SE Asian ride-hailing firm Grab to invest US$700mil in Indonesia

REFILE - CORRECTING TYPO IN CITYA passenger wears a helmet from the motorbike ride-hailing service Grab on a street in Jakarta, Indonesia, February 1, 2017. Picture taken February 1, 2017. REUTERS/Darren Whiteside

JAKARTA: South-East Asian ride-hailing firm Grab on Feb 2 said it will invest US$700mil (RM3.10bil) to expand in Indonesia over the next four years, marking its biggest-ever investment in any country. 

Grab's push in what has become its largest market is set to intensify the competition among ride-hailing firms in Indonesia. Grab's rivals in the country include US firm Uber Technologies Inc and homegrown app Go-Jek.