Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-41110 |
Entity Registrant Name | GRAB HOLDINGS LIMITED |
Entity Central Index Key | 0001855612 |
Current Fiscal Year End Date | --12-31 |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | 3 Media Close, #01-03/06 |
Entity Address, City or Town | Singapore |
Entity Address, Country | SG |
Entity Address, Postal Zip Code | 138498 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | true |
Auditor Name | KPMG LLP |
Auditor Location | Singapore |
Auditor Firm ID | 1051 |
Document Accounting Standard | International Financial Reporting Standards |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | 3 Media Close, #01-03/06 |
Entity Address, City or Town | Singapore |
Entity Address, Country | SG |
Entity Address, Postal Zip Code | 138498 |
Contact Personnel Name | Christopher Betts |
Contact Personnel Email Address | investor.relations@grab.com |
City Area Code | 855 |
Local Phone Number | 739-7864 |
Class A Ordinary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Class A ordinary shares, par value $0.000001 per share |
Trading Symbol | GRAB |
Security Exchange Name | NASDAQ |
Entity Common Stock, Shares Outstanding | 3,736,043,725 |
Class B Ordinary Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 125,779,860 |
Warrants [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Warrants, each exercisable for one Class A ordinary share at an exercise price of $11.50 |
Trading Symbol | GRABW |
Security Exchange Name | NASDAQ |
Entity Common Stock, Shares Outstanding | 25,999,981 |
Consolidated statement of finan
Consolidated statement of financial position - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current assets | ||
Property, plant and equipment | $ 492 | $ 441 |
Intangible assets and goodwill | 904 | 675 |
Associates and joint venture | 107 | 14 |
Deferred tax assets | 20 | 5 |
Other investments | 1,742 | 1,241 |
Prepayments and other assets | 217 | 127 |
Non-current assets | 3,482 | 2,503 |
Current assets | ||
Inventories | 48 | 4 |
Trade and other receivables | 372 | 255 |
Prepayments and other assets | 182 | 185 |
Other investments | 3,134 | 3,240 |
Cash and cash equivalents | 1,952 | 4,991 |
Current assets | 5,688 | 8,675 |
Total assets | 9,170 | 11,178 |
Equity | ||
Share capital and share premium | 22,278 | 21,529 |
Reserves | 602 | 606 |
Accumulated losses | (16,277) | (14,402) |
Equity attributable to owners of the Company | 6,603 | 7,733 |
Non-controlling interests | 54 | 286 |
Total equity | 6,657 | 8,019 |
Non-current liabilities | ||
Loans and borrowings | 1,248 | 2,031 |
Provisions | 18 | 18 |
Other liabilities | 132 | 81 |
Deferred tax liabilities | 18 | 3 |
Non-current liabilities | 1,416 | 2,133 |
Current liabilities | ||
Loans and borrowings | 117 | 144 |
Provisions | 38 | 35 |
Trade payables and other liabilities | 933 | 844 |
Current tax liabilities | 9 | 3 |
Current liabilities | 1,097 | 1,026 |
Total liabilities | 2,513 | 3,159 |
Total equity and liabilities | $ 9,170 | $ 11,178 |
Consolidated statement of profi
Consolidated statement of profit or loss and other comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Profit or loss [abstract] | |||
Revenue | $ 1,433 | $ 675 | $ 469 |
Cost of revenue | (1,356) | (1,070) | (963) |
Other income | 17 | 12 | 33 |
Sales and marketing expense | (279) | (241) | (151) |
General and administrative expense | (647) | (545) | (326) |
Research and development expense | (466) | (356) | (257) |
Net impairment loss on financial assets | (58) | (19) | (63) |
Other expenses | (17) | (11) | (40) |
Operating loss | (1,373) | (1,555) | (1,298) |
Finance income | 107 | 28 | 53 |
Finance costs | (166) | (1,701) | (1,448) |
Net change in fair value of financial assets and liabilities | (294) | 37 | (42) |
Share listing and associated expenses | 0 | (353) | 0 |
Net finance costs recognized in profit or loss | (353) | (1,989) | (1,437) |
Share of loss of equity-accounted investees (net of tax) | (8) | (8) | (8) |
Loss before income tax | (1,734) | (3,552) | (2,743) |
Income tax expense | (6) | (3) | (2) |
Loss for the year | (1,740) | (3,555) | (2,745) |
Items that will not be reclassified to profit or loss: | |||
Defined benefit plan remeasurements | 2 | 1 | (2) |
Investments and put liabilities at FVOCI - net change in fair value | (3) | 0 | 0 |
Items that are or may be reclassified subsequently to profit or loss: | |||
Foreign currency translation differences - foreign operations | (42) | (42) | 5 |
Other comprehensive (loss)/ income for the year, net of tax | (43) | (41) | 3 |
Total comprehensive loss for the year | (1,783) | (3,596) | (2,742) |
Loss attributable to: | |||
Owners of the Company | (1,683) | (3,449) | (2,608) |
Non-controlling interests | (57) | (106) | (137) |
Loss for the year | (1,740) | (3,555) | (2,745) |
Total comprehensive loss attributable to: | |||
Owners of the Company | (1,729) | (3,489) | (2,599) |
Non-controlling interests | (54) | (107) | (143) |
Total comprehensive loss for the year | $ (1,783) | $ (3,596) | $ (2,742) |
Loss per share | |||
Basic loss per share | $ (0.44) | $ (6.39) | $ (14.39) |
Diluted loss per share | $ (0.44) | $ (6.39) | $ (14.39) |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | Share capital | Share premium | Accumulated losses | CRPS reserve | Other reserve | Share-based payment reserve | Foreign currency translation reserve | Equity (deficit) attributable to owners of the Company | Non- controlling interests |
Beginning balance at Dec. 31, 2019 | $ (4,224) | $ 79 | $ (7,982) | $ 3,552 | $ 49 | $ 11 | $ (4,291) | $ 67 | ||
Loss for the period | (2,745) | $ 0 | 0 | (2,608) | 0 | 0 | 0 | (2,608) | (137) | |
Other comprehensive income | ||||||||||
Exchange differences on translation of foreign operations | 5 | 0 | 0 | 0 | 0 | 0 | 11 | 11 | (6) | |
Defined benefit plan remeasurements | (2) | 0 | 0 | (2) | 0 | 0 | 0 | (2) | 0 | |
Investments and put liabilities at FVOCI - net change in fair value | 0 | |||||||||
Total other comprehensive loss | 3 | 0 | 0 | (2) | 0 | 0 | 11 | 9 | (6) | |
Total comprehensive loss for the period | (2,742) | 0 | 0 | (2,610) | 0 | 0 | 11 | (2,599) | (143) | |
Contributions by owners | ||||||||||
Acquisition of subsidiary | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | ||
Share options exercised/restricted stock units vested | 3 | 27 | 0 | 0 | (24) | 0 | 3 | 0 | ||
Equity component of convertible redeemable preference shares ("CRPS") | 298 | 0 | 0 | 0 | 298 | 0 | 0 | 298 | 0 | |
Share-based payment | 54 | 0 | 0 | 0 | 0 | 54 | 0 | 54 | 0 | |
Total contributions by owners | 356 | 28 | 0 | 298 | 30 | 0 | 356 | 0 | ||
Changes in ownership interests in subsidiaries | ||||||||||
Changes in non-controlling interests without a loss of control | 316 | 0 | 33 | 102 | 0 | 0 | 0 | 135 | 181 | |
Total changes in ownership interests in subsidiaries | 316 | 0 | 33 | 102 | 0 | 0 | 0 | 135 | 181 | |
Total transactions with owners | 672 | 61 | 102 | 298 | 30 | 0 | 491 | 181 | ||
Ending balance at Dec. 31, 2020 | (6,294) | 140 | (10,490) | 3,850 | $ 0 | 79 | 22 | (6,399) | 105 | |
Loss for the period | (3,555) | 0 | 0 | (3,449) | 0 | 0 | 0 | 0 | (3,449) | (106) |
Other comprehensive income | ||||||||||
Exchange differences on translation of foreign operations | (42) | 0 | 0 | 0 | 0 | 0 | 0 | (41) | (41) | (1) |
Defined benefit plan remeasurements | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 0 |
Investments and put liabilities at FVOCI - net change in fair value | 0 | |||||||||
Total other comprehensive loss | (41) | 0 | 0 | 1 | 0 | 0 | 0 | (41) | (40) | (1) |
Total comprehensive loss for the period | (3,596) | 0 | 0 | (3,448) | 0 | 0 | 0 | (41) | (3,489) | (107) |
Contributions by owners | ||||||||||
Share options exercised/restricted stock units vested | 46 | 97 | 0 | 0 | 0 | (51) | 0 | 46 | 0 | |
Equity component of convertible redeemable preference shares ("CRPS") | 27 | 0 | 0 | 0 | 27 | 0 | 0 | 0 | 27 | 0 |
Share-based payment | 357 | 0 | 0 | 0 | 0 | 0 | 357 | 0 | 357 | 0 |
Issuance of ordinary shares upon Reverse Recapitalization (refer to Note 1 for definition), net of issuance costs | 4,642 | 4,642 | 0 | 0 | 0 | 0 | 0 | 4,642 | 0 | |
Conversion of CPRS into GHL ordinary shares as part of the Reverse Recapitalization | 12,773 | 16,650 | 0 | (3,877) | 0 | 0 | 0 | 12,773 | 0 | |
Total contributions by owners | 17,845 | 21,389 | 0 | (3,850) | 0 | 306 | 0 | 17,845 | 0 | |
Changes in ownership interests in subsidiaries | ||||||||||
Changes in non-controlling interests without a loss of control | 64 | 0 | 0 | (464) | 0 | 243 | (3) | 0 | (224) | 288 |
Total changes in ownership interests in subsidiaries | 64 | 0 | (464) | 0 | 243 | (3) | 0 | (224) | 288 | |
Total transactions with owners | 17,909 | 21,389 | (464) | (3,850) | 243 | 303 | 0 | 17,621 | 288 | |
Ending balance at Dec. 31, 2021 | 8,019 | 21,529 | (14,402) | $ 0 | 243 | 382 | (19) | 7,733 | 286 | |
Loss for the period | (1,740) | 0 | 0 | (1,683) | 0 | 0 | 0 | (1,683) | (57) | |
Other comprehensive income | ||||||||||
Exchange differences on translation of foreign operations | (42) | 0 | 0 | 0 | 0 | 0 | (48) | (48) | 6 | |
Defined benefit plan remeasurements | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 2 | 0 | |
Investments and put liabilities at FVOCI - net change in fair value | (3) | (1) | (2) | |||||||
Total other comprehensive loss | (43) | 0 | 0 | 1 | 0 | (48) | (47) | 4 | ||
Total comprehensive loss for the period | (1,783) | 0 | 0 | (1,682) | 0 | (48) | (1,730) | (53) | ||
Contributions by owners | ||||||||||
Acquisition of subsidiary | (23) | 46 | 0 | (90) | 0 | 0 | (44) | 21 | ||
Share options exercised/restricted stock units vested | 8 | 286 | 0 | 0 | (278) | 0 | 8 | 0 | ||
Share-based payment | 412 | $ 0 | 0 | 0 | 0 | 412 | 0 | 412 | 0 | |
Total contributions by owners | 397 | 332 | 0 | (90) | 134 | 0 | 376 | 21 | ||
Changes in ownership interests in subsidiaries | ||||||||||
Changes in non-controlling interests without a loss of control | 24 | 417 | (193) | 0 | 0 | 0 | 224 | (200) | ||
Total changes in ownership interests in subsidiaries | 24 | 417 | (193) | 0 | 0 | 0 | 224 | (200) | ||
Total transactions with owners | 421 | 749 | (193) | (90) | 134 | 0 | 600 | (179) | ||
Ending balance at Dec. 31, 2022 | $ 6,657 | $ 22,278 | $ (16,277) | $ 153 | $ 516 | $ (67) | $ 6,603 | $ 54 |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Loss before income tax | $ (1,734) | $ (3,552) | $ (2,743) |
Adjustments for | |||
Amortization of intangible assets | 21 | 236 | 261 |
Depreciation of property, plant and equipment | 129 | 109 | 126 |
Impairment of intangible assets and goodwill | 3 | 8 | 28 |
Impairment of property, plant and equipment | 3 | 7 | 15 |
Equity-settled share-based payments | 412 | 357 | 54 |
Finance costs | 166 | 1,701 | 1,448 |
Net change in fair value of financial assets and liabilities | 294 | (37) | 42 |
Net impairment loss on financial assets | 58 | 19 | 63 |
Finance income | (107) | (28) | (53) |
(Gain)/Loss on disposal of property, plant and equipment | (3) | (1) | 9 |
Loss on disposal of intangible assets | 0 | 0 | |
Gain on disposal of associate | 0 | (2) | 0 |
Gain on disposal of subsidiary | (2) | 0 | 0 |
Share listing and associated expenses | 0 | 353 | 0 |
Share of loss of equity-accounted investees (net of tax) | 8 | 8 | 8 |
Change in provisions | 3 | 15 | 31 |
Adjustments to reconcile profit (loss) | (749) | (807) | (711) |
Changes in: | |||
- Inventories | 6 | (1) | 2 |
- Deposits pledged | 0 | (99) | 0 |
- Trade and other receivables | (160) | (181) | 31 |
- Trade and other payables | 131 | 137 | 42 |
Cash used in operations | (772) | (951) | (636) |
Income tax paid | (26) | (3) | (7) |
Net cash used in operating activities | (798) | (954) | (643) |
Cash flows from investing activities | |||
Acquisition of property, plant and equipment | (58) | (73) | (22) |
Purchase of intangible assets | (16) | (12) | (18) |
Proceeds from disposal of property, plant and equipment | 12 | 25 | 63 |
Acquisition of businesses, net of cash acquired | 0 | 0 | (3) |
Acquisition of additional interests in associate | (109) | (16) | 0 |
Proceeds From Disposal Of Associate | 3 | 8 | 0 |
Acquisition of subsidiaries with non-controlling interests, net of cash acquired, and loan receivables | (266) | 0 | 0 |
Net acquisitions of other investments | (683) | (2,717) | (359) |
Interest received | 55 | 28 | 51 |
Net cash (used in)/from investing activities | (1,062) | (2,757) | (288) |
Cash flows from financing activities | |||
Proceeds from the Reverse Recapitalization | 0 | 4,425 | 0 |
Proceeds from share-based payment arrangements | 8 | 46 | 5 |
Payment Of Listing Expense | (39) | 0 | 0 |
Proceeds from bank loans | 109 | 1,980 | 8 |
Repayment of bank loans | (1,019) | (176) | (106) |
Payment of lease liabilities | (35) | (24) | (30) |
Proceeds from issuance of convertible redeemable preference shares | 0 | 463 | 1,389 |
Acquisition of non-controlling interests without change in control | (15) | (460) | |
Proceeds from subscription of shares in subsidiaries by non-controlling interests without change in control | 32 | 443 | 329 |
Deposits pledged | (3) | (23) | 0 |
Interest paid | (160) | (108) | (17) |
Net cash from financing activities | (1,122) | 6,566 | 1,578 |
Net increase in cash and cash equivalents | (2,982) | 2,855 | 647 |
Cash and cash equivalents at January 1 | 4,991 | 2,173 | 1,511 |
Effect of exchange rate fluctuations on cash held | (57) | (37) | 15 |
Cash and cash equivalents at December 31 | $ 1,952 | $ 4,991 | $ 2,173 |
Domicile and activities
Domicile and activities | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Domicile and activities | 1. Domicile and activities Grab Holdings Limited (the “Company” or “GHL”), is a company incorporated in the Cayman Islands. The address of the Company’s registered office is Harbour Place, 2nd Floor, 103 South Church Street, P.O. Box 472, George Town, KYI-1106, Cayman Islands. The principal executive office of the Company is 3 Media Close, #01-03/06, Singapore 138498. The Company was formed to facilitate the public listing and additional capitalization (referred to collectively as the “Reverse Recapitalization”) of Grab Holdings Inc. (“GHI”) and its subsidiaries (together referred to as “GHI Group”). GHI Group enables access to mobility, delivery, financial services and enterprise offerings in Southeast Asia through its mobile application (the “Grab Platform”). The Reverse Recapitalization (see Note 11) was effectuated by • a special purpose acquisition company (“SPAC”) Altimeter Growth Corp (“AGC”), incorporated in the Cayman Islands and listed on the Nasdaq Stock Market (“NASDAQ”); merging on December 1, 2021 with J2 Holdings Inc., incorporated in the Cayman Islands and a direct wholly owned subsidiary of GHL; with J2 Holdings Inc. surviving and remaining as a wholly owned subsidiary of GHL; • GHI merging on December 1, 2021 with J3 Holdings Inc., incorporated in the Cayman Islands and a direct wholly owned subsidiary of GHL; with GHI surviving and becoming a wholly owned subsidiary of GHL; • additional capitalization by way of the issuance of GHL shares and warrants to third party investors on December 1, 2021 pursuant to investment commitments in previously agreed subscription agreements; and • the Company becoming a publicly traded company on NASDAQ on December 2, 2021. These consolidated financial statements comprise the Company and its subsidiaries (together referred to as the “Group” and individually as “Group entities”) and the Group’s interest in equity-accounted investees. As described in Note 11, these consolidated financial statements have been presented as a continuation of the GHI Group. |
Going concern
Going concern | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Going concern | 2. Going concern These consolidated financial statements have been prepared on a going concern basis, which assumes that the Group will be able to discharge its liabilities in the ordinary course of business. The assets of the Group exceed its liabilities by $ 6,657 million as at December 31, 2022 and the Group has incurred a net loss after tax of $ 1,740 million for the year ended December 31, 2022. As at December 31, 2022, the Group has deposits with banks and financial institutions and cash and cash equivalents of $ 5,696 million available. Based on these factors and in consideration of the Group’s business plans, budgets and forecasts, management has a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. |
Basis of preparation
Basis of preparation | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Basis of preparation | 3. Basis of preparation 3.1. Statement of compliance The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Details of the Group’s accounting policies, including changes thereto, are included in Notes 3.5 and 4. 3.2. Basis of measurement These consolidated financial statements have been prepared on the historical cost basis except as otherwise indicated in the accounting policies. 3.3. Functional and presentation currency These consolidated financial statements are presented in United States dollars ($), which is the Company’s functional currency. All information presented in $ have been rounded to the nearest million, unless otherwise stated. 3.4. Use of estimates and judgments The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes: • Notes 4.11 and 18 – Revenue recognition: principal vs. agent considerations and customer identification Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included in the following notes: • Note 5 – Impairment test of property, plant and equipment: key assumptions underlying recoverable amounts. • Note 6 – Impairment test of intangible assets and goodwill: key assumptions underlying recoverable amounts. • Notes 4.4 (i) and 24 – Measurement of expected credit losses (“ECL”) for financial assets; and • Notes 14 and 27 – Recognition and measurement of provisions and contingencies: key assumptions about the likelihood and magnitude of an outflow of resources. Measurement of fair values A number of the Group’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities. As part of an established control framework, significant unobservable inputs and valuation adjustments are regularly reviewed. If third party information, such as broker quotes or pricing services, is used to measure fair values, such information is assessed to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. When measuring the fair value of an asset or a liability, the Group uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement (with Level 3 being the lowest). The Group recognizes transfers between levels of the fair value hierarchy as of the end of the reporting year during which the change has occurred. Further information about the assumptions made in measuring fair values is included in the following notes: • Note 6 – Intangible assets and goodwill, • Note 17 – Share-based payment arrangements, • Note 24 – Financial instruments, and • Note 26 – Business combinations 3.5. Change in accounting policies and comparative information i) Change in accounting policies • The Group has adopted Onerous Contracts – Costs of Fulfilling a Contract (Amendments to IAS 37) from 1 January 2022. This resulted in a change in accounting policy for performing an onerous contracts assessment. Previously, the Group included only incremental costs to fulfill a contract when determining whether that contract was onerous. The revised policy is to include both incremental costs and an allocation of other direct costs. The Group has analyzed contracts existing at 1 January 2022 and determined that there is no significant impact on the opening equity balances as at 1 January 2022 as a result of the change. • In consideration of the IFRS Interpretations Committee agenda decision on Demand Deposits with Restrictions on Use arising from a Contract with a Third Party in 2022, restricted cash balances (Note 10) previously included within cash and cash equivalents presented in the statement of financial position, but not within cash and cash equivalents presented in the statement of cash flows, have now been presented within cash and cash equivalents in both statements for a consistency in understanding of the Group financial position and cash flows. This change in presentation has been retrospectively applied. The change in comparative information has resulted in the amount of cash and cash equivalents presented in the statement of cash flows as at 31 December 2021 being updated from $ 4,838 million to $ 4,991 million (31 December 2020: from $ 2,004 million to $ 2,173 million, 31 December 2019: from $ 1,372 million to $ 1,511 million) to include the restricted cash balances, with an associated update to the amount of net increase in cash and cash equivalents during 2021 from $ 2,871 million to $ 2,855 million (2020: from $ 617 million to $ 647 million). ii) Change in comparative information For the purpose of comparability, the following changes in presentation from prior years have been reflected in relevant comparative information as follows: • Warrant liabilities previously presented as a separate caption in the statement of financial position, has been integrated into Other liabilities (Note 15) based on the materiality and nature of the instruments. • Net change in fair value of financial assets and liabilities previously presented within the Finance income and Finance costs captions (Note 20), has been presented as a separate caption in the statement of profit or loss to provide additional information on the face of the statement of profit and loss. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | |
Significant accounting policies | 4. Significant accounting policies The Group has consistently applied the following accounting policies to all years presented in these consolidated financial statements except as described in Note 3.5, which addresses changes in accounting policies. 4.1. Basis of consolidation i) Business combinations The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. The Group has an option to apply a ‘concentration test’ that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The optional concentration test is met if substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The Group measures goodwill at the date of acquisition, considering the following factors: • the fair value of the consideration transferred; • the recognized amount of any non-controlling interests (“NCI”) in the acquiree; • if the business combination is achieved in stages, the fair value of the pre-existing equity interest in the acquiree, over the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed. Any goodwill that arises is tested annually for impairment. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. When the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss. Any contingent consideration payable is recognized at fair value at the date of acquisition and included in the consideration transferred. If the contingent consideration that meets the definition of financial instruments is classified as equity, it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes to the fair value of the contingent consideration are recognized in profit or loss. When share-based payments awards (replacement awards) are exchanged for awards held by the acquiree’s employees (acquiree’s awards) and related to past services, then all or a portion of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based value of the replacement awards compared with the market-based value of the acquiree’s awards and the extent to which the replacement awards related to past and/or future service. NCI that are present ownership interests and entitle their holders to a proportionate share of the acquiree’s net assets in the event of liquidation are measured either at fair value or at the NCI’s proportionate share of the recognized amounts of the acquiree’s identifiable net assets, at the date of acquisition. The measurement basis taken is elected on a transaction-by-transaction basis. All other NCI are measured at acquisition-date fair value, unless another measurement basis is required by IFRSs. When the Group enters into a put option agreement with NCI shareholders in an existing subsidiary on their equity interests in that subsidiary, the Group recognizes a liability for the present value of the exercise price of the option that is expected to be settled in cash. If the NCI shareholders have present access to the returns until exercise of the option, the financial liability is recognized separately with a corresponding recognition within equity. Subsequent changes in the measurement of this liability are recognized within equity. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, that the Group incurs in connection with a business combination are expensed as incurred. Changes in the Group’s interest in a subsidiary that do not result in a loss of control are accounted for as transactions with owners in their capacity as owners and therefore no adjustments are made to goodwill and no gain or loss is recognized in profit or loss. Adjustments to NCI arising from transactions that do not involve the loss of control are based on a proportionate amount of the net assets of the subsidiary. ii) Reverse acquisitions A ‘reverse acquisition’ is a merger of entities in which, for accounting purposes, the legal acquirer is identified as the accounting acquiree and the legal acquiree is identified as the accounting acquirer. The identification of the accounting acquirer and acquiree is based on the principles of business combination accounting. If the accounting acquiree is identified as a business, business combination accounting is applied. However if the accounting acquiree does not meet the definition of a business, share-based payment accounting is applied for share based consideration. iii) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed when necessary to align them with the policies adopted by the Group. Losses applicable to the NCI in a subsidiary are allocated to the NCI even if doing so causes the NCI to have a deficit balance. iv) Acquisitions from entities under common control Business combinations arising from transfers of interests in entities that are under the control of the shareholder that controls the Group are accounted for as if the acquisition had occurred at the beginning of the earliest comparative year presented or, if later, at the date that common control was established; for this purpose, comparatives are restated. The assets and liabilities acquired are recognized at the carrying amounts recognized previously in the Group controlling shareholder’s consolidated financial statements. The components of equity of the acquired entities are added to the same components within Group equity and any gain/loss arising is recognized directly in equity. v) Loss of control Upon the loss of control, the Group derecognizes the assets and liabilities of the subsidiary, any NCI, and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognized in profit or loss. If the Group retains any interest in the former subsidiary, then such interest is measured at fair value at the date that control is lost. vi) Investments in associates and joint ventures (equity-accounted investees) Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies of these entities. Significant influence is presumed to exist when the Group holds 20 % or more of the voting power of another entity. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in associates and joint ventures are accounted for using the equity method. They are recognized initially at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income (“OCI”) of equity-accounted investees, after adjustments to align the accounting policies with those of the Group, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When the Group’s share of losses exceeds its investment in an equity-accounted investee, the carrying amount of the investment, together with any long-term interests that form part thereof, is reduced to zero, and the recognition of further losses is discontinued except to the extent that the Group has an obligation to fund the investee’s operations or has made payments on behalf of the investee. vii) Transactions eliminated on consolidation Intra-group balances and transactions, and any unrealized income or expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity-accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. 4.2. Foreign currency i) Foreign currency transactions Transactions in foreign currencies are translated to the respective functional currencies of Group entities at the exchange rates at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated to the functional currency at the exchange rate at the reporting date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Foreign currency differences are recognized in profit or loss and presented within finance costs. Foreign currency differences arising from the translation of investment in equity securities designated as fair value to other comprehensive income (“FVOCI”) are recognized in OCI. ii) Foreign operations The assets and liabilities of foreign operations are translated to United States dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated to United States dollars at average exchange rates. Foreign currency differences are recognized in OCI and presented in the foreign currency translation reserve in equity except to the extent that the translation difference is allocated to NCI. When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant proportion of the cumulative amount is reattributed to NCI. When the Group disposes of only part of its investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely to occur in the foreseeable future, foreign exchange gains and losses arising from such a monetary item that are considered to form part of a net investment in a foreign operation are recognized in OCI and are presented in the translation reserve in equity. 4.3. Financial instruments i) Recognition and initial measurement Trade receivables and debt investments issued are initially recognized when they are originated. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. ii) Classification and subsequent measurement a) Financial assets On initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investment; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting year following the change in the business model. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is to hold assets to collect contractual cash flows; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held-for-trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment‑by‑investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial assets – Business model assessment The Group makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: • the stated policies and objectives for the portfolio and the operation of those policies in practice. These include whether management’s strategy focuses on earning contractual interest income, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of any related liabilities or expected cash outflows or realizing cash flows through the sale of the assets; • how the performance of the portfolio is evaluated and reported to the Group’s management; • the risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; • how managers of the business are compensated – e.g. whether compensation is based on the fair value of the assets managed or the contractual cash flows collected; and • the frequency, volume and timing of sales of financial assets in prior years, the reasons for such sales and expectations about future sales activity. Transfer of financial assets to third parties in transactions that do not qualify for derecognition are not considered sales for this purpose, consistent with the Group’s continuing recognition of the assets. Financial assets that are held-for-trading or are managed and whose performance is evaluated on a fair value basis are measured at FVTPL. Financial assets – Assessment whether contractual cash flows are solely payments of principal and interest For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as a profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers: • contingent events that would change the amount or timing of cash flows; • terms that may adjust the contractual coupon rate, including variable‑rate features; • prepayment and extension features; and • terms that limit the Group’s claim to cash flows from specified assets (e.g. non‑recourse features). A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a discount or premium to its contractual par amount, a feature that permits or requires prepayment at an amount that substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable additional compensation for early termination) is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition. Financial assets – Subsequent measurement and gains and losses Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. b) Financial liabilities – Classification, subsequent measurement and gains and losses Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL, which include warrant liabilities, are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Directly attributable transaction costs are recognized in profit or loss as incurred. Other financial liabilities are initially measured at fair value less directly attributable transaction costs. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. These financial liabilities comprised loans and borrowings, bank overdrafts, and trade and other payables. iii) Derecognition a) Financial assets The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Where the Group enters into transactions whereby it transfers assets recognized in its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognized. b) Financial liabilities The Group derecognizes a financial liability when its contractual obligations are discharged or canceled or expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. iv) Offsetting Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. v) Cash and cash equivalents Cash and cash equivalents comprise cash balances and short-term deposits with maturities of three months or less from the date of acquisition that are subject to an insignificant risk of changes in their fair value and are used by the Group in the management of its short-term commitments. For the purpose of the statement of cash flows, bank overdrafts that are repayable on demand and that form an integral part of the Group’s cash management are included in cash and cash equivalents. vi) Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity, net of any tax effects. vii) Warrants Share purchase warrants issued by the Group are accounted for as derivative liabilities. The warrants are initially recognized at fair value, and in subsequent periods measured at fair value through profit or loss with any changes in fair value recognized in profit or loss until the warrants are exercised, redeemed, or expire. viii) Compound financial instruments Compound financial instruments previously included convertible redeemable preference shares denominated in United States dollars that could be converted to share capital at the option of the holder, where the number of shares to be issued was fixed and did not vary with changes in fair value. The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognized at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest method. The equity component of a compound financial instrument is not remeasured. Interest related to the liability component is recognized in profit or loss and presented within finance costs. On conversion, the liability component is reclassified to equity and no gain or loss is recognized. 