Malaysia legalises e-hailing services as Grab, Uber compete to expand regional presence

Malaysia legalises e-hailing services as Grab, Uber compete to expand regional presence

FILE PHOTO - People wait for the start of ride-hailing company Grab's fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su/File Photo

Malaysia’s parliament on Thursday passed two bills that will legalise e-hailing services, as ride-hailing firms Grab and Uber Technologies Inc race to expand in the region.

Grab expects to raise $2.5 billion from investors in a bid to extend its lead over Uber in the region, as major companies aim to tap into Southeast Asia’s developing economies driven by a young and tech-savvy population.

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