grab's regional growth strategy.


The latest executive departures come as Grab's losses rose to $3.6 billion in 2021 from $2.7 billion a year earlier, while revenue rose 44%, with investors focusing on how the firm plans to stem losses.

More at https://shrtcô.de/4rWg3p

 

[SBFNews]

Sooner or later will collapse.

 

[Rogue Trader]

With their resume, should be able to walk into any bank or fintech startup

 

[LexLuthor]

T

Sooner or later will collapse.

Grab needs someone with the right calibre to add the finishing touch:

 

[Scrooball (clone)]

Chris Yeo, who heads Grab's payments and rewards business and has been with the company for nearly six years, is leaving along with Jeffrey Goh, who leads the payments gateway business, the sources familiar with the matter told Reuters.

No wonder the Grab rewards so shit. U got to spend like thousands of dollars on food deliveries before u can redeem some half fuck shit!

 

[jw5]

No wonder the Grab rewards so shit. U got to spend like thousands of dollars on food deliveries before u can redeem some half fuck shit!

Forget about redeeming rewards.

 

[Scrooball (clone)]

 

[congo9]

I wonder how much are they paid?

 

[congo9]

I can certainly make grabpay a good product.

I find that the payment system still lacks in terms of coverage and usability. I went overseas and attempt to use the QR CODE on the grab app for payment. It does not goes go through at all. Plus the rate of exchange is bad, for example from sgd to RM. The lousy rate charge is a big turn off. I return to use my YouTrip card.

There's lots of potential in the payment system. But it must not be fragmented and cannot be bog down by in compatibility across borders and country.

 

[realDonaldTrump]

Grab has no focus, they pretty much don't know what is their corporate goal, so they expended their rounds all over.

Hit US$2.42 last night, your DBS and Maybank still asked you to buy more. When it falls below US$1, they have to delist from Nasdaq.

Marketplace Rule 4310(c)(8)(E) states that, “Nasdaq may, in its discretion, require an issuer to maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days, but generally no more than 20 consecutive business days https://www.sec.gov/Archives/edgar/...E) states that,the issuer has demonstrated an

 

[congo9]

Grab has no focus, they pretty much don't know what is their corporate goal, so they expended their rounds all over.

Hit US$2.42 last night, your DBS and Maybank still asked you to buy more. When it falls below US$1, they have to delist from Nasdaq.

Marketplace Rule 4310(c)(8)(E) states that, “Nasdaq may, in its discretion, require an issuer to maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days, but generally no more than 20 consecutive business days https://www.sec.gov/Archives/edgar/data/1310094/000119312508178483/dex102.htm#:~:text=Marketplace Rule 4310(c)(8)(E) states that,the issuer has demonstrated an

If the share price of the company can tumble so much, I think you can pretty forget about the share.

Unless ELON Musk force a major takeover and Grab is under his leadership. Then it will be different. Imagine you are on space, u order grab food or grab rocket to deliver the favorite food to you. It will be a whole new dimension.

 

[syed putra]

The billion dollar investors in temasick and softbank caused thrm to lose focus. The investors more or less in control. If they had grown organically, i think they can control operational cost and not forced to think about returns so much.

 

[realDonaldTrump]

US$2.32 last night.
A lot of lawsuits by shareholders

Allegations against GRAB include that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Grab's driver supply declined during the third quarter; (2) as a result, Grab continued to invest heavily in driver and consumer incentives to "preemptively recalibrate driver supply"; (3) as a result, the Company's financial results would be adversely impacted, including, among other things, a significant decline in revenue; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
https://stockhouse.com/news/press-r...ncent-wong-notify-investors-of-a-class-action

Others:
https://www.benzinga.com/pressrelea...lders-with-losses-on-their-investment-in-grab
https://www.lawyer-monthly.com/2022...-and-encourages-investors-to-contact-the-firm
https://www.prnewswire.com/news-rel...-holdings-limited---grab-grabw-301547304.html

 

[syed putra]

During lockdowns, grab can demand up to 30% commission from restaurants. Lockdowns are over. Restaurants got their walk in customers again. Some have stopped or could not be bothered with food delivery as its disrupting their operations.

 

[realDonaldTrump]

During lockdowns, grab can demand up to 30% commission from restaurants. Lockdowns are over. Restaurants got their walk in customers again. Some have stopped or could not be bothered with food delivery as its disrupting their operations.

For ride-hail, Grab is more expensive than Gojek because of their mark-ups.

As for food delivery service, Grab is better than Foodpanda and deliveroo is the worst. However food delivery alone cannot save Grab.

 

[syed putra]

For ride-hail, Grab is more expensive than Gojek because of their mark-ups.

As for food delivery service, Grab is better than Foodpanda and deliveroo is the worst. However food delivery alone cannot save Grab.

The6 need to deliver hookers too. And plumbers, massage, , electrician. All can be added to their service.

 

[HeMan]

The6 need to deliver hookers too. And plumbers, massage, , electrician. All can be added to their service.

Ah Leong sista forum already had whores, so cannot

 

[syed putra]

Ah Leong sista forum already had whores, so cannot

Gojek does this and i believe its profitable, but they delivered by motorbikes.
Grab may eventually be taken over by gojek.

 

[Scrooball (clone)]

I’m surprised that ppl didn’t look into their books before buying the stocks.

 

[Flying Horse]

Sooner or later will collapse.

No worry. They will simply get Privatize by Sovereign Funds like Temasek Hldgs. So much Big Data available. No need to re-invent the wheel to build surveillance State.