When it come to platform tech companies in Malaysia, we could see that certain sectors are kind of locked in a duopoly.
- Food Delivery: Foodpanda vs GrabFood
- eCommerce: Lazada vs Shopee
- On Demand Delivery: Lalamove vs Grab Express
But it's also to note that in the eWallet space there's a 3 way fight between GrabPay, TnGo and Boost.
As such you can see that after wining the eHailing war Grab is now fighting on three other fronts. Each front is a cutthroat battle on its own but fighting three at the same time is simply bonkers. This is just in Malaysia, they are fighting similar situation in Indonesia and Singapore as well.
At this rate, they can only survive by winning it all. Especially since winning the eHailing war is rather pointless now with the recurring lockdown. That was supposed to be their cash cow but now it's looking rather thin as well.
My guess is that it all depends on how long the pandemic drags on. If it's just another year, Grab will be in a great position. Anything more than that will seriously dim their prospect.