South East Asia

South East Asia
FinTech Airwallex Granted Payment License from Singapore’s Central Bank
November 08, 2021

Global FinTech platform Airwallex was granted a payments license in Singapore, boosting the company’s operations in the ASEAN region, according to a press release sent to PYMNTS on Monday (Nov. 8). The Monetary Authority of Singapore (MAS) cleared Airwallex for a Major Payment Institution License,...

South East Asia
Grab’s Co-Founder Seeks Lifetime CEO Post In Gojek Union
December 28, 2020

Anthony Tan, Grab co-founder and chief executive officer, is looking to secure his title for life as the Singapore delivery and rideshare platform continues to move forward in its merger with rival Gojek, based in Indonesia. Some backers are concerned that the move would give...

South East Asia
China Extends Economic Stimulus Measures For Small And Micro-Businesses
December 23, 2020

China’s State Council announced late Tuesday that small and micro-sized businesses can defer loan payments past first quarter 2021 as needed, according to CNBC. Certain banks catering to small businesses will also continue to receive government support in the wake of a massive shutdown earlier...

South East Asia
Grab CEO: No IPO Until Business Shows Profits
November 15, 2019

Grab Chief Executive Officer (CEO) and Co-Founder Anthony Tan said the Southeast Asia ride-hailing platform will not launch an initial public offering (IPO) until the company is profitable, CNBC reported on Thursday (Nov. 14). Tan said he anticipates additional markets will turn a profit in...

South East Asia
Malaysia Regulators Want To Slap Grab With $20M Fine
October 03, 2019

The Malaysia Competition Commission (MyCC) ruled that Singapore-based Grab is in violation of competition laws and is considering slapping them with a $20.5 million fine, Reuters reported on Wednesday (Oct. 2). “MyCC further notes that [Grab’s] restrictive clauses had the effect of distorting competition in...

South East Asia
Grab Considered Buying Payments Provider 2C2P
June 13, 2019

In a sign of Grab’s ambitions in the financial services space, the Singapore ride-hailing firm reportedly had discussions to acquire payments provider 2C2P Pte. Unnamed sources claim that the company was one of various possible bidders interested in the payments firm, Bloomberg reported. The Singapore-based payments...

South East Asia
The Grab Journey: From Ride-Hailing To Mobile Financial Services Powerhouse
March 11, 2019

It’s said that the journey of 1,000 miles begins with a single step. The journey to build a digital ecosystem from the ground up starts with a single step, too: getting a critical mass of stakeholders on a vital side of that platform on board....

South East Asia
Chinese Banks Reined In Lending In February
March 10, 2019

Banks in China reined in lending in February coming off a record high at the start of 2019, reported The Wall Street Journal. The report, citing data released Sunday (March 10), said banks in China issued 885.8 billion yuan ($131.8 billion) in new loans in February, down...

South East Asia
China To Institute Billions Of Dollars In Tax Cuts To Boost Economy
March 05, 2019

China is aiming to boost the economy by tax cuts and infrastructure spending in the billions of dollars range. Reuters, citing Chinese Premier Li Keqiang, reported the Chinese government is aiming for economic growth of between 6 percent and 6.5 percent this year, which is below...