Philippine authorities are investigating a disturbing incident involving a Vietnamese woman who was robbed and sexually assaulted after booking a car ride through Grab Holdings Limited. The Land Transportation Franchising and Regulatory Board (LTFRB) has indicated that Grab could face a suspension of up to 30 days if found negligent in ensuring passenger safety.
The incident, reported by Bloomberg, unfolded on September 5th when the Vietnamese woman, having booked a Grab ride in the Philippine capital, was surprised by the driver allowing an additional passenger into the vehicle. This additional passenger then proceeded to steal 35,000 pesos ($624) in cash and her mobile phone before sexually assaulting her in the car.
Police have apprehended the driver in the nearby Laguna province. In response to the incident, Grab’s Philippine unit has issued a statement expressing their commitment to working with the police and transportation agency to enhance passenger safety. They have also banned the driver from the platform and reiterated their “strict zero-tolerance policy” against any form of misconduct.
This incident has highlighted concerns about passenger safety on ride-hailing platforms. While Grab has pledged to take measures to improve security, the potential suspension serves as a strong reminder of the responsibility ride-hailing companies have to protect their passengers.
In the wake of this incident, Grab Holdings’ stock has seen a decline, falling over 9% in the past year. Investors interested in the company can explore investment options through ETFs such as Tremblant Global ETF TOGA and iShares Inc iShares MSCI Singapore ETF EWS. As of Thursday, Grab Holdings shares are trading down by 0.29% at $3.44.
