FILE PHOTO: A Grab motor driver is seen in a street in Jakarta, Indonesia, February 13, 2017. REUTERS/BeawihartaSINGAPORE: Indonesian media conglomerate Elang Mahkota Teknologi is investing US$375 million in ride-hailing and payment firm Grab's Indonesia unit, the companies said in a statement on Monday , in what they described as a"strategic alliance".
The deal is the latest tie-up between Singapore-headquartered Grab, the region's biggest ride-hailing and food delivery firm, and Southeast Asian conglomerates, including a strategic investment by Thailand's Central Group in 2019.The Indonesian conglomerate holds stakes in media companies as well as a controlling stake in e-wallet DANA and a stake in e-commerce site Bukalapak.
Two sources told Reuters that the deal is in part intended to lead to a shake-up in the digital payments sector and help Grab increase its stake in e-wallet OVO.Grab, OVO, DANA, and Emtek did not immediately answer requests for comment.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tokyo Olympics opening drew 16.7 million US TV viewers, a 33-year lowNBC's TV broadcast of the Tokyo Olympic Games opening ceremony drew 16.7 million viewers, the smallest TV audience for the event in the past 33 ... OK so now the media company that paid billions for the global TV rights had their televised bore fest, can we focus on getting the athletes in and out as safely as possible? sign of the times i nvr even watch it. like y r we doing olympics even?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Vietnam says more US vaccine donations expected after first 5 million dosesHANOI: The United States is considering giving more coronavirus vaccines to Vietnam, its ambassador to the United States said on Sunday (Jul 25), ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: Overwhelmed Indonesian hospitals with COVID-19 cases behind high doctor fatalitiesTurbocharged by Idul Fitri travel, the Delta variant has cost Indonesia precious healthcare resources, especially in smaller towns and ... Only 39% effective? Our authority is so proud of this vaccine.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Can investing in Southeast Asian art really make you money?As global interest in art from this underrated region grows, owning local art could turn out to be a savvy investment – but only if you have the passion and patience. We speak to art gallery owners and auction houses to find out more.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Olympics-Triathlon-Fans gather defying calls to stay homeTOKYO: Sport fans gathered along the route of the triathlon on Monday, grabbing a rare opportunity to see live competition at the pandemic-hit ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Fans gather along Tokyo Olympics triathlon route, defying calls to stay homeTOKYO: Sports fans gathered along the route of the Olympic triathlon on Monday (Jul 26), grabbing a rare opportunity to see live competition at ... life must go on
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »