Grab reported higher revenue but also higher losses for its second quarter, and cut its full-year projections for several key metrics on Tuesday. But the company, which is preparing to list via a merger with a US special purpose acquisition company (SPAC), is up against some challenges. It could face speedbumps if regulations to protect gig economy workers are enacted in Singapore, but even that might take a backseat to the fierce competition it will face in Indonesia, where rivals are amassing significant war chests.
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