Core Viewpoint - Grab Holdings Limited (NASDAQ:GRAB) has been upgraded to a Buy by BofA Securities, with a price target of $6.30, following a 32% decline in stock price since September [1][2]. Financial Performance - BofA Securities highlights that Grab's fundamentals in core mobility and deliveries remain strong, with expectations of gross merchandise value (GMV) growing at a compound annual growth rate (CAGR) of 17% from 2024 to 2027 [2]. - The adjusted EBITDA margin as a percentage of GMV is projected to improve from 3.6% in 2024 to 5.5% by 2027 [3]. Cash Position - Grab's net cash position of $5 billion is viewed positively, as it helps limit downside risk while supporting expected strong performance in GrabMart and quick commerce operations [3]. Strategic Acquisition - Grab announced the acquisition of Infermove, a China-based developer of AI-enabled robotics solutions, to enhance its first- and last-mile delivery capabilities [4]. Business Model - Grab operates a super app that integrates various services including ride-hailing, food and grocery delivery, package delivery, and digital financial services, connecting consumers with driver-partners, merchants, and delivery partners [5].

Core Insights - Grab Holdings has evolved from a ride-hailing service in Malaysia to a super app, integrating various services including food delivery, digital payments, and financial services across Southeast Asia [2][4] Business Expansion - Grab's mobility segment generated $873 million in Q3 revenue, reflecting a 22% year-over-year growth, driven by a 24% increase in on-demand gross merchandise value (GMV) to $5.8 billion [4] - The delivery segment, which includes food and groceries, saw a 23% revenue growth to $465 million in the last quarter, supported by advertising and the expansion of GrabMart [5] - Financial services, including GrabPay and lending, aim for a $1 billion loan portfolio by the end of 2025, contributing to an overall adjusted EBITDA of $136 million in Q3, which is a 51% increase year-over-year [5] Strategic Acquisitions - Grab acquired Infermove, a Chinese AI robotics firm, to enhance its delivery automation capabilities, allowing for independent operations under its founder while complementing Grab's existing delivery services [3][6] Market Position and Challenges - Despite strong revenue growth and profitability projected for 2025, Grab's stock has fallen 12% year-to-date to $4.38, attributed to regulatory uncertainties, particularly in Indonesia where proposals to cut ride-hailing commissions from 20% to 10% are being considered [7]

Core Insights - Thunes has received in-principle approval from the Monetary Authority of Singapore (MAS) for a variation of its Major Payment Institution (MPI) licence, which will allow the company to expand its payment services in Singapore [1][4] - The approval will enable merchants in Singapore to access a wider range of payment options, including international methods, enhancing their ability to accept payments from global customers [1][2] - Thunes plans to introduce new services such as account issuance, domestic money transfers, e-money issuance, and merchant acquisition alongside its existing cross-border money transfer business once the licence variation is granted [3][4] Company Strategy - The CEO of Thunes, Peter De Caluwe, emphasized that this approval is a significant step for the company's global strategy and will act as a catalyst for growth [4] - Thunes aims to strengthen its governance and innovation from its global headquarters in Singapore, reinforcing its commitment to connecting markets and empowering merchants [5] - Recent partnerships, such as with MoMo PSB in Nigeria and First Abu Dhabi Bank, highlight Thunes' strategy to enhance international payment options and facilitate instant remittances [5][6]

Grab, the largest ride-hailing app in Southeast Asia, announced that users in the Philippines can now top up cryptocurrencies (such as BTC, ETH, USDC, USDT) into their GrabPay wallets. The feature was first launched in Singapore in 2024 and has now been expanded to the Philippines, a country with a population of 112 million. https://t.co/oMDSKRGhp2 ...