Temasek Holdings-owned ComfortDelgro today (Mar 27) told taxi drivers to delete their Uber application despite having paid S$652 million for it. The Uber app will officially stop operating on 8 April 2018.
Yesterday evening, a text message was sent out to all 23,000 ComfortDelgro hire-drivers to stop using Uber:
“Dear cabbies, UberFlash will cease on April 8 2018. You may delete the Uber driver app any time now since it will no longer be in use. ComfortDelGro will continue to provide you jobs… We thank you for your continued support.”
The biggest loser of the Uber-Grab deal is Temasek Holdings, confirmed from a bitter admission by government state media’s “experts”.
It is unknown whether ComfortDelgro will get to use Grab’s applications for free, or for another fee costing hundreds of millions.
On March 19, the Singapore government earlier issued a warning to Grab not to poach ComfortDelgro drivers, in a subtle bid to protect Temasek Holdings’ profits.
Uber and it’s Singapore arm Lion City Rentals remain uncontactable, meaning major shareholder Temasek Holdings has effectively flushed S$652 million of CPF money into the toilet bowl in 3 months. The CEO of Temasek Holdings, Ho Ching, did not make any comment regarding her losing more than half a billion of Singaporean retirement savings.