Dear reader,
The cancellation of Grab’s proposed acquisition of Trans-cab, Singapore’s third-largest taxi operator, marks a significant shift in the competitive landscape of the city-state’s transportation sector.
The decision, prompted by concerns from the Competition and Consumer Commission of Singapore (CCCS), underscores the regulatory body’s commitment to maintaining fair competition and preventing monopolistic dominance.
Grab, Southeast Asia’s leading ride-hailing and food delivery firm, had sought to expand its market share with this S$100 million deal. However, the termination reflects the challenges companies face in navigating regulatory frameworks designed to protect consumer interests and ensure diverse market options.
This development also serves as a reminder for businesses to proactively engage with regulatory authorities when planning acquisitions that may raise competition concerns, ensuring a smoother approval process.
The outcome highlights the delicate balance between business expansion and maintaining a competitive marketplace in Singapore’s evolving transport sector.
Sainul,
Editor.
—
NEWS & VIEWS
Grab no longer buying Trans-cab, Singapore watchdog says
Both parties have withdrawn their application to the Competition and Consumer Commission of Singapore (CCCS); The watchdog had found that competition would be significantly reduced should the transaction go through.
Qoo10’s Korean units face probe due to payment delays to merchants
The country’s Fair Trade Commission has launched an investigation into two Qoo10-owned Ticketmonster and WeMakePrice—for failing to pay out funds to merchants; The two firms collectively owe US$123 million to around 60,000 merchants.
Nasdaq-listed MoneyHero slashes 80 jobs to ‘streamline operations’
MoneyHero CEO Rohith Murthy said this decision is necessary to prepare the company for the future and make it resilient and capable of seizing new opportunities.
Filipino insurtech startup Hive Health nets US$6.5M led by Gentree, BEENEXT
Y Combinator, The Graduate Syndicate, and Oak Drive Ventures also participated; Hive Health offers access to a nationwide network of 1,700+ hospitals, clinics, and dental clinics, with over 60,000 providers.
Brands in Asia Pacific lead in global generative AI rollout: Adobe survey
The Adobe report revealed that 65% of brands in Asia Pacific and Japan have implemented full or initial AI solutions and pilots compared to the US (61%) and Europe (55%).
India’s Jio partners with Taiwan’s MediaTek to tap into two-wheeler EV market
The partnership will bring chips supplied by MediaTek and an Android-based OS along with hardware developed by Jio to electric scooters in India and potentially other emerging markets.
TikTok Lite exposes users to harmful content, say Mozilla researchers
A new report from Mozilla said TikTok Lite, a low-bandwidth version of the video platform popular across Africa, Asia and Latin America, lacks safety features compared to the flagship version of the app.
Musk to discuss US$5B xAI investment with Tesla board
The EV maker looks to double down on efforts to expedite the development of its robotaxi and self-driving products; The automaker is now bolstering its AI infrastructure to train models for Tesla’s autonomous technology.
FEATURES & INTERVIEWS
Using AI on e-commerce analytics: Data quality, availability remain critical obstacles
Data accuracy, cleanliness, and consistency are essential for building reliable AI models for e-commerce analytics.
AI is set to revolutionise how insurance is personalised: discovermarket’s Patrick Bühler
discovermarket CEO says AI is set to revolutionise the insurance experience, enabling a level of personalisation that was previously unimaginable.
In it for the long haul: Why Jungle Ventures likens founder-investor relationship to a marriage
According to Rishab Malik of Jungle Ventures, this relationship is fostered through continuous engagement, transparency, and alignment.
How GXS relies on consumer insights and technology to drive digital banking innovation
GXS develops its digital banking solutions by answering one key question: Does it make sense for the customer?
Echelon X: From past to present: The global growth of remote team systems
Echelon X keynote underscored how remote work enables companies to access diverse talent pools and offer location-independent opportunities.
THOUGHT LEADERSHIP
Friends-inspired strategies: How to keep your customers as loyal as Joey is to pizza
By following these Friends-inspired strategies, your customers will be there for you, just like the iconic theme song promises.
The ultimate guide to succeeding in Vietnam’s startup ecosystem
With resilience, persistence, and a willingness to learn, you can turn your startup dreams into reality in Vietnam’s vibrant startup landscape.
Soft skills: The secret weapon for entrepreneurial success, a roadmap to turn dreamers into doers
The next time you’re captivated by a brilliant idea, remember this: your soft skills will determine whether that idea takes flight or remains grounded.
Rewriting the narrative about motherhood and career: Insights from a female tech leader
Navigating the tech industry as a female minority leader presents unique challenges, often requiring me to prove myself twice as much.
Why ultra-fast EV chargers should delay deployment in Singapore
Singapore currently enjoys a stable electricity grid, yet as a resource-constrained nation, it faces challenges in accommodating rising energy demands.
How to streamline AI development with distributed tech and data architecture
The future of AI is not just about building remarkable systems but doing so in a way that fosters collaboration and innovation among remote teams.
GameFi explained: Impact and growth in the Asian market
GameFi represents a fusion of gaming and decentralised finance, creating new economic opportunities and transforming the gaming industry.
FROM THE ARCHIVES
AirX Carbon turns coffee grounds, rice and coconut husks into bioplastic
AirX Carbon’s biodegradable products are used as shoe soles and in electronic devices, household appliances, and furniture.
How Third Derivative assesses the impact of a potential climate tech investment
Third Derivative already has ideas on how they want to further develop the company impact assessment method in the future.
Can a small business owner be sustainable in a sustainable manner?
As a business owner, I’m always seeking ways to make my business practices more sustainable while maintaining cost-effectiveness.
Otoklix CEO on Indonesia’s upcoming EV aftermarket
Indonesia’s ambitious EV adoption plan underscores the critical need for robust nationwide charging and battery-swapping infrastructure.
Promoting digital payments in the Philippines: Why last-mile communities are key
COVID-19 accelerated digital transformation in emerging markets, but the shift into digital payments is something that it has been aiming for.
PR’s unchanging essence: Human connections amidst AI and automation
While technological advancements streamline PR, it can’t replace human PR professionals’ emotional intelligence and nuanced understanding.
How Gunung Capital CEO puts sustainability agenda at the forefront of an age-old industry
Gunung Capital CEO Kimin Tanoto explains why he believes in finding the middle ground to move the sustainability agenda forward.
Elevandi Exec Director Pat Patel on why crafting AI regulation in SEA demands joint effort
In order for SEA to fully integrate AI in their operations, there are strategies that businesses can implement, starting with regulations.
The art of balancing innovation and regulation: Nurturing the silent revolution
Balancing regulation and innovation is a delicate art of timing, enabling innovations to fully realise their potential.
Infrastructure, talent are some of the challenges finance industry faces in adopting AI: Provenir
Despite increasing use cases, Provenir sees that there are challenges that the finance industry has to tackle to successfully adopt AI.
How art consultant, online gallery The Artling uses AI to pick the best art pieces for your space
The Artling recently introduced Artling Projects, a B2B art sourcing concierge for industry professionals, developed in-house by the company.
The post Ecosystem Roundup: Grab-Trans-cab deal falls through | MoneyHero slashes 80 jobs | Qoo10’s Korean units face probe appeared first on e27.