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Old 24-05-2018, 04:20 PM   #2521
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https://www.straitstimes.com/busines...ext-few-months

Indonesian ride-hailing firm Go-Jek to enter Singapore, Vietnam, Thailand, Philippines in next few months

SINGAPORE - Indonesia's ride-hailing start-up Go-Jek announced on Thursday (May 24) that it will invest about US$500 million (S$672 million) to move into four new markets in the next four months - Singapore, Vietnam, Thailand and the Philippines.

The move will heighten its rivalry with Singapore-based Grab, which already operates in Indonesia, South-east Asia's largest ride-hailing market.

The expansion into the four countries will start with ride-hailing services, but the company is also aiming to replicate its other services offered in Indonesia to its new markets, Go-Jek added.

It said it is currently working with regulators and other stakeholders across the region to pave the way for the new operations.

Go-Jek also said it will seek out local partners with interests and expertise in each of the new markets.

Go-Jek has reportedly been in talks with Singapore taxi giant ComfortDelGro to explore a tie-up. Both companies said last month they would not comment on rumours or speculation.

Go-Jek raised about US$1.5 billion in a fund-raising round in February, higher than its initial target of US$1.2 billion.

The company said on Thursday that its latest fund-raising round brought investment from Astra International, Google, JD.com, Meituan, Tencent and Temasek among others.

Go-Jek chief executive and founder Nadiem Makarim said: "Consumers are happiest when they have choice, and at the moment, people in Vietnam, Thailand, Singapore and the Philippines don't feel that they're getting enough when it comes to ride-hailing.

"We hope that as we arrive in new markets, we will quickly become everyone's go-to lifestyle app. That is our aspiration. In the meantime, we hope our presence will provide the welcome competition markets need to thrive."
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Old 25-05-2018, 05:34 PM   #2522
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https://www.straitstimes.com/singapo...er-deal-is-off

ComfortDelGro-Uber deal is off

SINGAPORE - ComfortDelGro Corp and ride-hailing firm Uber have agreed to dissolve the strategic agreement that they entered into last December.

As a result, ComfortDelGro will no longer be acquiring the 51 per cent stake in Uber's wholly owned car rental subsidiary in Singapore, Lion City Holdings.

Consequently, the application to the Competition and Consumer Commission of Singapore will be withdrawn.

ComfortDelGro chief executive Yang Ban Seng said: "The operating environment has changed and the basis on which we were supposed to form the partnership is no longer relevant, given that Uber has exited the region.

"Nevertheless, the group still has every intention to go into the private-hire vehicle space as we see the increasing convergence of private-hire vehicles and taxis in the personalised mobility market."
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Old 25-05-2018, 05:41 PM   #2523
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heng yesterday sold all off at 245....
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Old 25-05-2018, 05:45 PM   #2524
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ComfortDelGro-Uber deal is off

SINGAPORE - ComfortDelGro Corp and ride-hailing firm Uber have agreed to dissolve the strategic agreement that they entered into last December.

As a result, ComfortDelGro will no longer be acquiring the 51 per cent stake in Uber's wholly owned car rental subsidiary in Singapore, Lion City Holdings.

Consequently, the application to the Competition and Consumer Commission of Singapore will be withdrawn.

ComfortDelGro chief executive Yang Ban Seng said: "The operating environment has changed and the basis on which we were supposed to form the partnership is no longer relevant, given that Uber has exited the region.

"Nevertheless, the group still has every intention to go into the private-hire vehicle space as we see the increasing convergence of private-hire vehicles and taxis in the personalised mobility market."
This seems good news for me.
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Old 25-05-2018, 06:17 PM   #2525
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heng yesterday sold all off at 245....
I dun find it bad news..
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Old 25-05-2018, 08:19 PM   #2526
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I dun find it bad news..
Maybe this the reason up recently.
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Old 25-05-2018, 10:15 PM   #2527
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Maybe this the reason up recently.
I think the reason up cause of potential GoJek Comfort tie up.

But in all honestly a GoJek Comfort tie up better then undertaking Uber strategic partnership and taking toxic assets
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Old 25-05-2018, 10:20 PM   #2528
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Old 25-05-2018, 10:35 PM   #2529
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heng yesterday sold all off at 245....
I think can go up further

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Old 25-05-2018, 10:55 PM   #2530
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https://www.businesstimes.com.sg/com...h-private-hire

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Old 29-05-2018, 10:38 AM   #2531
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https://www.businesstimes.com.sg/tec...hailing-market
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Old 29-05-2018, 10:38 AM   #2532
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Jobs have gone to foreigners instead
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Old 29-05-2018, 12:02 PM   #2533
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Is uptrend now.
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Old 30-05-2018, 08:43 PM   #2534
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Question ComfortDelGro seeks new M&A options after Uber fallout

ComfortDelGro seeks new M&A options after Uber fallout

https://sbr.com.sg/transport-logisti...r-uber-fallout

Previous reports said it is in talks with Indonesia's Go-Jek.

Last week, ComfortDelGro Corporation (CDG) said it will no longer pursue the $642m deal for the 51%-stake in Uber’s wholly-owned car rental subsidiary in Singapore, Lion City Holdings, which operates Lion City Rental (LCR).

What then for CDG? Analysts have observed that the taxi giant continues to look for mergers and acquisitions (M&A).

Cezzane See from CGS-CIMB noted that the company still intends to enter the private hire vehicle space as it foresees the increasing convergence of private hire vehicles and taxis in the personalised mobility market. “We believe CDG made the move largely to tap on Uber’s private-hire client network and ride-hailing technology, but without that, the tie-up was rendered less attractive,” she said.

See raised the possibility of CDG entering a deal with Indonesia’s ride-hailing giant Go-Jek after the latter announced plans to enter Singapore and invest US$500m in it alongside three other countries.

“Recent local news reports quoted unnamed sources as saying that CDG and Go-Jek are in talks for a tie-up. In our view, Go-Jek’s passive management style could appear to be attractive to CD. However, the reports remain unsubstantiated, hence it is currently too premature to conclude on any possible partnership,” she said.

Maybank Kim Eng analyst John Cheong said in a report dated 14 May that CDG is “actively evaluating” many overseas M&A opportunities to grow its complementary businesses. “However, it remains disciplined on price by assessing the geographical risks and potential synergies,” he added.

Seven M&A deals announced since February 2018 are expected to be completed by the second quarter.
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Old 01-06-2018, 03:38 PM   #2535
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How come suddenly drop
If u scared drop further now is a good time to exit
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