cost-cutting measures

In a letter to employees on Tuesday morning, Grab CEO Anthony Tan said that it has become clear that the pandemic will likely result in a prolonged recession, and Grab has to brace for what may be a long recovery period.

In light of the worsening situation, the SIAEC Board has also volunteered a deeper reduction of 25% in fees accruing with effect from Apr 1 in solidarity with its management and staff.