New York, Jan 15, 2026, 10:46 EST — Regular session
- Grab shares slipped roughly 3% in morning trade, deepening a two-day slide.
- An upcoming Indonesian decree aims to slash platform commissions while imposing additional costs to benefit drivers.
- Grab will release its fourth-quarter and full-year earnings after the U.S. market closes on Feb. 11.
Shares of Grab Holdings Ltd dropped 3.5% to $4.47 Thursday morning, as investors factored in new regulatory concerns in Indonesia ahead of the upcoming earnings report.
A draft presidential decree under review in Indonesia aims to slash the commission caps that ride-hailing platforms take from drivers, cutting it to 10% from the current 20%. The proposal also pushes companies to cover more insurance and social-benefit expenses, Reuters reported Wednesday. “Motorcycle taxi drivers have become an increasingly visible political force,” noted Siwage Dharma Negara, a senior fellow at Singapore’s ISEAS-Yusof Ishak Institute. Meanwhile, union leader Lily Pujiati argued that worker payouts should reflect the “total amount paid by consumers.” Reuters
The proposal targets a crucial aspect of the model: take-rates and driver costs. Traders often respond quickly when a major market discusses caps and mandated benefits, since there’s little room to “opt out” without risking supply shortages.
Grab said Tuesday it will release unaudited fourth-quarter and full-year 2025 results after U.S. markets close on Feb. 11. A conference call is set for 7 p.m. Eastern time. The company operates in deliveries, mobility, and digital financial services across Southeast Asia.
Shares closed Wednesday at $4.63, slipping from $4.79 the previous day, per Yahoo Finance data.
The drop happened even as the broader U.S. market climbed Thursday, powered by a semiconductor surge following Taiwan Semiconductor Manufacturing Co’s earnings beat and positive guidance. Investors, however, were quick to sell off stocks facing company-specific doubts.
However, the Indonesian plan remains in draft form, with no clear timeline. Should costs surge or fees get capped swiftly, Grab could face margin pressure that forces tough decisions on pricing, incentives, and growth speed.
There’s a second-order risk, too: stricter regulations could reduce driver availability and service quality, which might then impact demand. If platforms push these costs onto riders, it could hurt their appetite for rides.
If Jakarta decides to soften the proposal or introduce it gradually, attention may shift back to the stock’s operating metrics and guidance instead of regulatory developments.
Investors are closely monitoring signs on whether the draft decree will be enforced and the pace of its implementation. The next key date is Grab’s earnings report on Feb. 11.
