GP Network Asia Pte Ltd is a company incorporated in Singapore. The company's principal place of business is 28 Midview City, Sin Ming Lane #01-143 Singapore.
GP Network Asia Pte Ltd and its subsidiaries are primarily involved in other financial service activities, except insurance and pension funding activities. GP Network Asia Pte Ltd is believed to represent the operations of GrabPay and other related services offered by Grab. GrabPay refers to a collection of all cashless payment methods, including credit and debit cards, partner wallets like PayPal and your GrabPay balance. GrabPay Wallet is a mobile wallet that contains a topped up balance that can be used towards your purchases.
For loyalty programs, revenue is recognised at a point in time when the customers redeemed their loyalty points or upon expiry of the loyalty points, whichever is earlier.
The immediate holding company and ultimate holding company are Grab Inc and Grab Holdings Inc, respectively. These companies are incorporated in the Cayman Islands.
On 17 January 2018, GP Network Asia Pte Ltd acquired 50% of the shares and voting interests in PT Bumi Cakrawala Perkasa. On 31 January 2019, a subsidiary of the company, PT Bumi Cakrawala Perkasa (BCP), acquired 99% of the shares in PT Indonusa Bara Sejahtera for a consideration of SGD34.43 million.