Uber

Briefs

SINGAPORE (May 20):

The sheer size of China’s reserves, and that this is even becoming a conversation, means the market should take it seriously.”Torsten Slok, chief international economist at Deutsche Bank. Many clients have been asking him whether China, the largest holder of US Treasuries, is starting to dump its holdings, estimated at US$1.12 trillion.

US should accept China’s rise, says Singapore

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Why investors should avoid hitching a ride on Uber's IPO

SINGAPORE (Apr 22): Investors who found some way to short the stock of Lyft, the No 2 ride-hailing player in the US, have had a great ride since its IPO three weeks ago. Lyft’s stock plunged to US$56.11 on April 15, down 22% from its IPO price, or 35% below its first trading day highs.

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Briefs

SINGAPORE (Apr 15): “The patience of Ecuador has reached its limit on the behaviour of Mr Assange.”Lenín Moreno, Ecuador’s president, on the decision to allow UK police to arrest WikiLeaks founder Julian Assange, who faces accusations of rape. Assange has called Ecuador’s embassy in London home since 2012.

UK and EU agree to delay Brexit until Oct 31

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Grab, GoJek, Didi and why it's hard to find winners in the few really successful EMs

SINGAPORE (Feb 18): They say there is no such thing as bad publicity. For GoJek, at least, the recent altercation between one of its drivers and a female passenger, who turned the phrase “Is it because I’m Chinese?” into a popular meme, has arguably done more to promote its brand than any carefully crafted marketing plan could have.

Grab raises US$150 mil from Yamaha

SINGAPORE (Dec 17): Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.

Yamaha Motor Co. agreed to invest US$150 million ($205.7 million) in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer said in a statement Thursday.

Ride-hailing rivalry, goodies unlikely to return to 'good old days'

SINGAPORE (Oct 31): DBS Group Research says the competition and level of subsidies seen during the Grab vs Uber era are unlikely to return.

This is because the outcome of the first round of competition has not been particularly smooth for the players and the acquisition of Uber’s Singapore operations by Grab had resulted in fines by the competition watchdog.

On Monday, Grab’s next rival Go-Jek started pre-registration for drivers in Singapore, with about 1,000 potential drivers having signed up, according to media reports.

Singapore's competition watchdog fines Grab and Uber but can fair play resume?

SINGAPORE (Oct 1): Choo was earning up to $5,000 a month when he first started driving for ride-hailing start-up Grab some three years ago. But after a merger between Grab and Uber Technologies in March this year, the 66-year-old, who asked to be identified only by his last name, has seen his monthly earnings nearly halved. And Choo is not alone. According to the Competition and Consumer Commission of Singapore (CCCS), it has received numerous complaints from both riders and drivers on the increase in effective fares and commissions by Grab following the merger.

Competition watchdog slaps $13 mil fine on Grab, Uber over merger

SINGAPORE (Sept 24): The Competition and Consumer Commission of Singapore (CCCS) has fined Uber and Grab a total of $13 million after the merger of the ride-hailing firms was judged to have led to a “substantial lessening of competition”.

Grab in March acquired Uber’s Southeast Asian business, which saw the integration of Uber’s regional ride-sharing and food delivery business into Grab’s existing multi-modal transportation and fintech platform.

In exchange, Uber took a 27.5% stake in Grab, with CEO Dara Khosrowshahi joining Grab’s board.

Grab defends position in Uber deal to Singapore's anti-monopoly watchdog

SINGAPORE (July 27): Grab said on Friday it disagreed with the Singaporean anti-monopoly watchdog’s assessment that its takeover of Uber’s operations had harmed competition and called the commission’s suggested measure of removing exclusivity arrangements with drivers as “one-sided”.

Earlier this year, Uber Technologies sold its Southeast Asian business to bigger regional rival Grab in exchange for a stake in the Singapore-based firm. But the deal has prompted regulatory scrutiny.

ComfortDelGro's exit from Uber tie-up comes as no surprise, says CGS-CIMB

SINGAPORE (May 28): CGS-CIMB Research is maintaining its “hold” call on ComfortDelGro with an unchanged target price of $2.37 after announcing it was parting ways with Lion City Rental (LCR), Uber’s wholly-owned car rental subsidiary, in Singapore.  

This comes after ComfortDelGro last week said it would no longer be acquiring a 51% stake in Lion City Holdings, the operator of LCR, following Uber’s exit from the Southeast Asian market after its acquisition by its rival, Grab.

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