Business
Pandemic delivers first crisis lessons to Southeast Asia’s Grab
SINGAPORE (Reuters) – In the early weeks of the coronavirus outbreak, Anthony Tan, the CEO of Southeast Asia’s biggest ride-hailing firm, recalls how he mistook the infection to be a China-only problem, similar to the Severe Acute Respiratory Syndrome in 2003.
As COVID-19 turned into a pandemic, sending markets into a tailspin, the 38-year-old sought advice from titans among his investors including Softbank’s Masayoshi Son and Microsoft’s Satya Nadella.
The message was clear. No one knew how long the crisis would last or how deep it would be. Tan, who co-founded Grab in 2012 with fellow Harvard Business School alumni Tan Hooi Lin, learnt he had to set thresholds and make decisive moves, even if they were unpopular.
“There’s no more debate, it’s just execution,” he said.
In June, the Singapore-based company laid off around 360 employees, just under 5% of its headcount, after slashing discretionary spending.
“I remember tears couldn’t stop rolling down my face. I don’t ever want to go through it again,” Tan said in his first interview since the layoffs.
The pandemic is the first crisis for Southeast Asia’s decade-old start-up ecosystem from which Grab has emerged a household name and the most valuable firm at over $14 billion.
Grab says its app has seen a total of 198 million downloads, although it has yet to turn profitable.
Operating in 351 cities across eight Southeast Asian countries, the company garnered global attention in 2018 when Uber (UBER.N) sold its regional business to the startup after a costly five-year battle. In return, Uber got a stake in Grab.
As coronavirus measures put the region of 650 million people under lockdown, Grab saw demand eroding for its transport business, but then nearly 150,000 of its drivers switched to becoming delivery men for home-bound customers.
“Food delivery has become the norm, grocery delivery is growing very fast, cashless payments is growing very fast, so these behaviours have changed permanently with or without a vaccine and we’ve been beneficiaries,” said Tan, who is preparing Grab for a future in which its users will at least partially work from home.
“You couldn’t ask for a better hedge,” Tan said in the living room of his Singapore penthouse, where he often spends 15 hours a day at his standing desk, sometimes exercising with dumbbells.
Delivering financial services
The company, which counts Indonesia as its biggest market and is locked in a fierce competition there with Jakarta-based Gojek, is doubling down on deliveries, with its two-year-old food business overtaking the mature transport division as its biggest segment.
It has had to scale back plans for its travel and hospitality service verticals as consumers stayed at home, but its finance business has been boosted by surging digital payments and small businesses seeking working capital loans. The financial services business includes wealth management, insurance and lending.
Backed by the likes of China’s Didi Chuxing and Japan’s MUFG, Grab was already transforming itself into an universal everyday app but the pandemic accelerated the plans, including providing more services for merchants.
The company, which says it has more than 9 million drivers, merchants and agents, is also awaiting the result of its application for an online banking licence in Singapore.
While the pandemic initially led to short-term thinking in a fight for survival, Tan said working from home for months and consultations with leaders from around the world has made him reflect and think longer term.
By “also just being insane and microscopic about costs”, Grab was now on a faster path to profitability, Tan said, without giving a time-frame.
Jixun Foo, managing partner at GGV Capital and an early backer of Grab, said speed was key.
“In good times, everybody is grabbing market share. When the tide turns, the best companies respond the fastest, they correct the fastest in terms of their business,” he said.
Reporting and photo: Reuters
Business
2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025
Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
Business
Bestbuy Maldives, MNU forge partnership to advance hospitality education
The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
Business
SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners
Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.
Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.
In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.
The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.
Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.
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