Another ["New Taxi Company"] is Akan Datang.
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http://www.straitstimes.com/singapore/transport/ubers-expansion-drive-changes-the-game-for-cars
Uber submits 800 COE bids, changes the game for cars.
Just over three years ago, the Transport Ministry removed taxis from the certificate of entitlement (COE) bidding process to take some heat off car bidders.
Now, three years after third-party taxi app provider Uber arrived, the heat is back on.
During last week's COE tender, Uber-owned Lion City Rental submitted more than 800 bids, which accounted for 11 per cent of the total bids made for car COEs.
According to market talk, Lion City is looking to put 1,800 new cars on the road in anticipation of growing demand.
Rival company Grab is also expected to do the same.
The two already have between them some 10,000 cars - mostly old vehicles.
But in recent months, both have started sourcing for new vehicles, and are jostling with private car owners for fresh COEs.
Now, with the Government announcing "light touch" regulations governing third-party taxi apps, the proliferation of private-hire vehicles will accelerate.
Most of the taxi companies are also starting up private-hire subsidiaries to compete with Uber, Grab and other small players like Smove and Tribecar.
This will only intensify the competition for COEs, which explains why car premiums have not fallen in tandem with the growth in supply.
If the demand for private-hire services continues to grow, taxi operators are likely to shrink their cab fleets and switch. Again, this will fuel demand for COEs.
Most private-hire cars are smaller vehicles, so the pressure will be greater on COE Category A bidders (cars up to 1,600cc and 130bhp).
But some are gunning for Open Category too, such as Lion City.
At the last tender, more than 200 of the company's Open bids were disqualified because they had identical values, which sources said was a move to manipulate the market.
The Land Transport Authority said: "As there were more than 237 bids with the same next lower bid amount, awarding the COE to all these bids would exceed the quota. The 237 unallocated COEs will be carried over to the first open bidding exercise in May 2016."
Uber was not reachable for comment.
Car-Sharing Association (Singapore) president Lai Meng said: "The fast growth in the private-hire car services like Uber and Grab is a validation of the sharing economy."
Christopher Tan
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As TD, when pax talks we tia. Not talk to me. They talk amongst themselves Mother retired gog to drive grab car. Friends after day job driving uber at night. This country sibei jialat...until must work so hard to survive. Philippines generate maids... Singapore one day will have the most TD per capital
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If all go drive then who become pax? lol
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yay to better service and more competitive pricing
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how come like that?
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an insult to taxi companies.
these 3rd party enter the market so easily. less capital involved
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The time has arrived, in the next few years, taxis in Singapore might be wipe off from the scene and Singapore shall place itself as the 1st world to forgo taxis and replace with IT savvy apps ride, with a population of nearly 90% holding a smart phone and well knowledge in IT, the time is ripe for implementation. We will be hearing news like SMRT with Grab, Uber going for the kill, and TC will be the next in line to announce in the coming months, thereafter, big brother cdg will give you the ultimate result of them ceasing Taxi in near future and replace by apps ride joining hand either with grab or Uber or S....
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there is still a need to flag by the road
like in tv show
once u step out, wave a bit, and one come in 5 seconds
so it's up to the taxi co. to make it competitive enough to sustain the business
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Flag a taxi will be those oldies like you and me lah, knn, today all look at Hp for promotion, like you lor..smlj $10 promotion code...$5 off this week...blah blah..flagging more expensive hor.
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damn. was hoping for wed COEs price to drop.
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Cash cow how to drop...COE might rise higher as many now chiong to buy.
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Coe confirm won't drop. TAXI Co now buying private cars. These crap apps thing really also screw those who are genuine buyers of pte cars.
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Set up provision shop has to compete with big supermarket like ntuc. Buy car has to compete with commercial buyer. Singapore really screw up by these policies. Since when normal citizens like us are protected. Life will be tougher in future....
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I was wondering why Uber is changing it business model, it could had partnered some firm, because Uber, like Grab model of business do not include asset like car and driver, they are just a company providing and managing calls.
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LCR has poor reputation. Uber driver is not a sustainable model for serious driver. let see where can they find the drivers.
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Now I want to eat Ah ber also dun hv...haiz, welcome to capitalism, at it very best.
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Just wait and see, when uber/GrabCar remove their incentive....
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lta statistic on rental car. end 2014 is about 19k. mar 2016 is 32.5k. about 1k increase each mth. tis is how coe price is maintain high. now rental car population is even more than taxi which is less than 29k. since uber n grab car is not a sustainable model to use rental car. huge number of rental car may run into no taker especially from next year where lta rollout the new rules for private hired car.
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Aiyo, many rental coy not interested in this Über/Grab business.......
They stated in their contract very clearly, not to use for other purposes than own use......
Siao ah, high mileage equal to high maintainence cost, you all think they are stupid?.......
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there are many rental companies leveraging on apps riding services to maximize bottomline. Before apps riding services a monthly rent for an average car was $800 to $1300 a month. Nowadays are common at $1300 to $1800 a month. Uber do not bid for 800 COEs for the sake of trials.
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SMRT also did a hedge by joining in the private hires because they do not have a large taxi fleet as cdg and such business decision is not on impulse.
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by reducing the minimum age to 21 and allowing limo companies to hire PRs and foreign drivers are akin to opening this dynamic and demanding transport sector to serve commuters. Maybe some TDs wanting to pass time, pick and choose are better off earning a passive income in the security sectors liao so the hungry ones will drive more commuters.
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Originally posted by Keepthechange666:
Aiyo, many rental coy not interested in this Über/Grab business.......
They stated in their contract very clearly, not to use for other purposes than own use......
Siao ah, high mileage equal to high maintainence cost, you all think they are stupid?.......
lta rental car statistic speak for itself. prior 2015. the rental car number grow is about 1k+ per year. in 2015, the rental car number has grow from less than 19k to more than 29k. i.e. about 10k rental car more in 2015. where these rental car use for? in 2016, rental car number continue to grow at the same pace, at end mar 2016, no. of rental car reach 32.5k. wat do u tink?
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To survive is to be able to adapt to changes as they are forced upon you.
The job of ferrying people around has an ancient history. Before cars and even bicycles were even invented, we had the 苦力 from china using rickshaws to ferry passengers. Those days they had no bicycles, the 'cabby' only got his muscular legs to earn a living.
Then bicycles were invented and imported into 'Temasek' (singapore's old name). When those coolies saw that, I am sure many would have worried that with bicycles coming in, their earning will be affected. I am sure many coolies also may not know how to ride a bike or cannot afford a 'trishaw'.
Now we are in the modern era. The issues are the same. Many humans hate changes. Hate getting out of their regular routine. Just look at history and examine why some ancient civilisations disappeared. Ancient Egyptian pharoahs are no more. The Mayans from Amazon are long gone. We are all decendants of ancestors who were able to adapt to a changing environment.
Please do them a favor - fight on, swallow whatever life throws at you and keep marching forward until our bodies expire.