eOASIS is Rajah & Tann Singapore LLP's legal information website for clients, containing business and legal information prepared from a practitioner's viewpoint. It has four different modules, updated regularly, and materials range from commentaries on the latest legal developments to key legal and business information.
2018 is now into its second half and continues to see competition regulators active. The issues which come up for attention are not limited to those in ecommerce and cuts across multiple industries. Several of the Southeast Asian regulators have also grown more sophisticated and have been taking on more complex cases, handling difficult issues. The Grab-Uber merger is one such example, where Singapore has proposed imposing financial penalties alongside various commitments. Read on if you don’t want to miss out on the latest developments in competition law around the globe.
On 5 July 2018, the Competition and Consumer Commission of Singapore ("CCCS") announced that it had issued a Proposed Infringement Decision ("PID") against Grab and Uber in relation to the sale of Uber's Southeast Asian business to Grab in consideration of Uber holding a 27.5% stake in Grab ("Transaction"). The CCCS's provisional finding is that the Transaction has led to a substantial lessening of competition in the market for the provision of ride-hailing platform services in Singapore. Under the PID, the CCCS proposes to impose financial penalties on the merger parties (a first since the merger regime was introduced in 2007), together with various remedies. This Update provides a summary of the CCCS's provisional findings and proposed recommendations.
On 5th July 2018, the Singapore government announced new property cooling measures – the rates for Additional Buyer's Stamp Duty would be raised and the loan-to-value limits granted by Banks would be reduced. Our article explores the key changes of the new measures which take effect from 6th July 2018, as well as the implications of the changes.