SMRT’s Strides Taxi, Premier Taxis merging to form Singapore’s second-largest cab operator
Vivienne Tay
SMRT-OWNED Strides Taxi will merge with Premier Taxis to form Singapore’s second-largest taxi operator, SMRT said on Thursday (Apr 13).
The move will see Strides Taxi and Strides Automotive Services merge with Premier Taxis and Premier Automotive Services to form Strides Premier.
Strides Holdings, the parent company of Strides Taxi and Strides Automotive, will hold a majority stake in the new entity. The remaining stake will be jointly held by Premier Corporation, the parent company of Premier Taxis and Premier Automotive, and BS Investors.
“As the demand for taxis and private-hire cars rebounds to pre-pandemic levels, the merger will help to safeguard the long-term interest of drivers and passengers, as well as enhance efficiency,” SMRT said.
Strides Premier will work closely with the National Taxi Association and National Transport Workers Union to engage existing drivers and staff of the entities involved in the merger, SMRT said.
It added that all current rental agreements of private-hire cars, taxis, limousines and private cars are unaffected and staff are expected to continue their duties post-merger.
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Strides Premier will also offer technical expertise and workshop capabilities to service the expanded fleet of taxis.
Strides Premier chief executive officer-designate, Ang Wei Neng, said the merger will help drive greater efficiency and better services for vehicle hirers and end-users of taxis and private-hire cars.
Premier Taxis was acquired by a unit of property developer BS Capital Group in August last year. Owned by Raymond Ng, who is also the chairman of Singapore Exchange-listed Enviro-Hub Holdings, BS Capital had ventured into the motor leasing business through its subsidiary Carros Project Management.
At the time of the acquisition, Ng told The Business Times that he saw “natural synergies” between the taxi-leasing business and Carros’ business.
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