MANILA — The Philippines’ transport regulator has rejected the application of Indonesia’s Go-Jek to launch a ride-hailing service in the country due to foreign ownership issues, a government official said on Wednesday.
The Land Transportation Franchising and Regulatory Board (LTFRB) denied the petition of Go-Jek’s subsidiary to become the newest ride-hailing service in the Southeast Asian nation, the regulator’s chairman, Martin Delgra, told Reuters.
Velox Technology Philippines, Inc., a unit of Go-Jek, “did not meet the citizenship requirement and the application was not verified in accordance with our rules,” Mr. Delgra said.
Go-Jek, which counts Tencent Holdings Ltd. and JD.com, Inc. as investors, did not immediately respond to request for comments. — Reuters
