The e-hailing service says there has also been a large increase in traffic congestion which increases the cost of serving each ride.

Its loss for the whole year ballooned to US$3.56 billion versus US$2.75 billion in 2020.

Grab is said to have signed an agreement with Jaya Grocer's shareholders to buy all of the retail chain's ordinary shares and 75% preference shares.

At 65, Zakaria Abdul Wahab is thoroughly enjoying his unconventional job.

The backdoor listing on Nasdaq marks the high point for the Singapore company that began as a ride-hailing app and now operates across 400 cities in eight countries.

At 65, Zakaria Abdul Wahab is enjoying the freedom that comes with setting his own schedule and the joy he finds mixing with other younger riders.

Grab's mobility business brought in US$88 million in revenue, down 26% from a year earlier, while sales at its deliveries unit rose 58%.

Likely buyers would include Grab, Sea as well as GoTo, the combined company if Indonesian behemoths Gojek and Tokopedia successfully merge.

The US$4 billion fundraising from global investors is set to be the biggest ever US equity offering by a Southeast Asian company.

He says these groups will be placed under consideration as economic frontliners.

Grab reported this month that group revenue had recovered to be comfortably above pre-pandemic levels.

Gig economy workers fear they can no longer survive on meagre earnings from jobs that leave them increasingly vulnerable.