GXBank is the first digital bank licensee in the country to secure approval from the Minister of Finance and Bank Negara Malaysia to operate. Go to Source
Author: Tech In Asia Online News
In 50 Words: Grab shares soar 11% on strong Q2, Sea Group’s drop 29%
Shares of Singapore-based superapp Grab rose by 11% after its Q2 2023 results. Go to Source
In 50 Words: Musk’s Starlink, Tesla out of reach for many in Malaysia, Indonesia
China threatens to put a damper on the billionaire’s Southeast Asian ambitions. Go to Source
In 50 Words: Xpeng to acquire Didi’s electric vehicle unit for $744m
The Chinese EV manufacturer plans to launch an A-class model under a new brand, currently known as Mona. Go to Source
Grab logs standout quarter as deliveries growth rebounds, touts revenue potential of ads
The Southeast Asian super app now expects to achieve EBITDA breakeven by the third quarter. Go to Source
Grab’s latest lineup of top executives (update)
Co-founder Tan Hooi Ling, who oversees Grab group CTO Suthen Thomas and chief product officer Philipp Kandal, is set to leave at the end of this year. Go to Source
In 50 Words: Malaysia’s PNB considers merger to form $2.15b auto giant, aid EV sector
The country’s largest asset manager is considering merging Sime Darby Motors and Perusahaan Otomobil Kedua, a unit of UMW Holdings. Go to Source
Malaysia, Indonesia overhyped Elon Musk’s Tesla, Starlink
The tech mogul will need to stave off cheaper alternatives if his products and services are to make an impact in the two key Southeast Asian markets. Go to Source
Making sense of Tesla’s planned Indonesia investment
Tesla no longer uses nickel in batteries, so why is it reportedly about to invest in Indonesia, home to the world’s largest nickel reserves? Go to Source
Charting Uber’s profit blueprint for Grab
The American ride-hailing company recently announced its first profitable quarter. Some metrics show Grab may be following close behind. Go to Source