* Grab Usage in Freefall in Singapore Since Uber Exit

By Susan Cunningham
The Star (Malaysia)


27 March 2019

When ride-sharing company Grab agreed to buy Uber’s South-East Asian assets a year ago, it seemed that its hardest and longest fought competition was finally over – at least in its seven markets that weren’t Indonesia.

In its home base of Singapore, Grab especially had a wide open field, having raised US$4.64bil (RM18.9bil) in funding from the likes of SoftBank and DiDi Chuxing.

Its chief competitors were those taxi drivers that didn’t use the Grab app. The hailing apps from well-funded foreigners – German-Brazilian Easy Taxi and Britain’s Hailo and Karhoo – had been driven out by 2016.

Yet instead of surging with an influx of Uber’s former passengers, the number of “Daily Active Users” of the main Grab app in Singapore plunged after Uber withdrew from the city-state in May.

The number of such users fell from almost 171,000 on June 1, 2018 to 135,576 by Dec 1, 2018, according to analytics firm SimilarWeb’s data on Android phone users. That’s a loss of almost 40,000 Daily Active Users over the six-month period.  MORE


I should have mentioned in the story: During most of 2018 Android had about 75% of the Singapore smartphone/tablet market. In Indonesia, Android had about 92% of the market.

 

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* Forbes Asia’s 2018 Heroes of Philanthropy

Forbes Asia Heroes of Philanthropy 2018 -Thailand

Hotelier Malee Tangsin and 35 of her scholarship boys.

In November 2018 Forbes Asia‘s 12th annual philanthropy issue honored a total of 40 generous people or families from Australia, Hong Kong and 13 Asian countries. I wrote about Malee Tangsin, 90, Chairwoman of Bangkok’s Ramada Plaza Menam Riverside Hotel. She and her family foundation have supported 450 boys while they attended high school in Bangkok. The photo shows the current three “classes,” most of whom are from Hmong or Akha hill tribe villages. More here.

* Priceza, Priceprice, PricePanda – Who’s Winning And Losing SE Asia’s Price Comparison Races

[Originally published on Forbes.com in 2015]

With the soft launch last month of Priceza websites in Malaysia, Philippines and Singapore, Thailand’s number one shopping price comparison portal now has a presence in five countries with a total of 540 million residents. Priceza Thailand debuted in January 2010 and Priceza Indonesia in May 2013.  Next market in 2015: Vietnam. If all grows as planned, the six sites will attract nearly 400 million annual visitors in 2019.

Back in 2009, when three former Chulalongkorn University classmates were dreaming up website ideas,  “we were looking for a scalable model. From day one, we knew wanted to be in other countries too,” says Priceza CEO Thanawat (Wai) Malabuppha.

It’s complicated, though. The competitive landscape in each country is different. That isn’t just a reflection of  per capita income and internet penetration but also of payment systems and the sheer number of e-commerce websites. MORE

* Four Generations: Bangkok’s Riverboat Queens Gear Up For The Property Business

This story appeared in the August 2018 issue of Forbes Asia as “Riverboat Queens.”

By Susan Cunningham
Forbes Asia


Supapan Pichaironarongsongkram is explaining the art of managing the tough men who operate her 90-strong fleet of ferries, commuter boats and charters that ply Bangkok’s Chao Phraya River. “When you work with men, you don’t work as a woman and a man. A man will always look down on a woman. They probably don’t think I know much. I go to them as a friend or mother. I protect them. If they know that, they will trust me. They know they will never lose a job. We work through generations of trust.”

Supapan, 73, represents the third generation of women at the helm of Supatra & Chao Phraya Express Boat Group. Her grandmother started the ferry service roughly a century ago–the exact year is unknown–and when she died in 1931, Supapan’s mother took over at age 20 (see Thailand’s Supatra Dynasty – 4 Generations Of Women Running The Chao Phraya River). Today the group comprises ten companies and 600 employees, and the fourth generation is getting ready to take over. Supapan’s 32-year-old daughter, Natapree, better known as Pim, has been building the group’s advertising sales, hotel and real estate businesses for the past six years.


