GoTo Group

Deputy parliament speaker Cucun Ahmad Syamsurijal said the reduced commissions were proof that Prabowo’s administration “is genuinely committed to standing by all ride-hailing drivers.”

Transport & Logistics

GoTo, Grab to cut driver commissions to 8% in Indonesia

The companies will begin applying the 8% commission rate on July 1

Indonesia two-wheel riders account for less than 6 per cent of the business volume for Grab’s mobility operations.

Asean Business

Grab to retool in Indonesia after abrupt cut in ride-hailing commissions

Indonesia is South-east Asia’s biggest ride-hailing market, with millions of drivers relying on app-based transport and delivery services

Jakarta has also announced that ride-hailing platforms will be required to provide accident and health insurance coverage for drivers.

Asean Business

Indonesia’s fee cap threatens ride-hailing profits, clouds outlook for Grab, GoTo

Analysts say the policy could dampen investor sentiment – just as ride-hailing firms are beginning to turn a profit

The regulation will also require ride-hailing firms to provide accident and health insurance, President Prabowo said.

Asean Business

Indonesia to cut ride-hailing companies’ maximum commission taken from drivers to 8%

[JAKARTA] Indonesia will cut the caps on the commissions that ride-hailing companies take from drivers for each trip to 8 per cent from 20 per cent, President Prabowo Subianto said on Friday in Jakart...

GoTo, Indonesia’s biggest Internet company, has recently endured some of its toughest quarters since its founding in 2010.

Transport & Logistics

GoTo posts first-ever net income after cost cuts bear fruit

Fintech growth outpaces on-demand services as high oil prices curb commuting and food delivery demand

The acquisition of foodpanda Taiwan will increase Grab’s addressable food-delivery market by 20%.

Opinion & Features

HOCK LOCK SIEW

Grab’s new acquisition in Taiwan could further delay a deal for Indonesia’s GoTo

All attention is likely on issues related to the recent purchase plans

Mobility and delivery platforms are monitoring soaring fuel prices across the region, with some offering support for drivers and riders.

Companies & Markets

Mobility, delivery firms take different tacks in helping riders, drivers tackle fuel spikes in South-east Asia

Petrol prices have spiked since the start of the Iran conflict

Seeking relief from intense competition, GoTo has been in talks about a takeover by Grab.

Asean Business

GoTo earnings forecast tops estimates after cost reductions

Growth cooled from its breakneck pace as the firm pivots to focus on profitability

Grab wants to ensure all Indonesian stakeholders are onboard with any takeover proposal because it would need an approval from the country’s government for the deal.

Asean Business

Grab-GoTo deal hits snag caused by state-backed holder’s stake

Potential regulatory opposition and differences in perceived valuation have caused delays in the discussions

The appointment of Hans Patuwo (standing) comes as investors increasingly push GoTo to pursue strategic options to unlock value and accelerate profitability.

Asean Business

Hans Patuwo gets GoTo shareholders’ nod as CEO amid investor push for Grab deal

He takes over from Patrick Walujo with immediate effect

Latest T-bills Treasury Bills Results & Interest News Latest SSB Singapore Savings Bonds News Latest COE Certificate of Entitlement News

Latest Johor-Singapore SEZ News Latest BTO Build To Order & Sales of Balance News Latest STI Straits Times Index News Latest SGX Dividends, Share Price News Latest Bonds Market News Latest Singapore Stocks To Buy News Latest Singapore Economy News