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Author: Honors Insight

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Tanah Aina Earns Prestigious Recognition at World Achievement Association 2024

August 14, 2024

Competition Watchdog Warns Grab's Acquisition of Trans-cab Could Harm Rivals Singapore - The Competition and Consumer Commission of Singapore (CCCS) has expressed concerns that Grab's plan to acquire taxi operator Trans-cab will significantly undermine competition. In a media release on Thursday (Jul 11), CCCS stated that both drivers and passengers might face higher prices if Grab's competitors are weakened due to the acquisition. This could also reduce the variety of ride-hailing services available. CCCS highlighted that Grab acknowledges the acquisition will likely enable significant savings on driver incentives compared to other methods of increasing driver supply. In its provisional decision, CCCS concluded that the acquisition is likely to substantially lessen competition in the ride-hailing market, potentially violating Singapore's competition laws, which prohibit anti-competitive mergers. Grab and Trans-cab have 10 working days to respond to the issues raised by CCCS, after which a final decision will be made on whether to block or approve the deal. Announced last July, the acquisition involves Singapore's third-largest taxi operator, Trans-cab, which has over 2,500 vehicles. The deal includes Trans-cab’s taxi and car rental business, maintenance workshop, and fuel pump operations. The companies have stated that the transaction will be executed through Grab's private-hire car rental arm, Grab Rentals.

Business

Competition Watchdog Warns Grab’s Acquisition of Trans-cab Could Harm Rivals

July 11, 2024

Attorneys Seek $7 Billion for Halting Elon Musk’s Tesla Payout

Business

Attorneys Seek $7 Billion for Halting Elon Musk’s Tesla Payout

July 10, 2024

Singapore Banks to Replace OTPs with Digital Tokens Over Next 3 Months

Tech

Singapore Banks to Replace OTPs with Digital Tokens Over Next 3 Months

July 9, 2024

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GP Rajasa Encourages Active Participation in National Economic Development

June 4, 2024

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Inspirational Couplepreneur Esteemed Dato’ Sri Paduka Diraja Siti Nur Atiqah Binti Dato’ Seri Baba Wins ASIA EXCELLENCE CHOICE AWARD 2024

May 23, 2024

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Lia Istifhama Receives Indonesia Next Future Leader 2024 Award: An Inspiring Achievement

May 17, 2024

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Noble Skincare Brand from Majalengka Wins Top Brand Award

May 17, 2024

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LS Skincare Reborn Shines as Top Brand Skincare 2024

May 17, 2024

Economy

Combatting the Surge in Online Loan Scams: Adakami Shares Tips for Protection

April 30, 2024

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