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Grab has appointed Alejandro Osorio as managing director of Grab Singapore, effective July 1, while Ma Tuan Trong will take over Osorio's role in Vietnam. Osorio aims to enhance transport accessibility with the new GrabCab service and integrate the dining platform Chope, alongside developing financial products with GrabFin and GXS Bank. Yee Wee Tang will oversee operations across multiple markets in his expanded role.
Ecommerce roll-up firms in Southeast Asia are adapting to the challenges posed by steep US tariff hikes on Chinese imports, shifting into survival mode without panic. Strategies include sunsetting underperforming brands, raising prices, and engaging dropshippers to navigate the tariff shock.In a related spotlight, Anna Vanessa Haotanto, founder of Zora Health, emphasizes the need for better treatment of female politicians in Singapore, criticizing the superficial judgments they face based on appearance, which detracts from their capabilities and contributions.
Southeast Asia's startup ecosystem is recalibrating as it faces a cooling phase after a decade of growth, with a focus on overcoming challenges and exploring new opportunities. Notably, Bukalapak's pivot from physical goods to virtual products has led to a remarkable turnaround, with Q1 2025 revenue rising 37% year on year to US$90 million and a net profit of US$7 million. Meanwhile, Grab's financial health remains strong, with a projected 3% increase in adjusted earnings for 2025, despite macroeconomic concerns.
The latest episode of the 60/40 Podcast features Sam Ghiotti, co-founder and CEO of Habitto, who shares her experiences as a female foreign founder in Japan's startup ecosystem. The discussion covers key challenges in building a fintech startup, including product-market fit, customer acquisition, and fundraising strategies. Additionally, the hosts delve into current trends in Japan's tech scene, Shopify's AI developments, and the financial outlook for Grab and Aspire.
The rapid evolution of agentic AI is causing caution among Southeast Asian startups, as many founders hesitate to adopt new technologies due to the fear of obsolescence. While Chinese firms are advancing quickly, local companies are opting to wait for clear leaders in the market before investing further. This landscape is further complicated by the emergence of quantum computing, signaling a transformative era ahead.
Southeast Asia faces significant economic challenges following the new trade tariffs imposed by the US, with analysts predicting a sharp decline in exports and reduced attractiveness for global businesses. Countries like Vietnam and Thailand, which exported over US$70 billion in tech products to the US, are particularly affected, as higher tariffs diminish their appeal as manufacturing alternatives for Chinese companies. Meanwhile, the Indian government is scrutinizing Ola Electric Mobility's sales figures, highlighting discrepancies in reported orders versus registered units.
Grab has launched two AI tools for its merchant and driver partners in Southeast Asia: the AI Merchant Assistant, which offers operational insights to small businesses, and the AI Driver Companion, which predicts high-demand areas and allows drivers to report road conditions verbally. Developed with OpenAI and Anthropic, these tools leverage Grab's extensive user base and aim to address the unique challenges of the region's digital economy, which is projected to grow significantly through AI implementation.
Southeast Asia's cleantech sector is crucial for addressing climate change, with renewable energy firms leading funding efforts at $143.6 million in the past year. Despite a significant funding drop in 2024, the region's startups continue to innovate in areas like electric vehicles and waste management.In other news, Malaysia's Prime Minister Anwar Ibrahim reassured that the country would not face a recession despite new US tariffs, emphasizing strong economic fundamentals. Meanwhile, Asian markets reacted negatively to escalating US-China trade tensions, and India launched a helpline for startups to report corruption.
Grab has launched new features at its GrabX showcase, including "Grab for Family | Teens" for independent ride booking by teenagers, "GrabFood for One" with no minimum order, and a "Shared Saver" option to reduce delivery costs. Additionally, an "Advance Booking" feature for airport pickups and a "Travel Pass" for rides and dining were introduced, reflecting Grab's evolution into a comprehensive lifestyle platform. These innovations aim to enhance user engagement and address the needs of Southeast Asia's underbanked population amid increasing regional competition.
The inaugural Asia Economic Summit aims to address the complexities of doing business in Asia, featuring leaders from various sectors, including Grab's return to the taxi market after securing a license. Meanwhile, Japan's Nikkei index hits an eight-month low due to US tariffs, and Gulf Development debuts on Thailand's stock exchange amid mixed market reactions. Baidu faces declining market share and revenue challenges despite efforts to enhance its search capabilities with AI.
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