Grab said that the company will continue to maintain high threshold standards in capital use, adopt a balanced strategy to promote organic and sustainable profit growth, and maintain a high degree of prudence in non-organic investments, which is in line with the company's capital allocation framework.
The private car-hailing and delivery platform Grab, a US-listed Singaporean car-hailing and delivery platform, denied negotiating any potential deal with Indonesian rival GoTo.
Grab pointed out in a statement on Monday (June 9) that the two sides have not had any discussions at present and that Grab has not signed any binding agreement.
Previously, people familiar with the matter revealed that Grab is seeking to reach an agreement to acquire GoTo in the second quarter of this year, with a transaction value of up to US$7 billion (about S$9.1 billion).
Stefanus Ade Hadiwidjaja, managing director of investment at Indonesian sovereign fund Danantara, also said in a statement to Indonesian media on the same day that there was no relevant discussion.