4.4 Impairment i) Non-derivative financial assets The Group recognizes loss allowances for expected credit loss on financial assets measured at amortized cost. Loss allowances are measured on either of the following bases: • 12-month ECLs: these are ECLs that result from default events that are possible within the 12 months after the reporting date (or for a shorter period if the expected life of the instrument is less than 12 months); or • Lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument or contract asset. Simplified approach The Group applies the simplified approach to provide for ECLs for all trade receivables. The simplified approach requires the loss allowance to be measured at an amount equal to lifetime ECLs. General approach The Group applies the general approach to provide for ECLs on all other financial instruments. Under the general approach, the loss allowance is measured at an amount equal to 12-month ECLs at initial recognition. At each reporting date, the Group assesses whether the credit risk of a financial instrument has increased significantly since initial recognition. When credit risk has increased significantly since initial recognition, loss allowance is measured at an amount equal to lifetime ECLs. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and includes forward-looking information. If credit risk has not increased significantly since initial recognition or if the credit quality of the financial instruments improves such that there is no longer a significant increase in credit risk since initial recognition, loss allowance is measured at an amount equal to 12-month ECLs. The Group considers a financial asset to be in default when: • the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held); or • the financial asset is more than 90 days past due (more than 120 days past due for trade receivables). Measurement of ECLs ECLs are probability-weighted estimates of credit losses. Credit losses are measured at the present value of all cash shortfalls (i.e., the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset. Credit-impaired financial assets At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt investments at FVOCI are ‘credit-impaired’. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: • significant financial difficulty of the borrower or issuer; • a breach of contract such as a default or being more than 90 days past due (more than 120 days past due for trade receivables); • the restructuring of a loan or advance by the Group on terms that the Group would not consider otherwise; • it is probable that the borrower will enter bankruptcy or another financial reorganization; or • the disappearance of an active market for a security because of financial difficulties. Presentation of allowance for ECLs in the statement of financial position Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. Write-off The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due. ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, are tested annually for impairment and the recoverable amount is estimated each year. An impairment loss is recognized if the carrying amount of an asset or its related cash-generating unit (“CGU”) exceeds its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, for the purposes of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGUs that are expected to benefit from the synergies of the combination. The Group’s corporate assets do not generate separate cash inflows and are utilized by more than one CGU. Corporate assets are allocated to CGUs on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior years are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. Goodwill that forms part of the carrying amount of an investment in an associate is not recognized separately, and therefore is not tested for impairment separately. Instead, the entire amount of the investment in an associate is tested for impairment as a single asset when there is objective evidence that the investment in an associate may be impaired. 4.5 Property, plant and equipment i) Recognition and measurement Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of self-constructed assets includes: • any other costs directly attributable to bringing the assets to a working condition for their intended use; and • when the Group has an obligation to remove the as |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Property, plant and equipment | 5 Property, plant and equipment i) Reconciliation of carrying amount Note Computers Buildings Motor Office Total (in $ millions) $ $ $ $ $ Cost At January 1, 2021 50 129 486 36 701 Additions 16 136 41 6 199 Write-offs/disposal ( 3 ) ( 39 ) ( 48 ) ( 2 ) ( 92 ) Effects of movements in exchange rates ( 1 ) 2 ( 9 ) ( 1 ) ( 9 ) At December 31, 2021 62 228 470 39 799 Additions 22 50 65 11 148 Acquisition through business combination 26 1 54 1 11 67 Write-offs/disposal ( 1 ) ( 33 ) ( 26 ) — ( 60 ) Effects of movements in exchange rates ( 3 ) ( 8 ) ( 6 ) ( 3 ) ( 20 ) At December 31, 2022 81 291 504 58 934 Note Computers Buildings Motor Office Total (in $ millions) $ $ $ $ $ Accumulated depreciation and impairment losses At January 1, 2021 35 72 192 18 317 Depreciation for the year 16 34 53 6 109 Write-offs/disposal ( 3 ) ( 39 ) ( 24 ) ( 2 ) ( 68 ) Impairment loss — 1 6 — 7 Effects of movements in exchange rates ( 1 ) ( 1 ) ( 4 ) ( 1 ) ( 7 ) At December 31, 2021 47 67 223 21 358 Depreciation for the year 13 48 58 10 129 Write-offs/disposal ( 1 ) ( 23 ) ( 14 ) — ( 38 ) Impairment (reversal) loss of PPE — 6 ( 3 ) — 3 Effects of movements in exchange rates ( 2 ) ( 4 ) ( 2 ) ( 2 ) ( 10 ) At December 31, 2022 57 94 262 29 442 Carrying amounts At January 1, 2021 15 57 294 18 384 At December 31, 2021 15 161 247 18 441 At December 31, 2022 24 197 242 29 492 Property, plant and equipment includes right-of-use assets of $ 171 million (2021: $ 118 million) relating to leased properties and motor vehicles (see Note 23). During the financial year, the Group acquired motor vehicles with an aggregate cost of $ 65 million (2021: $ 41 million) for cash payments of $ 11 million (2021: $ 21 million), secured bank loan financing of $ 18 million (2021: $ 20 million) and lease liabilities of $ 36 million (2021: nil ). ii) Depreciation of property, plant and equipment Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives, after taking into account the estimated residual value. Management reviews the estimated useful lives and residual value of the assets annually in order to determine the amount of depreciation expense to be recorded during any reporting year. The depreciation expense recorded for the year is $ 129 million (2021: $ 109 million; 2020: $ 126 million). The reviews performed in 2022 and 2021 did not result in any changes in estimated useful life or residual value. iii) Impairment loss/reversal on property, plant and equipment In relation to motor vehicles held for leasing, following a recovery in rental rates and utilization rates in certain markets during 2022, the Group reversed $ 3 million of impairment loss recognized in prior years (2021: impairment loss of $ 6 million; 2020: impairment loss of $ 15 million), which is presented in ‘Cost of revenue’. The recoverable amount of motor vehicles was based on its value in use, determined by discounting post-tax future cash flows to be generated from the continuing use of the motor vehicles leasing business over the reduced useful life. Key assumptions used in the estimate of value in use were as follows: 2022 2021 2020 % % % Discount rate 15 6.6 to 12 6.9 to 12 Budgeted rental rate growth 6.7 0 to 1.8 0 to 4 Utilization rates 82 46 to 94 45 to 95 The discount rate applied was a post-tax measure based on weighted average cost of capital. The pre-tax discount rate was 18.64 % (2021: 12.2 % to 18.8 %; 2020: 11.7 % to 25.1 %). The budgeted rental rates growth was estimated based on historic trends adjusted for estimated future growth rates of the motor vehicles leasing business. Utilization rates were estimated based on historic trends and adjusted for estimated future utilization rates. |
Intangible assets and goodwill
Intangible assets and goodwill | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Intangible assets and goodwill | 6 Intangible assets and goodwill i) Reconciliation of carrying amount Note Goodwill Trademark Non-compete agreement Other intangible assets Total (in $ millions) $ $ $ $ $ Cost At January 1, 2021 712 — 1,644 101 2,457 Additions — — — 3 3 Internally developed — — — 9 9 Disposals/Write-off — — — ( 1 ) ( 1 ) Effects of movements in exchange rates — — — ( 5 ) ( 5 ) At December 31, 2021 712 — 1,644 107 2,463 Additions — — — 5 5 Internally developed — — — 15 15 Acquisition through business combination 26 163 69 — 1 233 Effects of movements in exchange rates — — — ( 1 ) ( 1 ) At December 31, 2022 875 69 1,644 127 2,715 Note Goodwill Trademark Non-compete agreement Other intangible assets Total (in $ millions) $ $ $ $ $ Accumulated amortization and impairment losses At January 1, 2021 56 — 1,430 58 1,544 Amortization for the year — — 214 22 236 Disposal/Derecognition — — — ( 1 ) ( 1 ) Impairment loss 8 — — — 8 Effects of movements in exchange rates 1 — — * 1 At December 31, 2021 65 — 1,644 79 1,788 Amortization for the year — 5 — 16 21 Impairment loss 3 — — — 3 Effects of movements in exchange rates — — — ( 1 ) ( 1 ) At December 31, 2022 68 5 1,644 94 1,811 Carrying amounts At January 1, 2021 656 — 214 43 913 At December 31, 2021 647 — — 28 675 At December 31, 2022 807 64 — 33 904 * Amount less than $1 million ii) Development costs Included in the Other intangible assets is an amount of $ 15 million (2021: $ 9 million) that represents software development costs capitalized which primarily comprise staff costs. iii) Amortization The amortization of intangible assets is primarily included in ‘Cost of revenue’ (see Note 19(iii)). 2022 2021 2020 (in $ millions) $ $ $ Amortization of intangible assets 21 236 261 iv) Impairment testing for CGUs containing goodwill For the purposes of impairment testing, goodwill has been allocated (net of impairment loss recognized) to the Group’s CGUs as follows: Note 2022 2021 (in $ millions) reference $ $ Goodwill allocated Southeast Asia Ride Hailing CGUs 6(iv)(a) 606 606 Malaysia Mart CGU 6(iv)(b) 163 — Indonesia Payment CGU 6(iv)(c) 34 34 Multiple units without significant goodwill 4 7 Impairment losses on goodwill are included in ‘Other expenses’ (see Note 19(ii)). 2022 2021 2020 (in $ millions) $ $ $ Impairment loss on goodwill 3 8 28 a) Southeast Asia ride hailing cash generating units (“Southeast Asia Ride Hailing CGUs”) For the purpose of impairment testing, goodwill of $ 606 million has been allocated to the Group’s ride hailing business operations across countries in Southeast Asia, each of which is considered a CGU (“Ride Hailing CGU”). The goodwill has been allocated in proportion to the non-compete benefits attributable to each Ride Hailing CGU. These benefits are represented by the fair value of the non-compete agreement on initial recognition attributable to each Ride Hailing CGU, which was based on a valuation technique that reflected the present value of differential cash flows between “with” and “without” non-compete agreement scenarios. For the financial years ended 31 December 2022 and 2021, the estimated recoverable amount of each Ride Hailing CGU has exceeded its carrying amount and therefore no impairment loss has been recognized. The recoverable amount of the Ride Hailing CGUs was based on fair value less cost of disposal. To arrive at the fair value less cost of disposal, the Group applied a revenue based multiple of 1.35 from comparable companies to the amount of revenue plus consumer incentives of each Ride Hailing CGUs (2021: revenue based multiple of 5.35 derived from comparable companies to the amount of revenue plus consumer incentives of each Ride Hailing CGUs). The fair value measurement is categorized as a level 3 fair value (2021: level 3 fair value) based on the inputs in the valuation technique used (see Note 3.4). It has been identified that only changes beyond reasonably possible levels of revenue based multiple could cause the carrying amount to exceed the recoverable amount. b) Malaysia delivery and offering of daily necessities cash generating unit (“Malaysia Mart CGU”) For the purpose of impairment testing, goodwill of $ 163 million has been allocated to the Group’s Malaysia Mart CGU. no impairment loss was recognized. The recoverable amount of the Malaysia Mart CGUs was based on fair value less cost of disposal, which was determined based on the consideration paid in 2022 to acquire the operator of stores offering daily necessities in Malaysia (see Note 26). c) Indonesia mobile payments and rewards cash generating unit (“Indonesia Payment CGU”) For the purpose of impairment testing, goodwill of $ 34 million has been allocated to the Group’s Indonesia Payment CGU. For the financial years ended 31 December 2022 and 2021, the estimated recoverable amount of the Indonesia Payment CGU exceeded its carrying amount and therefore no impairment loss was recognized. The recoverable amount of the Indonesia Payment CGU was based on fair value less cost of disposal. To arrive at the fair value less cost of disposal, the Group applied a revenue based multiple of 4.40 derived from comparable companies to the revenue of its Indonesia Payment CGUs (2021: revenue based multiple of 8.50 derived from comparable companies to the revenue of its Indonesia Payment CGUs ). The fair value measurement is categorized as a level 3 fair value (2021: level 3 fair value) based on the inputs in the valuation technique used (see Note 3.4). It has been identified that only changes beyond reasonably possible levels of revenue based multiple could cause the carrying amount to exceed the recoverable amount. |
Other investments
Other investments | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Other investments | 7 Other investments 2022 2021 (in $ millions) $ $ Non-current investments Time deposits 774 2 Debt investments – at FVTPL 608 621 Debt investments – at FVOCI 26 — Equity investments – at FVTPL 334 618 1,742 1,241 Current investments Time deposits 2,970 3,176 Debt investments – at FVTPL 164 64 3,134 3,240 4,876 4,481 i) Time deposits These financial assets measured at amortized cost predominantly comprise deposits with banks and financial institutions with a maturity of more than three months from the date of placement. ii) Financial risk management The exposure of other investments to relevant financial risks (credit, currency and interest rate risk) is disclosed in Note 24. |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Trade and other receivables | 8. Trade and other receivables 2022 2021 (in $ millions) $ $ Current Trade receivables 120 117 Less: Loss allowance (see Note 24) ( 20 ) ( 22 ) 100 95 Loans and advances 207 118 Less: Loss allowance (see Note 24) ( 22 ) ( 11 ) 185 107 Payment cycle receivables 108 71 Less: Loss allowance ( 21 ) ( 18 ) 87 53 372 255 i) Trade receivables Trade receivables mainly comprise amounts due from driver-partners and merchant-partners under the Deliveries and Mobility segments respectively. They are generally due for settlement within 30 days and therefore are all classified as current. ii) Loans and advances These financial assets are term loans provided to driver-partners, merchant-partners and consumers. They are generally due for settlement within 12 months and therefore are all classified as current. iii) Payment cycle receivables Amounts receivable as part of a payment settlement cycle that may involve consumers, merchant-partners and driver-partners to be settled typically within 4 days. iv) Financial risk management The exposure of trade and other receivables to relevant financial risks (credit, currency and interest rate risk) is disclosed in Note 24. |
Prepayments and other assets
Prepayments and other assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Prepayments And Other Assets [Abstract] | |
Prepayments and other assets | 9 Prepayments and other assets 2022 2021 (in $ millions) $ $ Non-current Deposits 130 127 Loan receivable as part of co-investing arrangement 87 — 217 127 Current Prepayments 70 81 Tax recoverable 46 48 Deposits 54 48 Others 24 23 Less: Loss allowance ( 12 ) ( 15 ) 182 185 Tax recoverable These amounts comprise Value-added tax (“VAT”) and withholding tax recoverable which are the amounts paid to the respective tax authorities which will be recovered either against future tax liabilities of the same tax authorities or refunded. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Cash and cash equivalents | 10 Cash and cash equivalents 2022 2021 (in $ millions) $ $ Short-term deposits 504 594 Cash at banks and on hand 1,448 4,397 Cash and cash equivalents in the statement of financial position 1,952 4,991 i) Classification as cash equivalents Term deposits are presented as cash equivalents if they have a maturity of three months or less from the date of acquisition. ii) Restricted cash C ash and cash equivalents include balances of $ 174 million (2021: $ 153 million) held by subsidiaries that operate in countries where legal restrictions apply when the balances are not available for general use by the parent or other subsidiaries. |
Capital and reserves
Capital and reserves | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Capital and reserves | 11 Capital and reserves i) Share capital and share premium a) Movements in GHL Class A ordinary shares and Class B ordinary shares (collectively “GHL Ordinary Shares”): (in thousands of shares) Note Class A ordinary shares Class B ordinary shares Grab Holdings Limited 2022 2021 2022 2021 In issue at January 1 – in issue 3,619,098 — 122,882 — Issuance of GHL shares as part of Reverse Recapitalization 11(i)(b) Merger with AGC — 62,491 — — Exchange of GHI ordinary shares and CRPS — 3,152,143 — 122,882 Issued for cash to external investors — 404,009 — — Issued for acquisition of non-controlling interests 77,170 — — — Issued in relation to business combination 8,194 — — — Restricted share units vested 24,227 276 112 — Exercise of share options 2,819 179 7,356 — Conversion of Class B ordinary shares to Class A ordinary shares 4,570 — ( 4,570 ) — In issue at December 31 3,736,078 3,619,098 125,780 122,882 Restricted ordinary shares issued but not fully vested — — ( 21,635 ) ( 32,452 ) In issue at December 31 – fully paid 3,736,078 3,619,098 104,145 90,430 GHL Class A ordinary shares GHL Class A ordinary shares have a par value of $ 0.000001 and are ranked equally with regard to GHL’s residual assets. Amounts received above the par value are recorded as share premium. Each holder of GHL Class A ordinary shares will be entitled to one vote per share. Class A ordinary shares are listed on NASDAQ under the trading symbol “GRAB”. GHL Class B ordinary shares GHL Class B ordinary shares have a par value of $ 0.000001 and are ranked equally with GHL Class A ordinary shares with regard to GHL’s residual assets. Each holder of GHL Class B ordinary shares is entitled to forty-five (45) votes per share for a vote of all GHL Ordinary Shares voting together as a single class. In addition, holders of a majority of the GHL Class B ordinary shares will have the right to nominate, appoint and remove a majority of the members of GHL’s board of directors. Each GHL Class B ordinary share is convertible into one GHL Class A ordinary share (as adjusted for share split, share combination and similar transactions occurring). b) Reverse Recapitalization The Reverse Recapitalization (defined in Note 1) was accounted for with AGC being identified as the “acquired” entity for financial reporting purposes. Accordingly, the Reverse Recapitalization was accounted for as the equivalent of GHI issuing shares for the net assets of AGC, accompanied by a recapitalization by third party investors. Therefore, these consolidated financial statements have been presented as a continuation of the GHI Group with: - the assets and liabilities of GHI recognized and measured in the GHL consolidated financial statements at their carrying amounts immediately prior to the Reverse Recapitalization; - the retained earnings and other equity balances of GHI recognized in the GHL consolidated financial statements at amounts immediately prior to the Reverse Recapitalization; - the comparative information presented in the GHL consolidated financial statements, prior to consummation of the Reverse Recapitalization, are that of GHI Group. Merger with AGC The acquisition of the net assets of AGC on December 1, 2021 did not meet the definition of a business under IFRS and was therefore accounted for as a share-based payment, with the former AGC shareholders receiving one GHL Class A ordinary share for each issued and outstanding ordinary share in AGC. The excess of fair value of GHL shares issued over the fair value of AGC’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred, the summary of which is as follows: (in $ millions) 2021 Fair value of net assets of AGC 398 Less: Fair value of consideration comprising: 62.5 million GHL Class A ordinary shares ( 688 ) Share listing expenses recognized in profit or loss ( 290 ) Professional services expenditure of $ 63 million incurred to facilitate listing on NASDAQ which, in addition to the $ 290 million described in the table above, resulted in a total of $ 353 million share listing and associated expenses being recognized in the profit or loss. The Reverse Recapitalization also involved the former AGC warrant holders receiving one warrant to purchase a Class A ordinary share in GHL, for each warrant to acquire ordinary shares in AGC, which resulted in the issuance of 22 million warrants (see Note 15); Exchange of GHI ordinary shares and CRPS The Reverse Recapitalization resulted in GHI becoming a wholly owned subsidiary of GHL on December 1, 2021, effectuated by the holders of GHI ordinary shares and GHI convertible redeemable preference shares (“CRPS”) (collectively “GHI Shares”) exchanging each of their shares for 1.3032888 GHL Class A or Class B ordinary shares (collectively “GHL Ordinary Shares”) which is reflected in the table below: Movements in GHI ordinary shares and GHI convertible redeemable preference shares (collectively “GHI Shares”) (in thousands of shares) Note Ordinary shares* CRPS* Grab Holdings Inc. 2021 2020 2021 2020 In issue on January 1 198,538 161,371 2,871,351 2,576,688 Issued for acquisition of NCI/ in business combination 964 19,332 — 652 Issued for cash — — 98,065 294,011 Restricted share units vested 17 11,810 10,166 — — Exercise of share options 17 61,845 7,669 — — Restricted ordinary shares 17 32,452 — — — Exchange for GHL Class A and Class B ordinary shares as part of Reverse Recapitalization 11(i)(a) ( 305,609 ) — ( 2,969,416 ) — In issue at December 31 – fully paid — 198,538 — 2,871,351 * the number of shares reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share GHI ordinary shares GHI ordinary shares had a par value of $ 0.000001 and ranked equally with regard to the GHI’s residual assets. Amounts received above the par value were recorded as share premium. Holders of these shares were entitled to receive dividends as declared from time to time and were entitled to one vote per share at general meetings of GHI. GHI convertible redeemable preference shares (“CRPS”) GHI CRPS had a par value of $ 0.000001 and holders, with regard to GHI’s residual assets, could participate only to the extent of the issue price of the shares. Holders of the CRPS would receive a non-cumulative dividend of 8 % per annum on the issue price at the discretion of GHI, or whenever dividends to GHI ordinary shareholders were declared. GHI CRPS did not have the right to participate in any additional dividends declared for ordinary shareholders and each share carried one vote at general meetings of GHI. Each CRPS could have been redeemed, at the option of the CRPS shareholders at any time after June 29, 2023 at the redemption price equivalent to the issue price of the CRPS together with compound interest of 6 % per annum thereon. Prior to an initial public offering, each GHI CRPS could have been convertible into fully paid new GHI ordinary shares. Management had determined that the conversion option was to be classified as equity. In the event of an initial public offering, the GHI CRPS was to be mandatorily converted into fully paid new ordinary shares at the then applicable conversion ratio as was effectuated by the Reverse Recapitalization (as reflected in the table above). The conversion of CRPS shares into GHL ordinary shares resulted in the reclassification of the equity and liability components into equity under share premium. Issued for cash to external investors The Reverse Recapitalization also involved additional capitalization by way of the issuance of GHL shares and warrants to third party investors on December 1, 2021, pursuant to investment commitments in previously agreed subscription agreements in which the investors committed to subscribe for and purchase 404 million GHL Class A Ordinary Shares and 4 million GHL warrants (see Note 15) for an aggregate purchase price of $ 4,040 million. ii) Nature and purpose of reserves The reserves of the Group comprise the following balances: 2022 2021 (in $ millions) $ $ Share-based payment reserve 516 382 Foreign currency translation reserve ( 67 ) ( 19 ) Other reserve 153 243 602 606 a) Share-based payment reserve The share-based payment reserve comprises the cumulative value of employee services received for equity-settled share-based payment arrangements b) Foreign currency translation reserve The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations. c) Other reserve This reserve represents conversion options and put options issued to non-controlling interests in subsidiaries. iii) Dividends The Group did no t declare any dividends for the years ended December 31, 2022, 2021 and 2020. |
Subsidiaries and Non-controllin
Subsidiaries and Non-controlling Interests | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Subsidiaries and Non-controlling Interests | 12 Subsidiaries and non-controlling interests Details of the significant subsidiaries within the Group are as follows: Name of subsidiaries Country of incorporation/ operation Ownership interests 2022 2021 % % Grab Holdings Inc. Cayman 100 100 Grab Inc. Cayman 100 100 A2G Holdings Inc. Cayman 100 100 Non-controlling interest During 2022, the Group acquired additional holdings in subsidiaries offering financial services, increasing ownership interest to 100 % in those entities. (in $ millions) $ Carrying amount of non-controlling interests acquired 256 GHL Class A ordinary shares issued as consideration for acquisition of non-controlling interests ( 417 ) Decrease in equity attributable to owners of the Company recognized in accumulated losses ( 161 ) There is no subsidiary that has material non-controlling interests to the Group, before intercompany eliminations, for the year ended 31 December 2022. |
Loans and Borrowings
Loans and Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Loans and Borrowings | 13 Loans and borrowings (in $ millions) 2022 2021 $ $ Non-current Bank loans 55 55 Term loan 1,041 1,875 Lease liabilities 152 101 1,248 2,031 Current Bank loans 63 83 Term loan 20 39 Lease liabilities 34 22 117 144 A significant portion of the bank loans are secured by the Group’s motor vehicles with a carrying amount of $ 242 million (2021: $ 247 million) (see Note 5). The Group's term loan financing is secured against assets of the Company and certain subsidiaries. The term loan facility matures in January 2026 and requires quarterly principal payments of 0.25 % of the original principal amount per quarter, with any remaining balance payable in January 2026. The term loan interest coupon is based on a choice of a variable benchmark rate subject to a floor (see Note 13(i) for the interest rate set based on contractual terms). During 2022, the Group has paid $ 858 million towards repayment and repurchase of the term loan financing. The Group has borrowings denominated in Singapore Dollars (“SGD”), Malaysian Ringgit (“MYR”), Indonesian Rupiah (“IDR”) and Thailand Baht (“THB”). i) Terms and debt repayment schedule Terms and conditions of outstanding loans and borrowings (including lease liabilities) are as follows: Currency Nominal Year of Carrying $ 2022 Bank loans SGD 1.5 % to 2.1 % 2023 - 2027 59 Bank loans SGD COF * + 1.0 % to 1.1 % 2023 - 2024 5 Bank loans MYR 2.1 % to 4.5 % 2023 - 2027 4 Bank loans MYR COF * - 2.0 % to 1.7 % 2023 - 2027 15 Bank loans IDR 9.9 % to 10.3 % 2023 - 2025 3 Bank loans IDR COF * + 1.8 % to 2.0 % 2023 - 2025 7 Bank loans THB COF * + 7.0 % p.a. 2023 25 Term loan USD LIBOR + 4.5 % 2026 1,061 Lease liabilities Multiple 3.5 % to 10.0 % 2023 - 2037 186 1,365 2021 Bank loans SGD 1.5 % to 2.2 % 2022 - 2026 77 Bank loans SGD COF * + 1 % to 1.1 % 2022 - 2024 11 Bank loans MYR 3.10 % 2022 - 2024 8 Bank loans IDR 2.5 % to 11.5 % 2022 - 2025 15 Bank loans IDR COF * + 1.8 % to 2.0 % 2022 - 2025 12 Bank loans THB COF * + 7.0 % 2022 15 Term loan USD 5.5 % (based on 2026 1,914 Lease liabilities Multiple 1.9 % to 11.0 % 2022 - 2037 123 2,175 *cost of funds – which are variable rates specific to country and/or financial institutions Financial risk management Information about the exposure of loans and borrowings to relevant financial risks (interest rate, foreign currency and liquidity risk) is disclosed in Note 24. ii) Reconciliation of movements of liabilities to cash flows arising from financing activities Liabilities Bank loans Term loan Lease Total (in $ millions) $ $ $ $ Balance at January 1, 2022 138 1,914 123 2,175 Changes from financing cash flows Proceeds from bank loans 109 — — 109 Payment of bank loans ( 161 ) ( 858 ) — ( 1,019 ) Payment of lease liabilities — — ( 35 ) ( 35 ) Interest paid ( 8 ) ( 140 ) ( 12 ) ( 160 ) Total changes from financing cash flows ( 60 ) ( 998 ) ( 47 ) ( 1,105 ) Effect of changes in foreign exchange rates ( 3 ) — 1 ( 2 ) Other changes Liability-related Recognition of lease liabilities — — 72 72 Derecognition of lease liabilities — — ( 13 ) ( 13 ) Secured bank loans for asset acquisition 18 — — 18 Interest expense 7 145 13 165 Acquisition through business combination 18 — 37 55 Total liability-related other changes 43 145 109 297 Balance at December 31, 2022 118 1,061 186 1,365 Liabilities Convertible Bank Term Lease Equity Total (in $ millions) $ $ $ $ $ $ Balance at January 1, 2021 10,767 212 — 39 3,850 14,868 Changes from financing cash flows Proceeds from issuance of CRPS 436 — — — 27 463 Proceeds from bank loans — 60 1,920 — — 1,980 Payment of bank loans — ( 151 ) ( 25 ) — — ( 176 ) Payment of lease liabilities — — — ( 24 ) — ( 24 ) Interest paid — ( 23 ) ( 83 ) ( 2 ) — ( 108 ) Total changes from financing cash flows 436 ( 114 ) 1,812 ( 26 ) 27 2,135 Effect of changes in foreign exchange rates — ( 3 ) ( 1 ) ( 1 ) — ( 5 ) Other changes Liability-related Recognition of lease liabilities — — — 106 — 106 Derecognition of lease liabilities — — — * — * Secured bank loans for asset acquisition — 20 — — — 20 Interest expense 1,570 23 103 5 — 1,701 CRPS converted to GHL ordinary shares ( 12,773 ) — — — ( 3,877 ) ( 16,650 ) Total liability-related other changes ( 11,203 ) 43 103 111 ( 3,877 ) ( 14,823 ) Balance at December 31, 2021 — 138 1,914 123 — 2,175 * Amounts less than $1 million |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Provisions | 14 Provisions 2022 2021 (in $ millions) $ $ Site restoration 24 21 Legal 32 32 56 53 2022 2021 (in $ millions) $ $ Non-current 18 18 Current 38 35 56 53 i) Site restoration 2022 2021 (in $ millions) $ $ Balance at January 1 21 6 Provisions made during the year 2 18 Provisions reversed during the year ( 1 ) ( 3 ) Effect of movements in exchange rates 2 — Balance at December 31 24 21 The provisions relate to the cost of dismantling and removing assets and restoring the premises to its original condition as stipulated in the lease agreements. ii) Legal 2022 2021 (in $ millions) $ $ Balance at January 1 32 32 Provisions made during the year * 1 Provisions reversed during the year * — Effect of movements in exchange rates * ( 1 ) Balance at December 31 32 32 * Amounts less than $1 million The balance primarily includes a provision in relation to a legal claim filed by the competition authority in Malaysia in consideration of the Group’s position of market strength in the Mobility segment. The outcome of this legal claim is not expected to give rise to any significant loss beyond the amount of provision as at December 31, 2022. |
Trade payables and other liabil
Trade payables and other liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Trade and other payables | 15 Trade payables and other liabilities 2022 2021 (in $ millions) $ $ Non-current liabilities Warrant liabilities 14 54 Put options issued to non-controlling interests 93 — Other payables 12 12 Employee defined benefit liability 13 15 132 81 Current liabilities Trade payables 189 167 Accrued operating expenses 370 345 Electronic wallets 263 242 Tax payables 37 29 Deposits 25 20 Contract liabilities 9 9 Others 40 32 933 844 i) Warrant liabilities The Reverse Recapitalization (see Notes 1 and 11) i ncluded the issuance of 26 million warrants that entitles the holder to purchase one GHL Class A ordinary share at an exercise price of $ 11.50 per whole share. These warrants are exercisable as at 31 December 2022 and will expire on 1 December 2026. The warrants are listed on NASDAQ under the trading symbol “GRABW”. Of these 26 million warrants, 12 million warrants can be exercised on a cashless basis by the holder into a variable number of shares based on volume weighted average observable price of the GHL Class A ordinary shares at the time of exercise. All the remaining warrants cannot be exercised cashless, and can be redeemed at GHL’s sole discretion at a price of $ 0.01 or $ 0.10 per warrant depending on the GHL Class A ordinary shares closing price over an observable trading period at the time of redemption. Following notice of such a redemption, holders of the warrants will have the right to exercise the warrants prior to redemption, including on a cashless basis in certain circumstances. The terms of all warrants include a provision that in the event of a tender or exchange offer made to and accepted by holders of more than 50% of the outstanding GHL Class A ordinary shares, the warrant holders would be entitled to receive cash for their warrants. Management considers that this feature results in the warrants being classified as liabilities measured at fair value through profit or loss, as the event is an uncertain future event that is not within the control of the Group; and therefore, the Group does not have an unconditional right to avoid delivering cash. The warrants have been measured at the trading price. The carrying value of the warrants as at 31 December is as follows: 2022 2021 (in $ millions) $ $ As at 1 January 54 — Issuance as part of Reverse Recapitalization — 91 Change in fair value ( 40 ) ( 37 ) As at 31 December 14 54 ii) Employee defined benefit Certain subsidiaries operate a non-contributory defined benefit pension scheme that provides retirement benefits for certain employees. iii) Tax payables These amounts comprise VAT and withholding tax payables. iv) Financial risk management Information about the exposure of trade and other payables to relevant financial risks (currency and liquidity risk) is disclosed in Note 24. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Income taxes | 16. Income taxes i) Amounts recognized in profit or loss 2022 2021 2020 (in $ millions) $ $ $ Current tax expense Current year 27 6 7 Changes in estimates related to prior years * * * 27 6 7 Deferred tax (credit)/expense Origination and reversal of temporary difference ( 9 ) ( 3 ) ( 5 ) Recognition of previously unrecognized tax losses ( 12 ) — — ( 21 ) ( 3 ) ( 5 ) Income tax expense 6 3 2 * Amount less than $1 million ii) The reconciliation between income tax expenses and the loss before income tax is presented as follows: 2022 2021 2020 (in $ millions) $ $ $ Loss before tax ( 1,734 ) ( 3,552 ) ( 2,743 ) Tax at the domestic rates applicable to profits in the countries where the Group operates ( 165 ) ( 238 ) ( 241 ) Non-deductible expenses 13 46 66 Current year losses for which no deferred tax asset is recognized 194 211 196 Benefits from previously unrecognized tax losses ( 36 ) ( 16 ) ( 19 ) Changes in estimates related to prior years * * * Income tax expense 6 3 2 * Amount less than $1 million iii) Movement in deferred tax balances 2022 2021 (in $ millions) $ $ Deferred tax assets Tax losses carried forward 12 — Deferred revenue and others 8 5 Deferred tax liabilities Property, plant and equipment, intangible assets and others 18 3 Movement in deferred tax liabilities Movement in deferred tax assets (in $ millions) $ $ Balance at January 1, 2021 ( 1 ) — Recognized in profit or loss ( 2 ) 5 Balance at December 31, 2021 ( 3 ) 5 Balance at January 1, 2022 ( 3 ) 5 Recognized in profit or loss 6 15 Acquisition through business combination ( 21 ) — Balance at December 31, 2022 ( 18 ) 20 iv) Unrecognized deferred tax assets Deferred tax assets have not been recognized in respect of the following items: 2022 2021 (in $ millions) $ $ Unutilized tax losses 6,767 6,324 Deferred tax assets are recognized in the consolidated financial statements only to the extent that it is probable that future taxable profits will be available against which the Group can utilize the benefits. The use of these tax losses is subject to the agreement of the tax authorities and compliance with certain provisions of the tax legislations of the respective countries in which the Group operates. v) Tax losses carried forward Out of the $ 6,767 million tax losses, $ 3,546 million expire as below. The remaining tax losses do not expire under the current tax legislation. Expire by $ (in $ millions) 2023 838 2024 1,440 2025 535 2026 432 2027 247 2028 6 2029 25 2030 6 2031 8 2032 9 Deferred tax assets in certain subsidiaries, have not been recognized in respect of the tax losses carried forward because it is not probable that future taxable profits will be available against which the Group entities can utilize benefits therefrom. |
