CCCS in 2018 fined Grab and Uber a combined S$13 million (US$9.76 million) after Grab failed to notify it of its merger with Uber, which substantially reduced competition in Singapore.
Last year, Grab called off its proposed acquisition of Singapore’s third-largest taxi operator, Trans-cab.
The commission said it can impose penalties of up to 10 per cent of the turnover of a company’s business in Singapore for each year of infringement, up to a maximum of three years, if a company is found to have breached competition laws.
“Directions can be made under the law to remedy, mitigate or eliminate the adverse effects arising from the merger, including unwinding the merger,” it said.
Where necessary, the CCCS could impose interim measures to preserve market competition, it added.
Grab said it would not comment on rumours or speculation. GoTo said it has no comment beyond its latest disclosure to the stock exchange on Wednesday.
Shares of GoTo dropped 2.4 per cent in Indonesia, underperforming the broader domestic benchmark stock index which rose 1.5 per cent.
-2.jpg?itok=dQeiGCso "Work It – How do you deal with subordinates who don’t want to take on extra work")
