Singapore Business Review
Quest Ventures provided commentary on the decision by the Competition and Consumer Commission of Singapore (CCCS) to fine Grab and Uber for their merger that it deemed anti-competitive.
“Quest Ventures senior analyst Jasmine Toh noted that the situation is that Uber has left the scene, and the remedies, if any, are only applicable to Grab. “Singapore’s taxi landscape, lethargic for too long, was shaken up when there was competition,” she said.
“Our hope is that even with reduced competition, these taxi companies will not stop their efforts to innovate to meet today’s customers’ needs. If they do slow down or stop delivering what consumers want, new competitors will surely emerge to eat their lunch,” Toh added.”