Share-based Payment Arrangement
Share-based Payment Arrangements | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Share-based Payment Arrangements | 17. Share-based payment arrangements i) Description of the share-based payment arrangements As at December 31, 2022, the Company has in place an equity-settled share-based payment arrangement, the 2021 Equity Incentive Plan (the “2021 Plan”), under which Company may: 1. issue restricted share units/awards (‘RSUs’); or 2. grant options to purchase its ordinary shares (‘Share Options’); or 3. issued restricted ordinary shares to selected employees, officers, directors and consultants of the Group and non-employee directors of the Company. The RSUs and Share Options granted generally vest 25 % on each anniversary of the grant, over a four year -period. The maximum term of Share Options granted under the 2021 Plan does not exceed ten years from the date of grant. The RSUs and Share Options granted to employees do not have the rights of the ordinary shares until the RSUs and Share Options are vested, exercised and recorded into the register of shareholders of the Company. The 2021 Plan was established in 2021 on consummation of the Reverse Recapitalization as a replacement for equity-settled share-based payment arrangements - the 2015 Equity Incentive Plan (the ‘GHI 2015 Plan’), and the 2018 Equity Incentive Plan (the ‘GHI 2018 Plan’) which served as the successor to the 2015 Plan. All restricted share units/awards, options and restricted shares outstanding under the 2015 GHI Plan and 2018 GHI Plan at the time of consummation of the Reverse Recapitalization were replaced by Share Options, RSUs and restricted shares with respect to GHL Class A ordinary shares or, when applicable, GHL Class B ordinary shares under the 2021 GHL Plan, based on an exchange ratio of the right to receive 1.3032888 GHL ordinary share for each GHI ordinary share. During 2022, the Company has established the 2021 Equity Stock Purchase Plan ("ESPP") which allows eligible employees to contribute, through payroll deductions, up to 15% of their eligible compensation to purchase the Company’s Class A Ordinary Shares at a 15% discount of the lower of either (i) the closing trading price of the first day of an offering period or (ii) the closing trading price of the purchase date. a) Reconciliation of outstanding RSUs The number of unvested RSUs issued under the 2021 GHL Plan were as follows: Number of unvested 2021 GHL Plan ’000 Reverse Recapitalization replacement issuance under the 2021 GHL Plan (see table below for restricted share units granted under the GHI 2018 Plan and GHI 2015 Plan) 66,457 Vested ( 330 ) Canceled and forfeited ( 1,481 ) As of December 31, 2021 64,646 Granted 109,016 Vested ( 24,343 ) Canceled and forfeited ( 17,554 ) As of December 31, 2022 131,765 As at December 31, 2021, certain RSUs were vested but were not registered as ordinary shares. The number of unvested RSUs issued under the GHI 2018 Plan and GHI 2015 Plan and as replaced by the 2021 GHL Plan were as follows: Number of unvested GHI 2018 Plan and GHI 2015 Plan ’000 As of January 1, 2020 36,302 Granted 19,850 Vested ( 10,114 ) Canceled and forfeited ( 9,492 ) As of December 31, 2020 36,546 Granted 47,895 Vested ( 11,783 ) Canceled and forfeited ( 6,201 ) Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of the Reverse Recapitalization ( 66,457 ) As of December 31, 2021 — * The number of RSUs reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share. As at December 31, 2020 certain RSUs were vested but were not registered as ordinary shares. b) Reconciliation of outstanding Share Options The number and weighted-average exercise prices of Share Options granted under the 2021 GHL Plan since its establishment as a replacement of the GHI 2018 Plan and GHI 2015 Plan were as follows: Number of Share Weighted average Weighted-average ’000 $ (in years) Reverse Recapitalization replacement issuance under the 2021 GHL Plan 53,307 1.97 7.41 Exercised ( 188 ) 0.81 Canceled and forfeited ( 23 ) 1.73 As of December 31, 2021 53,096 1.98 7.81 Issued for acquisition of non-controlling interests 17,910 2.26 Exercised ( 12,846 ) 1.31 Canceled and forfeited ( 3,223 ) 2.15 As of December 31, 2022 54,937 2.22 7.22 Number of Share Weighted average Exercisable as at 31 December ’000 $ 2021 18,010 1.76 2022 32,021 2.10 The Share Options outstanding as at December 31, 2022 had an exercise price in the range of $ 0.28 to $ 4.03 (2021: $ 0.28 to $ 4.03 ). As at December 31, 2022 and December 31, 2021, certain share options exercised were not registered as ordinary shares. The number and weighted-average exercise prices of Share Options under the GHI 2018 Plan and GHI 2015 Plan and as replaced by the 2021 GHL Plan were as follows: Number of Share Weighted average Weighted-average ’000 $ (in years) As of January 1, 2020 115,212 1.06 8.21 Granted 11,736 1.85 Exercised ( 7,308 ) 0.59 Canceled and forfeited ( 5,397 ) 0.99 As of December 31, 2020 114,243 1.17 7.54 Granted 2,848 1.29 Exercised ( 62,220 ) 0.81 Canceled and forfeited ( 1,564 ) 1.04 Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of Reverse Recapitalization ( 53,307 ) 1.97 As of December 31, 2021 — — — * The number and exercise price of share options reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share. Number of Share Weighted average Exercisable as at 31 December ’000 $ 2020 57,634 0.80 The Share Options outstanding as at December 31, 2020 had an exercise price in the range of $ 0.28 to $ 6.07 . As at December 31, 2020, certain Share Options were exercised but have not been registered as ordinary shares. c) Restricted ordinary shares During 2021, GHI issued 24,900,000 restricted ordinary shares to certain employees where the vesting of these ordinary shares was dependent on the satisfaction of a combination of service and performance conditions. The performance conditions have been satisfied upon the listing of the Group on NASDAQ. The weighted average fair value of the GHI restricted ordinary shares granted was $ 10 based on the price per ordinary share which was the basis of the merger with the SPAC (see Note 1) as part of the Reverse Recapitalization (see Note 1). The Reverse Recapitalization has resulted in these restricted ordinary shares being converted to 32,452,000 GHL Class B ordinary shares based on the exchange ratio of 1.3032888 GHL ordinary shares for each GHI ordinary share. During 2022, there were no restricted ordinary shares granted, 10,817,000 restricted ordinary shares were vested during the year. d) 2021 Equity Stock Purchase Plan As of December 31, 2022, 2.9 million shares were purchased and issued in January 2023 at a price of US$ 2.02 per share. ii) Share-based payment expenses The following table summarizes total share-based payment expense by function for the years ended December 31, 2022 , December 31, 2021 and December 31, 2020: 2022 2021 2020 (in $ millions) $ $ $ Cost of revenue 60 42 10 Sales and marketing 14 11 2 Research and development 124 89 14 General and administrative 214 215 28 Total 412 357 54 iii) Measurement of fair values a) RSUs For 2022, the fair value of RSUs granted was determined based on the closing price of the shares on the grant date. The weighted average fair value of RSUs grante d during the year ended was $ 3.16 . For 2021, a majority of the RSUs granted (under the GHI 2018 Plan and GHI 2015 Plan) were measured at $ 10 which is the price per ordinary share that was the basis of the Reverse Recapitalization (see Note 11). The weighted average fair value of RSUs granted during 2021 was $ 9.88 . No GHL RSUs were granted after the date of consummation of Reverse Recapitalization. For 2020, the fair value of the RSUs granted (under the GHI 2018 Plan and GHI 2015 Plan) were measured using a hybrid method incorporating both the Probability-Weighted Expected Return Model (“PWERM”) and the Option Pricing Model (“OPM”). The weighted average fair value of RSUs granted during 2020 was $ 1.96 . b) Share Options The fair value of the Share Options has been measured using the Black-Scholes option-pricing model based on the value of ordinary shares. A summary of the measurement of the fair values and inputs at grant date is as follow: 2021 2020 Fair value at grant date (weighted average)* $ 8.95 $ 2.46 Share price at grant date (weighted average)* $ 9.97 $ 3.59 Exercise price at grant date (weighted average)* $ 1.29 $ 1.85 Expected volatility (weighted average) 61.57 % 56.46 % Expected terms (years) (weighted average) 6.2 6.0 Expected dividend (weighted average) 0 % 0 % Risk-free interest rate (weighted average) 1.24 % 0.40 % * the fair value and exercise price of share options and the fair value of the share price at grant date reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share. Expected volatility has been based on the weighted-average historical share price volatility of comparable publicly traded companies. The expected term has been estimated based on the simplified method. The risk-free interest rate has been based on the US government bond yield curve in effect at the time of grant. With the exception of GHL share options issued for acquisition of NCI, no other GHL Share Options were granted after the date of consummation of Reverse Recapitalization. c) 2021 Equity Stock Purchase Plan The fair value of the 2021 Equity Stock Purchase Plan has been measured using the Black-Scholes option-pricing model. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Revenue | 18. Revenue i) Revenue streams 2022 2021 2020 (in $ millions) $ $ $ Deliveries 663 148 5 Mobility 639 456 438 Financial services 71 27 ( 10 ) Enterprise and new initiatives 60 44 36 1,433 675 469 During 2022, deliveries arrangements were modified in one of the markets which resulted in deliveries revenue of $ 52 million from contractual agreements in which the Group is responsible for delivery services to consumers and is therefore the principal, with payments of $ 68 million to driver-partners or third party couriers to perform these delivery services on behalf of the Group recognized in 'Cost of revenue' . Mobility revenue includes rental income from motor vehicles of $ 126 million (2021: $ 103 million; 2020: $ 95 million), ref er to Note 23. ii) Geographic information 2022 2021 2020 (in $ millions) $ $ $ Singapore 302 283 246 Malaysia 509 108 91 Indonesia 275 79 ( 61 ) Philippines 125 81 51 Thailand 109 76 57 Rest of Southeast Asia 113 48 85 1,433 675 469 iii) Major customers Considering our service offerings to a wide range of customers across multiple geographic locations, no significant portion of our revenue recognized can be attributed to a particular customer or group of customers. |
Income and Expenses
Income and Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Income and Expenses | 19 Income and expenses i) Other income 2022 2021 2020 (in $ millions) $ $ $ Government grant income 7 8 18 Others 10 4 15 17 12 33 Government grant income was provided by the Singapore Government under the Job Support Scheme. ii) Other expenses 2022 2021 2020 (in $ millions) $ $ $ Impairment of goodwill (Note 6) 3 8 28 Others 14 3 12 17 11 40 iii) Expenses by nature Total cost of revenue, sales and marketing expenses, general and administrative expenses and research and development expenses include expenses of the following nature: 2022 2021 2020 (in $ millions) $ $ $ Staff costs 1,253 1,019 639 Operation costs 864 462 425 Depreciation and amortization 150 345 387 Marketing expenses 206 177 65 Professional fees 104 82 56 |
Net Finance Costs
Net Finance Costs | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Net Finance Costs | 20 Net finance costs 2022 2021 2020 (in $ millions) $ $ $ Financial assets measured at amortized cost - interest income (primarily time deposits and cash and cash equivalents) 107 26 42 Net foreign exchange gain — 2 11 Finance income 107 28 53 Financial liabilities measured at amortized cost – interest expense ( 165 ) ( 1,701 ) ( 1,433 ) Impairment loss and change in fair value on investment in associates — — ( 15 ) Net foreign exchange loss ( 1 ) — — Finance costs ( 166 ) ( 1,701 ) ( 1,448 ) Net change in fair value of financial assets and liabilities ( 294 ) 37 ( 42 ) Share listing and associated expenses (Note 11(i)(b)) — ( 353 ) — Net finance costs recognized in profit or loss ( 353 ) ( 1,989 ) ( 1,437 ) |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Loss Per Share | 21 Loss per share The following table sets forth the computation of basic and diluted loss per share attributable to ordinary shareholders for the years ended December 31, 2022, 2021 and 2020 which reflects the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share exchange ratio as part of the Reverse Recapitalization (in $ millions, except share amounts which are reflected in thousands, and per share amounts): 2022 2021 2020 $ $ $ Loss for the year ( 1,740 ) ( 3,555 ) ( 2,745 ) Less: Loss attributable to non-controlling interests ( 57 ) ( 106 ) ( 137 ) Loss for the year attributable to ordinary shareholders ( 1,683 ) ( 3,449 ) ( 2,608 ) Basic weighted-average ordinary shares outstanding 3,814,492 539,947 181,190 Basic loss per share attributable to ordinary shareholders ( 0.44 ) ( 6.39 ) ( 14.39 ) Diluted loss per share attributable to ordinary shareholders ( 0.44 ) ( 6.39 ) ( 14.39 ) As the Group incurred net losses for the years ended December 31, 2022, 2021 and 2020, basic loss per share was the same as diluted loss per share. The following potentially dilutive outstanding securities were excluded from the computation of diluted loss per ordinary share because their effects would have been antidilutive for the years ended December 31, 2022, 2021 and 2020 (in thousands) or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: 2022 2021 2020 Convertible redeemable preference shares — — 2,871,351 Warrants (Note 15) 26,000 26,000 — Restricted ordinary shares (Note 17) 21,635 32,452 — Share options (Note 17) 54,937 53,096 114,244 RSUs (Note 17) 131,765 64,752 36,546 Shares committed under ESPP (Note 17) 2,890 — — Options to swap the shares in GHL subsidiaries for GHL Class A Ordinary Shares 121,450 47,755 — Total 358,677 224,055 3,022,141 |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Related Parties | 22 Related parties i) Transactions with key management personnel Compensation to Directors and executive officers of the Group comprised the following: 2022 2021 2020 (in $ millions) $ $ $ Short-term employee benefits 7 4 2 Post-employment benefits * * * Share-based payment 160 172 24 * Amount less than $1 million The aggregate value of transactions and outstanding balances related to key management personnel and entities over which they have control or joint control is insignificant. The Group Chief Operating Officer, appointed with effect from January 4, 2022 and the Group Technology Officer, appointed with effect from October 1, 2022 are considered a part of key management personnel. ii) Other related party transactions The Group has entered into shareholders agreements that include capital contribution commitments. This primarily includes a commitment to c ontribute approximately $ 813 million to a subsidiary within the Group’s financial service segment offering digital banking services. The Group did not enter into other significant related party transactions. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Leases | 23 Leases i) As a lessee The Group leases office premises, retail stores and motor vehicles. These leases, which have fixed rental payments, typically run for a period of one to eleven years with an option to renew the lease after that term. The Group leases office equipment with contract terms of one to five years . These leases are short‑term and/or leases of low‑value items. The Group has elected not to recognize right‑of‑use assets and lease liabilities for these leases. a) Right-of-use assets Right‑of‑use assets related to leased properties that do not meet the definition of investment property and are presented as property, plant and equipment. Property Motor Total (in $ millions) $ $ $ Balance at January 1, 2021 39 * 39 Depreciation ( 27 ) * ( 27 ) Additions 100 6 106 Derecognition * * * Effects of movement in exchange rates * * * Balance at December 31, 2021 112 6 118 * Amounts less than $1 million Property Motor Total (in $ millions) $ $ $ Balance at January 1, 2022 112 6 118 Depreciation ( 36 ) ( 8 ) ( 44 ) Additions 35 37 72 Acquisition through business combination 35 — 35 Derecognition ( 6 ) — ( 6 ) Effects of movement in exchange rates ( 2 ) ( 2 ) ( 4 ) Balance at December 31, 2022 138 33 171 b) Amounts recognized in profit or loss 2022 2021 (in $ millions) $ $ Interest on lease liabilities 13 5 Income from sub-leasing right-of-use assets, expenses relating to short-term leases and leases of low-value assets, and expenses relating to variable lease payments not included in the measurement of lease liabilities were not material to the Group for the year ended 31 December 2022 and 2021. c) Amounts recognized in statement of cash flows 2022 2021 (in $ millions) $ $ Total cash outflow for leases 35 24 ii) As a lessor The Group leases out motor vehicles consisting of its owned vehicles as well as leased vehicles. All leases are classified as operating leases because they do not transfer substantially all of the risks and rewards incidental to the ownership of the assets. Rental income recognized by the G roup during 2022 was $ 126 milli on (2021: $ 103 million). The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date. 2022 2021 (in $ millions) $ $ Not later than one year 84 42 Later than one year and not later than five years 11 3 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | 24 Financial instruments i) Financial risk management The Group has exposure to the following risks from its use of financial instruments: • credit risk; • liquidity risk; and • market risk This note presents information about the Group’s exposure to each of the above risks, the Group’s objectives, policies and processes for measuring and managing risk, and the Group’s management of capital. a) Risk management framework The Board of Directors has overall responsibility for the establishment and oversight of the Group's risk management framework. Group management establishes policies and procedures around risk identification, measurement and management; and setting and monitoring risk limits and controls, in accordance with the objectives and underlying principles in the risk management framework approved by the Board of Directors. Risk management policies and procedures are reviewed regularly to reflect changes in market conditions and the Group’s activities. b) Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group’s trade receivables, loans and advances, payment cycle receivables, deposits and cash and cash equivalents. The Group does not have significant credit exposure to a single counterparty. Impairment losses on financial assets recognized in profit or loss were as follows: 2022 2021 2020 (in $ millions) $ $ $ Trade receivables 20 8 33 Loans and advances at amortized cost 31 11 10 Payment cycle receivables 6 5 3 Other receivables 1 3 11 Time deposits — ( 8 ) 8 Cash and cash equivalents — — ( 2 ) 58 19 63 Trade receivables Credit risk mainly relates to current trade receivables from consumers, driver-partners and merchant-partners under the Deliveries, Mobility and Enterprise and new initiatives segments. There is no significant concentration of customer credit risk. In monitoring customer credit risk, customers are grouped according to their credit characteristics which includes geographic location and operating segment. In response to the current macroeconomic trends, the Group has been performing more frequent reviews of receivable collection and the number of days past due in order to more closely monitor credit behavior and when necessary to respond with swift commercial action. The Group does not have collateral in respect of outstanding trade receivables. The Group does not have trade receivables for which no loss allowance is recognized because of collateral. The exposure to credit risk for trade receivables at the reporting date by geographic region was as follows: Net carrying amount 2022 2021 (in $ millions) $ $ Indonesia 28 36 Singapore 20 25 Philippines 12 5 Malaysia 19 13 Thailand 6 9 Other countries 15 7 100 95 Expected credit loss measurement The Group uses an allowance matrix to measure ECLs of trade receivables which comprise a large number of small balances. Loss rates are calculated using a ‘roll rate’ method based on the probability of a receivable progressing through successive stages of delinquency to write-off. Roll rates are calculated separately for exposures in different segments based on the common credit risk characteristics of geographic region and type of services purchased. Loss rates are based on actual payment and credit loss experience over the preceding 12 to 18 months. These rates are multiplied by scalar factors to reflect differences between economic conditions during the period over which the historical data has been collected, current conditions and the Group’s view of economic conditions over the expected lives of the receivables. The following table provides information about the exposure to credit risk and ECLs for trade receivables as at December 31: Weighted Gross Loss Credit (in $ millions) % $ $ 2022 Current (not past due) 6.75 83 ( 7 ) No 1 – 30 days past due 9.91 12 ( 1 ) No 31 – 60 days past due 15.52 9 ( 1 ) No 61 – 90 days past due 31.27 3 ( 1 ) No 91 – 120 days past due 42.41 3 ( 1 ) No More than 121 days 93.15 10 ( 9 ) Yes 120 ( 20 ) Weighted Gross Loss Credit (in $ millions) % $ $ 2021 Current (not past due) 2.94 70 ( 2 ) No 1 – 30 days past due 10.08 17 ( 2 ) No 31 – 60 days past due 20.46 10 ( 2 ) No 61 – 90 days past due 50.14 5 ( 2 ) No 91 – 120 days past due 55.76 4 ( 3 ) No More than 121 days 98.54 11 ( 11 ) Yes 117 ( 22 ) Movements in allowance for impairment in respect of trade receivables The movement in the allowance for impairment in respect of trade receivables during the year was as follows: 2022 2021 (in $ millions) $ $ At January 1 22 40 Impairment loss recognized 21 8 Amounts written off ( 22 ) ( 24 ) Exchange translation differences ( 1 ) ( 2 ) At December 31 20 22 Loans and advances Credit risk mainly pertains to term loans provided to merchant-partners, driver-partners and consumers. The Group closely monitors credit quality for the loans and advances to manage and evaluate the Group’s related exposure to credit risk. Credit risk management begins with initial underwriting and continues through to full repayment of a loan or advance. To assess a borrower who requests a loan or advance, the Group, among other indicators, internally developed risk models using detailed information from internal historical experience including the borrower’s prior repayment history with the Group as well as other measures. The Group uses delinquency status and trends to assist in making new and ongoing credit decisions, adjust models, plan collection practices and strategies. Exposure to credit risk The exposure to credit risk for loans and advances at the reporting date by geographic region was as follows: Carrying amount 2022 2021 (in $ millions) $ $ Malaysia 36 14 Singapore 59 40 Thailand 48 33 Philippines 19 13 Indonesia 13 2 Vietnam 10 5 185 107 There is no concentration of credit risk for loans and advances. Loss rates are calculated using a ‘roll rate’ method based on the probability of a receivable progressing through successive stages of delinquency to write-off. Roll rates are calculated separately for exposures in different segments based on the following common credit risk characteristics – geographic region, nature of counterparty and age of relationship. The following table provides information about the exposure to credit risk and ECLs for loans and advances to customers. Weighted Gross Loss Credit-impaired (in $ millions) % $ $ 2022 Current (not past due) 4.49 172 ( 8 ) No 1 – 30 days past due 14.61 17 ( 2 ) No 31 – 60 days past due 39.50 6 ( 2 ) No 61 – 90 days past due 66.72 4 ( 3 ) No 91 – 120 days past due 92.02 4 ( 3 ) Yes More than 121 days 91.11 4 ( 4 ) Yes 207 ( 22 ) Weighted Gross Loss Credit-impaired (in $ millions) % $ $ 2021 Current (not past due) 5.37 97 ( 5 ) No 1 – 30 days past due 12.84 16 ( 2 ) No 31 – 60 days past due 46.53 2 ( 1 ) No 61 – 90 days past due 56.23 1 ( 1 ) No 91 – 120 days past due 87.43 1 ( 1 ) Yes More than 121 days 91.12 1 ( 1 ) Yes 118 ( 11 ) Movements in allowance for impairment in respect of loans and advances The movement in the allowance for impairment in respect of loans and advances during the year was as follows: 2022 2021 (in $ millions) $ $ At January 1 11 9 Impairment loss recognized 31 11 Amounts written off ( 19 ) ( 9 ) Exchange translation differences ( 1 ) * At December 31 22 11 *Amount less than $1 million Deposits with banks and financial institutions and cash and cash equivalents At December 31, 2022, the Group held deposits with banks and financial institutions and cash and cash equivalents of $ 3,744 million (2021: $ 3,178 million) and $ 1,952 million (2021: $ 4,991 million) respectively. These amounts are held with reputable bank and financial institution counterparties. Impairment on deposits with a maturity of 12 months or less from reporting date and cash and cash equivalents has been measured on the 12-month expected loss basis and reflects the short maturities of the exposures. Impairment on deposits with a maturity of more than 12 months from reporting date has been measured on an expected loss basis that reflects the longer maturities of the exposures. The Group considers that these amounts have low credit risk based on the external credit ratings of the counterparties and therefore have insignificant provision for expected credit losses. c) Liquidity risks Risk management policy ‘Liquidity risk’ is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s objective when managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation. Management monitors rolling forecasts of the Group’s cash and cash equivalents on the basis of expected cash flows. This is generally carried out by operating companies of the Group in accordance with practice and limits set by the Group. These limits vary by location to take into account the liquidity of the market in which the entity operates. In addition, the Group’s liquidity management policy involves projecting cash flows in major currencies and considering the level of liquid assets necessary to meet these. The Group monitors its liquidity risk and maintains a level of cash and bank balances deemed adequate by management to finance the Group’s operations and to mitigate the effects of fluctuation in cash flows. As part of their overall liquidity management, the Group maintains sufficient levels of funds to meet its working capital requirements. While the Group's operations were previously financed mainly through the issuance of convertible redeemable preference shares (see Note 11), after the effectuation of the Reverse Recapitalization (see Note 11), longer term funding requirements are now primarily financed through term loan arrangements (see Note 13). The following are the contractual maturities of financial liabilities considered in the context of the Group’s liquidity risk management strategy. The amounts are gross and undiscounted and include contractual interest payments. Contractual cash flows Carrying Total Less than 1 to 5 years More than (in $ millions) $ $ $ $ $ 2022 Financial liabilities Bank loans 118 ( 127 ) ( 68 ) ( 59 ) — Term loan 1,061 ( 1,382 ) ( 120 ) ( 1,262 ) — Trade payables and other liabilities 913 ( 913 ) ( 794 ) ( 119 ) — Lease liabilities 186 ( 263 ) ( 47 ) ( 107 ) ( 109 ) 2,278 ( 2,685 ) ( 1,029 ) ( 1,547 ) ( 109 ) 2021 Financial liabilities Bank loans 138 ( 150 ) ( 74 ) ( 76 ) — Term loan 1,914 ( 2,422 ) ( 131 ) ( 2,291 ) — Trade payables and other liabilities 780 ( 780 ) ( 770 ) ( 10 ) — Lease liabilities 123 ( 197 ) ( 23 ) ( 58 ) ( 116 ) 2,955 ( 3,549 ) ( 998 ) ( 2,435 ) ( 116 ) *Amount less than $1 million d) Market risks Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Group’s income. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. Currency risk The Group is exposed to transactional foreign currency risk to the extent that there is a mismatch between the currencies in which sales, purchases, receivables, cash and cash equivalents and borrowings that are denominated in a currency other than the respective functional currencies of Group entities. The functional currencies of Group entities are primarily the currency of the country in which the entities operate. The currencies in which these transactions primarily are denominated are also in the currency in which the entities operate. The currencies in which these transactions are primarily denominated are the Singapore Dollar (“SGD”), Malaysian Ringgit (“MYR”) and Indonesian Rupiah (“IDR”). Interest on external borrowings is denominated in the currency of the borrowing. With the exception of the term loan financing obtained at a Group level (see Note 13), Group entities’ external borrowings are generally denominated in currencies that match the cash flows generated by the underlying operations of the Group, which is also the currency of the country in which the entity operates. In respect of other monetary assets and liabilities denominated in foreign currencies, the Group’s policy is to ensure that its net exposure is kept at a reasonable level by buying or selling foreign currencies at spot rates when necessary to address short term imbalances. Based on the above approach to currency risk management, the Group’s net exposure to currencies that are denominated in a currency other than the respective functional currencies of Group entities is insignificant. Interest rate risks Exposure to interest rate risk The Group’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Group to cash flow interest rate risk. The Group’s borrowings at variable rate were mainly denominated in United States Dollars, Singapore Dollars, Malaysian Ringgit, Indonesian Rupiah and Thai Baht. The borrowings are periodically contractually repriced and to that extent are also exposed to the risk of future changes in market interest rates. The Group monitors reform of benchmark interest rates by reviewing the total amounts of contracts that have yet to transition to an alternative benchmark rate. As at 31 December 2022, the term loan financing, which is a significant portion of the Group’s variable rate instruments, has not yet transitioned to an alternative benchmark rate although it does contractually contain fallback provisions to address such transition in the future. The risk of future changes in market interest rates with regard to variable rate pricing on the term loan financing is currently hedged using interest rate derivatives. The interest rate profile of the Group’s interest-bearing financial instruments as reported to the management of the Group is as follows: Carrying amount 2022 2021 (in $ millions) $ $ Fixed-rate instruments Other investments 3,744 3,178 Cash and cash equivalents 1,952 4,991 Bank loans ( 66 ) ( 100 ) Variable-rate instruments Bank loans ( 52 ) ( 38 ) Term loan ( 1,061 ) ( 1,914 ) Fair value sensitivity analysis for fixed-rate instruments Most fixed-rate financial assets and financial liabilities of the Group are not accounted for at FVTPL. Therefore, a change in interest rates at the reporting dates would not materially affect profit or loss. Cash flow sensitivity analysis for variable rate instruments For the bank loans, a change of 100 basis points in interest rates at the reporting date would have had an insignificant impact on profit or loss and equity. For the term loan, a 100 basis point increase in LIBOR (the applied benchmark rate) would have increase consolidated losses by approximately $ 6 million. ii) Capital management The Group’s objectives in managing capital are to ensure that the Group will be able to continue as a going concern and to maintain an optimal capital structure so as to enable it to execute business plans and to maximize shareholder value. The Group defines “capital” as including all components of equity and external borrowings. The capital management strategy translates into the need to ensure that at all times the Group has the liquidity and cash to meet its obligations as they fall due while maintaining a careful balance between equity and debt to finance its assets, day-to-day operations and future growth. Having access to flexible and cost-effective financing allows the Group to respond quickly to opportunities. The Group’s capital structure is reviewed on an ongoing basis with adjustments made in light of changes in economic conditions, regulatory requirements and business strategies affecting the Group. The Group balances its overall capital structure by considering the costs of capital and the risks associated with each class of capital. In order to maintain or achieve an optimal capital structure, the Group may issue new shares from time to time, retire or obtain new borrowings or adjust the asset portfolio. iii) Accounting classification and fair values The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. Carrying amount Fair value Note FVTPL FVOCI Amortized cost Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ (in $ millions) December 31, 2022 Financial assets Debt investments 772 26 — 798 179 567 52 798 Equity investments 7 334 — — 334 188 — 146 334 Time deposits 7 — — 3,744 3,744 — — — — Trade and other receivables 8 — — 372 372 — — — — Other assets 9 3 — 182 185 — 3 — 3 Cash and cash equivalents 10 — — 1,952 1,952 — — — — Total 1,109 26 6,250 7,385 367 570 198 1,135 Financial liabilities Term loan — — ( 1,061 ) ( 1,061 ) — — — — Warrant liabilities 15 ( 14 ) — — ( 14 ) ( 14 ) — — ( 14 ) Bank loans 13 — — ( 118 ) ( 118 ) — — — — Trade payables and other liabilities 15 ( 6 ) ( 93 ) ( 800 ) ( 899 ) — — ( 99 ) ( 99 ) Total ( 20 ) ( 93 ) ( 1,979 ) ( 2,092 ) ( 14 ) — ( 99 ) ( 113 ) Carrying amount Fair value Note FVTPL FVOCI Amortized cost Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ (in $ millions) December 31, 2021 Financial assets Debt investments 685 — — 685 594 91 — 685 Equity investments 7 618 — — 618 457 — 161 618 Time deposits 7 — — 3,178 3,178 — — — — Trade and other receivables 8 — — 255 255 — — — — Other assets 9 — — 172 172 — — — — Cash and cash equivalents 10 — — 4,991 4,991 — — — — Total 1,303 — 8,596 9,899 1,051 91 161 1,303 Financial liabilities Term loan — — ( 1,914 ) ( 1,914 ) — — — — Warrant liabilities 15 ( 54 ) — — ( 54 ) ( 21 ) — ( 33 ) ( 54 ) Bank loans 13 — — ( 138 ) ( 138 ) — — — — Trade payables and other liabilities 15 ( 9 ) — ( 771 ) ( 780 ) — — ( 9 ) ( 9 ) Total ( 63 ) — ( 2,823 ) ( 2,886 ) ( 21 ) — ( 42 ) ( 63 ) iv) Measurement of fair values a) Valuation techniques and significant unobservable inputs The following tables show the valuation techniques used in measuring Level 2 and Level 3 fair values for financial instruments in the statement of financial position, as well as the significant unobservable inputs used. The movement in fair value arising from reasonably possible changes to the significant unobservable inputs was assessed as not significant. Valuation technique Significant unobservable inputs Inter-relationship between significant unobservable inputs Assets Debt investments Broker prices/ Income approach Risk-adjusted discount rate using Income approach The estimated fair value would decrease (increase) if the discount rates were higher (lower). Equity Investments Market comparison technique Adjusted market multiple The estimated fair value would increase (decrease) if the adjusted market multiple were higher (lower). Volatility rates The estimated fair value would either increase or decrease if the volatility rate increases. Liabilities Put options issued to non-controlling interests (see Note 15) Income approach Probability attributed to achieving certain milestones The estimated fair value of the put liability would increase (decrease) if the probability attributed to achieving certain milestones were higher (lower). b) Level 3 fair values The following table shows a reconciliation from the opening balances to the ending balances for Level 3 fair values: Equity and debt investments Other liabilities Total $ $ $ (in $ millions) At January 1, 2021 143 — 143 Net change in fair value (unrealized) 17 18 35 Net purchases/ (issuances) 1 ( 60 ) ( 59 ) At December 31, 2021 161 ( 42 ) 119 At January 1, 2022 161 ( 42 ) 119 Net change in fair value (unrealized) ( 43 ) 3 ( 40 ) Net purchases/ (issuances) 80 ( 93 ) ( 13 ) Transfer between Level 3 and Level 1 — 33 33 At December 31, 2022 198 ( 99 ) 99 Transfer between Level 3 and 1 The warrants which were in the process of registration for resale as at December 31, 2021 has since been registered for resale and hence transferred from Level 3 to Level 1 due to the availability of quoted prices. |
Operating Segments
Operating Segments | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Operating Segments | 25. Operating segments i) Basis for segmentation The Group has the following strategic divisions which are its operating and also reportable segments. These segments offer different products and services, and are generally managed separately from a commercial, technological, marketing, operational and regulatory perspective. The Group’s chief executive officer (the Chief Operating Decision Maker or CODM) reviews performance of each segment on a monthly basis for purposes of business management, resource allocation, operating decision making and performance evaluation. The following summary describes the operations of each reportable segment: Reportable segments Operations Deliveries Connecting driver-partner and merchant-partner with consumers to create a localized logistics platform, facilitating and performing on-demand and scheduled delivery of a wide variety of daily necessities, including ready-to-eat meals and groceries, as well as point-to-point parcel delivery. In certain markets, it also includes the offering of delivery services for which the Group is directly responsible; and the offering of a variety of daily necessities through the operation of a chain of stores. Mobility Connecting consumers with rides provided by driver-partners across a wide variety of multi-modal mobility options including private cars, taxis, motorcycles (in certain countries), and shared mobility options, such as carpooling. It also includes vehicle rental to enable driver-partners to be able to offer services through the platform. Financial services Digital solutions offered by and with business partners to address the financial needs of driver and merchant partners and consumers, including digital payments, lending, receivables factoring, insurance distribution and wealth management in selected markets. Enterprise and new initiatives A suite of enterprise offerings including advertising and marketing offerings, mapping services and anti-fraud offerings. It also includes other lifestyle services offered by our business partners to consumers including domestic and home services, hotel bookings and subscriptions in certain markets. ii) Information about reportable segments The CODM evaluates operating segments based on revenue and Segment Adjusted EBITDA. Segment reporting revenue is disclosed in Note 18. Total revenue for reportable segments equals consolidated revenue for the Group. Segment Adjusted EBITDA is defined as net loss of each operating segment adjusted to exclude: (i) net interest income (expenses), (ii) other income (expenses), (iii) income tax expenses (credit), (iv) depreciation and amortization, (v) share-based compensation expenses, (vi) costs related to mergers and acquisitions, (vii) unrealized foreign exchange gain (loss), (viii) impairment losses on goodwill and non-financial assets, (ix) fair value changes on investments, (x) restructuring costs,(xi) legal, tax and regulatory settlement provisions, (xii) regional corporate costs and (xiii) share listing and associated expenses. Information about each reportable segment and reconciliation to amounts reported in consolidated financial statements is set out below: 2022 2021 2020 (in $ millions) $ $ $ Segment Adjusted EBITDA Deliveries ( 35 ) ( 130 ) ( 211 ) Mobility 494 345 307 Financial services ( 415 ) ( 349 ) ( 331 ) Enterprise and new initiatives 21 9 9 Total reportable Segment Adjusted EBITDA 65 ( 125 ) ( 226 ) Regional corporate costs ( 858 ) ( 717 ) ( 554 ) Net interest income (expenses) ( 57 ) ( 1,675 ) ( 1,391 ) Other income (expenses) 7 12 10 Income tax expenses ( 6 ) ( 3 ) ( 2 ) Depreciation and amortization ( 150 ) ( 345 ) ( 387 ) Share-based compensation expenses ( 412 ) ( 357 ) ( 54 ) Unrealized foreign exchange loss ( 2 ) ( 1 ) * Impairment losses on goodwill and non-financial assets ( 5 ) ( 15 ) ( 43 ) Fair value changes on investments ( 294 ) 37 ( 57 ) Restructuring costs ( 8 ) ( 1 ) ( 2 ) Legal, tax and regulatory settlement provisions ( 20 ) ( 12 ) ( 39 ) Share listing and associated expenses — ( 353 ) — Loss for the year ( 1,740 ) ( 3,555 ) ( 2,745 ) * Amount less than $1 million Assets and liabilities are predominantly reviewed by the CODM at a consolidated level and not at a segment level. Within the Group’s non-current assets are property, plant and equipment which are primarily located in Singapore, Malaysia and Indonesia. Other non-current assets such as intangible assets, goodwill and other investments are predominantly regional assets that are not attributed to a segment. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Business Combinations | 26. Business combinations On January 31, 2022, the Group acquired a 75 % economic interest in Jaya Grocer Holdings Sdn. Bhd. (“Jaya Grocer”), an operator of stores offering daily necessities in Malaysia predominantly in the Klang Valley near Kuala Lumpur. Included in the identifiable assets and liabilities acquired at the date of acquisition of Jaya Grocer are inputs (a patented trademark, warehouses, outlets and inventories), processes and organized workforce. The Group has determined that together the acquired inputs and processes significantly contribute to the ability to create revenue. The Group has therefore concluded that the acquired entity is a business. The acquisition of Jaya Grocer will enable the Group to grow the market for online grocery services in Malaysia. The acquisition enables Grab to bring more Jaya Grocer retail stores onto its marketplace, while also leveraging Jaya Grocer’s large supplier network to further expand its groceries product line at lower costs. For the year ended December 31, 2022, Jaya Grocer contributed revenue of $ 334 million and profit after tax of $ 11 million to the Group’s results. If the acquisition had occurred on January 1, 2022, management estimates that consolidated revenue of the Group would have been $ 1,466 million and consolidated loss would have been $ 1,739 million. i) Purchase consideration The following table summarizes the acquisition date fair value of each major class of consideration: (in $ millions) $ Cash 181 Equity instruments ( 8,173,375 ordinary shares) measured based on the listed share price of the Company at January 31, 2022 of $ 5.66 per share 46 227 ii) Acquisition related costs The Group incurred acquisition-related costs of $ 1.3 million on legal fees and due diligence costs. These costs have been included in ‘general and administrative expenses’. iii) Identifiable assets acquired and liabilities assumed The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the date of acquisition. (in $ millions) $ Property, plant and equipment 32 Right-of-use assets 35 Intangible assets 69 Merchandise inventories 50 Trade and other receivables 10 Cash and cash equivalents 16 Loans and borrowings ( 18 ) Lease liabilities ( 37 ) Deferred tax liabilities ( 21 ) Trade payables and other liabilities ( 51 ) Identifiable net assets acquired 85 Less: Non-controlling interest proportionate share of identifiable net assets ( 21 ) Goodwill on acquisition (described below) 163 Purchase consideration 227 The goodwill is attributable mainly to the cost and revenue synergies expected to be achieved from integrating Jaya’s operations, supplier network and assets into the Group’s future business expansion. None of the goodwill recognized is expected to be deductible for tax purposes. The Group has written an option granting the non-controlling shareholder (“Timbang Perkasa”) the right to sell their 25 % ownership interest to the Group three years after the date of acquisition. As Timbang Perkasa has present access to the returns until exercise of the option, the financial liability of $ 90 million arising from the put option, which is presented within “Other liabilities,” is not included in the consideration transferred, but is accounted for separately with a corresponding recognition within equity under “Other reserves”. Subsequent changes in the measurement of this liability will be recognized within equity. The valuation techniques used for measuring the fair value of material assets acquired were as follows. Assets acquired Valuation technique Property, plant and equipment Market comparison technique and cost technique : The valuation model considers market prices for similar items when they are available, and depreciated replacement cost when appropriate. Intangible assets (Trademark) Relief-from-royalty method : The relief-from-royalty method considers the discounted estimated royalty payments that are expected to be avoided as a result of the patents being owned. Inventories Market comparison technique : The fair value is determined based on the estimated selling price in the ordinary course of business less the estimated costs of completion and sale, and a reasonable profit margin based on the effort required to complete and sell the inventories. |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Contingencies and Commitments | 27. Contingencies and commitments i) Contingencies The Group is involved in multiple legal proceedings in the countries in which it operates. These legal proceedings relate to a range of matters including personal injury or property damage cases, employment or labor-related disputes, contractual disputes with suppliers or commercial partners, disputes with third parties and regulatory inquiries and proceedings relating to compliance with competition, privacy or other applicable regulations. As at December 31, 2022, in view of the uncertainty of the outcome of these proceedings, with the exception of certain specific legal claims (see Note 14), provisions for such claims have not been recognized as the Group does not consider these proceedings to result in obligations or in the outflow of resources. These possible obligations include: a) an internal investigation into potential violations of certain anti-corruption laws relating to the Group's operations in one of the countries in which it operates. The Group voluntarily self-reported the potential violations to the U.S. Department of Justice during 2020; and b) two putative shareholder class action lawsuits filed during 2022 against the Company and certain of its officers in the U.S. District Court for the Southern District of New York. ii) Commitments The Group has entered into non-cancellable contracts which mainly pertain to purchase of data processing and technology platform infrastructure services. The following table summarizes significant contractual obligations and commitments as of December 31, 2022: Payments due by period Total Less than 1 to 5 (in $ millions) $ $ $ Non-cancellable purchase obligations 729 505 224 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Subsequent Events | 28. Subsequent events In February 2023, the Group paid $ 600 million towards prepayment of the term loan financing. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Basis of consolidation | 4.1. Basis of consolidation i) Business combinations The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. The Group has an option to apply a ‘concentration test’ that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The optional concentration test is met if substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The Group measures goodwill at the date of acquisition, considering the following factors: • the fair value of the consideration transferred; • the recognized amount of any non-controlling interests (“NCI”) in the acquiree; • if the business combination is achieved in stages, the fair value of the pre-existing equity interest in the acquiree, over the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed. Any goodwill that arises is tested annually for impairment. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. When the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss. Any contingent consideration payable is recognized at fair value at the date of acquisition and included in the consideration transferred. If the contingent consideration that meets the definition of financial instruments is classified as equity, it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes to the fair value of the contingent consideration are recognized in profit or loss. When share-based payments awards (replacement awards) are exchanged for awards held by the acquiree’s employees (acquiree’s awards) and related to past services, then all or a portion of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based value of the replacement awards compared with the market-based value of the acquiree’s awards and the extent to which the replacement awards related to past and/or future service. NCI that are present ownership interests and entitle their holders to a proportionate share of the acquiree’s net assets in the event of liquidation are measured either at fair value or at the NCI’s proportionate share of the recognized amounts of the acquiree’s identifiable net assets, at the date of acquisition. The measurement basis taken is elected on a transaction-by-transaction basis. All other NCI are measured at acquisition-date fair value, unless another measurement basis is required by IFRSs. When the Group enters into a put option agreement with NCI shareholders in an existing subsidiary on their equity interests in that subsidiary, the Group recognizes a liability for the present value of the exercise price of the option that is expected to be settled in cash. If the NCI shareholders have present access to the returns until exercise of the option, the financial liability is recognized separately with a corresponding recognition within equity. Subsequent changes in the measurement of this liability are recognized within equity. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, that the Group incurs in connection with a business combination are expensed as incurred. Changes in the Group’s interest in a subsidiary that do not result in a loss of control are accounted for as transactions with owners in their capacity as owners and therefore no adjustments are made to goodwill and no gain or loss is recognized in profit or loss. Adjustments to NCI arising from transactions that do not involve the loss of control are based on a proportionate amount of the net assets of the subsidiary. ii) Reverse acquisitions A ‘reverse acquisition’ is a merger of entities in which, for accounting purposes, the legal acquirer is identified as the accounting acquiree and the legal acquiree is identified as the accounting acquirer. The identification of the accounting acquirer and acquiree is based on the principles of business combination accounting. If the accounting acquiree is identified as a business, business combination accounting is applied. However if the accounting acquiree does not meet the definition of a business, share-based payment accounting is applied for share based consideration. iii) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed when necessary to align them with the policies adopted by the Group. Losses applicable to the NCI in a subsidiary are allocated to the NCI even if doing so causes the NCI to have a deficit balance. iv) Acquisitions from entities under common control Business combinations arising from transfers of interests in entities that are under the control of the shareholder that controls the Group are accounted for as if the acquisition had occurred at the beginning of the earliest comparative year presented or, if later, at the date that common control was established; for this purpose, comparatives are restated. The assets and liabilities acquired are recognized at the carrying amounts recognized previously in the Group controlling shareholder’s consolidated financial statements. The components of equity of the acquired entities are added to the same components within Group equity and any gain/loss arising is recognized directly in equity. v) Loss of control Upon the loss of control, the Group derecognizes the assets and liabilities of the subsidiary, any NCI, and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognized in profit or loss. If the Group retains any interest in the former subsidiary, then such interest is measured at fair value at the date that control is lost. vi) Investments in associates and joint ventures (equity-accounted investees) Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies of these entities. Significant influence is presumed to exist when the Group holds 20 % or more of the voting power of another entity. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in associates and joint ventures are accounted for using the equity method. They are recognized initially at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income (“OCI”) of equity-accounted investees, after adjustments to align the accounting policies with those of the Group, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When the Group’s share of losses exceeds its investment in an equity-accounted investee, the carrying amount of the investment, together with any long-term interests that form part thereof, is reduced to zero, and the recognition of further losses is discontinued except to the extent that the Group has an obligation to fund the investee’s operations or has made payments on behalf of the investee. vii) Transactions eliminated on consolidation Intra-group balances and transactions, and any unrealized income or expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity-accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. |
Foreign currency | 4.2. Foreign currency i) Foreign currency transactions Transactions in foreign currencies are translated to the respective functional currencies of Group entities at the exchange rates at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated to the functional currency at the exchange rate at the reporting date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Foreign currency differences are recognized in profit or loss and presented within finance costs. Foreign currency differences arising from the translation of investment in equity securities designated as fair value to other comprehensive income (“FVOCI”) are recognized in OCI. ii) Foreign operations The assets and liabilities of foreign operations are translated to United States dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated to United States dollars at average exchange rates. Foreign currency differences are recognized in OCI and presented in the foreign currency translation reserve in equity except to the extent that the translation difference is allocated to NCI. When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant proportion of the cumulative amount is reattributed to NCI. When the Group disposes of only part of its investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely to occur in the foreseeable future, foreign exchange gains and losses arising from such a monetary item that are considered to form part of a net investment in a foreign operation are recognized in OCI and are presented in the translation reserve in equity. |
Financial instruments | 4.3. Financial instruments i) Recognition and initial measurement Trade receivables and debt investments issued are initially recognized when they are originated. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. ii) Classification and subsequent measurement a) Financial assets On initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investment; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting year following the change in the business model. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is to hold assets to collect contractual cash flows; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held-for-trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment‑by‑investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. Financial assets – Business model assessment The Group makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: • the stated policies and objectives for the portfolio and the operation of those policies in practice. These include whether management’s strategy focuses on earning contractual interest income, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of any related liabilities or expected cash outflows or realizing cash flows through the sale of the assets; • how the performance of the portfolio is evaluated and reported to the Group’s management; • the risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; • how managers of the business are compensated – e.g. whether compensation is based on the fair value of the assets managed or the contractual cash flows collected; and • the frequency, volume and timing of sales of financial assets in prior years, the reasons for such sales and expectations about future sales activity. Transfer of financial assets to third parties in transactions that do not qualify for derecognition are not considered sales for this purpose, consistent with the Group’s continuing recognition of the assets. Financial assets that are held-for-trading or are managed and whose performance is evaluated on a fair value basis are measured at FVTPL. Financial assets – Assessment whether contractual cash flows are solely payments of principal and interest For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as a profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers: • contingent events that would change the amount or timing of cash flows; • terms that may adjust the contractual coupon rate, including variable‑rate features; • prepayment and extension features; and • terms that limit the Group’s claim to cash flows from specified assets (e.g. non‑recourse features). A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a discount or premium to its contractual par amount, a feature that permits or requires prepayment at an amount that substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable additional compensation for early termination) is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition. Financial assets – Subsequent measurement and gains and losses Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. b) Financial liabilities – Classification, subsequent measurement and gains and losses Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL, which include warrant liabilities, are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Directly attributable transaction costs are recognized in profit or loss as incurred. Other financial liabilities are initially measured at fair value less directly attributable transaction costs. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. These financial liabilities comprised loans and borrowings, bank overdrafts, and trade and other payables. iii) Derecognition a) Financial assets The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Where the Group enters into transactions whereby it transfers assets recognized in its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognized. b) Financial liabilities The Group derecognizes a financial liability when its contractual obligations are discharged or canceled or expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. iv) Offsetting Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. v) Cash and cash equivalents Cash and cash equivalents comprise cash balances and short-term deposits with maturities of three months or less from the date of acquisition that are subject to an insignificant risk of changes in their fair value and are used by the Group in the management of its short-term commitments. For the purpose of the statement of cash flows, bank overdrafts that are repayable on demand and that form an integral part of the Group’s cash management are included in cash and cash equivalents. vi) Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity, net of any tax effects. vii) Warrants Share purchase warrants issued by the Group are accounted for as derivative liabilities. The warrants are initially recognized at fair value, and in subsequent periods measured at fair value through profit or loss with any changes in fair value recognized in profit or loss until the warrants are exercised, redeemed, or expire. viii) Compound financial instruments Compound financial instruments previously included convertible redeemable preference shares denominated in United States dollars that could be converted to share capital at the option of the holder, where the number of shares to be issued was fixed and did not vary with changes in fair value. The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognized at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest method. The equity component of a compound financial instrument is not remeasured. Interest related to the liability component is recognized in profit or loss and presented within finance costs. On conversion, the liability component is reclassified to equity and no gain or loss is recognized. |
Impairment | 4.4 Impairment i) Non-derivative financial assets The Group recognizes loss allowances for expected credit loss on financial assets measured at amortized cost. Loss allowances are measured on either of the following bases: • 12-month ECLs: these are ECLs that result from default events that are possible within the 12 months after the reporting date (or for a shorter period if the expected life of the instrument is less than 12 months); or • Lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument or contract asset. Simplified approach The Group applies the simplified approach to provide for ECLs for all trade receivables. The simplified approach requires the loss allowance to be measured at an amount equal to lifetime ECLs. General approach The Group applies the general approach to provide for ECLs on all other financial instruments. Under the general approach, the loss allowance is measured at an amount equal to 12-month ECLs at initial recognition. At each reporting date, the Group assesses whether the credit risk of a financial instrument has increased significantly since initial recognition. When credit risk has increased significantly since initial recognition, loss allowance is measured at an amount equal to lifetime ECLs. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and includes forward-looking information. If credit risk has not increased significantly since initial recognition or if the credit quality of the financial instruments improves such that there is no longer a significant increase in credit risk since initial recognition, loss allowance is measured at an amount equal to 12-month ECLs. The Group considers a financial asset to be in default when: • the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held); or • the financial asset is more than 90 days past due (more than 120 days past due for trade receivables). Measurement of ECLs ECLs are probability-weighted estimates of credit losses. Credit losses are measured at the present value of all cash shortfalls (i.e., the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset. Credit-impaired financial assets At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt investments at FVOCI are ‘credit-impaired’. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: • significant financial difficulty of the borrower or issuer; • a breach of contract such as a default or being more than 90 days past due (more than 120 days past due for trade receivables); • the restructuring of a loan or advance by the Group on terms that the Group would not consider otherwise; • it is probable that the borrower will enter bankruptcy or another financial reorganization; or • the disappearance of an active market for a security because of financial difficulties. Presentation of allowance for ECLs in the statement of financial position Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. Write-off The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due. ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, are tested annually for impairment and the recoverable amount is estimated each year. An impairment loss is recognized if the carrying amount of an asset or its related cash-generating unit (“CGU”) exceeds its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, for the purposes of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGUs that are expected to benefit from the synergies of the combination. The Group’s corporate assets do not generate separate cash inflows and are utilized by more than one CGU. Corporate assets are allocated to CGUs on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior years are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. Goodwill that forms part of the carrying amount of an investment in an associate is not recognized separately, and therefore is not tested for impairment separately. Instead, the entire amount of the investment in an associate is tested for impairment as a single asset when there is objective evidence that the investment in an associate may be impaired. |
Property, plant and equipment | 4.5 Property, plant and equipment i) Recognition and measurement Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of self-constructed assets includes: • any other costs directly attributable to bringing the assets to a working condition for their intended use; and • when the Group has an obligation to remove the asset or restore the site, an estimate of the costs of dismantling and removing the items and restoring the site on which they are located. Purchased software that is integral to the functionality of the related equipment is capitalized as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. The gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss and presented within other expenses. ii) Subsequent costs The cost of replacing a component of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the component will flow to the Group, and its cost can be measured reliably. The carrying amount of the replaced component is derecognized. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred and presented within cost of revenue and general and administrative expenses. iii) Depreciation Depreciation is based on the cost of an asset less its residual value. Significant components of individual assets are assessed and if a component has a useful life that is different from the remainder of that asset, that component is depreciated separately. Depreciation is recognized as an expense in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment, unless it is included in the carrying amount of another asset. Depreciation is recognized from the date that the property, plant and equipment is installed and are ready for use, or in respect of internally constructed assets, from the date that the asset is completed and ready for use. The estimated useful lives for the current and comparative years are as follows: • Computers 2 - 3 years • Building and renovation 3 - 5 years • Motor vehicles 5 - 7 years • Office and other equipment 4 - 5 years Depreciation methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate. |
Intangible assets and goodwill | 4.6 Intangible assets and goodwill i) Recognition and measurement a) Goodwill Goodwill that arises upon the acquisition of subsidiaries is included in intangible assets. Goodwill is measured at cost less accumulated impairment losses. In respect of associates, the carrying amount of goodwill is included in the carrying amount of the investment, and an impairment loss on such an investment is not allocated to any assets, including goodwill, that form part of the carrying amount of the associates. b) Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding is recognized in profit or loss as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use or sell the asset. The expenditure capitalized includes the cost of material, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use. Other development expenditures are recognized in profit or loss as incurred. Capitalized development expenditures are measured at cost less accumulated amortization and accumulated impairment losses. c) Other intangible assets Other intangible assets, including a trademark, non-compete agreement and agent networks, that are acquired by the Group and have finite useful lives, are measured at cost less accumulated amortization and accumulated impairment losses. The non-compete agreement prohibits the counterparty from competing with Grab in multiple business verticals within Southeast Asia, including the ride-sharing industry. ii) Subsequent expenditure Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands is recognized in profit or loss as incurred and presented within general and administrative expenses. iii) Amortization Amortization is calculated based on the cost of the asset, less its residual value. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than the non-compete agreement and goodwill, from the date that they are available for use. For the non-compete agreement, amortization was recognized based on a diminishing balance method that reflected the pattern in which future economic benefits arising from the non-compete agreement were expected to be consumed by the Group. The estimated useful lives for the current and comparative years are as follows: • Trademark 13 years • Non-compete agreement 4 years • Other intangible assets 3 years Amortization methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate. |
