Singapore slapped ride-hailing firms Grab and Uber with fines and imposed restrictions on their operations open up the market to competitors. They fined Grab $6.42 million and Uber $6.58 million.
Uber said in the statement –
“Our objective is not to challenge the remedies of the decision, which are in fact almost identical to the commitments that Uber and Grab voluntarily offered to the CCCS.”
Uber said that they were making the appeal independently of Grab, as a matter of principle. Grab did not provide immediate comment. Only its Singapore head made a comment on the decision.
Head of Grab Singapore, Lim Kell Jay said in the statement –
“Grab will not be appealing the CCCS’S decision. We are committed to operating in an environment that best serves our customers. We are now fully focused on improving the Grab experience for users, partners, and merchants.”
Uber disputed the CCCS’ allegation that Uber knew that the transaction infringed the law but nevertheless moved ahead.
They said that –
“To the contrary, our view has always been that in a properly defined market – including at the very least ride-sharing, street-hail taxis, and new entrants – the transaction respects the law and does not raise significant concerns.”
They pointed to Go-Jek’s impending entry into the city-state, saying the Indonesian ride-hailing company would make for a formidable competitor.
Uber sold its South-east Asian business to bigger regional rival Grab in March in exchange for a 27.5% stake in the Singapore-based firm.
The Philippines’ competition watchdog fined the two firms. They consummated their merger early and the quality of service had suffered.