Singapore’s antitrust regulator, the Competition and Consumer Commission of Singapore (CCCS) has threatened Uber Technologies and Grab that it could potentially unwind their deal unless its proposed remedies, or any further remedies, have sufficiently been able to address competition concerns and are practically implementable. On Thursday, in a blow to the Grab-Uber deal, Singapore’s antitrust…
Grab Ventures will be the vehicle through which Singapore-based Grab will expand beyond ride hailing services into areas including financials, food services and logistics. On Tuesday, Singapore-based Grab, launched launched its innovation arm, Grab Ventures in order to support and develop technology start-ups in sectors including food services, transport, financial services, logistics. The development assumes…
Malaysia will be the second market in which Grab has launched its e-wallet service. On Monday, both Grab and Malaysia’s biggest bank, Malayan Banking Bhd stated, they will collaborate to boost the adoption of the ride-hailing firm’s GrabPay mobile wallet. In the coming weeks, Grab, which received its e-money license from Bank Negara Malaysia in…
Uber Technologies’ deal to sell its Southeast Asian operations to rival Grab, announced earlier this week on Monday, is drawing flak from Singapore’s Competition Commission since it allegedly violates the country’s competition rules. On Friday, Singapore’s antitrust regulators said, it had grounds to believe that ride-services firm Uber Technologies Inc’s efforts to sell its Southeast…
Although this is Uber’s second such retreat from Southeast Asia, the deal suggests that Uber is taking a defensive positioning for a potential counter-offensive especially with its CEO Khosrowshahi gaining a foothold in Grab’s board. On Monday, in a move that marks Uber Technologies Inc’s second retreat from the Asian, the ride services firm has…
The strategic move by Hyundai Motor marks a growing trends towards collaborating with strategic partners rather than develop technologies by itself. On Thursday, Hyundai Motor Co stated it has invested an undisclosed amount in Singapore-based ride-hailing firm Grab marking its first ever foray into the fast burgeoning sector as it tries to diversify its sales…
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