Supapan is petite, soft-spoken and impeccably groomed. If she hadn’t felt a sense of responsibility to carry on the family business, she would have followed a more genteel line of work, perhaps using her French degree or pursuing a career as a pianist. But, says Pim, her only child, her mother’s benign appearance is deceptive: “She works six days a week. She doesn’t have an engineering degree, but she knows all the specifications of the boats, the materials, the buoyancy required for the boats to float, the width of the river, the depth of the river. She will act like she doesn’t know much, but she knows everything. You cannot mess with her.” MORE

* Malaysia’s Richest 2018: Anthony Tan’s Grab Hits $6B Valuation As Ride-Hailing Race Quickens

By Susan Cunningham
Forbes Asia

This story appears in the March 2018 issue of Forbes Asia as “Up for Grabs”

When Grab closed a $2.5 billion fundraising round in January, the valuation of the ride-hailing company not only rose north of $6 billion, according to Pitchbook. It also lifted cofounder Anthony Tan onto the list of Malaysia’s 50 richest. He debuts with an estimated net worth of $300 million. Led by SoftBank and Didi Chuxing, the investment was Southeast Asia’s biggest single venture-capital fundraising round ever. Other investors include Hyundai Motor and Toyota Tsusho.

Tan, 36, the startup’s chief executive, could have enjoyed a cushy ride with his family’s auto-sales business, run by his father, Tan Heng Chew, and two uncles. (Heng Chew and his brothers made the list the last five years before falling off this year.) But six years ago he teamed up with a Harvard Business School classmate, Tan Hooi Ling (no relation), to launch a taxi-hailing application in their home city of Kuala Lumpur. They first called it MyTeksi.

Myanmar and Cambodia

With eight investment rounds under its belt, Grab has branched out into services for private cars, motorcycle taxis, carpooling and goods delivery while making an ever increasing investment in mobile-software research and development. It offers transportation services in 168 cities in eight Southeast Asian countries, having added Cambodia and Myanmar in 2017. 
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* Binod Chaudhary Helps Rebuild Nepal

By Susan Cunningham
Forbes Asia

This story appears in the September 2015 issue of Forbes Asia.

After a 7.8 Richter scale earthquake rocked central Nepal on April 25, Binod K. Chaudhary and two of his sons rushed from Chitwan National Park to Kathmandu to organize relief efforts. The company’s head office was heavily damaged, but no matter. He immediately ordered that eight schools operated by one of his businesses be turned into shelters, distributing the company’s famed Wai Wai instant noodles and other food, as well as juice, water and medical supplies. He also arranged for health care workers to reach victims in the 12 districts most severely hit by the country’s worst natural disaster in 81 years.

The quake killed more than 8,600 in Nepal, displaced 450,000, triggered fatal avalanches on Mount Everest, and severely damaged centuries-old historic buildings including the palace squares of Kathmandu, Bhaktapur and Patan.

Since then Nepal’s first billionaire has pledged $2.5 million through his Chaudhary Foundation to restore schools and homes destroyed or damaged by the quake. The foundation will bear all the costs of building 1,000 transitional bamboo-and-plaster homes and is working with other donors to construct another 9,000. MORE

* Rocket’s Lazada And Zalora Lost $235.3 Million In 2014 But Are Moving Toward Profitability

By Susan Cunningham
Forbes.com | May 12, 2015

Lazada, Southeast Asia’s largest shopping platform, and its sister apparel site, Zalora, racked up huge gains in sales and transactions in 2014 but together lost $235.3 million. The good news for those invested in the German parent company, Rocket Internet Group, is that losses as a proportion of revenues are shrinking.

Rocket, which has stakes in 141 internet companies throughout the world, released its 2014 results last week. It listed on the Frankfurt Stock Exchange on October 2, 2014.

Lazada Losses and Revenues Double

Lazada’s six general merchandise sites operate in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Lazada’s net revenue was US $154.3 million last year, more than double 2013 results of $75.5 million. Yet the company’s net operating losses (EBITDA, or earnings before interest, taxes, depreciation and amortization) were $152.5 million, also more than double the 2013 figure of $67 million.

(Most figures in Rocket’s annual report were in euros; Lazada’s results were reported in US dollars.).

For online retailers, however, a key metric is growth in Gross Merchandise Volume (GMV)–the sales value of products sold. In the case of an unprofitable company like Lazada, another metric is the share of losses relative to GMV and whether that share, the negative margin, is narrowing year on year. By that measure, Lazada is moving in the right direction. MORE