SG Morning Highlights: Gojek to raise fares, introduce temporary 'driver fee' as operating costs spike

-Moomoo News SG

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Singapore shares opened higher on Monday. The $FTSE Singapore Straits Time Index(.STI.SG)$ increased 0.45 per cent to 3,345.49 as at 9.02 am.

Breaking News
Gojek to raise fares, introduce temporary 'driver fee' as operating costs spike

Ride-hailing startup Gojek on Saturday (Mar 19) said it is increasing its trip start fares from Mar 31 and implementing a temporary flat fee for 2 months amid rising operating costs and fuel prices in Singapore.

Gojek will be increasing its trip start fare by S$0.50 for all GoCar trips and S$0.80 on GoCar Premium and GoCar XL services.

At the same time, Gojek will introduce a flat fee - which it calls a "driver fee" - until at least May 31, the group said in a press statement.Gojek said the full amount of the driver fee will be retained by its drivers, and will not be subject to prevailing commission rates.


Stocks to Watch
$Mapletree PanAsia Com Tr(N2IU.SG)$ and $Mapletree NAC Tr(RW0U.SG)$ : THE managers of MCT and MNACT on Monday said they are now offering MNACT unitholders the option to receive the entire scheme consideration of their proposed merger, of S$1.1949 per unit, wholly in cash. MCT will also make a preferential offering of S$2.0039 per unit to fund the additional cash requirement of up to S$2.2 billion. On Friday, units of MCT closed up S$0.01 or 0.5 per cent at S$1.89, while units of MNACT closed flat at S$1.12.

$Dasin Retail Tr(CEDU.SG)$ : The real estate investment trust's (Reit) trustee-manager said on Sunday that it has entered into a non-binding memorandum of understanding for the potential divestment of 2 of its retail properties - Shiqi Metro Mall and Xiaolan Metro Mall. Net proceeds from the sale of the properties are expected to be used to repay the trust's existing syndicated loans, with the remainder to be used for working capital purposes. Its unit price closed 3.3 per cent higher on Friday, or S$0.01 at S$0.31.

$AP Strategic(5RA.SG)$ : The real estate developer said on Friday that it has entered into a non-binding heads of agreement with Catapult Ventures for the full acquisition of personal financial marketplace MoneySmart for a price tag of US$161.7 million. If completed, the acquisition is expected to result in a reverse takeover of the company, subject to the approval of its shareholders and the Singapore Exchange Securities Trading. Its share price jumped 100 per cent at Friday's close, going up by S$0.001 to S$0.002.

$Darco Water Tech(BLR.SG)$ : The mainboard-listed company on Monday said it will not proceed with an investment in the alternative water treatment asset proposed by its former non-executive deputy chairman Wang Zhi. Shares of Darco Water last traded at S$0.13 on Mar 14.