6 months ago
TEMPO.CO, Jakarta - Nasdaq-listed ride hailing company Grab's (GRAB.O), deal to buy Singapore's private taxi firm Trans-cab Holdings is likely to result in substantial lessening of competition in the local market, the city-state's competition watchdog said on Thursday.
Southeast Asian firm Grab had in July 2023 agreed to buy Singapore's third-largest taxi operator without giving out a specific deal value though local media had then speculated the deal could be valued at around S$100 million ($74 million).
The Competition & Consumer Commission of Singapore said in a statement on Thursday that ride-hail platforms which operate as rivals to Grab would be deprived of drivers who work for Trans-cab, in case the deal goes through.
The deal might thereby result in a "greater degree of 'stickiness' of Trans-cab drivers to Grab's ride-hail platform", the regulator said, adding the proposed acquisition might potentially reduce usage of Grab's rivals.
Grab and Trans-cab did not immediately respond to Reuters' requests for comments.
($1 = 1.3473 Singapore dollars)
REUTERS
Editor's Choice: Industry Ministry Backs Trade Ministry's Plan to Form Task Force Against Illegal Imports
Click here to get the latest news updates from Tempo on Google News
Top 8 Safest Countries in the World in 2024; Europe Dominates
19 jam lalu
The level of safety in a nation is not just determined by crime rates. Read on to unveil the top 8 safest countries in the world in 2024.
Tokyo Residents Seek to Block Building of Massive Data Center
19 jam lalu
A group of residents in Tokyo says they are aiming to block the construction of a massive logistics and info center planned by a Singaporean developer
Singapore Listed as Country with Strongest Passport, Here's How the Rest of Southeast Asia is Ranked
1 hari lalu
Singapore currently holds the title of the most powerful passport in the world.
7 Cities with Top-Notch Public Transportation for Urban Adventures
2 hari lalu
This article unveils the top 7 cities that residents consistently praise for their public transportation systems.
Population Crisis: A Look at Some Countries' Policies to Combat Falling Birth Rates
3 hari lalu
Some countries have experienced low birth rates and have taken various anticipatory steps.
Singapore Introduces 7 New Travel Experiences
6 hari lalu
The Singapore Tourism Board recently announced new tourism products. Read on to explore a collection of exciting experiences to add to your itinerary.
Korean Air Adjusts In-flight Meal Service Amid Rising Turbulence Incidents
6 hari lalu
South Korean flag carrier Korean Air recently decides to adjust its in-flight meal policy on medium and long-haul flights to prioritize safety.
7 Tips for a Speedy Airport Security Check
6 hari lalu
Airport security is essential for safe travel, but long lines and delays can be frustrating. Here are seven tips to streamline the security process.
Commemorating Racial and Religious Harmony Month, Harmony Fest! 2024 is Back in Singapore
7 hari lalu
Commemorating Racial and Religious Harmony Month, Harmony Fest! 2024 is back for its second iteration at the Singapore Sports Hub.
Passengers from Diverted Air Europa Flight Recount Turbulence Ordeal
8 hari lalu
A passenger from an Air Europa flight diverted to northeastern Brazil on Monday, July 1, due to severe turbulence.
English (US) · 
Indonesian (ID) · 