Leases | 4.7 Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. i) As a lessee At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of its relative stand-alone prices. The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The right-of-use asset is subsequently stated at cost less accumulated depreciation and impairment losses. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: • fixed payments, including in-substance fixed payments; • variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; • amounts expected to be payable under a residual value guarantee; and • the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group presents right-of-use assets that do not meet the definition of investment property in ‘property, plant and equipment’ and lease liabilities in ‘loans and borrowings’ in the statement of financial position. Short-term leases and leases of low-value assets The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. ii) As a lessor At inception or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. If an arrangement contains lease and non-lease components, then the Group applies IFRS 15 to allocate the consideration in the contract. The Group applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The Group further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease. The Group leases motor vehicles to driver-partners who typically use the vehicles to provide transport and delivery services through Grab Platform. The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of ‘Revenue’. Rental income from lease of motor vehicles is presented as a part of ‘Mobility revenue (see Note 4.11(i))’. |
Inventories | 4.8 Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the first-in first-out or weighted average allocation methods depending on the nature of inventory, and includes expenditure incurred in acquiring the inventories, production or conversion costs, and other costs incurred in bringing them to their existing location and condition. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and estimated costs necessary to make the sale. |
Employee benefits | 4.9 Employee benefits i) Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an employee benefit expense in profit or loss in the years during which related services are rendered by employees. ii) Defined benefits plans A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Group’s net obligation in respect of defined benefits plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in return for their service in the current and prior years that benefit is discounted to determine its present value. The fair value of any plan assets is deducted. The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the year by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the net defined liability (asset). The discount rate is the yield at the reporting date on bonds that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the currency in which the benefits are expected to be paid. The calculation is performed annually by a qualified actuary using the projected unit credit method. When the calculation results in a benefit to the Group, the recognized asset is limited to the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan. In order to calculate the present value of economic benefits, consideration is given to any minimum funding requirements that apply to any plan in the Group. An economic benefit is available to the Group if it is realizable during the life of the plan, or on settlement of the plan liabilities. Remeasurements of the net defined benefit liability comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest). The Group recognizes them immediately in OCI and all expenses related to defined benefit plans in employee benefits expense in profit or loss. When the benefits of a plan are changed, or when a plan is curtailed, the portion of the changed benefit related to past service by employees, or the gain or loss on curtailment is recognized immediately in profit or loss when the plan amendment or curtailment occurs. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs. The gain or loss on settlement is the difference between the present value of the defined benefit obligation being settled as determined on the date of settlement and the settlement price, including any plan assets transferred and any payments made directly by the Group in connection with the settlement. iii) Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably. iv) Employee leave entitlement Employee entitlements to annual leave are recognized when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the reporting date. v) Share-based payment transactions The grant date fair value of equity-settled share-based payment awards granted to employee is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. Where an award is canceled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. |
Provisions | 4.10 Provisions A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as a finance cost. Provisions for dismantlement, removal and restoration are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obligation and the amounts have been reliably estimated. The Group recognizes the estimated costs of dismantlement, removal or restoration of items of property, plant and equipment arising from the acquisition or use of assets. This provision is estimated based on the best estimate of the expenditure required to settle the obligation, taking into consideration time value. Changes in the estimated timing or amount of the expenditure or discount rate for asset dismantlement, removal and restoration costs are adjusted against the cost of the related property, plant and equipment, unless the decrease in the liability exceeds the carrying amount of the assets or the asset has reached the end of its useful life. In such cases, the excess of the decrease over the carrying amount of the asset or the changes in the liability is recognized in profit or loss immediately. |
Revenue | 4.11 Revenue The Group recognizes revenue as or when it satisfies its service obligations. The Group earns revenue predominantly from the following services: i) Revenue by segment a) Deliveries Fees earned from driver-partners, merchant-partners and consumers for connecting driver-partners and merchant-partners with consumers to facilitate delivery of a variety of daily necessities, including ready-to-eat meals and groceries, as well as point-to-point parcel delivery. In certain markets, deliveries revenue includes delivery fees charged to consumers where the Group is responsible for delivery services; and income earned from the sale of a variety of daily necessities through the operation of a chain of stores. b) Mobility Fees earned from driver-partners and consumers for connecting consumers with transportation rides provided by driver-partners across a variety of multi-modal mobility options. Mobility revenue also includes rental income from the leasing of motor vehicles to driver-partners, who typically use the vehicles to offer services through the Grab Platform (see 4.7(ii) for lease accounting as a lessor). Deliveries and Mobility: principal vs. agent considerations and related revenue recognition The Group enters into service agreements with driver-partners and merchant-partners to use the Grab Platform. A contract exists between the Group and the driver-partners and merchant-partners once they accept a transaction request and their ability to cancel the transaction lapses. The Group evaluates the presentation of revenue on a gross or net basis based on whether it acts as a principal by controlling the service provided to the consumer, or whether it acts as an agent by arranging for third parties to provide the service to the consumer. The Group predominantly facilitates the provision of the service by driver-partners and merchant-partners to consumers, for the driver-partners and merchant-partners to fulfill their contractual promise to the consumers. The driver-partners and merchant-partners fulfill their promise to provide a service to their customer through use of the Grab Platform. While in these agreements the Group facilitates setting the price for services, the driver-partners and consumers have the discretion in accepting the transaction price through the Grab Platform. In these agreements, the Group is not responsible for fulfilling the services being provided to the consumer nor does the Group have inventory risk related to these services. With regard to these agreements, the Group has concluded that the Group is acting as an agent to facilitate the successful completion of delivery and transportation services by the driver-partners and merchant-partners to consumers. In enabling connection in these agreements, the driver-partners, merchant-partners and consumers are considered the Group’s customers; with the Group having a separate performance obligation to each: • the driver-partners (to connect the drive-partners with consumers to facilitate and successfully complete transportation and delivery services), • the merchant-partners (to connect the merchant-partners with consumers to facilitate and successfully complete ordering services); and • the consumer (to connect the consumer with driver-partners and merchant-partners). The Group recognizes fees on the completion of a successful transportation or delivery service by driver-partners and merchant-partners. With regard to these agreements, the Group recognizes revenue on a net basis, reflecting the fees owed to the Group from the driver-partners, merchant-partners and consumers as revenue, and not the gross amount collected from consumers. In certain markets, the Group is responsible for delivery services to consumers and separately subcontracts with driver-partners or third party couriers to perform the delivery on behalf of the Group. With regard to these agreements, the Group is the principal controlling the delivery services to consumers and therefore recognizes the delivery fees charged to consumers as revenue, with payments to driver-partners or third party couriers recognized in 'Cost of revenue' (see Note 4.12). c) Financial services Financial services revenue predominantly comprises: • effective interest earned on loans and advances provided to merchant-partners, driver-partners and consumers (see Note 4.3(ii) for measurement of financial assets at amortized cost); and fees from wealth management and insurance distribution offerings. • fees earned from digital payment processing services charged to merchant-partners primarily based on the Total Payments Volume (“TPV”) processed through the Grab Platform. TPV is the value of payments, net of payment reversals, successfully completed through the Grab Platform. Transaction fee revenue resulting from a payment processing transaction is recognized once the transaction is complete. d) Enterprise and new initiatives Fees predominantly earned from digital advertising and marketing services. Revenue is recognized once the obligation to provide the service is satisfied. ii) Incentives to customers The Group evaluates the presentation of the incentives paid to customers based on whether the Group receives a separate identifiable benefit from the respective customer. The Group has concluded that it does not receive distinct goods or services from the respective customer and the incentives are therefore recorded as a reduction from fees received from the respective customer. To the extent that such incentives exceed the amount of fees received from the respective customer, the excess is recorded as negative revenue. For loyalty rewards offered to customers as part of revenue transactions, the Group defers a portion of the revenue based on the estimated standalone selling price of the loyalty rewards earned and recognizes the revenue as they are redeemed in future transactions or when the rewards expire. |
Expenses | 4.12 Expenses The main components of the Group’s expenses by functions are as follows: i) Cost of revenue comprises expenses directly or indirectly attributable to the Group's Deliveries, Mobility, Financial Services and Enterprise offerings (see Note 4.11) and primarily consists of data management and platform related technology costs including amortization of technology and market activity related intangible assets, carrying amount of inventories of daily necessities sold directly to consumers, payments to driver-partners where the Group is responsible for delivery services to consumers (see Note 4.11), compensation costs (including share-based compensation) for operations and support personnel, payment processing fees, costs incurred in relation to its motor vehicle fleet used for rental services including depreciation and impairment; and an allocation of associated corporate costs such as depreciation of right-of-use assets. ii) Sales and marketing primarily consist of advertising costs, compensation costs (including share-based compensation) to sales and marketing employees and an allocation of associated corporate costs such as depreciation of right-of-use assets. iii) Research and development expenses primarily consist of compensation cost (including share-based compensation) to engineering, design and product development employees, and allocation of associated corporate costs such as depreciation of right-of-use assets. iv) General and administrative expenses primarily consist of compensation costs (including share-based compensation) for executive management and administrative personnel (including finance and accounting, human resources, policy and communications, legal, facility and general administration employees), occupancy and facility costs, administrative fees, professional service fees, depreciation on certain administration assets, legal settlement accrual and allocation of associated corporate costs such as depreciation of right-of-use assets. |
Finance income and finance costs | 4.13 Finance income and finance costs The Group’s net finance income or costs include: • interest income; • interest expense; • the net gain or loss on financial instruments at FVTPL; • the foreign currency gain or loss on financial assets and financial liabilities; • the gain or loss on modification of financial liabilities; and • the unwinding of the discount on provisions. Interest income or expense is recognized using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to: • the gross carrying amount of the financial asset; or • the amortized cost of the financial liability. In calculating interest income and expense, the effective interest rate is applied to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortized cost of the liability. However, for financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial asset. If the asset is no longer credit-impaired, then the calculation of interest income reverts to the gross basis. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest rate method. |
Related parties | 4.14 Related parties For the purposes of these consolidated financial statements, parties are considered to be related to the Group if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. |
Income tax | 4.15 Income tax Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that they relate to a business combination, or items recognized directly in equity or in OCI. The Group has determined that interest and penalties related to income taxes, including uncertain tax treatments, do not meet the definition of income taxes, and therefore accounted for them under IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. Current tax assets and liabilities are offset only if certain criteria are met. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for: • temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; • temporary differences related to investments in subsidiaries to the extent that the Group is able to control the timing of the reversal of the temporary difference and it is probable that they will not reverse in the foreseeable future; and • taxable temporary differences arising on the initial recognition of goodwill. The measurement of deferred taxes reflects the tax consequences that would follow the manner in which the Group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for individual subsidiaries in the Group. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. In determining the amount of current and deferred tax, the Group takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Group believes that its accruals for income tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Group to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact income tax expense in the period that such a determination is made. |
Loss per share | 4.16 Loss per share The Group presents basic and diluted loss per share data for its ordinary shares. Basic loss per share is calculated by dividing the loss attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the year, adjusted for own shares held. Diluted loss per share is calculated by giving effect to all potential weighted average dilutive ordinary shares. The dilutive effect of outstanding share options, restricted share units (“RSUs”), warrants and convertible redeemable preference shares is reflected in diluted loss per ordinary share by application of the treasury stock method. |
Segment reporting | 4.17 Segment reporting An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. The operating results are reviewed regularly by the Group’s chief executive officer (the Chief Operating Decision Maker or “CODM”) to make decisions about resources to be allocated to the segment and to assess its performance, and for which discrete financial information is available. Segment results that are reported to the Group’s CODM include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise mainly corporate assets, head office expenses, and tax assets and liabilities. |
Government grants | 4.18 Government grants Government grants are recognized when there is reasonable assurance that the grant will be received, and all attaching conditions will be complied with. Government grants are recognized in profit or loss on a systematic basis over the periods in which the entity recognizes as expenses the related costs for which the grants are intended to compensate. Government grants are recognized as 'Other income' in profit or loss. |
Standards issued but not yet effective | 4.19 Standards issued but not yet effective A number of new standards are effective for annual periods beginning after January 1, 2022 and earlier application is permitted; however, the Group has not early adopted the new or amended standards in preparing these consolidated financial statements. Based on an initial assessment, the following new and amended standards are not expected to have a significant impact on the Group’s consolidated financial statements. • Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) • Classification of Liabilities as Current or Non-current (Amendments to IAS 1) • IFRS 17 Insurance Contracts and amendments to IFRS 17 Insurance Contracts • Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) • De finition of Accounting Estimates (Amendments to IAS 8) |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary Of Estimated Useful Lives For Property, Plant and Equipment | The estimated useful lives for the current and comparative years are as follows: • Computers 2 - 3 years • Building and renovation 3 - 5 years • Motor vehicles 5 - 7 years • Office and other equipment 4 - 5 years |
Summary Of Estimated Useful Lives For Intangible Assets | The estimated useful lives for the current and comparative years are as follows: • Trademark 13 years • Non-compete agreement 4 years • Other intangible assets 3 years |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary Of Reconciliation of Carrying Amount of Property, Plant And Equipment | i) Reconciliation of carrying amount Note Computers Buildings Motor Office Total (in $ millions) $ $ $ $ $ Cost At January 1, 2021 50 129 486 36 701 Additions 16 136 41 6 199 Write-offs/disposal ( 3 ) ( 39 ) ( 48 ) ( 2 ) ( 92 ) Effects of movements in exchange rates ( 1 ) 2 ( 9 ) ( 1 ) ( 9 ) At December 31, 2021 62 228 470 39 799 Additions 22 50 65 11 148 Acquisition through business combination 26 1 54 1 11 67 Write-offs/disposal ( 1 ) ( 33 ) ( 26 ) — ( 60 ) Effects of movements in exchange rates ( 3 ) ( 8 ) ( 6 ) ( 3 ) ( 20 ) At December 31, 2022 81 291 504 58 934 Note Computers Buildings Motor Office Total (in $ millions) $ $ $ $ $ Accumulated depreciation and impairment losses At January 1, 2021 35 72 192 18 317 Depreciation for the year 16 34 53 6 109 Write-offs/disposal ( 3 ) ( 39 ) ( 24 ) ( 2 ) ( 68 ) Impairment loss — 1 6 — 7 Effects of movements in exchange rates ( 1 ) ( 1 ) ( 4 ) ( 1 ) ( 7 ) At December 31, 2021 47 67 223 21 358 Depreciation for the year 13 48 58 10 129 Write-offs/disposal ( 1 ) ( 23 ) ( 14 ) — ( 38 ) Impairment (reversal) loss of PPE — 6 ( 3 ) — 3 Effects of movements in exchange rates ( 2 ) ( 4 ) ( 2 ) ( 2 ) ( 10 ) At December 31, 2022 57 94 262 29 442 Carrying amounts At January 1, 2021 15 57 294 18 384 At December 31, 2021 15 161 247 18 441 At December 31, 2022 24 197 242 29 492 |
Summary Of Key Assumptions Used In Estimate Of Value In Use | Key assumptions used in the estimate of value in use were as follows: 2022 2021 2020 % % % Discount rate 15 6.6 to 12 6.9 to 12 Budgeted rental rate growth 6.7 0 to 1.8 0 to 4 Utilization rates 82 46 to 94 45 to 95 |
Intangible assets and goodwill
Intangible assets and goodwill (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary Of Reconciliation Of Carrying Amount of Intangible Assets And Goodwill | i) Reconciliation of carrying amount Note Goodwill Trademark Non-compete agreement Other intangible assets Total (in $ millions) $ $ $ $ $ Cost At January 1, 2021 712 — 1,644 101 2,457 Additions — — — 3 3 Internally developed — — — 9 9 Disposals/Write-off — — — ( 1 ) ( 1 ) Effects of movements in exchange rates — — — ( 5 ) ( 5 ) At December 31, 2021 712 — 1,644 107 2,463 Additions — — — 5 5 Internally developed — — — 15 15 Acquisition through business combination 26 163 69 — 1 233 Effects of movements in exchange rates — — — ( 1 ) ( 1 ) At December 31, 2022 875 69 1,644 127 2,715 Note Goodwill Trademark Non-compete agreement Other intangible assets Total (in $ millions) $ $ $ $ $ Accumulated amortization and impairment losses At January 1, 2021 56 — 1,430 58 1,544 Amortization for the year — — 214 22 236 Disposal/Derecognition — — — ( 1 ) ( 1 ) Impairment loss 8 — — — 8 Effects of movements in exchange rates 1 — — * 1 At December 31, 2021 65 — 1,644 79 1,788 Amortization for the year — 5 — 16 21 Impairment loss 3 — — — 3 Effects of movements in exchange rates — — — ( 1 ) ( 1 ) At December 31, 2022 68 5 1,644 94 1,811 Carrying amounts At January 1, 2021 656 — 214 43 913 At December 31, 2021 647 — — 28 675 At December 31, 2022 807 64 — 33 904 * Amount less than $1 million |
Summary Of Amortization Of Intangible Assets | iii) Amortization The amortization of intangible assets is primarily included in ‘Cost of revenue’ (see Note 19(iii)). 2022 2021 2020 (in $ millions) $ $ $ Amortization of intangible assets 21 236 261 |
Summary Of Impairment Loss On Goodwill | Impairment losses on goodwill are included in ‘Other expenses’ (see Note 19(ii)). 2022 2021 2020 (in $ millions) $ $ $ Impairment loss on goodwill 3 8 28 |
Summary Of Impairment Testing For CGUs Containing Goodwill | iv) Impairment testing for CGUs containing goodwill For the purposes of impairment testing, goodwill has been allocated (net of impairment loss recognized) to the Group’s CGUs as follows: Note 2022 2021 (in $ millions) reference $ $ Goodwill allocated Southeast Asia Ride Hailing CGUs 6(iv)(a) 606 606 Malaysia Mart CGU 6(iv)(b) 163 — Indonesia Payment CGU 6(iv)(c) 34 34 Multiple units without significant goodwill 4 7 |
Other investments (Tables)
Other investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Other investments | 2022 2021 (in $ millions) $ $ Non-current investments Time deposits 774 2 Debt investments – at FVTPL 608 621 Debt investments – at FVOCI 26 — Equity investments – at FVTPL 334 618 1,742 1,241 Current investments Time deposits 2,970 3,176 Debt investments – at FVTPL 164 64 3,134 3,240 4,876 4,481 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Trade and other receivables | 2022 2021 (in $ millions) $ $ Current Trade receivables 120 117 Less: Loss allowance (see Note 24) ( 20 ) ( 22 ) 100 95 Loans and advances 207 118 Less: Loss allowance (see Note 24) ( 22 ) ( 11 ) 185 107 Payment cycle receivables 108 71 Less: Loss allowance ( 21 ) ( 18 ) 87 53 372 255 |
Prepayments and other assets (T
Prepayments and other assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Prepayments And Other Assets [Abstract] | |
Summary Of Prepayments And Other Assets | 2022 2021 (in $ millions) $ $ Non-current Deposits 130 127 Loan receivable as part of co-investing arrangement 87 — 217 127 Current Prepayments 70 81 Tax recoverable 46 48 Deposits 54 48 Others 24 23 Less: Loss allowance ( 12 ) ( 15 ) 182 185 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Cash And Cash Equivalents | 2022 2021 (in $ millions) $ $ Short-term deposits 504 594 Cash at banks and on hand 1,448 4,397 Cash and cash equivalents in the statement of financial position 1,952 4,991 |
Capital and reserves (Tables)
Capital and reserves (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary Of Movements In GHI Shares and GHL Ordinary Shares | a) Movements in GHL Class A ordinary shares and Class B ordinary shares (collectively “GHL Ordinary Shares”): (in thousands of shares) Note Class A ordinary shares Class B ordinary shares Grab Holdings Limited 2022 2021 2022 2021 In issue at January 1 – in issue 3,619,098 — 122,882 — Issuance of GHL shares as part of Reverse Recapitalization 11(i)(b) Merger with AGC — 62,491 — — Exchange of GHI ordinary shares and CRPS — 3,152,143 — 122,882 Issued for cash to external investors — 404,009 — — Issued for acquisition of non-controlling interests 77,170 — — — Issued in relation to business combination 8,194 — — — Restricted share units vested 24,227 276 112 — Exercise of share options 2,819 179 7,356 — Conversion of Class B ordinary shares to Class A ordinary shares 4,570 — ( 4,570 ) — In issue at December 31 3,736,078 3,619,098 125,780 122,882 Restricted ordinary shares issued but not fully vested — — ( 21,635 ) ( 32,452 ) In issue at December 31 – fully paid 3,736,078 3,619,098 104,145 90,430 Movements in GHI ordinary shares and GHI convertible redeemable preference shares (collectively “GHI Shares”) (in thousands of shares) Note Ordinary shares* CRPS* Grab Holdings Inc. 2021 2020 2021 2020 In issue on January 1 198,538 161,371 2,871,351 2,576,688 Issued for acquisition of NCI/ in business combination 964 19,332 — 652 Issued for cash — — 98,065 294,011 Restricted share units vested 17 11,810 10,166 — — Exercise of share options 17 61,845 7,669 — — Restricted ordinary shares 17 32,452 — — — Exchange for GHL Class A and Class B ordinary shares as part of Reverse Recapitalization 11(i)(a) ( 305,609 ) — ( 2,969,416 ) — In issue at December 31 – fully paid — 198,538 — 2,871,351 * the number of shares reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share |
Summary of Share Listing Expenses Recognised In Profit or Loss Explanatory | The acquisition of the net assets of AGC on December 1, 2021 did not meet the definition of a business under IFRS and was therefore accounted for as a share-based payment, with the former AGC shareholders receiving one GHL Class A ordinary share for each issued and outstanding ordinary share in AGC. The excess of fair value of GHL shares issued over the fair value of AGC’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred, the summary of which is as follows: (in $ millions) 2021 Fair value of net assets of AGC 398 Less: Fair value of consideration comprising: 62.5 million GHL Class A ordinary shares ( 688 ) Share listing expenses recognized in profit or loss ( 290 ) |
Summary Of Reserves Of The Group | The reserves of the Group comprise the following balances: 2022 2021 (in $ millions) $ $ Share-based payment reserve 516 382 Foreign currency translation reserve ( 67 ) ( 19 ) Other reserve 153 243 602 606 |
Subsidiaries and Non-controll_2
Subsidiaries and Non-controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Significant Subsidiaries within the Group | Details of the significant subsidiaries within the Group are as follows: Name of subsidiaries Country of incorporation/ operation Ownership interests 2022 2021 % % Grab Holdings Inc. Cayman 100 100 Grab Inc. Cayman 100 100 A2G Holdings Inc. Cayman 100 100 |
Summary of Non-Controlling Interests | (in $ millions) $ Carrying amount of non-controlling interests acquired 256 GHL Class A ordinary shares issued as consideration for acquisition of non-controlling interests ( 417 ) Decrease in equity attributable to owners of the Company recognized in accumulated losses ( 161 ) |
Warrant liabilities (Tables)
Warrant liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Change in Carrying Value of the Warrants | 2022 2021 (in $ millions) $ $ As at 1 January 54 — Issuance as part of Reverse Recapitalization — 91 Change in fair value ( 40 ) ( 37 ) As at 31 December 14 54 |
Loans and Borrowings (Tables)
Loans and Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Summary of Loans and Borrowings | (in $ millions) 2022 2021 $ $ Non-current Bank loans 55 55 Term loan 1,041 1,875 Lease liabilities 152 101 1,248 2,031 Current Bank loans 63 83 Term loan 20 39 Lease liabilities 34 22 117 144 |
Summary of terms and conditions of outstanding loans and borrowings | Currency Nominal Year of Carrying $ 2022 Bank loans SGD 1.5 % to 2.1 % 2023 - 2027 59 Bank loans SGD COF * + 1.0 % to 1.1 % 2023 - 2024 5 Bank loans MYR 2.1 % to 4.5 % 2023 - 2027 4 Bank loans MYR COF * - 2.0 % to 1.7 % 2023 - 2027 15 Bank loans IDR 9.9 % to 10.3 % 2023 - 2025 3 Bank loans IDR COF * + 1.8 % to 2.0 % 2023 - 2025 7 Bank loans THB COF * + 7.0 % p.a. 2023 25 Term loan USD LIBOR + 4.5 % 2026 1,061 Lease liabilities Multiple 3.5 % to 10.0 % 2023 - 2037 186 1,365 2021 Bank loans SGD 1.5 % to 2.2 % 2022 - 2026 77 Bank loans SGD COF * + 1 % to 1.1 % 2022 - 2024 11 Bank loans MYR 3.10 % 2022 - 2024 8 Bank loans IDR 2.5 % to 11.5 % 2022 - 2025 15 Bank loans IDR COF * + 1.8 % to 2.0 % 2022 - 2025 12 Bank loans THB COF * + 7.0 % 2022 15 Term loan USD 5.5 % (based on 2026 1,914 Lease liabilities Multiple 1.9 % to 11.0 % 2022 - 2037 123 2,175 |
Summary of reconciliation of movements of liabilities to cash flows from financing activities | ii) Reconciliation of movements of liabilities to cash flows arising from financing activities Liabilities Bank loans Term loan Lease Total (in $ millions) $ $ $ $ Balance at January 1, 2022 138 1,914 123 2,175 Changes from financing cash flows Proceeds from bank loans 109 — — 109 Payment of bank loans ( 161 ) ( 858 ) — ( 1,019 ) Payment of lease liabilities — — ( 35 ) ( 35 ) Interest paid ( 8 ) ( 140 ) ( 12 ) ( 160 ) Total changes from financing cash flows ( 60 ) ( 998 ) ( 47 ) ( 1,105 ) Effect of changes in foreign exchange rates ( 3 ) — 1 ( 2 ) Other changes Liability-related Recognition of lease liabilities — — 72 72 Derecognition of lease liabilities — — ( 13 ) ( 13 ) Secured bank loans for asset acquisition 18 — — 18 Interest expense 7 145 13 165 Acquisition through business combination 18 — 37 55 Total liability-related other changes 43 145 109 297 Balance at December 31, 2022 118 1,061 186 1,365 Liabilities Convertible Bank Term Lease Equity Total (in $ millions) $ $ $ $ $ $ Balance at January 1, 2021 10,767 212 — 39 3,850 14,868 Changes from financing cash flows Proceeds from issuance of CRPS 436 — — — 27 463 Proceeds from bank loans — 60 1,920 — — 1,980 Payment of bank loans — ( 151 ) ( 25 ) — — ( 176 ) Payment of lease liabilities — — — ( 24 ) — ( 24 ) Interest paid — ( 23 ) ( 83 ) ( 2 ) — ( 108 ) Total changes from financing cash flows 436 ( 114 ) 1,812 ( 26 ) 27 2,135 Effect of changes in foreign exchange rates — ( 3 ) ( 1 ) ( 1 ) — ( 5 ) Other changes Liability-related Recognition of lease liabilities — — — 106 — 106 Derecognition of lease liabilities — — — * — * Secured bank loans for asset acquisition — 20 — — — 20 Interest expense 1,570 23 103 5 — 1,701 CRPS converted to GHL ordinary shares ( 12,773 ) — — — ( 3,877 ) ( 16,650 ) Total liability-related other changes ( 11,203 ) 43 103 111 ( 3,877 ) ( 14,823 ) Balance at December 31, 2021 — 138 1,914 123 — 2,175 * Amounts less than $1 million |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of other provisions [line items] | |
Summary of Provisions | 2022 2021 (in $ millions) $ $ Site restoration 24 21 Legal 32 32 56 53 2022 2021 (in $ millions) $ $ Non-current 18 18 Current 38 35 56 53 |
Provision for decommissioning, restoration and rehabilitation costs [member] | |
Disclosure of other provisions [line items] | |
Summary Of Movement In Provision For Site Restoration And Legal Charges | i) Site restoration 2022 2021 (in $ millions) $ $ Balance at January 1 21 6 Provisions made during the year 2 18 Provisions reversed during the year ( 1 ) ( 3 ) Effect of movements in exchange rates 2 — Balance at December 31 24 21 |
Legal proceedings provision [member] | |
Disclosure of other provisions [line items] | |
Summary Of Movement In Provision For Site Restoration And Legal Charges | ii) Legal 2022 2021 (in $ millions) $ $ Balance at January 1 32 32 Provisions made during the year * 1 Provisions reversed during the year * — Effect of movements in exchange rates * ( 1 ) Balance at December 31 32 32 * Amounts less than $1 million |
Trade payables and other liab_2
Trade payables and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Summary of Trade and Other Payables | 15 Trade payables and other liabilities 2022 2021 (in $ millions) $ $ Non-current liabilities Warrant liabilities 14 54 Put options issued to non-controlling interests 93 — Other payables 12 12 Employee defined benefit liability 13 15 132 81 Current liabilities Trade payables 189 167 Accrued operating expenses 370 345 Electronic wallets 263 242 Tax payables 37 29 Deposits 25 20 Contract liabilities 9 9 Others 40 32 933 844 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of components of tax expense (income) | i) Amounts recognized in profit or loss 2022 2021 2020 (in $ millions) $ $ $ Current tax expense Current year 27 6 7 Changes in estimates related to prior years * * * 27 6 7 Deferred tax (credit)/expense Origination and reversal of temporary difference ( 9 ) ( 3 ) ( 5 ) Recognition of previously unrecognized tax losses ( 12 ) — — ( 21 ) ( 3 ) ( 5 ) Income tax expense 6 3 2 |
