The Motley Fool Singapore
How Will the New Private Hire Car Licensing Scheme Impact ComfortDelGro?
ComfortDelGro Corporation Ltd (SGX: C52), or CDG, is a land transport conglomerate with a total fleet size of around 42,300 buses, taxis and rental vehicles. CDG operates in seven countries – Singapore, Australia, the United Kingdom, China, Ireland, Vietnam and Malaysia. Singapore’s Parliament announced on August 6 that commuters can look forward to a new formal licensing regime which will allow the authorities to mandate safety standards for ride-hailing companies and to act against any breaches. This is the first time that the ride-hailing industry is being regulated since companies such as Grab and Uber Technologies Inc (NYSE: UBER) burst onto the scene six years ago. Though Uber has since pulled out from Singapore, Indonesian start-up Go-Jek has taken its place in a big wa