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Olivia Poh
Singapore’s Grab Holdings Ltd., once Southeast Asia’s most valuable startup, is faltering behind GoTo Group in the public markets as it fights to gain ground on its Indonesian ride-hailing rival’s home turf.
The unprofitable companies are both struggling to convince investors of their moneymaking potential after staging their stock-market debuts in recent months. Yet GoTo has fallen less than its competitor and its market value of about $26 billion is now twice that of its Singaporean peer. The companies are each set to report quarterly earnings in the coming days.