Summary of reconciliation of effective tax rate | 2022 2021 2020 (in $ millions) $ $ $ Loss before tax ( 1,734 ) ( 3,552 ) ( 2,743 ) Tax at the domestic rates applicable to profits in the countries where the Group operates ( 165 ) ( 238 ) ( 241 ) Non-deductible expenses 13 46 66 Current year losses for which no deferred tax asset is recognized 194 211 196 Benefits from previously unrecognized tax losses ( 36 ) ( 16 ) ( 19 ) Changes in estimates related to prior years * * * Income tax expense 6 3 2 |
Summary of movement in deferred tax balances | iii) Movement in deferred tax balances 2022 2021 (in $ millions) $ $ Deferred tax assets Tax losses carried forward 12 — Deferred revenue and others 8 5 Deferred tax liabilities Property, plant and equipment, intangible assets and others 18 3 Movement in deferred tax liabilities Movement in deferred tax assets (in $ millions) $ $ Balance at January 1, 2021 ( 1 ) — Recognized in profit or loss ( 2 ) 5 Balance at December 31, 2021 ( 3 ) 5 Balance at January 1, 2022 ( 3 ) 5 Recognized in profit or loss 6 15 Acquisition through business combination ( 21 ) — Balance at December 31, 2022 ( 18 ) 20 iv) Unrecognized deferred tax assets Deferred tax assets have not been recognized in respect of the following items: 2022 2021 (in $ millions) $ $ Unutilized tax losses 6,767 6,324 |
Summary tax losses carried forward | v) Tax losses carried forward Out of the $ 6,767 million tax losses, $ 3,546 million expire as below. The remaining tax losses do not expire under the current tax legislation. Expire by $ (in $ millions) 2023 838 2024 1,440 2025 535 2026 432 2027 247 2028 6 2029 25 2030 6 2031 8 2032 9 |
Share-based Payment Arrangeme_2
Share-based Payment Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Reconciliation of Outstanding Share Options | The number and weighted-average exercise prices of Share Options granted under the 2021 GHL Plan since its establishment as a replacement of the GHI 2018 Plan and GHI 2015 Plan were as follows: Number of Share Weighted average Weighted-average ’000 $ (in years) Reverse Recapitalization replacement issuance under the 2021 GHL Plan 53,307 1.97 7.41 Exercised ( 188 ) 0.81 Canceled and forfeited ( 23 ) 1.73 As of December 31, 2021 53,096 1.98 7.81 Issued for acquisition of non-controlling interests 17,910 2.26 Exercised ( 12,846 ) 1.31 Canceled and forfeited ( 3,223 ) 2.15 As of December 31, 2022 54,937 2.22 7.22 Number of Share Weighted average Exercisable as at 31 December ’000 $ 2021 18,010 1.76 2022 32,021 2.10 The Share Options outstanding as at December 31, 2022 had an exercise price in the range of $ 0.28 to $ 4.03 (2021: $ 0.28 to $ 4.03 ). As at December 31, 2022 and December 31, 2021, certain share options exercised were not registered as ordinary shares. The number and weighted-average exercise prices of Share Options under the GHI 2018 Plan and GHI 2015 Plan and as replaced by the 2021 GHL Plan were as follows: Number of Share Weighted average Weighted-average ’000 $ (in years) As of January 1, 2020 115,212 1.06 8.21 Granted 11,736 1.85 Exercised ( 7,308 ) 0.59 Canceled and forfeited ( 5,397 ) 0.99 As of December 31, 2020 114,243 1.17 7.54 Granted 2,848 1.29 Exercised ( 62,220 ) 0.81 Canceled and forfeited ( 1,564 ) 1.04 Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of Reverse Recapitalization ( 53,307 ) 1.97 As of December 31, 2021 — — — * The number and exercise price of share options reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share. Number of Share Weighted average Exercisable as at 31 December ’000 $ 2020 57,634 0.80 The Share Options outstanding as at December 31, 2020 had an exercise price in the range of $ 0.28 to $ 6.07 . As at December 31, 2020, certain Share Options were exercised but have not been registered as ordinary shares. |
Summary of Reconciliation of Outstanding RSUs | The number of unvested RSUs issued under the 2021 GHL Plan were as follows: Number of unvested 2021 GHL Plan ’000 Reverse Recapitalization replacement issuance under the 2021 GHL Plan (see table below for restricted share units granted under the GHI 2018 Plan and GHI 2015 Plan) 66,457 Vested ( 330 ) Canceled and forfeited ( 1,481 ) As of December 31, 2021 64,646 Granted 109,016 Vested ( 24,343 ) Canceled and forfeited ( 17,554 ) As of December 31, 2022 131,765 As at December 31, 2021, certain RSUs were vested but were not registered as ordinary shares. The number of unvested RSUs issued under the GHI 2018 Plan and GHI 2015 Plan and as replaced by the 2021 GHL Plan were as follows: Number of unvested GHI 2018 Plan and GHI 2015 Plan ’000 As of January 1, 2020 36,302 Granted 19,850 Vested ( 10,114 ) Canceled and forfeited ( 9,492 ) As of December 31, 2020 36,546 Granted 47,895 Vested ( 11,783 ) Canceled and forfeited ( 6,201 ) Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of the Reverse Recapitalization ( 66,457 ) As of December 31, 2021 — * The number of RSUs reflect the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share. As at December 31, 2020 certain RSUs were vested but were not registered as ordinary shares. |
Summary of Share-based Payment Expenses | The following table summarizes total share-based payment expense by function for the years ended December 31, 2022 , December 31, 2021 and December 31, 2020: 2022 2021 2020 (in $ millions) $ $ $ Cost of revenue 60 42 10 Sales and marketing 14 11 2 Research and development 124 89 14 General and administrative 214 215 28 Total 412 357 54 |
Summary of Measurement of Fair Values - Share Options | The fair value of the Share Options has been measured using the Black-Scholes option-pricing model based on the value of ordinary shares. A summary of the measurement of the fair values and inputs at grant date is as follow: 2021 2020 Fair value at grant date (weighted average)* $ 8.95 $ 2.46 Share price at grant date (weighted average)* $ 9.97 $ 3.59 Exercise price at grant date (weighted average)* $ 1.29 $ 1.85 Expected volatility (weighted average) 61.57 % 56.46 % Expected terms (years) (weighted average) 6.2 6.0 Expected dividend (weighted average) 0 % 0 % Risk-free interest rate (weighted average) 1.24 % 0.40 % |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Revenue from Contracts with Customers | i) Revenue streams 2022 2021 2020 (in $ millions) $ $ $ Deliveries 663 148 5 Mobility 639 456 438 Financial services 71 27 ( 10 ) Enterprise and new initiatives 60 44 36 1,433 675 469 ii) Geographic information 2022 2021 2020 (in $ millions) $ $ $ Singapore 302 283 246 Malaysia 509 108 91 Indonesia 275 79 ( 61 ) Philippines 125 81 51 Thailand 109 76 57 Rest of Southeast Asia 113 48 85 1,433 675 469 |
Income and Expenses (Tables)
Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Other Operating Income | 2022 2021 2020 (in $ millions) $ $ $ Government grant income 7 8 18 Others 10 4 15 17 12 33 |
Summary of Other Operating Expense | 2022 2021 2020 (in $ millions) $ $ $ Impairment of goodwill (Note 6) 3 8 28 Others 14 3 12 17 11 40 |
Summary of Expenses by Nature | Total cost of revenue, sales and marketing expenses, general and administrative expenses and research and development expenses include expenses of the following nature: 2022 2021 2020 (in $ millions) $ $ $ Staff costs 1,253 1,019 639 Operation costs 864 462 425 Depreciation and amortization 150 345 387 Marketing expenses 206 177 65 Professional fees 104 82 56 |
Net Finance Costs (Tables)
Net Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Net Finance Costs | 2022 2021 2020 (in $ millions) $ $ $ Financial assets measured at amortized cost - interest income (primarily time deposits and cash and cash equivalents) 107 26 42 Net foreign exchange gain — 2 11 Finance income 107 28 53 Financial liabilities measured at amortized cost – interest expense ( 165 ) ( 1,701 ) ( 1,433 ) Impairment loss and change in fair value on investment in associates — — ( 15 ) Net foreign exchange loss ( 1 ) — — Finance costs ( 166 ) ( 1,701 ) ( 1,448 ) Net change in fair value of financial assets and liabilities ( 294 ) 37 ( 42 ) Share listing and associated expenses (Note 11(i)(b)) — ( 353 ) — Net finance costs recognized in profit or loss ( 353 ) ( 1,989 ) ( 1,437 ) |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Earnings Per Share | The following table sets forth the computation of basic and diluted loss per share attributable to ordinary shareholders for the years ended December 31, 2022, 2021 and 2020 which reflects the exchange ratio to receive 1.3032888 GHL Ordinary Shares for each GHI Share exchange ratio as part of the Reverse Recapitalization (in $ millions, except share amounts which are reflected in thousands, and per share amounts): 2022 2021 2020 $ $ $ Loss for the year ( 1,740 ) ( 3,555 ) ( 2,745 ) Less: Loss attributable to non-controlling interests ( 57 ) ( 106 ) ( 137 ) Loss for the year attributable to ordinary shareholders ( 1,683 ) ( 3,449 ) ( 2,608 ) Basic weighted-average ordinary shares outstanding 3,814,492 539,947 181,190 Basic loss per share attributable to ordinary shareholders ( 0.44 ) ( 6.39 ) ( 14.39 ) Diluted loss per share attributable to ordinary shareholders ( 0.44 ) ( 6.39 ) ( 14.39 ) |
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following potentially dilutive outstanding securities were excluded from the computation of diluted loss per ordinary share because their effects would have been antidilutive for the years ended December 31, 2022, 2021 and 2020 (in thousands) or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: 2022 2021 2020 Convertible redeemable preference shares — — 2,871,351 Warrants (Note 15) 26,000 26,000 — Restricted ordinary shares (Note 17) 21,635 32,452 — Share options (Note 17) 54,937 53,096 114,244 RSUs (Note 17) 131,765 64,752 36,546 Shares committed under ESPP (Note 17) 2,890 — — Options to swap the shares in GHL subsidiaries for GHL Class A Ordinary Shares 121,450 47,755 — Total 358,677 224,055 3,022,141 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Compensation to Directors and Executive Officers | i) Transactions with key management personnel Compensation to Directors and executive officers of the Group comprised the following: 2022 2021 2020 (in $ millions) $ $ $ Short-term employee benefits 7 4 2 Post-employment benefits * * * Share-based payment 160 172 24 * Amount less than $1 million |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Right-of-use Assets | Right‑of‑use assets related to leased properties that do not meet the definition of investment property and are presented as property, plant and equipment. Property Motor Total (in $ millions) $ $ $ Balance at January 1, 2021 39 * 39 Depreciation ( 27 ) * ( 27 ) Additions 100 6 106 Derecognition * * * Effects of movement in exchange rates * * * Balance at December 31, 2021 112 6 118 * Amounts less than $1 million Property Motor Total (in $ millions) $ $ $ Balance at January 1, 2022 112 6 118 Depreciation ( 36 ) ( 8 ) ( 44 ) Additions 35 37 72 Acquisition through business combination 35 — 35 Derecognition ( 6 ) — ( 6 ) Effects of movement in exchange rates ( 2 ) ( 2 ) ( 4 ) Balance at December 31, 2022 138 33 171 b) Amounts recognized in profit or loss 2022 2021 (in $ millions) $ $ Interest on lease liabilities 13 5 Income from sub-leasing right-of-use assets, expenses relating to short-term leases and leases of low-value assets, and expenses relating to variable lease payments not included in the measurement of lease liabilities were not material to the Group for the year ended 31 December 2022 and 2021. c) Amounts recognized in statement of cash flows 2022 2021 (in $ millions) $ $ Total cash outflow for leases 35 24 |
Summary of As a Lessor | 2022 2021 (in $ millions) $ $ Not later than one year 84 42 Later than one year and not later than five years 11 3 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | |
Summary of Impairment Losses on Financial Assets | Impairment losses on financial assets recognized in profit or loss were as follows: 2022 2021 2020 (in $ millions) $ $ $ Trade receivables 20 8 33 Loans and advances at amortized cost 31 11 10 Payment cycle receivables 6 5 3 Other receivables 1 3 11 Time deposits — ( 8 ) 8 Cash and cash equivalents — — ( 2 ) 58 19 63 |
Summary of Exposure to Credit Risk for Trade Receivables at Reporting Date | The exposure to credit risk for trade receivables at the reporting date by geographic region was as follows: Net carrying amount 2022 2021 (in $ millions) $ $ Indonesia 28 36 Singapore 20 25 Philippines 12 5 Malaysia 19 13 Thailand 6 9 Other countries 15 7 100 95 |
Summary of Exposure To Credit Risk and ECLs For Trade Receivables | The following table provides information about the exposure to credit risk and ECLs for trade receivables as at December 31: Weighted Gross Loss Credit (in $ millions) % $ $ 2022 Current (not past due) 6.75 83 ( 7 ) No 1 – 30 days past due 9.91 12 ( 1 ) No 31 – 60 days past due 15.52 9 ( 1 ) No 61 – 90 days past due 31.27 3 ( 1 ) No 91 – 120 days past due 42.41 3 ( 1 ) No More than 121 days 93.15 10 ( 9 ) Yes 120 ( 20 ) Weighted Gross Loss Credit (in $ millions) % $ $ 2021 Current (not past due) 2.94 70 ( 2 ) No 1 – 30 days past due 10.08 17 ( 2 ) No 31 – 60 days past due 20.46 10 ( 2 ) No 61 – 90 days past due 50.14 5 ( 2 ) No 91 – 120 days past due 55.76 4 ( 3 ) No More than 121 days 98.54 11 ( 11 ) Yes 117 ( 22 ) |
Summary of Movement in the Allowance | The movement in the allowance for impairment in respect of trade receivables during the year was as follows: 2022 2021 (in $ millions) $ $ At January 1 22 40 Impairment loss recognized 21 8 Amounts written off ( 22 ) ( 24 ) Exchange translation differences ( 1 ) ( 2 ) At December 31 20 22 |
Summary of Exposure to Credit Risk for Loans and Advances | The exposure to credit risk for loans and advances at the reporting date by geographic region was as follows: Carrying amount 2022 2021 (in $ millions) $ $ Malaysia 36 14 Singapore 59 40 Thailand 48 33 Philippines 19 13 Indonesia 13 2 Vietnam 10 5 185 107 |
Summary of Movements in Allowance for Impairment in Respect of Loans and Advances | The movement in the allowance for impairment in respect of loans and advances during the year was as follows: 2022 2021 (in $ millions) $ $ At January 1 11 9 Impairment loss recognized 31 11 Amounts written off ( 19 ) ( 9 ) Exchange translation differences ( 1 ) * At December 31 22 11 *Amount less than $1 million |
Summary of Contractual Maturities of Financial Liabilities | The following are the contractual maturities of financial liabilities considered in the context of the Group’s liquidity risk management strategy. The amounts are gross and undiscounted and include contractual interest payments. Contractual cash flows Carrying Total Less than 1 to 5 years More than (in $ millions) $ $ $ $ $ 2022 Financial liabilities Bank loans 118 ( 127 ) ( 68 ) ( 59 ) — Term loan 1,061 ( 1,382 ) ( 120 ) ( 1,262 ) — Trade payables and other liabilities 913 ( 913 ) ( 794 ) ( 119 ) — Lease liabilities 186 ( 263 ) ( 47 ) ( 107 ) ( 109 ) 2,278 ( 2,685 ) ( 1,029 ) ( 1,547 ) ( 109 ) 2021 Financial liabilities Bank loans 138 ( 150 ) ( 74 ) ( 76 ) — Term loan 1,914 ( 2,422 ) ( 131 ) ( 2,291 ) — Trade payables and other liabilities 780 ( 780 ) ( 770 ) ( 10 ) — Lease liabilities 123 ( 197 ) ( 23 ) ( 58 ) ( 116 ) 2,955 ( 3,549 ) ( 998 ) ( 2,435 ) ( 116 ) *Amount less than $1 million |
Summary of Interest Rate Profile of the Group's Interest-bearing Financial Instruments | The interest rate profile of the Group’s interest-bearing financial instruments as reported to the management of the Group is as follows: Carrying amount 2022 2021 (in $ millions) $ $ Fixed-rate instruments Other investments 3,744 3,178 Cash and cash equivalents 1,952 4,991 Bank loans ( 66 ) ( 100 ) Variable-rate instruments Bank loans ( 52 ) ( 38 ) Term loan ( 1,061 ) ( 1,914 ) |
Summary of Accounting Classification and Fair Values | The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. Carrying amount Fair value Note FVTPL FVOCI Amortized cost Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ (in $ millions) December 31, 2022 Financial assets Debt investments 772 26 — 798 179 567 52 798 Equity investments 7 334 — — 334 188 — 146 334 Time deposits 7 — — 3,744 3,744 — — — — Trade and other receivables 8 — — 372 372 — — — — Other assets 9 3 — 182 185 — 3 — 3 Cash and cash equivalents 10 — — 1,952 1,952 — — — — Total 1,109 26 6,250 7,385 367 570 198 1,135 Financial liabilities Term loan — — ( 1,061 ) ( 1,061 ) — — — — Warrant liabilities 15 ( 14 ) — — ( 14 ) ( 14 ) — — ( 14 ) Bank loans 13 — — ( 118 ) ( 118 ) — — — — Trade payables and other liabilities 15 ( 6 ) ( 93 ) ( 800 ) ( 899 ) — — ( 99 ) ( 99 ) Total ( 20 ) ( 93 ) ( 1,979 ) ( 2,092 ) ( 14 ) — ( 99 ) ( 113 ) Carrying amount Fair value Note FVTPL FVOCI Amortized cost Total Level 1 Level 2 Level 3 Total $ $ $ $ $ $ $ $ (in $ millions) December 31, 2021 Financial assets Debt investments 685 — — 685 594 91 — 685 Equity investments 7 618 — — 618 457 — 161 618 Time deposits 7 — — 3,178 3,178 — — — — Trade and other receivables 8 — — 255 255 — — — — Other assets 9 — — 172 172 — — — — Cash and cash equivalents 10 — — 4,991 4,991 — — — — Total 1,303 — 8,596 9,899 1,051 91 161 1,303 Financial liabilities Term loan — — ( 1,914 ) ( 1,914 ) — — — — Warrant liabilities 15 ( 54 ) — — ( 54 ) ( 21 ) — ( 33 ) ( 54 ) Bank loans 13 — — ( 138 ) ( 138 ) — — — — Trade payables and other liabilities 15 ( 9 ) — ( 771 ) ( 780 ) — — ( 9 ) ( 9 ) Total ( 63 ) — ( 2,823 ) ( 2,886 ) ( 21 ) — ( 42 ) ( 63 ) |
Summary of Reconciliation from the Opening Balances to the Ending Balances | The following table shows a reconciliation from the opening balances to the ending balances for Level 3 fair values: Equity and debt investments Other liabilities Total $ $ $ (in $ millions) At January 1, 2021 143 — 143 Net change in fair value (unrealized) 17 18 35 Net purchases/ (issuances) 1 ( 60 ) ( 59 ) At December 31, 2021 161 ( 42 ) 119 At January 1, 2022 161 ( 42 ) 119 Net change in fair value (unrealized) ( 43 ) 3 ( 40 ) Net purchases/ (issuances) 80 ( 93 ) ( 13 ) Transfer between Level 3 and Level 1 — 33 33 At December 31, 2022 198 ( 99 ) 99 |
Loans to consumers [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Summary of Exposure To Credit Risk and ECLs For Trade Receivables | The following table provides information about the exposure to credit risk and ECLs for loans and advances to customers. Weighted Gross Loss Credit-impaired (in $ millions) % $ $ 2022 Current (not past due) 4.49 172 ( 8 ) No 1 – 30 days past due 14.61 17 ( 2 ) No 31 – 60 days past due 39.50 6 ( 2 ) No 61 – 90 days past due 66.72 4 ( 3 ) No 91 – 120 days past due 92.02 4 ( 3 ) Yes More than 121 days 91.11 4 ( 4 ) Yes 207 ( 22 ) Weighted Gross Loss Credit-impaired (in $ millions) % $ $ 2021 Current (not past due) 5.37 97 ( 5 ) No 1 – 30 days past due 12.84 16 ( 2 ) No 31 – 60 days past due 46.53 2 ( 1 ) No 61 – 90 days past due 56.23 1 ( 1 ) No 91 – 120 days past due 87.43 1 ( 1 ) Yes More than 121 days 91.12 1 ( 1 ) Yes 118 ( 11 ) |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Information about Each Reportable Segment and Reconciliation | Information about each reportable segment and reconciliation to amounts reported in consolidated financial statements is set out below: 2022 2021 2020 (in $ millions) $ $ $ Segment Adjusted EBITDA Deliveries ( 35 ) ( 130 ) ( 211 ) Mobility 494 345 307 Financial services ( 415 ) ( 349 ) ( 331 ) Enterprise and new initiatives 21 9 9 Total reportable Segment Adjusted EBITDA 65 ( 125 ) ( 226 ) Regional corporate costs ( 858 ) ( 717 ) ( 554 ) Net interest income (expenses) ( 57 ) ( 1,675 ) ( 1,391 ) Other income (expenses) 7 12 10 Income tax expenses ( 6 ) ( 3 ) ( 2 ) Depreciation and amortization ( 150 ) ( 345 ) ( 387 ) Share-based compensation expenses ( 412 ) ( 357 ) ( 54 ) Unrealized foreign exchange loss ( 2 ) ( 1 ) * Impairment losses on goodwill and non-financial assets ( 5 ) ( 15 ) ( 43 ) Fair value changes on investments ( 294 ) 37 ( 57 ) Restructuring costs ( 8 ) ( 1 ) ( 2 ) Legal, tax and regulatory settlement provisions ( 20 ) ( 12 ) ( 39 ) Share listing and associated expenses — ( 353 ) — Loss for the year ( 1,740 ) ( 3,555 ) ( 2,745 ) * Amount less than $1 million |
Business combinations (Tables)
Business combinations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination | |
Schedule of acquisition date fair value of each major class of consideration | The following table summarizes the acquisition date fair value of each major class of consideration: (in $ millions) $ Cash 181 Equity instruments ( 8,173,375 ordinary shares) measured based on the listed share price of the Company at January 31, 2022 of $ 5.66 per share 46 227 |
Schedule of assets acquired and liabilities | The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the date of acquisition. (in $ millions) $ Property, plant and equipment 32 Right-of-use assets 35 Intangible assets 69 Merchandise inventories 50 Trade and other receivables 10 Cash and cash equivalents 16 Loans and borrowings ( 18 ) Lease liabilities ( 37 ) Deferred tax liabilities ( 21 ) Trade payables and other liabilities ( 51 ) Identifiable net assets acquired 85 Less: Non-controlling interest proportionate share of identifiable net assets ( 21 ) Goodwill on acquisition (described below) 163 Purchase consideration 227 |
Reverse Recapitalization (Table
Reverse Recapitalization (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Share Listing Expenses Recognised In Profit or Loss | The acquisition of the net assets of AGC on December 1, 2021 did not meet the definition of a business under IFRS and was therefore accounted for as a share-based payment, with the former AGC shareholders receiving one GHL Class A ordinary share for each issued and outstanding ordinary share in AGC. The excess of fair value of GHL shares issued over the fair value of AGC’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred, the summary of which is as follows: (in $ millions) 2021 Fair value of net assets of AGC 398 Less: Fair value of consideration comprising: 62.5 million GHL Class A ordinary shares ( 688 ) Share listing expenses recognized in profit or loss ( 290 ) |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Summary of Significant Contractual Obligations and Commitments | The following table summarizes significant contractual obligations and commitments as of December 31, 2022: Payments due by period Total Less than 1 to 5 (in $ millions) $ $ $ Non-cancellable purchase obligations 729 505 224 |
Going concern - Additional Info
Going concern - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Texts Block [Abstract] | ||||
Equity | $ 6,657 | $ 8,019 | $ (6,294) | $ (4,224) |
Net Loss After Tax | 1,740 | |||
Deposits with banks and financial institutions | $ 5,696 |
Basis of preparation (Additiona
Basis of preparation (Additional Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Top of range | |||
Disclosure of changes in accounting estimates [line items] | |||
Cash and cash equivalents | $ 4,991 | $ 2,173 | $ 1,511 |
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 2,871 | 647 | |
Bottom of range | |||
Disclosure of changes in accounting estimates [line items] | |||
Cash and cash equivalents | 4,838 | 2,004 | $ 1,372 |
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | $ 2,855 | $ 617 |
Significant accounting polici_4
Significant accounting policies - Summary Of Estimated Useful Lives For Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Computers [Member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 2 years |
Computers [Member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 3 years |
Building and renovation [Member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 3 years |
Building and renovation [Member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 5 years |
Motor vehicles [Member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 5 years |
Motor vehicles [Member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 7 years |
Office and other equipment [Member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 4 years |
Office and other equipment [Member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Property Plant and Equipment [Line Items] | |
Useful lives for the current and comparative years | 5 years |
Significant accounting polici_5
Significant accounting policies - Summary Of Estimated Useful Lives For Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Trademark [Member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Intangible Assets [Line Items] | |
Useful lives for the current and comparative years | 13 years |
Non-compete agreement [Member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Intangible Assets [Line Items] | |
Useful lives for the current and comparative years | 4 years |
Other intangible assets [Member] | |
Disclosure Of Estimated Useful Lives For Current And Comparative Years Of Intangible Assets [Line Items] | |
Useful lives for the current and comparative years | 3 years |
Significant accounting polici_6
Significant accounting policies - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | |
Voting power | 20% |
Property, Plant and Equipment -
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Right of use assets | $ 171 | $ 118 | $ 39 |
Cash payment on acquisition of property, plant and equipment | $ 58 | 73 | 22 |
Pre-tax discount rate | 15% | ||
Depreciation of property, plant and equipment | $ 129 | $ 109 | $ 126 |
Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 6.60% | 6.90% | |
Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 12% | 12% | |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment acquired | 148 | $ 199 | |
Motor Vehicles Held For Leasing [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss | 6 | $ 15 | |
Impairment (reversal) loss of PPE | $ (3) | ||
Pre-tax discount rate | 18.64% | ||
Purchase of property plant and equipment through lease liabilities | $ 36 | $ 0 | |
Motor Vehicles Held For Leasing [Member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 12.20% | 11.70% | |
Motor Vehicles Held For Leasing [Member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 18.80% | 25.10% | |
Motor Vehicles Held For Leasing [Member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property plant and equipment acquired | 65 | $ 41 | |
Cash payment on acquisition of property, plant and equipment | 11 | 21 | |
Secured Bank Loan Financing [Member] | Motor Vehicles Held For Leasing [Member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Purchase of property plant and equipment through secured bank loan financing | 18 | 20 | |
Leased Properties And Motor Vehicles [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Right of use assets | $ 171 | $ 118 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary Of Detailed Information About Property, Plant And Equipment (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | $ 441 | $ 384 | |
Depreciation for the year | 129 | 109 | $ 126 |
Ending balance | 492 | 441 | 384 |
Computers [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 15 | 15 | |
Ending balance | 24 | 15 | 15 |
Buildings and renovation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 161 | 57 | |
Ending balance | 197 | 161 | 57 |
Motor vehicles held for leasing [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 247 | 294 | |
Impairment (reversal) loss of PPE | 6 | 15 | |
Impairment (reversal) loss of PPE | (3) | ||
Ending balance | 242 | 247 | 294 |
Office and other equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 18 | 18 | |
Ending balance | 29 | 18 | 18 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 799 | 701 | |
Additions | 148 | 199 | |
Acquisition through business combination | 67 | ||
Write-offs/disposal | (60) | (92) | |
Effects of movements in exchange rates | (20) | (9) | |
Ending balance | 934 | 799 | 701 |
Gross carrying amount [member] | Computers [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 62 | 50 | |
Additions | 22 | 16 | |
Acquisition through business combination | 1 | ||
Write-offs/disposal | (1) | (3) | |
Effects of movements in exchange rates | (3) | (1) | |
Ending balance | 81 | 62 | 50 |
Gross carrying amount [member] | Buildings and renovation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 228 | 129 | |
Additions | 50 | 136 | |
Acquisition through business combination | 54 | ||
Write-offs/disposal | (33) | (39) | |
Effects of movements in exchange rates | (8) | 2 | |
Ending balance | 291 | 228 | 129 |
Gross carrying amount [member] | Motor vehicles held for leasing [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 470 | 486 | |
Additions | 65 | 41 | |
Acquisition through business combination | 1 | ||
Write-offs/disposal | (26) | (48) | |
Effects of movements in exchange rates | (6) | (9) | |
Ending balance | 504 | 470 | 486 |
Gross carrying amount [member] | Office and other equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 39 | 36 | |
Additions | 11 | 6 | |
Acquisition through business combination | 11 | ||
Write-offs/disposal | 0 | (2) | |
Effects of movements in exchange rates | (3) | (1) | |
Ending balance | 58 | 39 | 36 |
Accumulated Amortisation And Impairment Losses [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 358 | 317 | |
Depreciation for the year | 129 | 109 | |
Write-offs/disposal | (38) | (68) | |
Effects of movements in exchange rates | (10) | (7) | |
Impairment (reversal) loss of PPE | 7 | ||
Impairment (reversal) loss of PPE | 3 | ||
Ending balance | 442 | 358 | 317 |
Accumulated Amortisation And Impairment Losses [Member] | Computers [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 47 | 35 | |
Depreciation for the year | 13 | 16 | |
Write-offs/disposal | (1) | (3) | |
Effects of movements in exchange rates | (2) | (1) | |
Impairment (reversal) loss of PPE | 0 | ||
Impairment (reversal) loss of PPE | 0 | ||
Ending balance | 57 | 47 | 35 |
Accumulated Amortisation And Impairment Losses [Member] | Buildings and renovation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 67 | 72 | |
Depreciation for the year | 48 | 34 | |
Write-offs/disposal | (23) | (39) | |
Effects of movements in exchange rates | (4) | (1) | |
Impairment (reversal) loss of PPE | 1 | ||
Impairment (reversal) loss of PPE | 6 | ||
Ending balance | 94 | 67 | 72 |
Accumulated Amortisation And Impairment Losses [Member] | Motor vehicles held for leasing [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 223 | 192 | |
Depreciation for the year | 58 | 53 | |
Write-offs/disposal | (14) | (24) | |
Effects of movements in exchange rates | (2) | (4) | |
Impairment (reversal) loss of PPE | 6 | ||
Impairment (reversal) loss of PPE | (3) | ||
Ending balance | 262 | 223 | 192 |
Accumulated Amortisation And Impairment Losses [Member] | Office and other equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 21 | 18 | |
Depreciation for the year | 10 | 6 | |
Write-offs/disposal | 0 | (2) | |
Effects of movements in exchange rates | (2) | (1) | |
Impairment (reversal) loss of PPE | 0 | ||
Impairment (reversal) loss of PPE | 0 | ||
Ending balance | $ 29 | $ 21 | $ 18 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Summary Of Detailed Information About Key Assumptions Used In Estimate Of Value (Detail) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information About Key Assumptions Used In Estimate Of Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 15% | ||
Budgeted Rental Rate Growth Used In Current Estimate Of Value In Use | 6.70% | ||
Utilization Rate Used In Current Estimate Of Value In Use | 82% | ||
Bottom of range [member] | |||
Disclosure Of Detailed Information About Key Assumptions Used In Estimate Of Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 6.60% | 6.90% | |
Budgeted Rental Rate Growth Used In Current Estimate Of Value In Use | 0% | 0% | |
Utilization Rate Used In Current Estimate Of Value In Use | 46% | 45% | |
Top of range [member] | |||
Disclosure Of Detailed Information About Key Assumptions Used In Estimate Of Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 12% | 12% | |
Budgeted Rental Rate Growth Used In Current Estimate Of Value In Use | 1.80% | 4% | |
Utilization Rate Used In Current Estimate Of Value In Use | 94% | 95% |
Intangible assets and goodwil_2
Intangible assets and goodwill - Summary Of Reconciliation Of Carrying Amount (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | $ 675 | $ 913 | |
Amortization for the year | 21 | 236 | $ 261 |
Ending balance | 904 | 675 | 913 |
Accumulated Depreciation, Amortisation and Impairment [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,788 | 1,544 | |
Amortization for the year | 21 | 236 | |
Disposals/Write-off/Derecognition | (1) | ||
Effects of movements in exchange rates | (1) | 1 | |
Impairment loss on goodwill | 3 | 8 | |
Ending balance | 1,811 | 1,788 | 1,544 |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 2,463 | 2,457 | |
Additions | 5 | 3 | |
Internally developed | 15 | 9 | |
Acquisition through business combination | 233 | ||
Disposals/Write-off/Derecognition | (1) | ||
Effects of movements in exchange rates | (1) | (5) | |
Ending balance | 2,715 | 2,463 | 2,457 |
Trademark [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 0 | 0 | |
Ending balance | 64 | 0 | 0 |
Trademark [Member] | Accumulated Depreciation, Amortisation and Impairment [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 0 | 0 | |
Amortization for the year | 5 | 0 | |
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 0 | |
Impairment loss on goodwill | 0 | 0 | |
Ending balance | 5 | 0 | 0 |
Trademark [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 0 | 0 | |
Additions | 0 | 0 | |
Internally developed | 0 | 0 | |
Acquisition through business combination | 69 | ||
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 0 | |
Ending balance | 69 | 0 | 0 |
Goodwill [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 647 | 656 | |
Impairment loss on goodwill | 3 | 8 | 28 |
Ending balance | 807 | 647 | 656 |
Goodwill [Member] | Accumulated Depreciation, Amortisation and Impairment [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 65 | 56 | |
Amortization for the year | 0 | 0 | |
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 1 | |
Impairment loss on goodwill | 3 | 8 | |
Ending balance | 68 | 65 | 56 |
Goodwill [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 712 | 712 | |
Additions | 0 | 0 | |
Internally developed | 0 | 0 | |
Acquisition through business combination | 163 | ||
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 0 | |
Ending balance | 875 | 712 | 712 |
Non Compete Agreement [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 0 | 214 | |
Ending balance | 0 | 0 | 214 |
Non Compete Agreement [Member] | Accumulated Depreciation, Amortisation and Impairment [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,644 | 1,430 | |
Amortization for the year | 0 | 214 | |
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 0 | |
Impairment loss on goodwill | 0 | 0 | |
Ending balance | 1,644 | 1,644 | 1,430 |
Non Compete Agreement [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,644 | 1,644 | |
Additions | 0 | 0 | |
Internally developed | 0 | 0 | |
Acquisition through business combination | 0 | ||
Disposals/Write-off/Derecognition | 0 | ||
Effects of movements in exchange rates | 0 | 0 | |
Ending balance | 1,644 | 1,644 | 1,644 |
Other intangible assets [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 28 | 43 | |
Ending balance | 33 | 28 | 43 |
Other intangible assets [Member] | Accumulated Depreciation, Amortisation and Impairment [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 79 | 58 | |
Amortization for the year | 16 | 22 | |
Disposals/Write-off/Derecognition | (1) | ||
Effects of movements in exchange rates | (1) | ||
Impairment loss on goodwill | 0 | 0 | |
Ending balance | 94 | 79 | 58 |
Other intangible assets [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 107 | 101 | |
Additions | 5 | 3 | |
Internally developed | 15 | 9 | |
Acquisition through business combination | 1 | ||
Disposals/Write-off/Derecognition | (1) | ||
