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Grab find rivals in LTFRB accreditation of Hype and HirNa

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The Land Transportation Franchising and Regulatory Board has accredited Hype Transports Systems Inc. and HirNa Mobility Solutions Inc. as the two new transport networking companies, following the exit of the ride-sharing company Uber in the country.

According to the order signed last April 18 by LTFRB Chairman Martin Delgra, the two TNCS can start their operations “anytime” from now.

Hype’s accreditation as a TNC, with the same ride-sharing operations as Uber, will be until April 2020 while HirNa, a ride-hailing application exclusive for taxis, will be also valid for two years.

Both will be a rival of Grab, as they set to enter the market.

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It could be remembered that Grab’s acquisition of Uber is under the analysis of Philippine Competition Commission (PCC) succeeding the uncertainties that this may create a monopoly in the ride-sharing market.

However, Grab’s country head Brian Cu explained that Uber may not continue its operations because they were already given a cease and desist order by the LTFRB. Mr. Cu also added that they “welcome competition” and decided to ignore the uncertainties of monopoly in the ride-sharing market.

Hype and HirNa are the third and fourth TNC to be accredited by LTFRB, next to Uber and Grab.

Source: PhilStar

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