Singapore: Issued CCCS provisional decision on Grab's proposed acquisition of Trans-cab

On 11 July 2024, the Competition and Consumer Commission of Singapore (CCCS) issued a provisional decision regarding Grab Holdings Limited's proposed acquisition of Trans-cab Holdings Ltd. through GrabRentals Pte. Ltd. The CCCS notes that the acquisition may significantly lessen competition in Singapore's ride-hail platform market, potentially infringing on section 54 of the Competition Act 2004. The CCCS's analysis indicates that Grab's dominant market position could be further entrenched, disadvantaging drivers and passengers by limiting competition. The acquisition is seen as likely to reduce the availability of drivers for rival platforms, increase costs for drivers and passengers, and decrease service choices. The parties have 10 days to propose solutions to address these competition concerns before a final decision is made.