KUALA LUMPUR (April 1): Grab Holdings Inc said today the company had in 2019 made tremendous progress in growing its food delivery, payments and financial services businesses and that the growth in these segments gives the company a good foundation to achieve long-term sustainable growth.

In a statement today, Grab said that in 2019, Grab’s gross merchandise value (GMV) doubled on a particularly strong performance in Indonesia. 

"In addition, GrabFood saw its GMV grow by over 400% across the region, led by Indonesia, Thailand and the Philippines, while GrabPay increased total payments volume by 170%. 

"Building on this strong performance, Grab will continue to focus on driving cross-vertical usage while further optimising capital efficiency. Critical pillars of Grab’s 2020 strategy include expanding its financial services offerings, growing its daily essentials delivery and concierge services GrabMart and GrabAssistant, and developing more business-to-business service offerings to better serve its growing merchant base,” said Grab, which had also announced today it has hired Peter Oey as chief financial officer (CFO).

Grab said Oey brings over 20 years of corporate financial and strategic planning experience to Grab. Prior to Grab, Oey was with legal technology solutions provider LegalZoom, where he served as CFO for more than five years. 

"Prior to LegalZoom, he was CFO of MyLife.com, a US consumer internet business, and spent over 12 years at Activision Blizzard in various roles including VP, Corporate Controller. 

"Based in Singapore, Mr Oey will report directly to Anthony Tan, Grab’s group CEO and co-founder. Mr Oey will helm Grab’s finance operations, treasury, tax, procurement, and real estate and facilities department. Mr Oey will also work closely with Grab’s president Ming Maa, who will continue to lead strategic business planning for the company,” Grab said.

Tan said in the statement he looks forward to working together with Oey as the company navigates these turbulent times to deliver on its mission of empowering the lives of millions of Southeast Asians through technology.

"Last year, we made tremendous progress in growing our food delivery, payments and financial services businesses. The growth of these businesses gives us a good foundation for achieving long-term sustainable growth for our company,” Tan said.

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