Superstar

21 December 2020 By Robyn Mak Follow @mak_robyn

Anthony Tan has steered his $15 bln super-app through the pandemic. With growth in digital payments booming across Southeast Asia, Grab is now charging into wealth management and digital banking. A mooted merger with rival Gojek will only cement Tan’s rising star status.

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The payments and financial services arm of Indonesian digital payments, ride-hailing and food delivery firm giant Gojek spent $160 million to increase its share in local lender PT Bank Jago to 22% up from 4% previously, Reuters reported on Dec. 18 citing a stock exchange filing.

Singapore-based Grab told employees that the company is well placed to make acquisitions following a report that it was close to a merger with rival Gojek, according to an internal note issued on Dec. 3 seen by Reuters.

"There is speculation again about a Gojek deal”, Grab's chief executive, Anthony Tan, wrote. "Our business momentum is good, and as with any market consolidation rumours, we are the ones in a position to acquire”, he said.

Grab offers ride-hailing, food delivery, digital payments and other mobile services.

Separately, the company on Dec. 4 said its 60%-owned venture with Singtel won a digital banking license in Singapore.

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Grab offers ride-hailing, food delivery, digital payments and other mobile services.

Separately, the company on Dec. 4 said its 60%-owned venture with Singtel won a digital banking license in Singapore.

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