Shortly after the release of a statement from the competition watchdog, the Competition and Consumer Commission of Singapore (CCCS), Grab released a statement of their own, saying that they “disagree with [the] analysis” of the CCCS.
In Grab’s statement, they add that “The CCCS appears to have taken a very narrow approach in defining competition”, and the ride-sharing firm said that the CCCS has not taken into account the competition happening over the past few months.
Addressing the merger with Uber, Grab said that “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”.
The Grab spokesperson also added that during a review conducted by the CCCS, they co-operated fully and even proposed voluntary commitments which went beyond the Interim Measures Directions (IMDs).
In a point which riders and drivers alike may disagree with – in their statement Grab also said that they maintained “base fare levels, surge factor and driver commission rates”.
Grab concluded their statement saying 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”.
Send in your scoop to email@example.com