On Indonesia, it's a key market for us. Our business continues to perform strongly there. It remains a very competitive market. But what we're seeing is that the product-led growth strategy that we've been talking about for the last few quarters is driving an increase in MTUs for both deliveries and mobility. Particularly, the affordability strategy is bringing in a lot of Grab bike and Grab car saver users at the lower end of the pricing ladder. And at the top end, Indonesia still has a lot of wealthy customers, and we've launched Grab Executive there for mobility. And there's a lot of domestic tourism and business travel, which is helping drive our high-value rides and our priority food delivery services. We're also growing GrabMart, which is helping to drive those elevated levels of the delivery at GMV growth that we're seeing. So overall, it's a reflection, a microcosm of what we're doing across the group. I would say you can't see these in the numbers, but I can tell you that there's strong growth in Indonesia. and a strong sequential margin improvement as well. So we're very comfortable with what we're doing in terms of the market position and our penetration of the overall opportunity in Indonesia, which remains huge and something we continue to be excited about as we invest in that country.

Nov 4, 2025 / receipt, needs a key / Alex Hungate, President and Chief Operating Officer | earnings call 2025-11-04 | transcript 70a66365-7b2e-449f-8273-5ccd9bb4ad25 | chars 4951-6270 | segment 4

Mobility is also pacing strongly, as you saw, so 30% year-on-year GMV growth from high-value mobility rides. So these are the new services that we've launched, particularly advanced booking, which is very popular with both travelers and executives.

Nov 11, 2024 / COO / receipt, needs a key / Alex Hungate, COO | earnings call 2024-11-11 | transcript c8b930d4-0433-498b-be06-8edb3f289fbe | chars 5382-5630 | segment 5

Our efforts to capitalize on growing inbound tourism through strategic initiatives over the past few quarters have paid off, such as partnerships with Ctrip, Alipay, WeChat, and Booking.com to target the traveler segment and improving brand visibility at major international airports across the region.

May 15, 2024 / COO / receipt, needs a key / Alex Hungate, COO | earnings call 2024-05-15 | transcript 7d7bca38-c59c-45bb-af99-118f0115309b | chars 10172-10474 | segment 10