- Singapore’s transport regulator LTA recently awarded a street-hail service operator licence to GrabCab (valid for 10 years effective 9 Apr), bringing the total number of taxi operators to 6 in Singapore.
- While we expect sector competition to increase, the actual impact might be somewhat muted as street hailing volumes have been on a secular decline and account for only 10-11% of total P2P trips.
New player of street-hail likely needs time to scale up.
- - Read this at SGinvestors.io -
- GrabCab will sponsor the Taxi Driver's Vocational Licence course fees for aspiring cabbies and 6 months of the National Taxi Association membership fees for new members. It plans to launch a 100% green fleet consisting of low-and zero-emission hybrid and electric vehicles.
Taking a wait-and-see stance before responding
- - Read this at SGinvestors.io -
- ComfortDelGro is adopting a wait-and-see approach on what kind of rental rates/incentives GrabCab will offer, as well as how aggressive they are in building their fleet before taking any decisions on new measures.
- To fend off competition, ComfortDelGro earlier expanded its premium offerings by introducing new Toyota Alphard Hybrid taxis with limousine-style service, and can accommodate up to 6 passengers.
1Q25 results preview: Expecting strong y-o-y growth.
- Read more at SGinvestors.io.
