SINGAPORE (July 6): Grab says that it has considered Singapore’s Competition and Consumer Commission’s (CCCS) decision and disagree with their analysis.
This came on the back of the CCCS saying on Thursday that the merger of Grab and Uber has significantly lessened competition in the ride-hailing business in Singapore and its proposal to fine the two parties.
See: Singapore says Grab-Uber merger lessened competition, proposes penalties
In an email to The Edge Singapore on Thursday, a Grab spokesperson said, “The CCCS appears to have taken a very narrow approach in defining competition.”
Grab stresses that although they are one of the most visible players in transport they are not the only player in the market, as the CCCS has not taken into account the dynamic developments and intense competition going on over the past few months, from both new and incumbent taxi and ride-hailing players in Singapore.
“Even though not required by the law, we had informed the CCCS that we were making a voluntary notification, as well as proactively engaged with the CCCS before the transaction was signed. We conducted the acquisition legally and in full compliance with Singapore’s applicable competition laws,” says Grab.
The ride-hailing group says that it has fully cooperated with the CCCS throughout the course of their review and had even proactively proposed voluntary commitments over and above the Interim Measures Directions (IMDs), to ensure consumers’ and drivers’ interests are taken care of, which the CCCS had rejected.
In addition, Grab has complied with all areas of CCCS’ IMDs including maintaining base fare levels, surge factor and driver commission rates.
Hence, the group believes that this provisional decision and proposed remedies are “overreaching and go against Singapore’s pro-innovation and pro-business regulations in a free market economy”.
“We note that the provisional decision is not final or effective yet, and we will submit our written representations to the CCCS before the deadline. We will take all appropriate steps to appeal against this decision," said Grab.
