SMRT takes Strides into private car hire business

SINGAPORE public transport operator SMRT Corporation is venturing into the on-demand private car hire segment, putting it in the same market as ride-sharing platforms Uber and Grab.

SMRT's subsidiary Strides Transportation will offer limousine services, chauffeured services and car rental services, said Benny Lim, managing director for the roads segment of SMRT, at the launch of the mainboard-listed firm's new venture on Monday morning.

Calling the new venture a "natural progression" for SMRT, Mr Lim said the recent introduction of requirements for Uber and Grab drivers to have vocational licences provides much-needed structure and certainty for the on-demand point-to-point transportation services sector.

Strides has already inked a one-year partnership with Grab's ride-booking platform GrabCar to allow 200 Strides drivers take on bookings from the app and earn performance-related incentives starting this month.

Strides' Lexus ES Hybrid and Toyota Vellfire fleet will be catered towards corporate clients, while 300 new Toyota Altis sedans will be used for chauffeured and car rental services.