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Old 23-05-2018, 04:05 PM   #2521
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https://www.channelnewsasia.com/news...romos-10253762

The Big Read: When the music stops, Uber-less reality hits commuters and drivers
Read more at https://www.channelnewsasia.com/news...romos-10253762

SINGAPORE: These days, Ms Charissa Kow, 25, who frequently takes a Grab ride from her house in Woodlands to her workplace in Alexandra Road, finds herself spending S$20 to S$25 for the 16km trip — or up to one fifth more than what she used to spend less than two weeks ago

Another commuter, Mr Bok Chek Yang, laments that fares for short trips on Grab have also increased since early this year. "A 10-minute ride within my estate in Bedok has gone up to S$8 … but for the same trip, it was only S$6 last year," said the 38-year-old administrative coordinator.

Private-hire car drivers are feeling the pinch too. Mr Muhammad Syahmi, 25, used to rake in between S$100 and S$200 a day as a private-hire car driver for Grab after deducting commission, petrol costs and rent, but his income has fallen by as much as 50 per cent — largely due to a reduction in incentives doled out by the ride-hailing firm.

Recalling how he used to be able to take home a bonus of S$620 for completing 60 peak-hour trips, he said:

"That was the incentive for a good six, seven months last year but recently, completing the same amount of peak-hour trips would only give me an additional S$130."

With his earnings taking a hit, being a full-time Grab driver is no longer an attractive proposition. He intends to stop driving soon and get another job.

For five years, long-suffering commuters and taxi drivers in Singapore could hardly believe their luck as the taxi industry was turned on its head by ride-hailing firms.

Commuters enjoyed low fares — sometimes rides were even free, thanks to generous promotions and discounts — and complaints of not being able to get a ride during rainy days or peak hours became a distant memory.

Droves of taxi drivers, as well as others, also flocked to Grab or Uber which offered flexible hours and attractive earnings as they duked it out and hired drivers aggressively in a bid to gain market share quickly.

Several commuters interviewed said they were forking out about S$3 to S$5 more for each Grab ride these days, mainly because the firm no longer dishes out discounts and promotional codes like it used to.

However, Grab has maintained that its fare structure "remains the same" after it bought out Uber's regional operations.

In reply to queries about the commuters' experience with higher fares, a Grab spokesperson would only say that fares are determined by demand and supply.

The spokesperson said: "Dynamic fares continue to be calculated based on a base distance, with a dynamic surcharge that will be applied based on factors including demand and supply in that particular point in time, traffic conditions and estimated time taken for the journey."









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Old 24-05-2018, 04:20 PM   #2522
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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   #2523
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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   #2524
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heng yesterday sold all off at 245....
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Old 25-05-2018, 05:45 PM   #2525
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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."
This seems good news for me.
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Old 25-05-2018, 06:17 PM   #2526
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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   #2527
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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   #2528
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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   #2529
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Old 25-05-2018, 10:35 PM   #2530
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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   #2531
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https://www.businesstimes.com.sg/com...h-private-hire

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Old 29-05-2018, 10:38 AM   #2532
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https://www.businesstimes.com.sg/tec...hailing-market
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Old 29-05-2018, 10:38 AM   #2533
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Jobs have gone to foreigners instead
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Old 29-05-2018, 12:02 PM   #2534
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Is uptrend now.
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Old 30-05-2018, 08:43 PM   #2535
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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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