2-11-2023 (KUALA LUMPUR) Delivery Hero, the parent company of foodpanda, is reportedly considering the sale of its Malaysian foodpanda business by December 2023, according to anonymous sources cited by the New Straits Times on November 2.
The sources revealed that most of the staff at foodpanda Malaysia were unaware of the potential sale, although some individuals anticipated the situation and have begun seeking alternative employment options.
When approached for comment, foodpanda Malaysia stated that they had “nothing new” to disclose regarding the matter.
Additionally, German business magazine Wirtschaftswoche, which initially broke the news on September 20, reported that Delivery Hero is planning to sell its foodpanda businesses in seven Southeast Asian markets, including Malaysia, Singapore, Cambodia, Laos, Myanmar, Thailand, and the Philippines.
Being the second-largest food delivery company in Southeast Asia, foodpanda currently holds a market share of 30 to 40 percent in each of its operating countries, as stated by the New Straits Times.
The total value of these potential deals is still under negotiation, as reported by Reuters.
Among the potential buyers for these foodpanda operations, there are rumors suggesting that Grab, a prominent player in the ride-hailing and food delivery industry, could be interested.
In the second quarter of 2023, ending on June 30, Grab announced a remarkable 77 percent year-on-year revenue growth, amounting to US$567 million (approximately S$775 million). A significant portion of this revenue was generated from Grab’s food delivery business.
On November 9 at 8pm, Grab is scheduled to unveil its financial results for the third quarter of 2023, including revenue figures. It is anticipated that the company will achieve a break-even point on an adjusted core earnings basis for the mentioned period.
