FILE PHOTO: A woman uses her phone near a sign for the online ride-hailing service Grab at the Manggarai train station in Jakarta, Indonesia July 3, 2017. REUTERS/Agoes Rudianto
HONG KONG: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.
Grab has adopted an aggressive strategy to expand its range of services, from transport to food delivery and payments, as it races Indonesia’s Go-Jek to become an app-for-everything in South-East Asia, home to about 650 million people.
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