Post by Joel Tan

Ask any Southeast Asian and chances are they’ve tapped on Grab more times this week than they can count. How often do you find a company that reflects Southeast Asia’s growth, runs diversified businesses, has low customer acquisition costs for lateral offerings, and is building growth engines that could rake in hundreds of millions in the future? For us, that company was Grab 🛵 🥡 🚕 Honoured that our team took this thesis all the way to the APAC Regionals of the CFA Institute Research Challenge 2026, representing National University of Singapore and Singapore, and shining a spotlight on a homegrown champion on the regional stage. Gutted not to have proceeded to the Finals, but incredibly proud of what we built together, the late nights, and laughs shared with my teammates along the way. Our call on Grab was simple: Deepening market penetration and competitor exits, with new revenue engines like GrabAds; Proprietary infrastructure driving lower CAC and better unit economics; A scaling fintech arm monetising SEA’s underbanked population and expanding its loan book. With Grab's stock at US$3.62 as of 2 April 2026, that represents more than 85% upside if we're right! Whether or not we got the price right, one thing is clear — Southeast Asia is a market you cannot afford to ignore, and Grab sits right at the heart of it. To my teammates Xavier Yeo, Qiyang Ke, Teo Xiu Lin, Hanbing Xia that I met through Next Generation Investment Office, this one's for the books. Onwards and upwards 🌏🚀