Central Retail Corporation, Thailand’s leading retail conglomerate, has announced the conclusion of a partnership deal with the Thai unit of Singapore-headquartered ride-hailing application Grab, Grab Taxi Holding (Thailand) Company Limited.

 

Central invested 4.5 billion baht to purchase 133,545,740 shares, or a 67% share of Porto Worldwide Limited, a shareholder in Grab Taxi Holding Thailand, which will enable the retailing giant to acquire a significant non-controlling stake in Grab’s Thailand unit.

 

The landmark investment represents the first time an investor has bought into a local Grab unit and will help strengthen Central’s businesses, which cover restaurants, hotels and more than 30 malls in Thailand. It also has operations in other markets, including Vietnam and Indonesia.

 

Full Story: https://www.thaipbsworld.com/central-retail-corp-invests-฿4-5-bn-in-grab-thailand-shares/

 

-- © Copyright Thai PBS 2021-12-02

 

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Going all in it appears 

Perhaps they read the writing on the wall with regards to the decline in retail shopping centers and decline in mainstream department stores. Central might be very prudent to diversify. 

 

15 hours ago, snoop1130 said:

The landmark investment represents the first time an investor has bought into a local Grab unit and will help strengthen Central’s businesses, which cover restaurants, hotels and more than 30 malls in Thailand. It also has operations in other markets, including Vietnam and Indonesia.

A strategic move in these times, customer base is down in malls as far as eat-in food is concerned, so get involved in the take-away delivery service.

3 hours ago, hotchilli said:

A strategic move in these times, customer base is down in malls as far as eat-in food is concerned, so get involved in the take-away delivery service.

Grab is more than just food delivery. An amazing success story that was founded as a taxi-hailing company 9 years ago by a Malaysian and since headquatered in Singapore and debuted in DOW. 

This explains why of late Grab deliveries don't turn up in the rain and when they do some items are accidentally substituted as they have more than one delivery in their bag!

4 hours ago, Eric Loh said:

Grab is more than just food delivery. An amazing success story that was founded as a taxi-hailing company 9 years ago by a Malaysian and since headquatered in Singapore and debuted in DOW. 

So they actually make a profit, not like some of the other taxi/food delivery types?