Grab to Retool in Indonesia After Abrupt Ride-Commission Cut

Grab Holdings Ltd. plans to adjust its Indonesian business after Jakarta’s surprise edict to lower the ride-hailing commissions it can charge, though executives expect the decree to cover just a fraction of its fleet.

Chief Financial Officer Peter Oey, addressing the unprecedented move after Grab reported better-than-anticipated results, said the company now needs to alter its business model in its biggest market. Still, based on Indonesia’s initial announcement, the move by regulators is likely to only apply to two-wheel riders and not car drivers, limiting its impact, Oey said.