Competition remained intense, with new entrants such as Green & Smart Mobility JSC vying with Grab in populous markets like Indonesia and Vietnam.SINGAPORE: Grab Holdings raised its full-year revenue and profit forecasts after quarterly earnings beat estimates, signalling confidence that rising ride-hailing and food-delivery demand across Southeast Asia will offset regulatory hurdles.

Sales will rise to US$4.15 billion to US$4.2 billion this year, while adjusted earnings before interest, taxes, depreciation and amortisation will be as much as US$800 million, the company said Tuesday. In August, it had forecast sales of as much as US$4.15 billion and earnings on that basis of up to US$740 million.