When Uber and Grab first drove up to Singapore’s sunny shores, many rejoiced at cheaper taxi fares and an end to the monopoly that taxi companies had enjoyed. Unfortunately, with the rumours that Grab might acquire some of Uber’s Southeast Asian (SEA) business, history might just repeat itself. Grab supposedly will buy Uber’s operations in certain SEA markets and in turn, Uber will take a stake in Grab. While much of the information in the news is speculation, the government is still looking to review regulations controlling taxis and private-hire cars to prevent a monopoly. Such a monopoly could lead to a possible increase in price, reduced standard in service and perhaps even a deterioration in working conditions for drivers. For us…it could mean no more cheap rides to Engine’s McDonalds or Clementi Mall.
Written by Mertice Ho