According to this article in the Wall Street Journal:
More cash is pouring into the increasingly competitive ride-hailing business in Asia, fueling local competitors to global market leader Uber Technologies Inc.
Southeast Asia-focused ride-hailing app GrabTaxi is getting an infusion of over $200 million in fresh capital in its latest fundraising round led by U.S. hedge fund Coatue Management LLC, according to a person familiar with the situation. The investment values the company at over $1.5 billion including the fresh capital from the latest fundraising, according to the person.
USD 1.5 Billion is equivalent to RM 5.7 Billion, clearly higher than the current marketcap of AirAsia, which is RM 4.4 Billion.
Is that really fair, if we look at revenue, profits, assets, barriers to entry (landing rights) etc?
I have doubts about that, but time will tell.
Regarding a company operating in the same industry (but on a global level), Uber, an article asks the question:
"Uber is seeing $470M in operating losses: Can it ever be profitable?".