Go-Jek’s Southeast Asia expansion runs into a roadblock in the Philippines

Go-Jek, challenger from Southeast Asia has expanded into three new markets as it plans to expand beyond Indonesia, but has big problems entering the fourth. The company – which rivals Grab, is valued at over $ 6 billion and is supported by Google's likes and Tencent – this week was badly hit in the Philippines, where, according to Rappler's report, the Land Transport Regulatory and Regulatory Council (LTFRB) rejected its request for a domestic operation. The problem is pretty simple: Go-Jek's business in the Philippines – an entity called Velox Technology Philippines – is majority owned by a company overseas.

The post Go-Jek’s Southeast Asia expansion runs into a roadblock in the Philippines appeared first on viralamo.

http://bit.ly/2RjCkdk