Grab cuts full-year outlook on Delta variant

Grab also expects full-year gross merchandise value of US$15bil (RM62bil) to US$15.5bil (RM64bil), compared with an earlier projection of US$16.7bil (RM65bil).

SINGAPORE: Grab Holdings Inc, South-East Asia’s ride-hailing and delivery giant, cut projections 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 United States through a deal with a blank-cheque company or SPAC, expects full-year adjusted net sales of US$2.1bil (RM8.7bil) to US$2.2bil (RM9bil), according to a statement yesterday.