Grab Holdings Limited Class A (GRAB)

In early 2026, Grab acquired foodpanda Taiwan for $600 million, with adjusted EBITDA neutral in FY26F and 4% accretive in FY28F. Grab launched its digital bank business, GXS Bank, after being granted a digital bank license in Singapore in December 2020, targeting a financial services loan book exceeding $1 billion by 2026. In February 2026, Grab announced a US$500 million share buyback program to be completed within 2026. In April 2026, Grab launched Singapore's first autonomous public ride service in partnership with WeRide. Grab has been rolling out new features and AI-driven strategies. S&P Global Ratings upgraded Grab's rating to 'BB' in February 2026, expecting positive EBITDA and cash flows, and Grab reported its first-ever profitable quarter, projecting full-year profitability by 2025.

Grab's products and services experience demand seasonality, with a significant surge during the year-end holiday season. Grab Philippines sees at least a 19% increase in daily transacting users for ride-hailing services every last quarter of the year, with ride bookings growing by up to 45% in the second and third weeks of December. Demand for its delivery business also rises by 20% on key holiday dates. Grab prepares in advance to manage the balance between supply and demand, addressing challenges like traffic congestion.

Grab Holdings Ltd. is a Singaporean multinational technology company operating a super-app across Southeast Asia, offering services in Technology, Transportation, Food Service, E-commerce, and Financial Services. Its major products and services include deliveries (GrabFood, GrabMart, GrabExpress, GrabKitchen, GrabAds), mobility (GrabCar, GrabTaxi, JustGrab, GrabBike, GrabRentals, GrabCare, autonomous vehicle services), financial services (GrabPay, GrabFin, GrabInsure, GrabLink, Digibank Savings Account, GX Bank debit cards, GXS FlexiCard), and other offerings like GrabKios, Grab for Business, GrabCoins, GrabMaps, and a centralized travel portal with GrabStays.

Grab Holdings Ltd. operates in eight countries and over 800 cities across Southeast Asia, including Singapore, Malaysia, Cambodia, Indonesia, Myanmar, The Philippines, Thailand, and Vietnam. In 2024, Malaysia, Indonesia, and Singapore contributed over 70% of Grab's revenue.

Grab has maintained a strong brand reputation, particularly in Singapore, where it was recognized as the fastest-growing Singaporean brand in March 2025, with its brand value surging by 85% to $1.47 billion (US$1.1 billion). This growth was attributed to a resurgence in food delivery, continued momentum in its mobility services, and the increased adoption of AI features. Grab's brand is a household name and a trusted utility-based brand deeply embedded in the daily lives of Southeast Asians. The company's overall reliance on incentives has decreased, indicating organic user growth and a maturing platform.

Grab Holdings Ltd. is founder-led, with CEO Anthony Tan holding a 3.2% economic stake but commanding 59.9% of the voting power as of January 2026. Major institutional owners and shareholders include Uber Technologies, Inc., SoftBank Vision Fund L.P., BlackRock, Inc., Morgan Stanley Investment Management Inc., Invesco Ltd., Toyota Motor Corp/, MUFG Bank, Ltd. / Mitsubishi UFJ Financial Group, Inc., Tiger Global Management Llc, Marshall Wace, Llp, Jpmorgan Chase & Co, Didi Global, Inc., and State Street Corp.