Malaysia proposes $20mn fine on Grab for malpractices

A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore. (Reuters photo)

Malaysia's competition regulator has proposed a fine of 86 million ringgit ($20.53 million) on ride-hailing firm Grab for violating the country's competition law by imposing restrictive clauses on its drivers.

The Malaysia Competition Commission (MyCC) ruled that Grab, which has major backing from Japan's Softbank Group, had abused its dominant position in the local market by preventing its drivers from promoting and providing advertising services for its competitors.

($1 = 4.1880 ringgit) (Reporting by Liz Lee; Editing by Christian Schmollinger)

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