Grab plans S$0.30 platform fee but timing draws flak; CCCS seeks feedback
Singapore
GRAB has applied to Singapore's competition watchdog to impose a platform fee - a move that will put it in line with other ride-hailing firms around the world, which are already charging fees of S$0.70 to over US$2 per ride. The proposal is undergoing public consultation, after having its hands tied by competition requirements following its merger with Uber in 2018.
The proposed fee amounts to S$0.30 for each ride, or S$0.32 with goods and services tax. In its submission to the Competition and Consumer Commission of Singapore (CCCS), Grab observed that this practice is in line with industry norms and "does not represent a disproportionate increase in fares".
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
High Court dismisses bid by co-founder and CTO to liquidate Cake Group
Semiconductor unicorn Silicon Box vows to avoid geopolitical mire
A cheat sheet of startup and tech M&As in South-east Asia
Zilingo ex-CEO’s criminal complaint is retaliation against whistleblowers: source
Gojek and ComfortDelGro Taxi to send untaken rides to each other’s platforms
SG fintech firm Bambu shuts down after missing profit targets, says founder