The Philippine Land Transportation Franchising and Regulatory Board's (LTFRB) pre-accreditation committee turned down Go-Jek's application on December 20, through local transport network company (TNC) Velox Technology Philippines. Velox Technology Philippines is reportedly 99.99 per cent owned by Singaporean investors. LTFRB pre-accreditation committee head Samuel Jardin confirmed the rejection but added that Velox could still appeal the decision. The decision has halted the Indonesian ride-hailing company's plans to enter its fifth Asean country after expanding its operations to Singapore, Vietnam and Thailand. A spokesperson for rival company Grab, which is allowed to operate in the Philippines, said it was compliant with the regulation, as the majority of its Philippine business was locally owned.
Source: The Nation Bangkok January 11, 2019 09:11 UTC