Why Grab can give finger to Singapore government

Singapore market is irrelevant to Grab.

SoftBank will soon increase its commitment to Grab by pouring an additional $500m into the south-east Asian ride-hailing company, after the Singapore-based firm announced it is looking to raise about $1bn before the end of the year.

FT

Remember

Singapore’s competition watchdog has fined Grab and Uber a total of S$13 million over their merger, saying that the deal has led to the substantial eroding of competition in the ride-hailing market.

Read more at https://www.channelnewsasia.com/news/singapore/grab-uber-fined-after-merger-deal-competition-watchdog-10751522

And this is a lot of bull

The fall from grace of “digital darling” Grab serves as a cautionary tale for digital disruptors, after its Uber takeover left riders and drivers up in arms over price hikes and lower incentives.

https://www.todayonline.com/singapore/fallen-grace-grab-could-learn-hard-way-if-it-does-not-change-its-ways-report

But what to expect from constructive, nation-building media?

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor.

 

 

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12 Responses to “Why Grab can give finger to Singapore government”

  • No Interested:

    I am actually not interested in CI post.
    So I will give him my disinterested face :-(

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  • LIONS:

    At the end,it is sgs cannibalising each other as taxi uncles after they have been robbed of their jobs as PMEs caused by FT POLICY?

    SGS,wake up or be farked up?

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  • LIONS:

    And,oh what A bigLEE WAY TO GO?!
    OXFAM ranks The $in City at 149 on INEQUALITY INDEX,AT THE BOTTOM 10?!

    LEE AH LONG MUST TAKE CREDIT.
    HIS DAD SAID THE POOR SGS ARE TOO GREEDY TO BE HELPED.
    LEE AH LONG N HIS MOTLEE crowd help them$elves n their lackey$ to become even richer….we are among HIGHEST GDP PER CAPITA ,mind you?!!!

    And,they splash on F1,GARDENS BY THE BAY OF PIG$,FT-SCHOLATSHITS N WHATNOT$,EXCEPT ON THE POOR N NEEDY sgs!

    Here not only NO SOCIAL PROTECTION,HERE THE COMMON sgs kena SOCIAL MENACE?!

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  • HarderTruths:

    Hahaha

    I was so happy that Grab and Uber showed up.

    Taxi drivers were so sure their rice bowl would never be taken away.

    Did they listen to KJ? Too late. They’re fu*ked.

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  • opposition dude:

    All that CCCS has shown is that Grab is a major pain in the arse for Comfort. Sure, you can fine them to make a statement but so what, it does not remove the thorn for Comfort.

    I hope Grab has something else up its sleeve to deal with Comfort. It’s popular enough with the general public so I hope they can enhance and improve on it. I wait for the day when Comfort’s fleet gets reduced and, like SPH, it reports quarter after quarter of losses.

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  • Rabble-rouser:

    Ride-share app companies like Grab & the now-departed Uber aren’t “very high” technology companies & don’t have much in proprietary content in the area of “Smart” technology in their eco-system. In truth, they don’t elevate the well-being of society but are labour & financial exploitative companies.
    If we were to use Market Strategy studies & Key Business Analyses to decifer their operating model & business strategy – their digital platform can be easily replicated by any low-level programmers into a smartphone app. They, in other words, have relatively low barriers of technological entry, no strong business strategy nor sustainable inputs that could create an endearing business eco-system.
    What do I mean? Look at their business model! They rely on exploiting their service providers (the drivers); shift operating asset risk onto 3rd party (individuals using their private cars for hire under hire purchase financing); rely on investors’ monies (from venture capital, subsequent rounds of investors funding) to grow ridership using a variety of subsidies & cashback plans to gain market share at the expense of the taxi companies. How can they be sustainable? They rely on consistent investor funding until it is ripe for an IPO – The operators & early investors would then shift the company shares to unwary IPO investors saddling them with an unsustainable business model that requires regular doses of funding (shareholders cash calls) to keep it going.
    Look at how quickly those bike sharing companies disintegrated after a short period of growth, then many new entrants jumped in (because their business model had low entry, low barriers & easily teplicable) & subsequent exits when investor funding dried up while their business model can’t generate sufficient cash-flow. In China, a number of bike share companies’ bikes flooded the landfills awaiting to be turned into scrap metal. And their investors monies became unrecoverable – wasted capital & total loss.
    The same goes for apartment sharing (AirBnB), food delivery mechanism (Deliveroo, Food Panda, Uber Eats, etc). Apartment sharing went through a situation where the apartment were matched with unscrupulous renters – their apartments used as party venues & were thoroughly trashed by the revellers. Recently, a food deliverer was caught on CCTV eating from the meal he was delivering.
    For ride-share apps, the paradigm shift will be autonomous vehicles technology. This would kill off vocational drivers & render the last resort of earning a living a gone case. Then, what becomes of S’pore?

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  • UniQ:

    Why don’t anyone asked :

    WNO OWNS GRAB ??

    LOLOLOLOLOL

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  • Shock:

    Recently the price quoted on Grab was $40 and the same ride on Comfort was only $19.
    Something is very wrong here….

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  • rukidding:

    Comfort is “too comfort” already !

    This PAPPY “Cheng Hu” also “talks BIG” for too long a time !

    This kind of software seems so easy to create …..even an Indon like GO Jet can “replicate” ???

    What are the people at LTAa, aNTUC ,NU”aSS” and “aNTi”U doing ????

    It is really a “laughing stock” for NTUC COMFORT to be “behind grab” when it had ALL THE CONTACTs and CONNECTION to make its own software ???

    Anyway,….looks like “this group” of people only know how to buy and use “standard software”….MUCH like PAPPY TOWN COUNCILs who used to be using a S$2 Paid UP company called AIMs to help “manage” its Town Council accounts.????

    BUT the BIGGEST JOKE OF ALL was….these PAPPY TOWN COUNCILs actually paid THOUSANDs and THOUSANDs of $$$$ to these S$2 company ?????

    Don’t believe me ?…..go ask Mr COW …he knows best !

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  • Rabble-rouser:

    @ UniQ:
    I think you know, mate! But good one! People in the TRE eco-system rant & rave without seeing the ‘real picture’. It’s the family from Tan Chong Holdings Bhd (from M’sia).

    UniQ:
    Why don’t anyone asked :

    WNO OWNS GRAB ??

    LOLOLOLOLOL

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  • Bystander:

    Is CI trying to act stupid?
    Good grief, Temasek Holdings among Grab’s biggest sharehilders ah.
    Shitty article. Fine $15m are peanuts, must wayang a bit to appease taxi drivers what.
    Stupidity really no cure, these cab drivers.

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  • Bbc:

    Rabble-rouser:
    @ UniQ:
    I think you know, mate! But good one! People in the TRE eco-system rant & rave without seeing the ‘real picture’. It’s the family from Tan Chong Holdings Bhd (from M’sia).

    One of the cofounders is tan chong offsprings and another daughter of a stockbroker mother. Both were course mates at harvard.

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