Singapore ministry of law

Grab logo is seen on a GrabBike driver's helmet in Hanoi. Photo by VnExpress/Dat Nguyen Investigation pointed out that Grab's share in Vietnam exceeds 50 percent of the market after acquiring Uber. The deal between Grab and Uber has shown signs of breaching antitrust laws in Vietnam, according to the investigation conducted by Vietnamese authorities published Wedsnday. Preliminary investigation results showed that Grab's share in Vietnam exceeds 50 percent of Vietnamese market after acquiring Uber, which shows signs of violating Vietnam’s regulation on economic concentration, according to the Competition and Consumer Protection Department (CCPD) under the Ministry of Industry and Trade. Vietnam's Competition Law from 2004 requires that all mergers and acquisitions (M&As) that result in a company gaining over 30 percent of market share must be reported to competition authorities. M&As that result in a company gaining over 50 percent of market share are restricted … [Read more...] about Grab’s acquisition of Uber shows signs of law infringement: Vietnamese authorities

Vietnamese motorbike drivers wearing Grab costumes wait for their customers in Hanoi. Photo by AFP Grab is suspected of breaching Vietnam's antitrust laws. Vietnam is investigating whether Grab violated Competition Law in its recent acquisition of Uber, authorities said on Friday. The investigation will take 30 days and comes after Grab failed to provide adequate evidence to prove that it hasn't formed a monopoly in Vietnam, the Competition and Consumer Protection Department (CCPD) of the Ministry of Industry and Trade said. The ride-hailing firm claimed that its combined market share with Uber in Vietnam is less than 30 percent, so it does not have to “inform to the competition authority before proceeding and completing this transaction in Vietnam.” Vietnam’s Competition Law states that a company that acquires a combined market share of between 30 percent and 50 percent without informing the competition authority will be fined 10 percent of its preceding … [Read more...] about Vietnam opens investigation into Grab’s acquisition of Uber

Grab has not provided adequate evidence to prove that it hasn't formed a monopoly in Vietnam, according local authorities. The company submitted a letter to the Ministry of Industry and Trade on April 5 to explain its acquisition of rival Uber's operations in Vietnam as requested by the Ministry’s Competition and Consumer Protection Department (CCPD). In the letter, Grab claims that its combined market share with Uber in Vietnam is less than 30 percent, so it does not have to “inform to the competition authority before proceeding and completing this transaction in Vietnam." This response has not satisfied the CCPD, which has been looking into the combined market share of Grab and Uber to ensure compliance with regulations on market concentration. The CCPD has notified Grab of Vietnam’s Competition Law, which states that a company that acquires a combined market share of between 30 percent and 50 percent without informing the competition authority will be fined 10 … [Read more...] about Vietnam questions possible Grab monopoly in wake of Uber takeover

Customers and drivers are both worried that ride-hailing firm Grab's acquisition of rival Uber’s Southeast Asian business will reduce competition, resulting in higher fares and fewer incentives. The services in Vietnam have long relied on discounts for customers and incentives for drivers. Reuters quoted Grab as saying that the Uber acquisition accelerated its path to profitability in its core transport business, as it would become the most cost-efficient Southeast Asian platform. However, it is bad news for both customers and drivers in Vietnam, where there are a few public transport options, and the apps have grown in popularity. Trinh Bao Tram uses either Grab or Uber for her daily commute in Hanoi, and the discount codes available on any given day ultimately decide which service she uses, but now the 38-year-old newspaper editor is concerned about a price hike. “I use whichever firm gives me discount codes, if not, I’ll skip it. After the merger, I'll have no … [Read more...] about Grab’s deal to buy Uber sparks fear of price hike in Vietnam

By Phuong Son  &nbspFebruary 8, 2018 | 10:15 am GMT+7 Phan Van Anh Vu allegedly violated regulations while buying and selling public land in and around Da Nang. The Ministry of Public Security on Wednesday launched a criminal investigation into a real estate tycoon in Da Nang for "abuse of power in performance of official duties". Phan Van Anh Vu, together with a number of other individuals and organizations, is under scrutiny for the purchase and sale of public land in Da Nang and various other cities, according to the ministry. Phan Van Anh Vu in a photo taken in February 2015. Photo by VnExpress/Ngoc Truong. He is also under a separate criminal investigation for “deliberately disclosing State secrets” and tax evasion. Da Nang has frozen all his assets in the city pending the outcomes of the investigations. Vu, 43, is one of the biggest real estate tycoons in Da Nang. He is the chairman of three major property companies and a shareholder in a number … [Read more...] about Vietnamese real estate tycoon under further investigation for abuse of power