Grab’s entry into taxi sector given green light on organic growth: CCCS, LTA
Regulators say move increases competition, in contrast to the ride-hail giant’s previous effort to acquire Trans-cab
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[SINGAPORE] Ride-hail and delivery giant Grab’s entry into the taxi sector was approved because it intends to start a new taxi fleet rather than acquire an existing one, regulators said on Wednesday (Apr 2).
Meanwhile, industry observers said the move would increase competition in the sector, possibly benefiting commuters and drivers, though some warned that the potential for anti-competitive behaviour remains.
In a surprise announcement on Wednesday, the Land Transport Authority (LTA) said it had issued a street-hail service operator licence (SSOL) to GrabCab, a subsidiary of Nasdaq-listed Grab Holdings.
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