Singapore, Jan 16, 2026, 22:05 SGT — Premarket
- Grab shares rose 3.4% in U.S. premarket trade to $4.54, after closing at $4.39. (Google)
- Investors are weighing a draft Indonesian decree that would cut commission caps to 10% from 20% and shift more insurance and benefit costs to platforms. (Reuters)
- Grab said it will report fourth-quarter and full-year 2025 results after the U.S. market closes on Feb. 11. (Grab)
Grab Holdings Limited shares rose 3.4% to $4.54 in premarket trade on Friday, valuing the Nasdaq-listed Southeast Asia ride-hailing and delivery firm at about $18 billion, after the stock closed at $4.39. (Google)
The early move comes as investors digest a Reuters report that Indonesia’s president is considering a draft decree that would halve the commission cap that ride-hailing platforms take from drivers to 10% from 20%, while also requiring platforms to fully cover accident and death insurance and share other benefit costs. The government and the presidential office did not respond to requests for comment, and Grab and rival GoTo did not respond immediately, the report said. “Motorcycle taxi drivers have become an increasingly visible political force,” said Siwage Dharma Negara, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore, while union head Lily Pujiati said workers’ pay should be calculated from the total amount consumers pay to platforms. (Reuters)
Why it matters now is simple: a commission cap sets the slice of each fare or delivery fee platforms keep. If the cap is cut and benefit bills rise at the same time, platforms have less room to fund discounts, pay incentives, or widen margins — and those are the levers traders tend to watch when the growth story turns into a profit story.
Indonesia is a core battleground for ride-hailing and delivery apps, and the draft rule would land in the middle of a sensitive debate over driver pay and worker protection. Even the threat of a fast decree can change what investors will pay for earnings that depend on steady unit economics.
Grab said on Jan. 13 it plans to release unaudited fourth-quarter and full-year 2025 results after the U.S. market closes on Feb. 11, followed by a conference call at 7:00 p.m. Eastern time (8:00 a.m. Singapore time on Feb. 12). (Grab)
The near-term calendar is awkward, too. U.S. markets are set to close on Monday for the Martin Luther King Jr. Day holiday, compressing liquidity and pushing attention into next week’s earnings-heavy tape. (Reuters)
A key uncertainty is timing: Reuters reported it was not clear if the text seen was a final draft or when it would be enforced. Any sign the proposal is watered down, phased in, or delayed could ease pressure on the stock.
But if Jakarta moves quickly — and if platforms cannot pass higher costs back through prices or lower incentives — margins could take a hit. That risk sits over the stock heading into the next earnings cycle.
