Singapore's Grab bets on AI, new services to triple profit by 2028

Core Viewpoint - Grab aims to triple its profit by 2028 through the integration of artificial intelligence and the expansion of new services, including online groceries and financial products [1][2]. Group 1: Financial Goals - Grab targets over 20% annual revenue growth for the next three years and aims to increase EBITDA to $1.5 billion by 2028 from the previous year's level [2]. - The company recently reported its first full-year net profit in 2025, 14 years post-establishment, but its 2026 revenue and adjusted EBITDA forecasts fell short of Wall Street expectations, leading to a decline in stock value [4]. Group 2: Industry Trends - The ride-hailing sector in Southeast Asia is transitioning from subsidy-driven growth to a focus on profitability, with companies facing rising operational costs and leveraging AI-optimized super-apps to combine rides, deliveries, and financial services [3]. Group 3: Strategic Initiatives - Grab plans to enhance efficiency in its main app and delivery network to meet its 2028 targets, utilizing frequent user engagement to bundle services at lower costs [5]. - The company is expanding its financial services and aims to utilize its data for more accurate loan underwriting compared to traditional banks [6]. - Grab is also exploring AI agents to improve customer loyalty and is open to selective acquisitions while focusing on reinvestment in Southeast Asia for organic growth [7].