Conflict of interest at Grab

Opening Bell 🔔 is Tech in Asia’s free newsletter that brings you the biggest news and latest trends around Asia’s publicly listed tech companies. [Read from your browser]( Opening Bell 🔔 Welcome to the Opening Bell! Delivered every Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asia’s publicly listed tech companies. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- Written by Samreen Ahmad Journalist Hello {NAME} A businessman’s net worth rose from [US$7 billionÂ]( US$124 billion]( in eight years, only to then nosedive by [US$60 billion]( in a matter of days - that sounds like a movie plot. But it is also the reality that India-based business magnate Gautam Adani faces. Formerly the third-richest person in the world, he slipped out of the top 10 list after US-based Hindenburg Research accused him and his companies of [“brazen stock manipulation and accounting fraud.”]( However, the Adani Group has [denied any wrongdoing.]( The Indian market regulator has started [looking into these allegations.]( But there is a twist in the plot: A [Securities and Exchange Board of India (SEBI)]( committee member is [reportedly]( a relative of Adani. This has raised questions over a conflict of interest in the probe. Conflict of interest is also making headlines in Singapore. Grab’s (GRAB, NDAQ) appointment of a Singapore member of parliament in a public affairs and policy role has raised eyebrows. In the Big Story this week, my colleague, Simon, digs into the controversial hiring of Tin Pei Ling, whether the Nasdaq-listed super app should have considered other options, and finds out why there has been so much backlash. While the appointment seems controversial, this is not the first time a company has hired a politically connected individual. As a response to the backlash, [Grab has now transitioned her to the corporate development vertical](. Read on to know more. -- Samreen  ---------------------------------------------------------------  THE BIG STORY [Is Tin Pei Ling’s job title at Grab too on the nose?]( Appointing a Singapore MP as public affairs chief has raised questions over conflicts of interest and may end up being counterproductive for Grab. ---------------------------------------------------------------  3 TRENDS TO KEEP EYE ON Hot stocks, earnings reports, restructuring, activist investor pressure and more. 1️⃣ Global tech layoffs continue: The layoff bloodbath continues at tech companies, with Disney (DIS, NYSE) and Zoom (ZM, NDAQ) employees falling prey to the economic turmoil last week. While Disney is set to shed [7,000 jobs, or 3.6% of its global workforce]( video conferencing platform Zoom said it will let go of [1,300 employees, or around 15% of its global headcount.]( These measures appear to be boosting investor sentiment, sending shares of both [Disney]( and [Zoom]( up. 2️⃣ Giving voice to WhatsApp status: Meta’s (META, NDAQ) WhatsApp has introduced a[ new featureÂ]( allows users to record and share voice messages of up to 30 seconds on their WhatsApp status. However, there’s no word yet on how this will help generate revenue. 3️⃣ Google to electrify EVs: Google (GOOG, NDAQ) knows where the future belongs. The tech giant is working on [building Google Maps for electric vehicles]( which will allow drivers to find nearby charging stations. Maps will also indicate other factors such as the EV’s charge level and how much energy it expects the EV to consume during long journeys. This could be seen as a part of the company’s global effort to decarbonize even as it rides on the EV wave. 2 EYE-POPPING NUMBERS Tech in Asia scours the internet to bring you head-turning numbers from the world of business. - [US$5.9 billion]( SoftBank’s (9984, TYO) net loss in the third quarter of FY 2022 as its venture funds continued to struggle.  - [US$100 billion]( The loss in market value of Google parent Alphabet as its new AI chatbot shared inaccurate information during its launch event. THE ONE YOU DIDN'T SEE COMING We spotlight the story that had everyone talking and social media buzzing during the past week. Microsoft has an ‘Edge’ over competition “[It’s a new day in search]( Microsoft (MFST, NDAQ) CEO Satya Nadella said last week while announcing a new version of the software giant’s search engine, Bing, and web browser, Edge - and rightly so. Finance expert Eddie Donmez [broke down]( how Edge can help analyze a stock quicker and better. Microsoft has integrated ChatGPT into Edge and Bing. If you want to analyze a company stock, just go to Edge and open a company’s earnings results. Next, select the Bing tab on the right-hand side of the Edge browser. This opens a chat section where you can ask for the key findings from the results. And voila! ChatGPT magically summarizes the results. It can also be used to compare the stocks of different companies. “It will give you an incredible output,” says Donmez. He adds that this will disrupt a lot of businesses, as it also will be integrated into Excel and PowerPoint very soon and allow users to easily build financial models and presentations. Microsoft seems to be positioning itself nicely to ride the next wave of innovation in professional software. That’s it for this edition - we hope you liked it! Not your cup of tea? You can unsubscribe from this newsletter by going to our preference center at the bottom of this email. Happy investing and see you next week! Disclaimer: This content is for informational purposes only. Kindly do not construe any such information as legal, tax, investment, financial, or other advice. [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894