Grab Holdings Inc., Southeast Asia’s ride-hailing and delivery giant, slightly lowered its projections for some key metrics for 2021 as the region is battling one of the world’s worst Covid-19 outbreaks due to the fast-spreading delta variant. 

The Singapore-based company, which is set to go public in the US through a deal with a blank-cheque company, expects full-year adjusted net sales of US$2.1 billion ($2.82 billion) to US$2.2 billion, according to a statement Tuesday. That compares with the US$2.3 billion it forecast in an investor presentation in April. Grab also expects full-year gross merchandise value of US$15 billion to US$15.5 billion, compared with an earlier projection of US$16.7 billion. 

Grab said it “remains cautious of the renewed uncertainty of movement restrictions in Southeast Asia related to Covid-19.” The full-year outlook “anticipates an extension of partial and complete lockdowns throughout several countries where Grab operates as a result of continuing spread of Covid-19.” 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook