EconomyEditor's PickGrab’s ride-hailing service disrupted across Southeast Asia

November 16, 2021

Grab Holdings Inc.’s ride-hailing service was having technical difficulties in markets including Singapore, Malaysia and the Philippines on Tuesday with some customers reporting problems with using the app.

“We are currently experiencing a service disruption,” Grab said in a statement in response to questions from Bloomberg News. “Our teams are working hard to fix this and we will provide updates as they become available. We apologize for the inconvenience.”

Grab operates ride-hailing, delivery, and digital financial services in more than 400 cities in eight countries in Southeast Asia.

The Singapore-based company is preparing to merge with Altimeter Growth Gorp., the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Management. Grab has postponed the $40 billion deal — announced in April and one of the largest-ever mergers with a SPAC — to the fourth quarter as it works on an audit of the past three years’ accounts. The company reiterated last week it expects the deal to complete this quarter. – Bloomberg

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