Hello.
Grab held fast through the tech slump of late 2022 and early 2023, as companies went through rounds of layoffs. This changed last week, when Grab announced it would cut 1,000 jobs, or 11 per cent of its workforce.
Was Grab merely delaying the inevitable with these job cuts? With rising costs of capital and the imminent roll out of generative AI, investors have shifted from valuing growth at all costs to long-term profitability, says fintech CEO Jonathan Chang.
Meanwhile, Malaysia Prime Minister Anwar Ibrahim is making good on his promise to root out corruption from the country’s top ranks. But he has been accused of launching a political witch hunt after the anti-corruption agency reopened probes into decades-old transactions, widely believed to involve Dr Mahathir Mohamad. With the bad blood between the two men, it is hard not to see these developments through a political prism, says CNA’s Leslie Lopez.
Finally, don’t forget to pack a reusable bag when going to the supermarket from Monday, when the plastic bag charge kicks in. With some Singapore supermarkets opting for an “honour system”, can customers be trusted to pay for each plastic bag they take at self-checkout counters? SUTD researchers Samuel Chng and Harvey Neo give their take.
We hope you enjoy our selection of commentaries this week.
Erin Low
Commentary, CNA Digital
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