After Grab failed to inform it of its acquisition with Uber, which significantly reduced contest in Singapore, CCCS fined them a combined S$ 13 million ( US$ 9.76 million ) in 2018.
Get canceled its plan to buy Trans-cab, Singapore’s third-largest car operator, next year.
The committee said it has the authority to impose fines of up to 10 % of a company’s churn in Singapore for each year of copyright, up to a maximum of three years, if found guilty of breaking competition rules.
According to the statement,” Information may be made under the law to treatment, mitigate, or remove the negative effects of the consolidation, including unwinding the acquisition.”
The CCCS may take time measures to protect market competition where needed, it continued.
Get stated that it would not make any comments on rumors or debate. Beyond its most recent publication to the stock exchange on Wednesday, GoTo said it has no further remark.
GoTo’s stock dropped 2.4 % in Indonesia, undermining the broader domestic benchmark stock index, which increased 1.5 %.