Singapore To Review Ride-Hailing Regulations, Grab And GoTo On The Radar
Portfolio Pulse from Anusuya Lahiri
Singapore's Land Transport Authority is considering new regulations for ride-hailing companies like Grab Holdings Ltd (NASDAQ:GRAB) and GoTo. The focus will be on supply availability, resilience, inclusivity of services, and adoption of clean-energy vehicles. The number of daily rides in Singapore increased to 613,000 in July 2023 from 517,000 in November 2020. The review is expected to be completed by Q2 2024. Both Grab and GoTo are struggling to break even due to intense competition across Asia.
September 14, 2023 | 10:40 am
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Grab Holdings Ltd could be impacted by Singapore's potential new regulations for ride-hailing companies. The company is already struggling to break even due to intense competition across Asia.
The potential new regulations in Singapore could add additional challenges to Grab's operations in the country. This, combined with the company's existing struggles due to intense competition, could negatively impact its financial performance and, consequently, its stock price.
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