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Grab Service Considering To Enter The US Market

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This year, Southeast Asian ride-hailing and food delivery giant Grab is considering a listing in the United States, encouraged by strong demand for initial public offerings (IPOs) from investors, three sources familiar with the issue told Reuters.

Grab’s IPO could raise at least US$2 billion, which would possibly make it the Southeast Asian company’s biggest overseas share offering.

The proposals have not been finalized, including the size of the problem and timing, and are subject to market conditions, said the sources, who requested anonymity because they were not allowed to talk on the matter.
Grab, based in Singapore, declined to comment on the potential IPO.

From its origins as a ride-hailing company in Malaysia in 2012, Grab, whose supporters include SoftBank Group Corp and Mitsubishi UFJ Financial Group, has rapidly grown to become the region’s most valuable start-up worth over US$16 billion.

The overall net community revenue of Grab jumped by approximately 70 percent year on year in 2020 and recovered comfortably above pre-pandemic levels.

Moody’s said Grab had cash reserves of around US$3.2 billion this month, which the rating agency “expects will be sufficient to cover negative operating cash flow, capital spending at its transport and food delivery businesses and scheduled debt maturities over at least the next two-three years.”

One of the sources said that as some of its long-term investors cut stakes and new investors come on board, he expects Grab’s IPO to raise significantly more than US$2 billion.

Grab has said that even in all its operating markets, including Indonesia, the largest, its ride-hailing business is breaking. By the end of 2021, it expects its food delivery business to break even.

The IPO plans would come after merger discussions with Indonesian rival Gojek were derailed.

After a costly five-year battle, Grab caught global attention when Uber sold its Southeast Asia business to the company in 2018 and took a stake in Grab in exchange.

It currently operates across eight Southeast Asian countries in 397 cities and its app has seen 214 million downloads.

Source: South China Morning Post

Lifestyle

(Video) Japanese Guy Creatively Created A Video of Malaysia And It Looks Super Amazing

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Malaysia is truly a beautiful country to be visited by other people and all Malaysians should be absolutely proud of their own country. This is because even tourists are amazed by Malaysia as there are so many things to be proud of. One of them would be this Japanese YouTuber that is named Aki and he has been living in Malaysia already for several years now. He used to be an English high school teacher and now has ventured into becoming a professional video creator.

Aki has shared a lot of his different experiences living in Malaysia in most of his posted videos and also vlogs. Some of them are his experiences on learning Bahasa Melayu within three weeks during the Movement Control Order, how to make teh tarik, trying out Ramly burger, and many others. There is one particular video posted by him that really makes all the Malaysians really proud of the country and would really influence other tourists to visit Malaysia.

The particular video is titled ‘Malaysia Cinematic – Like You’ve Never Seen Before’ and the full video has been posted on his YouTube channel named ‘Aki From Japan‘. Of course, many netizens are amazed and praised his video because it does look super amazing.

Picture: Instagram hmotoaki

Picture: Instagram hmotoaki

Sources: YouTube Aki From Japan, Instagram hmotoaki.

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Italy’s New Way To Combat Overtourism

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Italy being one of the top travel destinations in the world, the country is definitely suffering from overtourism especially with the Uffizi Gallery.
With 12,000 visitors per day during peak hours, travelers from all over the world desecrate the artistic legacy in Italy. From a selfie in front of Botticelli’s Venus to close-ups of David’s manhood, it would not be a pretty sight. Although it is the place you have to visit once in a lifetime. But the experience would be stressful enough that you might decide to take a rain check.
Therefore, the Uffizi director wants to change things by reducing visitor concentration on Florence. With the Uffizi Diffusi (Scattered Uffizi) artworks will be shown in the surrounding area of Tuscany turning the region into a big “scattered” museum.
Uffizi director Eike Schmidt told CNN Travel that the idea had come to him during 2020’s lockdown.
“Art can’t survive on big galleries alone,” he added. “The Uffizi is not an isolated museum in the middle of nowhere, but is the culmination of a landscape full of marvel and art and natural beauty.”
Although details are still under wraps, Schmidt is planning 60-100 exhibition places across Tuscany with historical buildings all over. As Florence braces for the return of mass tourism, Schmidt wants to take the focus off Florence, and help disperse the crowds.
It will also help create new jobs and improve the economy. He also wishes Tuscans closer to their heritage as the current system is too biased on overseas tourism.
This project will bring to 3000 artworks that nobody can see due to overcrowding to a “calmer, more intimate setting”.
Source: CNN
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Covid: Qantas Launches ‘Mystery Flights’ To Boost Tourism

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In the 1990s, mystery flights; day-trips with unknown destinations were popular. Airlines nowadays are coming up with various strategies to tackle the pandemic travel slump. Airlines and travel companies worldwide are taking a big hit. Thai Airways announcing its workforce slash by 50%. Fireflies and Malindo having to lay off a large bulk of their workforce. This downturn has led to government bailouts, company collapses, and huge job cuts with a severe drop in passenger numbers.

According to the Association of Asia Pacific Airlines (AAPA), companies are trying hard to cope despite ‘the uneven roll-out of vaccinations across the world’. This will only delay the full reopening of borders.

As the latest tactic to market flights to passengers, Qantas offers to revive the 90’s trend of mystery flights. The flight takes off and land at the same airport after low-level fly-bys of iconic Australian landmarks.

International borders are unlikely to reopen until 2022. Therefore, the company had discussed with the government for domestic travel now that vaccination programs are underway.

Flights will be on one of three Qantas Boeing 737 planes from Brisbane, Melbourne, or Sydney. Economy fares beginning at A$737 (RM2,334.97).

This all-day package includes various activities. For instance, wine-making, gourmet lunches, and snorkeling.

Qantas group executive Andrew Parker said, “Travellers are confused by a patchwork of rapidly changing restrictions and are understandably worried about being locked out of their own home state or intended destination.”

In conclusion, with this effort, the tourism industry in the island continent could flourish again. This is to help boost people’s motivations in these trying times.

Source: BBC

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