Singapore's competition watchdog said on Thursday (26^th April) it has noted the news of potential new entrants into the ride-hailing industry, as it continues its probe into the Grab-Uber merger to assess if any competition laws have been infringed.

The Competition and Consumer Commission of Singapore (CCCS), which issued orders two weeks ago to stall Grab's acquisition of Uber's operations here, told The Straits Times that the 'entry of players into the market is a factor for consideration' in its assessment.

For new entrants to be considered as a 'sufficient competitive constraint', three conditions must be satisfied - that 'the entry must be likely, sufficient in extent and timely', the CCCS said.

With the impending departure of Uber from Singapore, a trio of start-ups have announced plans to start their own private hire car service, two of them as early as next week.

Local car-pooling app Ryde said on Thursday (26^th April) that it will launch its RydeX private-hire car service on 2^nd May, while the Singapore-headquartered MVL (Mass Vehicle Ledger) Foundation targets to roll out its blockchain-based ride-booking concept at the end of July. Indian firm Jugnoo, which specialises in auto-rickshaw bookings, intends to make its foray into the private hire car business on 1^st May with a Singapore launch.

Their plans come amid reported talks of a possible tie-up between Indonesian ride-hailing firm Go-Jek and Singapore's taxi giant ComfortDelGro.

The CCCS said of its ongoing probe into the Grab-Uber merger, "We will determine if there is substantial lessening of competition in this case when we complete our assessment of the investigation, taking into account all relevant facts and circumstances."

The new players are taking the fight to Grab, with lower commission fees for drivers and new options for customers. Ryde said on Thursday it will allow users to request their preferred driver when making a RydeX booking. It will also offer users an average five percent cashback and advance bookings of up to seven days, Ryde's Chief Executive Terence Zou said at a press briefing.

Mr. Zou said his firm has already recruited 5,000 drivers and will take only a 10 percent commission from them. Grab takes 20 percent.

In contrast, MVL Foundation's founder Kay Woo said it will not take any commission. Instead, its drivers will earn points from, say, driving safely. The points are traded for MVL's own cryptocurrency, which can be converted to cash later on. Mr. Woo said to generate revenue, the data acquired from drivers and their vehicles will, for instance, be sold to car rental firms or insurance companies.

Meanwhile, Jugnoo's reverse bidding system will allow drivers who are in the customer's vicinity to offer competing bids, which the customer then selects.

Jugnoo's Chief Executive Samar Singla said the exit of Uber provided an opportune time to enter the market. "Singaporeans are now confused about what is going to happen to Uber, will prices for Grab be increased? A lot of drivers I've spoken to don't like to be on Grab but don't have a choice," he said in a phone interview from India.

MP Ang Hin Kee, Deputy Chairman of the Government Parliamentary Committee for Transport, said he hopes the new players will not just 'fill a gap that Uber left behind but offer added services' and give commuters more choice.

Asked if the new players will change the CCCS' assessment of the competitive landscape, Singapore University of Social Sciences transport economist Walter Theseira said, "The number of players is not relevant, but (what is relevant is) whether the players have enough market share to make the market contestable."

Noting that the ride-hailing business is one in which firms need deep pockets to attract a critical mass of drivers and passengers, Dr. Theseira said, "I do not predict that the entrants will be able to amass enough market share to make a material difference."