MANILA, Philippines — Grab Philippines said Monday it would comply with the Philippine Competition Commission’s order for the ride-hailing company to refund P5 million to affected passengers for breaching its pricing commitments.
In a statement, Grab maintained it was compliant with transport regulators’ fare matrix, but it would work closely with the PCC “in implementing the agreed mechanics for the payment.”
Grab said the payment will be communicated to the public at least five days before paying.
Last year, Grab bought Uber’s ride-sharing and food delivery business in Southeast Asia, the industry's biggest acquisition in the region.
The PCC earlier ordered Uber and Grab to delay the integration of their businesses and continue their separate operations while the antitrust agency examines the domestic implications of the merger.
The country’s competition watchdog on Monday slapped Grab Philippines a total fine of P23.45 million for breaching its pricing commitments. The hefty fine covers P11.3 million penalty for the first quarter, P7.1 million for the second quarter, and P5.05 million for the third quarter, wherein a disgorgement mechanism will be applied. — Ian Nicolas Cigaral