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Malaysia legalizes e-hailing services as Grab, Uber compete

KUALA LUMPUR: Malaysia's parliament on Thursday passed two bills that will legalize e-hailing services, as ride-hailing firms Grab and Uber race to expand in the region. Grab expects to raise $2.5 billion from investors in a bid to extend its lead over Uber in the region, as major companies aim to tap into Southeast Asia's developing economies driven by a young and tech-savvy population. The amendments to Malaysia's Land Public Transport Act and the Commercial Vehicles Licensing Board (CVLB) Act will allow ride hailing…