Elepoo 2nd Gear October 20, 2017 Share October 20, 2017 http://www.channelnewsasia.com/news/singapore/grab-debt-facilities-smrt-partnership-9328108?cid=fbcna More cars on the road??? ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2017 Share October 20, 2017 Comfort gg 1 Link to post Share on other sites More sharing options...
Jman888 Moderator October 20, 2017 Share October 20, 2017 Grab bags S$952m in debt facilities, signs new partnership with SMRT 20 Oct 2017 02:57PM (Updated: 20 Oct 2017 03:21PM) Grab signs deal with SMRT that will give it exclusive access to the latter’s current and future taxi and private car fleet management capabilities, as well as its entire network of taxis and Strides private-hire cars. SINGAPORE: Ride-hailing operator Grab said on Friday (Oct 20) that it has secured debt facilities of US$700 million (S$952 million) and signed a new and exclusive partnership with SMRT that will help it build the "largest and most advanced" taxi and private-hire car fleet in Singapore. These moves will also help it achieve the largest car rental fleet in Southeast Asia by the fourth quarter of next year, Grab touted. The US$700 million debt facilities, secured from leading global and regional banks, is the largest debt financing raised by a Southeast Asian start-up, the company said in a press statement. With these debt facilities, Grab will make more cars available for rental, provide more favourable rental terms and services for driver partners and increase the supply of vehicles on the road, it said. Grab president Ming Maa said: “This record-breaking debt financing round clearly demonstrates high confidence in our business model and market leadership from several of the world’s leading banks.” Grab’s current market share is 95 per cent in third-party taxi-hailing and 72 per cent in private vehicle hailing, it said. Its pool of drivers in the region has tripled in size since January this year to hit more than 1.8 million, the largest land transportation fleet in Southeast Asia, it claimed. SMRT PARTNERSHIP STRENGTHENED To further grow its fleet, Grab has signed a deal with SMRT that will give it exclusive access to the latter's current and future taxi and private car fleet management capabilities, as well as its entire network of taxis and Strides private-hire cars. The fleet will include eco-friendly hybrid and fully electric vehicles, which will drastically reduce drivers’ operating costs and translate into higher driver earnings and more affordable rides for passengers, Grab said. This comes after Grab brought taxis, including SMRT's, onboard its GrabShare platform in May this year. Additionally, Grab’s driver partners who rent vehicles through Grab’s car rental business, GrabRentals, will enjoy competitive vehicle rental and maintenance rates, have access to the most advanced commercial vehicles, and benefit from SMRT’s fleet management capabilities, it added. Mr Lim Kell Jay, head of Grab Singapore, said: “We are thrilled to deepen our partnership with SMRT, given their strong fleet management capabilities for hybrid vehicles. We continue to collaborate to complement and strengthen each other’s transportation network. Ultimately, we want to provide affordable services for driver-partners and passengers, and serve all segments of society including public transport users.” 1 Link to post Share on other sites More sharing options...
Soya Supersonic October 20, 2017 Share October 20, 2017 COE huat again ah!....... Link to post Share on other sites More sharing options...
RH1667 Hypersonic October 20, 2017 Share October 20, 2017 means Grab buying more cars? Uber will give out more promo code ? Link to post Share on other sites More sharing options...
Soya Supersonic October 20, 2017 Share October 20, 2017 means Grab buying more cars? Uber will give out more promo code ? Means Grab gonna make the same mistake as Uber by not being asset lite Link to post Share on other sites More sharing options...
Elepoo 2nd Gear October 20, 2017 Author Share October 20, 2017 So meaning COE in 2018 is going up north liao!! Huat ah!! With this news, those sitting on the fence have to make the decide to commit or never... Renew COE is also going to be EXPENSIVE too Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2017 Share October 20, 2017 Doesn't look like it means Grab buying more cars. More like they getting access to cars/taxis SMRT have. Link to post Share on other sites More sharing options...
DACH Supersonic October 20, 2017 Share October 20, 2017 If they want to get more cars, what for tying up with SMRT? They want to use SMRT taxis and their rental cars to expand, and not spending money on more assets for the expansion. Link to post Share on other sites More sharing options...
Char 5th Gear October 20, 2017 Share October 20, 2017 http://www.channelnewsasia.com/news/singapore/grab-debt-facilities-smrt-partnership-9328108?cid=fbcna More cars on the road??? Car population remain despite all this movement as control by the available quotas . Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 20, 2017 Share October 20, 2017 Very smart of Grab. When MRT breakdown got income opportunity. 4 Link to post Share on other sites More sharing options...
kdash Supersonic October 20, 2017 Share October 20, 2017 let's see whether there will really be "higher driver earnings and more affordable rides for passengers"... Link to post Share on other sites More sharing options...
Kb27 Supersonic October 20, 2017 Share October 20, 2017 Unlikely more cars on the road. LCR already has a glut and trying to sell them off. They overestimated the market. More likely, a shift between taxis drivers and pvt cars laterally. Link to post Share on other sites More sharing options...
Angcheek Hypersonic October 20, 2017 Share October 20, 2017 Very smart of SMRT .... smrt breakdown loss income , hedge it with Grab . well done ! kekeke 8 Link to post Share on other sites More sharing options...
Soya Supersonic October 20, 2017 Share October 20, 2017 Very smart of SMRT .... smrt breakdown loss income , hedge it with Grab . well done ! kekeke Haha...heads they win, tail oso they win 1 Link to post Share on other sites More sharing options...
Blueray Hypersonic October 20, 2017 Share October 20, 2017 Very smart of SMRT .... smrt breakdown loss income , hedge it with Grab . well done ! kekeke so on rainy days a lot of Grab will be waiting around Bishan station, and the rest of NS line for that matter, sure huat one. 1 Link to post Share on other sites More sharing options...
Mkl22 Twincharged October 20, 2017 Share October 20, 2017 Car population remain despite all this movement as control by the available quotas .Actually he is partially right. There will be more cars in the road in the literal sense. Private hire car are used 3times as much as a normal private car. So roads will be much more conjested as the population of PHV increases. Link to post Share on other sites More sharing options...
Elepoo 2nd Gear October 20, 2017 Author Share October 20, 2017 Actually he is partially right. There will be more cars in the road in the literal sense. Private hire car are used 3times as much as a normal private car. So roads will be much more conjested as the population of PHV increases.Yup..that’s also I am thinking too ↡ Advertisement Link to post Share on other sites More sharing options...
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