Effects of movements in exchange rates | (1) | (5) | |
Ending balance | $ 127 | $ 107 | $ 101 |
Intangible assets and goodwil_3
Intangible assets and goodwill - Summary Of Detailed Information About Amortization Of Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Detailed Information About Amortisation Of Intangible Assets [Line Items] | |||
Amortization of intangible assets | $ 21 | $ 236 | $ 261 |
Intangible assets and goodwil_4
Intangible assets and goodwill - Summary Of Detailed Information About Impairment Loss Of Goodwill (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Member] | |||
Detailed Information About Impairment Loss Of Goodwill [Line Items] | |||
Impairment loss on goodwill | $ 3 | $ 8 | $ 28 |
Intangible assets and goodwil_5
Intangible assets and goodwill - Summary Of Impairment Testing For CGUs Containing Goodwill (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Malaysia Mart CGU [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | $ 163 | $ 0 |
Multiple units without significant goodwill [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 4 | 7 |
Indonesia Payment CGU [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 34 | 34 |
Southeast Asia ride hailing CGUs [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | $ 606 | $ 606 |
Intangible assets and goodwil_6
Intangible assets and goodwill - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Software development costs captitalized | $ 15 | $ 9 | |
Impairment loss | 3 | 8 | $ 28 |
Malaysia Mart CGU [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | 163 | 0 | |
Indonesia Payment CGU [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | $ 34 | 34 | |
Information whether recoverable amount of asset is fair value less costs of disposal or value in use | The recoverable amount of the Indonesia Payment CGU was based on fair value less cost of disposal. To arrive at the fair value less cost of disposal, the Group applied a revenue based multiple of 4.40 derived from comparable companies to the revenue of its Indonesia Payment CGUs (2021: revenue based multiple of 8.50 derived from comparable companies to the revenue of its Indonesia Payment CGUs ). | ||
Impairment loss | $ 0 | $ 0 | |
Indonesia Payment CGU [Member] | Revenue multiple, measurement input [Member] | Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Significant unobservable input, assets | 4.40 | 8.50 | |
Southeast Asia ride hailing CGUs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | $ 606 | $ 606 | |
Information whether recoverable amount of asset is fair value less costs of disposal or value in use | The recoverable amount of the Ride Hailing CGUs was based on fair value less cost of disposal. To arrive at the fair value less cost of disposal, the Group applied a revenue based multiple of 1.35 from comparable companies to the amount of revenue plus consumer incentives of each Ride Hailing CGUs (2021: revenue based multiple of 5.35 derived from comparable companies to the amount of revenue plus consumer incentives of each Ride Hailing CGUs). | ||
Impairment loss | $ 0 | $ 0 | |
Southeast Asia ride hailing CGUs [Member] | Revenue multiple, measurement input [Member] | Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Significant unobservable input, assets | 1.35 | 5.35 | |
Malaysia Mart Cash Generating Units [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | $ 163 | ||
Information whether recoverable amount of asset is fair value less costs of disposal or value in use | The recoverable amount of the Malaysia Mart CGUs was based on fair value less cost of disposal, which was determined based on the consideration paid in 2022 to acquire the operator of stores offering daily necessities in Malaysia (see Note 26). | ||
Impairment loss | $ 0 |
Other investments - Summary of
Other investments - Summary of Other investments (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | ||
Non-current investments | $ 1,742 | $ 1,241 |
Current investments | 3,134 | 3,240 |
Other investments | 4,876 | 4,481 |
Time deposits [member] | ||
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | ||
Non-current investments | 774 | 2 |
Current investments | 2,970 | 3,176 |
Debt investments - at FVOCI [Member] | ||
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | ||
Non-current investments | 26 | 0 |
Debt investments – at FVTPL [Member] | ||
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | ||
Non-current investments | 608 | 621 |
Current investments | 164 | 64 |
Equity investments – at FVTPL [Member] | ||
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | ||
Non-current investments | $ 334 | $ 618 |
Other investments - Additional
Other investments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Detailed Information About Other Investment Explanatory [Line Items] | |
Maturity Term Of Time Deposit Classed As Other Investment | more than three months |
Trade and other receivables - S
Trade and other receivables - Summary of Trade and other receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current | ||
Trade receivables | $ 120 | $ 117 |
Less: Loss allowance | (20) | (22) |
Trade receivables, net | 100 | 95 |
Loans and advances | 207 | 118 |
Less: Loss allowance | (22) | (11) |
Loans and advances, net | 185 | 107 |
Payment cycle receivables | 108 | 71 |
Less: Loss allowance | (21) | (18) |
Payment cycle receivables, net | 87 | 53 |
Trade and other current receivables | $ 372 | $ 255 |
Trade and other receivables - A
Trade and other receivables - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Texts Block [Abstract] | |
Trade receivables settlement period | 30 days |
Loans and advances settlement period | 12 months |
Payment cycle receivables settlement period | 4 days |
Prepayments and other assets -
Prepayments and other assets - Summary Of Prepayments And Other Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current | ||
Deposits | $ 130 | $ 127 |
Loan receivable as part of co-investing arrangement | 87 | 0 |
Non-current prepayments and other current assets | 217 | 127 |
Current | ||
Prepayments | 70 | 81 |
Tax recoverable | 46 | 48 |
Deposits | 54 | 48 |
Others | 24 | 23 |
Less: Loss allowance | (12) | (15) |
Current prepayments and other current assets | $ 182 | $ 185 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Texts Block [Abstract] | ||
Maturity Term Of Term Deposits | 3 months | |
Restricted cash and cash equivalents | $ 174 | $ 153 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary Of Cash And Cash Equivalents (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Statements [Line Items] | ||||
Short-term deposits | $ 504 | $ 594 | ||
Cash at banks and on hand | 1,448 | 4,397 | ||
Cash and cash equivalents in the statement of financial position | 1,952 | 4,991 | ||
Cash and cash equivalents in the statement of cash flows | $ 1,952 | $ 4,991 | $ 2,173 | $ 1,511 |
Capital and reserves - Summary
Capital and reserves - Summary Of Movements In GHI and GHL (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Ordinary shares | |||
Disclosure of classes of share capital [line items] | |||
In issue on January 1 | 198,538 | 161,371 | |
Issued for acquisition of NCI/ in business combination | 964 | 19,332 | |
Issued for cash | 0 | 0 | |
Restricted share units vested | 11,810 | 10,166 | |
Exchange of GHI ordinary shares and CRPS | (305,609) | 0 | |
In issue at December 31 | 198,538 | 161,371 | |
Exercise of share options | 61,845 | 7,669 | |
Restricted ordinary shares | 32,452 | 0 | |
In issue at December 31 - fully paid | 0 | 198,538 | |
Class A Ordinary Shares | |||
Disclosure of classes of share capital [line items] | |||
In issue on January 1 | 3,619,098 | 0 | |
Issued for acquisition of NCI | 77,170 | 0 | |
Issued in relation to business combination | 8,194 | 0 | |
Restricted share units vested | 24,227 | 276 | |
Restricted ordinary shares issued but not fully vested | 0 | 0 | |
Conversion of Class B ordinary shares to Class A ordinary shares | 4,570 | 0 | |
Merger with AGC | 0 | 62,491 | |
Exchange of GHI ordinary shares and CRPS | 0 | 3,152,143 | |
Issued for cash to external investors | 0 | 404,009 | |
In issue at December 31 | 3,736,078 | 3,619,098 | 0 |
Exercise of share options | 2,819 | 179 | |
In issue at December 31 - fully paid | 3,736,078 | 3,619,098 | |
Class B Ordinary Shares | |||
Disclosure of classes of share capital [line items] | |||
In issue on January 1 | 122,882 | 0 | |
Issued for acquisition of NCI | 0 | 0 | |
Issued in relation to business combination | 0 | 0 | |
Restricted share units vested | 112 | 0 | |
Restricted ordinary shares issued but not fully vested | (21,635) | (32,452) | |
Conversion of Class B ordinary shares to Class A ordinary shares | (4,570) | 0 | |
Merger with AGC | 0 | 0 | |
Exchange of GHI ordinary shares and CRPS | 0 | 122,882 | |
Issued for cash to external investors | 0 | 0 | |
In issue at December 31 | 125,780 | 122,882 | 0 |
Exercise of share options | 7,356 | 0 | |
In issue at December 31 - fully paid | 104,145 | 90,430 | |
Convertible Redeemable Preference Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
In issue on January 1 | 2,871,351 | 2,576,688 | |
Issued for acquisition of NCI/ in business combination | 0 | 652 | |
Issued for cash | 98,065 | 294,011 | |
Restricted share units vested | 0 | 0 | |
Exchange of GHI ordinary shares and CRPS | (2,969,416) | 0 | |
In issue at December 31 | 2,871,351 | 2,576,688 | |
Exercise of share options | 0 | 0 | |
Restricted ordinary shares | 0 | 0 | |
In issue at December 31 - fully paid | 0 | 2,871,351 |
Capital and reserves - Summar_2
Capital and reserves - Summary Of Reserves Of The Group Comprise (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of reserves within equity [line items] | |||
Share-based payment reserve | $ 516 | $ 382 | |
Foreign currency translation reserve | (67) | (19) | |
Dividend Payables | 0 | 0 | $ 0 |
Other reserve | 153 | 243 | |
Reserves | $ 602 | $ 606 |
Capital and reserves - Summar_3
Capital and reserves - Summary of Share Listing Expenses Recognised In Profit or Loss (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2022 | |
Disclosure of Reverse Recapitalization on Identifiable Net Assets Acquired [Line Items] | ||
Cash and cash equivalents | $ 16 | |
Payables | $ (51) | |
Service for NASDAQ listing and associated expenses being recognised in the profit or loss | $ 290 | |
Business combinations [member] | ||
Disclosure of Reverse Recapitalization on Identifiable Net Assets Acquired [Line Items] | ||
Fair value of net assets of AGC | 398 | |
GHL Class A ordinary shares [Member] | ||
Disclosure of Reverse Recapitalization on Identifiable Net Assets Acquired [Line Items] | ||
Fair value of consideration comprising 62.5 million GHL Class A ordinary shares | $ (688) |
Capital and reserves - Summar_4
Capital and reserves - Summary of Share Listing Expenses Recognised In Profit or Loss (Parenthetical) (Detail) shares in Millions | Dec. 31, 2021 shares |
GHL Class A Ordinary Shares [Member] | |
Disclosure of Reverse Recapitalization on Identifiable Net Assets Acquired [Line Items] | |
Number of instruments or interests issued or issuable | 62.5 |
Capital and reserves - Addition
Capital and reserves - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reserves within equity [line items] | ||
Professional Services Expenditure | $ 63 | |
Service for NASDAQ listing and associated expenses being recognised in the profit or loss | $ 290 | |
GHI Ordinary Shares | ||
Disclosure of reserves within equity [line items] | ||
Par value per share | $ 0.000001 | |
Ordinary shares, voting rights | one | |
Warrants [Member] | ||
Disclosure of reserves within equity [line items] | ||
Issuance of shares, consideration received | $ 4,040 | |
Issuance Of Warrants As Part Of Reverse Recapitalization | 4 | |
Warrants [Member] | AGC [Member] | ||
Disclosure of reserves within equity [line items] | ||
Issuance Of Warrants As Part Of Reverse Recapitalization | 22 | |
GHI Convertible Redeemable Preference Shares | ||
Disclosure of reserves within equity [line items] | ||
Par value per share | $ 0.000001 | |
Preference shares, dividend rate percentage | 8% | |
Preference shares, voting rights | one | |
Preference shares, interest rate | 6% | |
GHL Ordinary Shares [Member] | ||
Disclosure of reserves within equity [line items] | ||
Conversion Ratio Common Stock | 1.3032888 | |
GHL Class A Ordinary Shares [Member] | ||
Disclosure of reserves within equity [line items] | ||
Par value per share | $ 0.000001 | |
Ordinary shares, voting rights | one | |
Total number of shares issued | 404 | |
GHL Class B Ordinary Shares [Member] | ||
Disclosure of reserves within equity [line items] | ||
Par value per share | $ 0.000001 | |
Ordinary shares, voting rights | forty-five |
Subsidiaries and Non-controll_3
Subsidiaries and Non-controlling Interests - Summary of Significant Subsidiaries within the Group (Detail) - CAYMAN ISLANDS | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Grab Holdings Inc [Member] | ||
Disclosure of subsidiaries [line items] | ||
Name of subsidiaries | Grab Holdings Inc. | |
Country of incorporation/ operation/ Principal place of business | Cayman | |
Ownership interests held by the Group | 100% | 100% |
Grab Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Name of subsidiaries | Grab Inc. | |
Country of incorporation/ operation/ Principal place of business | Cayman | |
Ownership interests held by the Group | 100% | 100% |
A2G Holdings Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Name of subsidiaries | A2G Holdings Inc. | |
Country of incorporation/ operation/ Principal place of business | Cayman | |
Ownership interests held by the Group | 100% | 100% |
Subsidiaries and Non-controll_4
Subsidiaries and Non-controlling Interests - Additional Information (Detail) | Dec. 31, 2022 |
PT Bumi Cakrawala Perkasa [Member] | |
Detailed Information About Non Controlling Interests [Line Items] | |
Total Percentage of voting interests acquired | 100% |
Subsidiaries and Non-controll_5
Subsidiaries and Non-controlling Interests - Summary of Detailed Information About Non Controlling Interests (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Detailed Information About Non Controlling Interests [Line Items] | ||
Carrying amount of non-controlling interests acquired | $ 54 | $ 286 |
PT Bumi Cakrawala Perkasa [Member] | ||
Detailed Information About Non Controlling Interests [Line Items] | ||
Carrying amount of non-controlling interests acquired | 256 | |
GHL Class A ordinary shares issued as consideration for acquisition of non-controlling interests | (417) | |
Decrease in equity attributable to owners of the Company resulted in an increase in accumulated losses | $ (161) |
Loans and Borrowings - Addition
Loans and Borrowings - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information Of Loans And Borrowings [Line Items] | |||
Property, plant and equipment | $ 492 | $ 441 | $ 384 |
Repayment and repurchase of term loan | $ 858 | ||
Borrowings, maturity | January 2026 | ||
Percentage of principal payment to be paid per quarter | 0.25% | ||
Secured bank loans received current | $ 63 | 83 | |
Motor Vehicles Held For Leasing [Member] | |||
Disclosure Of Detailed Information Of Loans And Borrowings [Line Items] | |||
Property, plant and equipment | $ 242 | $ 247 | $ 294 |
Loans and Borrowings - Summary
Loans and Borrowings - Summary of Terms and Conditions of Outstanding Loans and Borrowings (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Year of maturity | January 2026 | |
Loans and Borrowings | $ 1,365 | $ 2,175 |
Bank loan 1 | SGD | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | SGD | SGD |
Bank loans | $ 59 | $ 77 |
Bank loan 1 | SGD | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 1.50% | 1.50% |
Year of maturity | 2023 | 2022 |
Bank loan 1 | SGD | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 2.10% | 2.20% |
Year of maturity | 2027 | 2026 |
Bank loan 2 | SGD | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | SGD | SGD |
Nominal interest rate basis | COF | COF |
Bank loans | $ 5 | $ 11 |
Bank loan 2 | SGD | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 1% | 1% |
Year of maturity | 2023 | 2022 |
Bank loan 2 | SGD | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 1.10% | 1.10% |
Year of maturity | 2024 | 2024 |
Bank loan 3 | MYR | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | MYR | MYR |
Nominal interest rate | 3.10% | |
Bank loans | $ 4 | $ 8 |
Bank loan 3 | MYR | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 2.10% | |
Year of maturity | 2023 | 2022 |
Bank loan 3 | MYR | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 4.50% | |
Year of maturity | 2027 | 2024 |
Bank loan 4 | MYR | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | MYR | |
Nominal interest rate basis | COF | |
Bank loans | $ 15 | |
Bank loan 4 | MYR | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 2% | |
Year of maturity | 2023 | |
Bank loan 4 | MYR | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 1.70% | |
Year of maturity | 2027 | |
Bank loan 4 | IDR | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | IDR | |
Bank loans | $ 15 | |
Bank loan 4 | IDR | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 2.50% | |
Year of maturity | 2022 | |
Bank loan 4 | IDR | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 11.50% | |
Year of maturity | 2025 | |
Bank loan 5 | IDR | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | IDR | IDR |
Nominal interest rate basis | COF | |
Bank loans | $ 3 | $ 12 |
Bank loan 5 | IDR | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 9.90% | 1.80% |
Year of maturity | 2023 | 2022 |
Bank loan 5 | IDR | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 10.30% | 2% |
Year of maturity | 2025 | 2025 |
Bank loan 6 | IDR | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | IDR | |
Nominal interest rate basis | COF | |
Bank loans | $ 7 | |
Bank loan 6 | IDR | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 1.80% | |
Year of maturity | 2023 | |
Bank loan 6 | IDR | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 2% | |
Year of maturity | 2025 | |
Bank loan 6 | THB | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | THB | |
Nominal interest rate | 7% | |
Nominal interest rate basis | COF | |
Year of maturity | 2022 | |
Bank loans | $ 15 | |
Bank Loan 7 | THB | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | THB | |
Nominal interest rate | 7% | |
Nominal interest rate basis | COF | |
Year of maturity | 2023 | |
Bank loans | $ 25 | |
Term loans | USD | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | USD | USD |
Nominal interest rate | 4.50% | 5.50% |
Nominal interest rate basis | LIBOR | |
Year of maturity | 2026 | 2026 |
Term loan | $ 1,061 | $ 1,914 |
Lease liabilities | Multiple | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Currency | Multiple | Multiple |
Lease liabilities | $ 186 | $ 123 |
Lease liabilities | Multiple | Bottom of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 3.50% | 1.90% |
Year of maturity | 2023 | 2022 |
Lease liabilities | Multiple | Top of range | ||
Disclosure Details For Terms And Conditions For Outstanding Loans [Line Items] | ||
Nominal interest rate | 10% | 11% |
Year of maturity | 2037 | 2037 |
Loans and Borrowings - Summar_2
Loans and Borrowings - Summary of Reconciliation of Movements of Liabilities to Cash Flows from Financing Activities (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | $ 2,175 | $ 14,868 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 463 | |
Proceeds from bank loans | 109 | 1,980 |
Payment of bank loans | (1,019) | (176) |
Payment of lease liabilities | (35) | (24) |
Interest paid | (160) | (108) |
Total changes from financing cash flows | (1,105) | 2,135 |
Effect of changes in foreign exchange rates | (2) | (5) |
Other changes | ||
Recognition of lease liabilities | 72 | 106 |
Derecognition of lease liabilities | (13) | |
Secured bank loans for asset acquisition | 18 | 20 |
Interest expense | 165 | 1,701 |
CRPS converted to GHL ordinary shares | (16,650) | |
Acquisition through business combination | 55 | |
Total liability-related other changes | 297 | (14,823) |
Balance at December 31 | 1,365 | 2,175 |
Convertible redeemable preference shares | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | 0 | 10,767 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 436 | |
Proceeds from bank loans | 0 | |
Payment of bank loans | 0 | |
Payment of lease liabilities | 0 | |
Interest paid | 0 | |
Total changes from financing cash flows | 436 | |
Effect of changes in foreign exchange rates | 0 | |
Other changes | ||
Recognition of lease liabilities | 0 | |
Derecognition of lease liabilities | 0 | |
Secured bank loans for asset acquisition | 0 | |
Interest expense | 1,570 | |
CRPS converted to GHL ordinary shares | (12,773) | |
Total liability-related other changes | (11,203) | |
Balance at December 31 | 0 | |
Bank loans | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | 138 | 212 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 0 | |
Proceeds from bank loans | 109 | 60 |
Payment of bank loans | (161) | (151) |
Payment of lease liabilities | 0 | 0 |
Interest paid | (8) | (23) |
Total changes from financing cash flows | (60) | (114) |
Effect of changes in foreign exchange rates | (3) | (3) |
Other changes | ||
Recognition of lease liabilities | 0 | 0 |
Derecognition of lease liabilities | 0 | 0 |
Secured bank loans for asset acquisition | 18 | 20 |
Interest expense | 7 | 23 |
CRPS converted to GHL ordinary shares | 0 | |
Acquisition through business combination | 18 | |
Total liability-related other changes | 43 | 43 |
Balance at December 31 | 118 | 138 |
Term Loan | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | 1,914 | 0 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 0 | |
Proceeds from bank loans | 0 | 1,920 |
Payment of bank loans | (858) | (25) |
Payment of lease liabilities | 0 | 0 |
Interest paid | (140) | (83) |
Total changes from financing cash flows | (998) | 1,812 |
Effect of changes in foreign exchange rates | 0 | (1) |
Other changes | ||
Recognition of lease liabilities | 0 | 0 |
Derecognition of lease liabilities | 0 | 0 |
Secured bank loans for asset acquisition | 0 | 0 |
Interest expense | 145 | 103 |
CRPS converted to GHL ordinary shares | 0 | |
Acquisition through business combination | 0 | |
Total liability-related other changes | 145 | 103 |
Balance at December 31 | 1,061 | 1,914 |
Lease liabilities | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | 123 | 39 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 0 | |
Proceeds from bank loans | 0 | 0 |
Payment of bank loans | 0 | 0 |
Payment of lease liabilities | (35) | (24) |
Interest paid | (12) | (2) |
Total changes from financing cash flows | (47) | (26) |
Effect of changes in foreign exchange rates | 1 | (1) |
Other changes | ||
Recognition of lease liabilities | 72 | 106 |
Derecognition of lease liabilities | (13) | |
Secured bank loans for asset acquisition | 0 | 0 |
Interest expense | 13 | 5 |
CRPS converted to GHL ordinary shares | 0 | |
Acquisition through business combination | 37 | |
Total liability-related other changes | 109 | 111 |
Balance at December 31 | 186 | 123 |
Equity component of convertible redeemable preference shares | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance at January 1 | $ 0 | 3,850 |
Changes from financing cash flows | ||
Proceeds from issuance of CRPS | 27 | |
Proceeds from bank loans | 0 | |
Payment of bank loans | 0 | |
Payment of lease liabilities | 0 | |
Interest paid | 0 | |
Total changes from financing cash flows | 27 | |
Effect of changes in foreign exchange rates | 0 | |
Other changes | ||
Recognition of lease liabilities | 0 | |
Derecognition of lease liabilities | 0 | |
Secured bank loans for asset acquisition | 0 | |
Interest expense | 0 | |
CRPS converted to GHL ordinary shares | (3,877) | |
Total liability-related other changes | (3,877) | |
Balance at December 31 | $ 0 |
Loans and Borrowings - Summar_3
Loans and Borrowings - Summary of Loans and Borrowings (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current | ||
Bank loans | $ 55 | $ 55 |
Term loan | 1,041 | 1,875 |
Lease liabilities | 152 | 101 |
Non-current borrowings | 1,248 | 2,031 |
Current | ||
Bank loans | 63 | 83 |
Term loan | 20 | 39 |
Lease liabilities | 34 | 22 |
Current borrowings | $ 117 | $ 144 |
Provisions - Summary Of Provisi
Provisions - Summary Of Provisions (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | ||
Site restoration provision Beginning balance | $ 21 | |
Legal provision Beginning balance | 32 | |
Legal provision Ending balance | 32 | $ 32 |
Site restoration provision Ending balance | 24 | 21 |
Provisions | 56 | 53 |
Non-current | 18 | 18 |
Current | 38 | 35 |
Site restoration | ||
Disclosure of other provisions [line items] | ||
Site restoration provision Beginning balance | 21 | 6 |
Provisions made during the year | 2 | 18 |
Provisions reversed during the year | (1) | (3) |
Effect of movements in exchange rates | 2 | 0 |
Site restoration provision Ending balance | 24 | 21 |
Legal | ||
Disclosure of other provisions [line items] | ||
Legal provision Beginning balance | 32 | 32 |
Provisions made during the year | 1 | |
Provisions reversed during the year | 0 | |
Effect of movements in exchange rates | (1) | |
Legal provision Ending balance | $ 32 | $ 32 |
Trade payables and other liab_3
Trade payables and other liabilities - Summary of Trade and Other Payables (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current liabilities | ||
Other payables | $ 12 | $ 12 |
Warrant liabilities | 14 | 54 |
Employee defined benefit liability | 13 | 15 |
Put options issued to non-controlling interests | 93 | 0 |
Non-current Payables | 132 | 81 |
Current liabilities | ||
Trade payables | 189 | 167 |
Accrued operating expenses | 370 | 345 |
Electronic Wallets | 263 | 242 |
Tax payables | 37 | 29 |
Deposits | 25 | 20 |
Contract liabilities | 9 | 9 |
Others | 40 | 32 |
Trade and other current payables | $ 933 | $ 844 |
Trade payables and other liab_4
Trade payables and other liabilities - Additional Information (Detail) shares in Millions | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Disclosure of Warrant Liabilities [Line Items] | |
Number of warrants can be exercised on cash less basis | shares | 12 |
Description of term of warrants | The terms of all warrants include a provision that in the event of a tender or exchange offer made to and accepted by holders of more than 50% of the outstanding GHL Class A ordinary shares, the warrant holders would be entitled to receive cash for their warrants. |
Warrants exercise price | $ / shares | $ 11.50 |
Warrants [Member] | |
Disclosure of Warrant Liabilities [Line Items] | |
Total number of warrants listed | shares | 26 |
Issuance of warrants as part of reverse recapitalization | shares | 26 |
Warrants [Member] | Bottom of range [member] | |
Disclosure of Warrant Liabilities [Line Items] | |
Warrants redemption price per share | $ / shares | $ 0.01 |
Warrants [Member] | Top of range [member] | |
Disclosure of Warrant Liabilities [Line Items] | |
Warrants redemption price per share | $ / shares | $ 0.10 |
Trade payables and other liab_5
Trade payables and other liabilities - Summary of Change in Carrying Value of the Warrants (Detail) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure For Change In Carrying Value Of The Warrants. [Line Items] | ||
Initial recognition | $ 54 | $ 0 |
Issuance of warrants as part of reverse recapitalization | 0 | 91 |
Change in fair value | (40) | (37) |
Ending balance | $ 14 | $ 54 |
Total | ||
Disclosure For Change In Carrying Value Of The Warrants. [Line Items] | ||
Issuance Of Warrants As Part Of Reverse Recapitalization | 4 |
Income taxes - Summary of compo
Income taxes - Summary of components of tax expense (income) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current tax expense | |||
Current year | $ 27 | $ 6 | $ 7 |
Total | 27 | 6 | 7 |
Origination and reversal of temporary difference | (9) | (3) | (5) |
Recognition of previously unrecognized tax losses | (12) | 0 | 0 |
Deferred Tax Expense Income And Adjustments For Deferred Tax Of Prior Periods | (21) | (3) | (5) |
Income tax expense | $ 6 | $ 3 | $ 2 |
Income taxes - Summary of recon
Income taxes - Summary of reconciliation of effective tax rate (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Loss before tax | $ (1,734) | $ (3,552) | $ (2,743) |
Tax at the domestic rates applicable to profits in the countries where the Group operates | (165) | (238) | (241) |
Non-deductible expenses | 13 | 46 | 66 |
Current year losses for which no deferred tax asset is recognized | 194 | 211 | 196 |
Benefits from previously unrecognized tax losses | (36) | (16) | (19) |
Income tax expense | $ 6 | $ 3 | $ 2 |
Income taxes - Summary of movem
Income taxes - Summary of movement in deferred tax balances (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | $ (3) | |
Acquisition through business combination | 35 | |
Ending balance | (18) | $ (3) |
Unutilized tax losses | 6,767 | 6,324 |
Deferred Tax Liability Arising From Property Plant And Equipment [Member] | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liability (asset) | 18 | 3 |
Deferred Tax Assets Arising From Deferred Revenue [Member] | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liability (asset) | 8 | 5 |
Deferred Tax Asset Arising From Tax Losses Carried Forward [Member] | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liability (asset) | 12 | 0 |
Movement in deferred tax liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (3) | (1) |
Recognized in profit or loss | 6 | (2) |
Acquisition through business combination | (21) | |
Ending balance | (18) | (3) |
Movement in Deferred Tax Assets [Member] | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 5 | 0 |
Recognized in profit or loss | 15 | 5 |
Acquisition through business combination | 0 | |
Ending Balance | $ 20 | $ 5 |
Income taxes - Summary tax loss
Income taxes - Summary tax losses carried forward (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Loss Carryforward [Line Items] | ||
Unutilized tax losses | $ 6,767 | $ 6,324 |
Top of range [member] | ||
Operating Loss Carryforward [Line Items] | ||
Unutilized tax losses | 6,767 | |
Bottom of range [member] | ||
Operating Loss Carryforward [Line Items] | ||
Unutilized tax losses | $ 3,546 |
Income taxes - Summary tax lo_2
Income taxes - Summary tax losses carried forward (Detail) $ in Millions | Dec. 31, 2022 USD ($) |
2023 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | $ 838 |
2024 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 1,440 |
2025 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 535 |
2026 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 432 |
2027 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 247 |
2028 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 6 |
2029 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 25 |
2030 [Member] | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 6 |
2031 Member | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | 8 |
2032 Member | |
Operating Loss Carryforward [Line Items] | |
Expiry date of unutilized tax losses | $ 9 |
Share-Based Payment Arrangeme_3
Share-Based Payment Arrangements - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2022 shares $ / shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | Dec. 31, 2020 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights Percentage | 25% | |||
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period | 4 years | |||
Number of share options vested in share-based payment arrangement | 10,817,000 | |||
GHI Ordinary Shares [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Contributed to employee through payroll deductions, description | the Company has established the 2021 Equity Stock Purchase Plan ("ESPP") which allows eligible employees to contribute, through payroll deductions, up to 15% of their eligible compensation to purchase the Company’s Class A Ordinary Shares at a 15% discount of the lower of either (i) the closing trading price of the first day of an offering period or (ii) the closing trading price of the purchase date. | |||
2021 GHL Plan [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Stockholders' equity note, stock split, exchange ratio | 1.3032888 | |||
2021 ESPP [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Purchased of common shares | 2,900,000 | 2,900,000 | ||
Issuance Of Common Shares | 2,900,000 | 2,900,000 | ||
Par value per share | $ / shares | $ 2.02 | $ 2.02 | ||
Restricted Share Units [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Restricted ordinary shares awards issued but not paid | 24,900,000 | |||
Restricted Share Units [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Price Per Ordinary Share | 10 | |||
Restricted Share Units [Member] | 2021 GHL Plan [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Conversion of Reverse Recapitalisation of restricted ordinary shares | 131,765,000 | 131,765,000 | 64,646,000 | 66,457,000 |
Reverse Recapitalisation [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighted average share price of options granted , fair value | $ / shares | $ 3.16 | $ 9.88 | $ 1.96 | |
Bottom of range [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Exercise price of outstanding share options | $ / shares | $ 0.28 | 0.28 | 0.28 | 0.28 |
Top of range [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Exercise price of outstanding share options | $ / shares | $ 4.03 | $ 4.03 | $ 4.03 | $ 6.07 |
GHI Share [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 | ||
GHI Share [Member] | Restricted Share Units [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Cancelled and forfeited - Number of Share Options | 0 | |||
Conversion of Reverse Recapitalisation of restricted ordinary shares | 32,452,000 | |||
Number of RSUs granted after the date of consummation of Reverse Recapitalization | 0 | |||
Granted - Weighted average exercise price per share | $ / shares | $ 10 | |||
GHI Share [Member] | Reverse Recapitalisation [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 | 1.3032888 | |
Number of RSUs granted after the date of consummation of Reverse Recapitalization | 0 | |||
GHI Share [Member] | Restricted Stock Units (RSUs) [Member] | GHL [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 |
Share-Based Payment Arrangeme_4
Share-Based Payment Arrangements - Summary of Reconciliation of Outstanding Share Options (Detail) | 12 Months Ended | |||
Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | Dec. 31, 2020 shares $ / shares | Dec. 31, 2019 shares $ / shares | |
2021 GHL Plan [Member] | ||||
Statements [Line Items] | ||||
Weighted-average remaining contractual life | 7 years 2 months 19 days | 7 years 9 months 21 days | ||
Share options [member] | GHI 2018 Plan and GHI 2015 Plan [Member] | ||||
Statements [Line Items] | ||||
Beginning balance - Number of Share Options | shares | 114,243,000 | 115,212,000 | ||
Granted - Number of Share Options | shares | 2,848,000 | 11,736,000 | ||
Exercised - Number of Share Options | shares | (62,220,000) | (7,308,000) | ||
Cancelled and forfeited - Number of Share Options | shares | (1,564,000) | (5,397,000) | ||
Effect of replacement of GHI 2018 and 2015 Equity Incentive Plans with 2021 GHL Plan as a part of Reverse Recapitalisation - Number of Share Option | shares | 53,307,000 | |||
Ending balance - Number of Share Options | shares | 114,243,000 | 115,212,000 | ||
Beginning balance - Weighted average exercise price per share | $ / shares | $ 1.17 | $ 1.06 | ||
Granted - Weighted average exercise price per share | $ / shares | 1.29 | 1.85 | ||
Exercised - Weighted average exercise price per share | $ / shares | 0.81 | 0.59 | ||
Cancelled and forfeited - Weighted average exercise price per share | $ / shares | 1.04 | 0.99 | ||
Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of Reverse Recapitalization | $ / shares | $ 1.97 | |||
Ending balance - Weighted average exercise price per share | $ / shares | $ 1.17 | $ 1.06 | ||
Exercisable - Number of Share Options | shares | 57,634,000 | |||
Exercisable - Weighted average exercise price per share | $ / shares | $ 0.80 | |||
Weighted-average remaining contractual life | 7 years 6 months 14 days | 8 years 2 months 15 days | ||
Share options [member] | 2021 GHL Plan [Member] | ||||
Statements [Line Items] | ||||
Beginning balance - Number of Share Options | shares | 53,096,000 | 53,307,000 | ||
Number of share options Issued for acquisition of non-controlling interests | shares | 17,910,000 | |||
Exercised - Number of Share Options | shares | (12,846,000) | (188,000) | ||
Cancelled and forfeited - Number of Share Options | shares | (3,223,000) | (23,000) | ||
Ending balance - Number of Share Options | shares | 54,937,000 | 53,096,000 | 53,307,000 | |
Beginning balance - Weighted average exercise price per share | $ / shares | $ 1.98 | $ 1.97 | ||
Weighted average exercise price of share options Issued for acquisition of non-controlling interests | $ / shares | 2.26 | |||
Exercised - Weighted average exercise price per share | $ / shares | 1.31 | 0.81 | ||
Cancelled and forfeited - Weighted average exercise price per share | $ / shares | 2.15 | 1.73 | ||
Ending balance - Weighted average exercise price per share | $ / shares | $ 2.22 | $ 1.98 | $ 1.97 | |
Exercisable - Number of Share Options | shares | 32,021,000 | 18,010,000 | ||
Exercisable - Weighted average exercise price per share | $ / shares | $ 2.10 | $ 1.76 | ||
Weighted-average remaining contractual life | 7 years 4 months 28 days |
Share-Based Payment Arrangeme_5
Share-Based Payment Arrangements - Summary of Reconciliation of Outstanding Share Options (Parenthetical) (Detail) - GHL [Member] - GHI Share [Member] | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statements [Line Items] | |||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 | |
Sharebased Payment Arrangement, Option [Member] | |||
Statements [Line Items] | |||
Conversion Ratio Common Stock | 1.3032888 | ||
Restricted Stock Units (RSUs) [Member] | |||
Statements [Line Items] | |||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 |
Share-Based Payment Arrangeme_6
Share-Based Payment Arrangements - Summary of Reconciliation of Outstanding RSUs (Detail) - Restricted Share Units [Member] - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
2021 GHL Plan [Member] | |||
Statements [Line Items] | |||
Beginning balance - Number of unvested restricted share units | 64,646,000 | 66,457,000 | |
Granted - Number of unvested restricted share units | 109,016,000 | ||
Vested - Number of unvested restricted share units | (24,343,000) | (330,000) | |
Canceled and forfeited - Number of unvested restricted share units | (17,554,000) | (1,481,000) | |
Ending balance - Number of unvested restricted share units | 131,765,000 | 64,646,000 | 66,457,000 |
GHI 2018 Plan and GHI 2015 Plan [Member] | |||
Statements [Line Items] | |||
Beginning balance - Number of unvested restricted share units | 36,546,000 | 36,302,000 | |
Granted - Number of unvested restricted share units | 47,895,000 | 19,850,000 | |
Vested - Number of unvested restricted share units | (11,783,000) | (10,114,000) | |
Canceled and forfeited - Number of unvested restricted share units | (6,201,000) | (9,492,000) | |
Effect of replacement of GHI 2018 Plan and GHI 2015 Plan with 2021 GHL Plan as a part of Reverse Recapitalisation | 66,457,000 | ||
Ending balance - Number of unvested restricted share units | 36,546,000 |
Share-Based Payment Arrangeme_7
Share-Based Payment Arrangements - Summary of Share-based Payment Expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statements [Line Items] | |||
Total expense from share-based payment transactions | $ 412 | $ 357 | $ 54 |
Cost of revenue [Member] | |||
Statements [Line Items] | |||
Total expense from share-based payment transactions | 60 | 42 | 10 |
Sales and Marketing [Member] | |||
Statements [Line Items] | |||
Total expense from share-based payment transactions | 14 | 11 | 2 |
Research and Development [Member] | |||
Statements [Line Items] | |||
Total expense from share-based payment transactions | 124 | 89 | 14 |
General and Administrative [Member] | |||
Statements [Line Items] | |||
Total expense from share-based payment transactions | $ 214 | $ 215 | $ 28 |
Share-Based Payment Arrangeme_8
Share-Based Payment Arrangements - Summary of Measurement of Fair Values - Share Options (Detail) - Share options [member] | 12 Months Ended | |
Dec. 31, 2021 yr $ / shares | Dec. 31, 2020 yr $ / shares | |
Statements [Line Items] | ||
Fair value at grant date (weighted average) | $ 8.95 | $ 2.46 |
Share price at grant date (weighted average) | 9.97 | 3.59 |
Exercise price at grant date (weighted average) | $ 1.29 | $ 1.85 |
Expected volatility (weighted average) | 61.57% | 56.46% |
Expected terms (years) (weighted average) | yr | 6.2 | 6 |
Expected dividend (weighted average) | 0% | 0% |
Risk-free interest rate (weighted average) | 1.24% | 0.40% |
Revenue - Summary of Revenue fr
Revenue - Summary of Revenue from Contracts with Customers (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 1,433 | $ 675 | $ 469 |
Deliveries [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 663 | 148 | 5 |
Mobility [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 639 | 456 | 438 |
Financial Services [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 71 | 27 | (10) |
Enterprise and new initiatives [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 60 | 44 | 36 |
SINGAPORE | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 302 | 283 | 246 |
MALAYSIA | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 509 | 108 | 91 |
INDONESIA | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 275 | 79 | (61) |
PHILIPPINES | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 125 | 81 | 51 |
THAILAND | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 109 | 76 | 57 |
Rest of Southeast Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 113 | $ 48 | $ 85 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Rental income from motor vehicles | $ 126 | $ 103 | $ 95 |
Revenue from contractual agreements | 52 | ||
Cost of revenue | $ 68 |
Income and Expenses - Summary o
Income and Expenses - Summary of Other Operating Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Material income and expense [abstract] | |||
Government grant income | $ 7 | $ 8 | $ 18 |
Others | 10 | 4 | 15 |
Other income | $ 17 | $ 12 | $ 33 |
Income and Expenses - Summary_2
Income and Expenses - Summary of Other Operating Expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Material income and expense [abstract] | |||
Impairment of goodwill | $ 3 | $ 8 | $ 28 |
Others | 14 | 3 | 12 |
Other expenses | $ 17 | $ 11 | $ 40 |
Income and Expenses - Summary_3
Income and Expenses - Summary of Expenses by Nature (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Staff costs | $ 1,253 | $ 1,019 | $ 639 |
Operation costs | 864 | 462 | 425 |
Depreciation and amortization | 150 | 345 | 387 |
Marketing expenses | 206 | 177 | 65 |
Professional fees | $ 104 | $ 82 | $ 56 |
Net Finance Costs - Summary of
Net Finance Costs - Summary of Net Finance Costs (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income under the effective interest method on: | |||
Financial assets measured at amortized cost - interest income (primarily time deposits and cash and cash equivalents) | $ 107 | $ 26 | $ 42 |
Net change in fair value of financial assets and liabilities | (294) | 37 | (42) |
Net foreign exchange gain | 0 | 2 | 11 |
Finance income | 107 | 28 | 53 |
Financial liabilities measured at amortized cost - interest expense | (165) | (1,701) | (1,433) |
Impairment loss and change in fair value on investment in associates | 0 | 0 | (15) |
Net change in fair value of financial assets and liabilities | (294) | 37 | (42) |
Net foreign exchange loss | (1) | 0 | 0 |
Finance costs | (166) | (1,701) | (1,448) |
Share listing and associated expenses | 0 | (353) | 0 |
Net finance costs recognized in profit or loss | $ (353) | $ (1,989) | $ (1,437) |
Loss Per Share - Additional Inf
Loss Per Share - Additional Information (Detail) - GHL [Member] - GHI Share [Member] | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Exchange Ratio [Line Items] | |||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 | |
Reverse Recapitalization [Member] | |||
Exchange Ratio [Line Items] | |||
Conversion Ratio Common Stock | 1.3032888 | 1.3032888 | 1.3032888 |
Loss Per Share - Summary of Ear
Loss Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per share [abstract] | |||
Loss for the year | $ (1,740) | $ (3,555) | $ (2,745) |
Less: Loss attributable to non-controlling interests | (57) | (106) | (137) |
Loss for the year attributable to ordinary shareholders | $ (1,683) | $ (3,449) | $ (2,608) |
Basic weighted-average ordinary shares outstanding | 3,814,492 | 539,947 | 181,190 |
Basic loss per share attributable to ordinary shareholders | $ (0.44) | $ (6.39) | $ (14.39) |
Diluted loss per share attributable to ordinary shareholders | $ (0.44) | $ (6.39) | $ (14.39) |
Loss per share - Summary of Ant
Loss per share - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 358,677 | 224,055 | 3,022,141 |
Convertible Redeemable Preference Shares [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 0 | 0 | 2,871,351 |
Warrants [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 26,000 | 26,000 | 0 |
Restricted ordinary shares [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 21,635 | 32,452 | 0 |
Share options [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 54,937 | 53,096 | 114,244 |
Restricted Stock Units [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 131,765 | 64,752 | 36,546 |
Shares committed under ESPP [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 2,890 | 0 | 0 |
Options To Swap the Shares In GHL Subsidiaries for GHL Class A Ordinary Shares [Member] | |||
Antidilutive Securities Excluded From Computation Of Earning Per Share Line Items | |||
Total | 121,450 | 47,755 | 0 |
Related Parties - Summary of Co
Related Parties - Summary of Compensation to Directors and Executive Officers (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Key management personnel | |||
Short-term employee benefits | $ 7 | $ 4 | $ 2 |
Share-based payment | $ 160 | $ 172 | $ 24 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) $ in Millions | Dec. 31, 2022 USD ($) |
Other related party transactions [member] | |
Disclosure of transactions between related parties [line items] | |
Capital commitments | $ 813 |
Leases - Summary of Right-of-us
Leases - Summary of Right-of-use Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | $ 118 | $ 39 |
Depreciation | (44) | (27) |
Additions | 72 | 106 |
Acquisition through business combination | 35 | |
Derecognition | (6) | |
Effects of movement in exchange rates | (4) | |
Ending balance | 171 | 118 |
Amounts recognized in profit or loss | ||
Interest on lease liabilities | 13 | 5 |
Amounts recognized in statement of cash flows | ||
Cash outflow for leases | 35 | 24 |
Motor vehicles [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 6 | |
Depreciation | (8) | |
Additions | 37 | 6 |
Acquisition through business combination | 0 | |
Derecognition | 0 | |
Effects of movement in exchange rates | (2) | |
Ending balance | 33 | 6 |
Property [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 112 | 39 |
Depreciation | (36) | (27) |
Additions | 35 | 100 |
Acquisition through business combination | 35 | |
Derecognition | (6) | |
Effects of movement in exchange rates | (2) | |
Ending balance | $ 138 | $ 112 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | ||
Rental income | $ 126 | $ 103 |
Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Office premises, retail stores and motor vehicles lease term | P1Y | |
Office equipment contract term | P1Y | |
Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Office premises, retail stores and motor vehicles lease term | P11Y | |
Office equipment contract term | P5Y |
Leases - Summary of As a lessor
Leases - Summary of As a lessor (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Not later than one year [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted operating lease payments to be received | $ 84 | $ 42 |
Later than one year and not later than five years [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted operating lease payments to be received | $ 11 | $ 3 |
Financial Instruments - Summary
Financial Instruments - Summary of Impairment Losses on Financial Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | $ 58 | $ 19 | $ 63 |
Trade receivables [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | 20 | 8 | 33 |
Loans and advances at amortized cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | 31 | 11 | 10 |
Payment cycle receivables [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | 6 | 5 | 3 |
Other receivables [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | 1 | 3 | 11 |
Time deposits [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | 0 | (8) | 8 |
Cash and cash equivalents [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Impairment loss on financial assets | $ 0 | $ 0 | $ (2) |
Financial Instruments - Summa_2
Financial Instruments - Summary of Exposure to Credit Risk for Trade Receivables at Reporting Date (Detail) - Trade receivables [member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | $ 100 | $ 95 |
INDONESIA | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | 28 | 36 |
SINGAPORE | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | 20 | 25 |
PHILIPPINES | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | 12 | 5 |
MALAYSIA | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | 19 | 13 |
Thailand | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | 6 | 9 |
Other Countries | ||
Disclosure Details Of Exposure To Credit Risk On Trade Receivables [line items] | ||
Credit exposure | $ 15 | $ 7 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Exposure to Credit Risk and ECLs (Detail) - Trade receivables [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Gross carrying amount | $ 120 | $ 117 |
Loss allowance | $ (20) | $ (22) |
Current (not past due) [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 6.75% | 2.94% |
Gross carrying amount | $ 83 | $ 70 |
Loss allowance | $ (7) | $ (2) |
Credit- impaired | No | No |
1 – 30 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 9.91% | 10.08% |
Gross carrying amount | $ 12 | $ 17 |
Loss allowance | $ (1) | $ (2) |
Credit- impaired | No | No |
31 – 60 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 15.52% | 20.46% |
Gross carrying amount | $ 9 | $ 10 |
Loss allowance | $ (1) | $ (2) |
Credit- impaired | No | No |
61 – 90 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 31.27% | 50.14% |
Gross carrying amount | $ 3 | $ 5 |
Loss allowance | $ (1) | $ (2) |
Credit- impaired | No | No |
91 – 120 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 42.41% | 55.76% |
Gross carrying amount | $ 3 | $ 4 |
Loss allowance | $ (1) | $ (3) |
Credit- impaired | No | No |
More than 121 days [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 93.15% | 98.54% |
Gross carrying amount | $ 10 | $ 11 |
Loss allowance | $ (9) | $ (11) |
Credit- impaired | Yes | Yes |
Financial Instruments - Summa_4
Financial Instruments - Summary of Movement in the Allowance (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Movement In Allowances For Impairment Of Trade Receivables [line items] | ||
Amounts written off | $ (19) | $ (9) |
Trade receivables [member] | ||
Disclosure Of Movement In Allowances For Impairment Of Trade Receivables [line items] | ||
Beginning balance | 22 | 40 |
Impairment loss recognized | 21 | 8 |
Amounts written off | (22) | (24) |
Exchange translation differences | (1) | (2) |
Ending balance | $ 20 | $ 22 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Exposure to Credit Risk for Loans and Advances (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | $ 185 | $ 107 |
MALAYSIA | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | 36 | 14 |
SINGAPORE | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | 59 | 40 |
THAILAND | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | 48 | 33 |
PHILIPPINES | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | 19 | 13 |
INDONESIA | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | 13 | 2 |
VIETNAM | ||
Disclosure In Tabular Form Of Exposure To Credit Risk For Loans And Advance [line items] | ||
Exposure to credit risk for loans and advances | $ 10 | $ 5 |
Financial Instruments - Summa_6
Financial Instruments - Summary of Exposure to Credit Risk and ECLs for Loans and Advances (Detail) - Loans to consumers [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Gross carrying amount | $ 207 | $ 118 |
Loss allowance | $ (22) | $ (11) |
Current (not past due) [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 4.49% | 5.37% |
Gross carrying amount | $ 172 | $ 97 |
Loss allowance | $ (8) | $ (5) |
Credit- impaired | No | No |
1 – 30 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 14.61% | 12.84% |
Gross carrying amount | $ 17 | $ 16 |
Loss allowance | $ (2) | $ (2) |
Credit- impaired | No | No |
31 – 60 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 39.50% | 46.53% |
Gross carrying amount | $ 6 | $ 2 |
Loss allowance | $ (2) | $ (1) |
Credit- impaired | No | No |
61 – 90 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 66.72% | 56.23% |
Gross carrying amount | $ 4 | $ 1 |
Loss allowance | $ (3) | $ (1) |
Credit- impaired | No | No |
91 – 120 days past due [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 92.02% | 87.43% |
Gross carrying amount | $ 4 | $ 1 |
Loss allowance | $ (3) | $ (1) |
Credit- impaired | Yes | Yes |
More than 121 days [member] | ||
Disclosure Details Of Exposure To Credit Risk And Expected Credit Loss [line items] | ||
Weighted average loss rate | 91.11% | 91.12% |
Gross carrying amount | $ 4 | $ 1 |
Loss allowance | $ (4) | $ (1) |
Credit- impaired | Yes | Yes |
Financial Instruments - Summa_7
Financial Instruments - Summary of Movements in Allowance for Impairment in Respect of Loans and Advances (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | ||
At January 1 | $ 11 | $ 9 |
Impairment loss recognized | 31 | 11 |
Amounts written off | (19) | (9) |
Exchange translation differences | (1) | |
At December 31 | $ 22 | $ 11 |
Financial instruments - Summa_8
Financial instruments - Summary of Contractual Maturities of Financial Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | $ (2,092) | $ (2,886) |
Bank loans | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | 118 | 138 |
Bank loans | (127) | (150) |
Bank loans | Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank loans | (68) | (74) |
Bank loans | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank loans | (59) | (76) |
Bank loans | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank loans | 0 | 0 |
Trade and other payables [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | 913 | 780 |
Trade and other payables | (913) | (780) |
Trade and other payables [member] | Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | (794) | (770) |
Trade and other payables [member] | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | (119) | (10) |
Trade and other payables [member] | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 0 | 0 |
Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | 186 | 123 |
Lease liabilities | (263) | (197) |
Lease liabilities [member] | Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Lease liabilities | (47) | (23) |
Lease liabilities [member] | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Lease liabilities | (107) | (58) |
Lease liabilities [member] | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Lease liabilities | (109) | (116) |
Term Loans [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | 1,061 | 1,914 |
Term loan | 1,382 | 2,422 |
Term Loans [Member] | Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Term loan | 120 | 131 |
Term Loans [Member] | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Term loan | 1,262 | 2,291 |
Term Loans [Member] | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Term loan | 0 | 0 |
Total | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Carrying amount | 2,278 | 2,955 |
Non-derivative financial liabilities, undiscounted cash flows | (2,685) | (3,549) |
Total | Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities, undiscounted cash flows | (1,029) | (998) |
Total | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities, undiscounted cash flows | (1,547) | (2,435) |
Total | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities, undiscounted cash flows | $ (109) | $ (116) |
Financial Instruments - Summa_9
Financial Instruments - Summary of Interest Rate Profile of the Group's Interest-bearing Financial Instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial instruments by type of interest rate [line items] | ||
Cash and cash equivalents | $ 1,952 | $ 4,991 |
Fixed-rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Other investments | 3,744 | 3,178 |
Cash and cash equivalents | 1,952 | 4,991 |
Bank loans | (66) | (100) |
Variable-rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Bank loans | (52) | (38) |
Term loan | $ 1,061 | $ 1,914 |
Financial Instruments - Summ_10
Financial Instruments - Summary of Accounting Classification and Fair Values (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | $ 1,109 | $ 1,303 |
Financial assets amortized cost | 6,250 | 8,596 |
Financial assets | 7,385 | 9,899 |
Financial assets measured at fair value | 1,135 | 1,303 |
Financial liabilities measured at fair value | (20) | (63) |
Financial assets FVOCI | 26 | 0 |
Financial liabilities FVOCI | (93) | 0 |
Financial liabilities at amortized cost | (1,979) | (2,823) |
Financial liabilities | (2,092) | (2,886) |
Financial liabilities measured at fair value | (113) | (63) |
Debt investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 772 | 685 |
Financial assets amortized cost | 0 | 0 |
Financial assets | 798 | 685 |
Financial assets measured at fair value | 798 | 685 |
Financial assets FVOCI | 26 | 0 |
Equity investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 334 | 618 |
Financial assets amortized cost | 0 | 0 |
Financial assets | 334 | 618 |
Financial assets measured at fair value | 334 | 618 |
Financial assets FVOCI | 0 | 0 |
Time deposits [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 0 | 0 |
Financial assets amortized cost | 3,744 | 3,178 |
Financial assets | 3,744 | 3,178 |
Financial assets measured at fair value | 0 | 0 |
Financial assets FVOCI | 0 | 0 |
Trade and other receivables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 0 | 0 |
Financial assets amortized cost | 372 | 255 |
Financial assets | 372 | 255 |
Financial assets measured at fair value | 0 | 0 |
Financial assets FVOCI | 0 | 0 |
Other assets [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 3 | 0 |
Financial assets amortized cost | 182 | 172 |
Financial assets | 185 | 172 |
Financial assets measured at fair value | 3 | 0 |
Financial assets FVOCI | 0 | 0 |
Cash and cash equivalents [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets FVTPL | 0 | 0 |
Financial assets amortized cost | 1,952 | 4,991 |
Financial assets | 1,952 | 4,991 |
Financial assets measured at fair value | 0 | 0 |
Financial assets FVOCI | 0 | 0 |
Term Loan [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Financial liabilities FVOCI | 0 | 0 |
Financial liabilities at amortized cost | (1,061) | (1,914) |
Financial liabilities | (1,061) | (1,914) |
Financial liabilities measured at fair value | 0 | 0 |
Warrant liabilities [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | (14) | (54) |
Financial liabilities FVOCI | 0 | 0 |
Financial liabilities at amortized cost | 0 | 0 |
Financial liabilities | (14) | (54) |
Financial liabilities measured at fair value | (14) | (54) |
Bank loans [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Financial liabilities FVOCI | 0 | 0 |
Financial liabilities at amortized cost | (118) | (138) |
Financial liabilities | (118) | (138) |
Financial liabilities measured at fair value | 0 | 0 |
Trade and other payables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | (6) | (9) |
Financial liabilities FVOCI | (93) | 0 |
Financial liabilities at amortized cost | (800) | (771) |
Financial liabilities | (899) | (780) |
Financial liabilities measured at fair value | (99) | (9) |
Level 1 of fair value hierarchy [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 367 | 1,051 |
Financial liabilities measured at fair value | (14) | (21) |
Level 1 of fair value hierarchy [member] | Debt investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 179 | 594 |
Level 1 of fair value hierarchy [member] | Equity investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 188 | 457 |
Level 1 of fair value hierarchy [member] | Time deposits [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Trade and other receivables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Other assets [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Cash and cash equivalents [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Term Loan [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Warrant liabilities [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | (14) | (21) |
Level 1 of fair value hierarchy [member] | Bank loans [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 1 of fair value hierarchy [member] | Trade and other payables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 570 | 91 |
Financial liabilities measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Debt investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 567 | 91 |
Level 2 of fair value hierarchy [member] | Equity investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Time deposits [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Trade and other receivables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Other assets [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 3 | 0 |
Level 2 of fair value hierarchy [member] | Cash and cash equivalents [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Term Loan [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Warrant liabilities [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Bank loans [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 2 of fair value hierarchy [member] | Trade and other payables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 198 | 161 |
Financial liabilities measured at fair value | (99) | (42) |
Level 3 of fair value hierarchy [member] | Debt investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 52 | 0 |
Level 3 of fair value hierarchy [member] | Equity investments [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 146 | 161 |
Level 3 of fair value hierarchy [member] | Time deposits [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Trade and other receivables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Other assets [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Cash and cash equivalents [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial assets measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Term Loan [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Warrant liabilities [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | (33) |
Level 3 of fair value hierarchy [member] | Bank loans [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | 0 | 0 |
Level 3 of fair value hierarchy [member] | Trade and other payables [member] | ||
Disclosure Of Fair Value Of Financial Instruments [line items] | ||
Financial liabilities measured at fair value | $ (99) | $ (9) |
Financial Instruments - Summ_11
Financial Instruments - Summary of Reconciliation from the Opening Balances to the Ending Balances (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Reconciliation Of Fair Value Of Assets Using Significant Unobservable Input [Line Items] | ||
Beginning balance | $ 11,178 | |
Ending balance | 9,170 | $ 11,178 |
Liabilities at beginning of period | (3,159) | |
Liabilities at end of period | (2,513) | (3,159) |
Level 3 of fair value hierarchy [member] | ||
Disclosure Of Reconciliation Of Fair Value Of Assets Using Significant Unobservable Input [Line Items] | ||
Beginning balance | 119 | 143 |
Net change in fair value (unrealized) | (40) | 35 |
Net purchases/ (issuances) | (13) | (59) |
Transfer between Level 3 and Level 1 | 33 | |
Ending balance | 99 | 119 |
Level 3 of fair value hierarchy [member] | Investment In Debt And Equity Instruments [member] | ||
Disclosure Of Reconciliation Of Fair Value Of Assets Using Significant Unobservable Input [Line Items] | ||
Beginning balance | 161 | 143 |
Net change in fair value (unrealized) | (43) | 17 |
Net purchases/ (issuances) | 80 | 1 |
Transfer between Level 3 and Level 1 | 0 | |
Ending balance | 198 | 161 |
Level 3 of fair value hierarchy [member] | Other financial liabilities [Member] | ||
Disclosure Of Reconciliation Of Fair Value Of Assets Using Significant Unobservable Input [Line Items] | ||
Liabilities at beginning of period | (42) | 0 |
Net change in fair value (unrealized) | 3 | 18 |
Net purchases/ (issuances) | (93) | 60 |
Transfer between Level 3 and Level 1 | 33 | |
Liabilities at end of period | $ (99) | $ (42) |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Deposits With Banks | $ 3,744 | $ 3,178 | ||
Cash and cash equivalents | $ 1,952 | 4,991 | ||
Term Loan [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Number of basis Points increase in LIBOR | 100 basis point | |||
Bank Loan [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Number of basis Points Changes in Interest Rate | 100 basis points | |||
Bench Mark Rate, Measurement Input [Member] | Term Loan [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Interest expense on debt instruments issued | $ 6 | |||
Bottom of range [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Past period term for assessing credit losses | 12 months | |||
Cash and cash equivalents | 4,838 | $ 2,004 | $ 1,372 | |
Top of range [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Past period term for assessing credit losses | 18 months | |||
Cash and cash equivalents | $ 4,991 | $ 2,173 | $ 1,511 |
Operating Segments - Summary of
Operating Segments - Summary of Information about Each Reportable Segment and Reconciliation (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Regional corporate costs | $ (858) | $ (717) | $ (554) |
Net interest income (expenses) | (57) | (1,675) | (1,391) |
Other income (expenses) | 7 | 12 | 10 |
Income tax expense | (6) | (3) | (2) |
Depreciation and amortization | (150) | (345) | (387) |
Stock-based compensation expenses | (412) | (357) | (54) |
Unrealized foreign exchange loss | (2) | (1) | |
Impairment losses on goodwill and non-financial assets | (5) | (15) | (43) |
Fair value changes on investments | (294) | 37 | (57) |
Restructuring costs | (8) | (1) | (2) |
Legal, tax and regulatory settlement provisions | (20) | (12) | (39) |
Share listing and associated expenses | 0 | (353) | 0 |
Loss for the year | (1,740) | (3,555) | (2,745) |
Reportable segments [member] | |||
Disclosure of operating segments [line items] | |||
Total reportable Segment | 65 | 125 | 226 |
Reportable segments [member] | Deliveries [Member] | |||
Disclosure of operating segments [line items] | |||
Total reportable Segment | (35) | (130) | (211) |
Reportable segments [member] | Mobility [Member] | |||
Disclosure of operating segments [line items] | |||
Total reportable Segment | 494 | 345 | 307 |
Reportable segments [member] | Financial Services [Member] | |||
Disclosure of operating segments [line items] | |||
Total reportable Segment | (415) | (349) | (331) |
Reportable segments [member] | Enterprise and new initiatives [Member] | |||
Disclosure of operating segments [line items] | |||
Total reportable Segment | $ 21 | $ 9 | $ 9 |
Business Combinations (Addition
Business Combinations (Additional Information) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 31, 2022 | |
Disclosure of detailed information about business combination [line items] | ||||
Cost of Revenue | $ 68 | |||
Revenue | 1,433 | $ 675 | $ 469 | |
Loss for the period | (1,740) | $ (3,555) | $ (2,745) | |
Net Loss After Tax | 1,740 | |||
Jaya Grocer [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Revenue | 334 | |||
Consolidated loss | 1,739 | |||
Acquisition-related costs for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | 1.3 | |||
Profit after tax | 11 | |||
consolidated revenue | $ 1,466 | |||
Jaya Grocer [Member] | Major business combination [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Percentage of voting equity interests acquired | 25% | 75% | ||
Put option, financial liability | $ 90 |
Business combinations - Schedul
Business combinations - Schedule of fair value of each major class of consideration (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Business Combination | |
Cash | $ 181 |
Equity instruments (8,173,375 ordinary shares) measured based on the listed share price of the Company at January 31, 2022 of $5.66 per share | 46 |
Total Fair value Of considerations | $ 227 |
Business combinations - Sched_2
Business combinations - Schedule of fair value of each major class of consideration (Parenthetical) (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Disclosure of detailed information about business combination [line items] | |
Measurement of Equity instruments | $ 46 |
Ordinary shares | |
Disclosure of detailed information about business combination [line items] | |
Measurement of Equity instruments | $ 8,173,375 |
Price Per Ordinary Share | 5.66 |
Business Combinations - Sched_3
Business Combinations - Schedule Of recognised amounts of assets acquired and liabilities (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Disclosure of detailed information about business combination [abstract] | |
Property, plant and equipment | $ 32 |
Right-of-use assets | 35 |
Intangible assets | 69 |
Merchandise inventories | 50 |
Trade and other receivables | 10 |
Cash and cash equivalents | 16 |
Loans and borrowings | (18) |
Deferred tax liabilities | (21) |
Lease liabilities | (37) |
Trade payables and other liabilities | (51) |
Identifiable net assets acquired | 85 |
Less: Non-controlling interest proportionate share of identifiable net assets | (21) |
Goodwill on acquisition | 163 |
Purchase consideration | $ 227 |
Reverse Recapitalization - Addi
Reverse Recapitalization - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Disclosure of Reverse Recapitalization on Identifiable Net Assets Acquired [Line Items] | |
Share listing and associated expenses | $ 353 |
Contingencies and Commitments -
Contingencies and Commitments - Summary of Significant Contractual Obligations and Commitments (Detail) - Noncancellable purchase obligations $ in Millions | Dec. 31, 2022 USD ($) |
Disclosure of Maturity Analysis of Operating Lease Payables [Line Items] | |
Lease payments to be paid | $ 729 |
Less than 1 year | |
Disclosure of Maturity Analysis of Operating Lease Payables [Line Items] | |
Lease payments to be paid | 505 |
1 to 5 years | |
Disclosure of Maturity Analysis of Operating Lease Payables [Line Items] | |
Lease payments to be paid | $ 224 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions | Feb. 28, 2023 | Dec. 31, 2022 | Jan. 31, 2022 |
Subsequent Events [Member] | |||
Disclosure of detailed information about business combination [line items] | |||
Prepayment of term loan financing | $ 600 | ||
Jaya Grocer [Member] | Major business combination [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting interests acquired | 25% | 75% |