Grab’s Indonesian bet, invests RM3bil

Big investment: A Grab bike rider seen during rush hour traffic in Jakarta. Grab will spend US700mil to expand across more cities than any of its competitors, including Jakarta, Bali, Bandung, Padang, Makassar, Medan, Surabaya and Yogyakarta. - Reuters

PETALING JAYA: South-East Asian ride-hailing platform Grab, the company co-founded by Anthony Tan who is from the family that built up the Tan Chong Motor group, is making a big bet on the Indonesian market with an investment of US$700mil over the next four years.

Indonesia is Grab’s largest market in South-East Asia, with its GrabCar and GrabBike businesses each growing more than 600% in 2016.