SMRT merges with Premier Taxis to create SG's second largest taxi operator

Transport operator SMRT Corporation will be merging its taxi businesses, Strides Taxi and Strides Automotive, with Premier Taxis and Premier Automotive Services to create Singapore’s second largest taxi operator as it continues to face competition from other ride-hailing companies in Singapore such as Comfort, Grab and new ride-hailing entrants.

As part of the merger, a new joint venture company, Strides Premier, will be formed to hold the merged businesses. Strides Holdings will hold a majority stake in Strides Premier and Premier Corporation while BS Investors will jointly hold the remaining stake. Strides Holdings is a wholly owned subsidiary of SMRT and the parent company of Strides Taxi and Strides Automotive.

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As the demand for taxis and private hire cars (PHCs) rebounds to pre-pandemic levels, the merger will help to safeguard the long-term interests of drivers and passengers, as well as enhance efficiency, said Strides in a statement. 

“After acquiring Premier Taxis last year, we see this merger as an opportunity for further growth. We are committed to serve our existing customers better and to attract more to join us in this competitive Point-to-Point (P2P) market,” said Raymond Ng, the founder of BS Capital Group said, 

Strides Premier will work closely with the National Taxi Association (NTA) and National Transport Workers Union (NTWU) to engage its existing drivers as well as the staff of all entities involved in the merger. All current rental agreements with PHCs, taxis, limousines and private cars will not be affected. 

MARKETING-INTERACTIVE has reached out for more information.

The news comes amidst the rise in ride-hailing companies in Singapore, all vying for a similar consumer pool. Just last year, ComfortDelGro and Gojek tied up to jointly explore ways to address key issues affecting the point-to-point transport industry, including driver shortage. The two companies agreed to look at providing Gojek users with access to ComfortDelGro taxis via the Gojek app to help address the driver shortage issue that is currently facing the industry.

During the two-year partnership, both parties will also explore other areas of collaboration including the sharing of resources which will benefit drivers and passengers.

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