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Wonderful news. Thank u for sharing.
Starship ( Date: 16-Dec-2020 18:17) Posted:
Taxi, private-hire car drivers to get S$133 million additional COVID-19 support from January
16 Dec 2020 01:00PM
SINGAPORE: Taxi and private-hire car drivers are set to receive an additional S$133 million in support from the Government, in a move aimed at moderating the impact from the cessation of a relief scheme for self-employed workers, said the Land Transport Authority (LTA) on Wednesday (Dec 16).
The additional support will come under a new COVID-19 Driver Relief Fund, and is on top of the S$55 million already committed to the existing Special Relief Fund, said LTA in a news release.
Under the COVID-19 Driver Relief Fund, drivers will receive S$600 per vehicle per month between January and March, and S$450 between April and June.
The new scheme will replace the existing Special Relief Fund, which was started in February to help active taxi and private-hire car drivers defray costs. Drivers received monthly payouts of S$300 per vehicle per month under that scheme.
About 52,000 drivers who are currently eligible for the Special Relief Fund will be automatically transitioned to the COVID-19 Driver Relief Fund from January.
The new fund will be introduced as the Self-Employed Person Income Relief Scheme - introduced as part of the Resilience Budget in March - comes to an end. Under the scheme, eligible drivers would have received S$3,000 each in May, July and October.
Recipients of the COVID-19 Driver Relief Fund will not be eligible for the new COVID-19 Recovery Grant announced on Wednesday by the Ministry of Social and Family Development.
In a joint statement on Wednesday, the National Private Hire Vehicles Association and the National Taxi Association said the announcement is a " much-welcomed move" .
Leaders from both associations have been engaging tripartite partners to share concerns and feedback from the ground on the COVID-19 situation.
Tripartite partners have also been engaging drivers through dialogue sessions, noting their concerns and providing timely assistance, they added.
" This payout will bring much relief to our drivers as even though the economy is opening, it is still not at pre-COVID-19 levels," the associations said.
" We are also grateful to our operators for showing care towards the drivers during this period, from rolling out rental waivers and commission relief during the ' circuit breaker' period to extending a short-term relief fund for drivers on quarantine order and stay-home notices & ndash this is a partnership on all fronts to support our drivers through this pandemic."
Despite the improving COVID-19 situation in Singapore, taxi and private-hire car ridership are still lower than pre-COVID-19 levels as tourism activities remain & ldquo muted& rdquo and many employees continue to work from home, said LTA on Wednesday.
" COVID-19 has also changed commuting patterns, with shorter taxi and PHC (private-hire car) trips which result in lower fares per trip," LTA added.
" LTA has been monitoring the situation closely, in particular the continued concerns among taxi and PHC drivers over their incomes and livelihoods as we head into 2021, and has regularly engaged drivers, operators, the National Taxi Association and the National Private Hire Vehicles Association."
NTUC Director and Labour MP Yeo Wan Ling said drivers shared their concerns during the last engagement session with Senior Minister of State for Transport Amy Khor.
" Some of them are sole breadwinners, supporting their family and children, and with border closures and COVID-19 measures in place, they are not able to earn what they did previously," she said.
She also expressed gratitude to tripartite partners who will be providing additional support for drivers.
" This combined with the other assistance such as the Self-employed persons Income Reliefs Scheme and rental waivers from platforms provided some relief to our drivers," she said.
" NTUC will also continue to look out for our workers, with the first tranche of the NCF and subsequently, the enhanced NCF, providing cash relief to tide them over difficult times."
https://www.channelnewsasia.com/news/singapore/taxi-private-hire-car-drivers-to-get-133-million-covid-19-relief-13782610
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With gov helping.... tomorrow towards $1.86
Starship ( Date: 16-Dec-2020 18:17) Posted:
Taxi, private-hire car drivers to get S$133 million additional COVID-19 support from January
16 Dec 2020 01:00PM
SINGAPORE: Taxi and private-hire car drivers are set to receive an additional S$133 million in support from the Government, in a move aimed at moderating the impact from the cessation of a relief scheme for self-employed workers, said the Land Transport Authority (LTA) on Wednesday (Dec 16).
The additional support will come under a new COVID-19 Driver Relief Fund, and is on top of the S$55 million already committed to the existing Special Relief Fund, said LTA in a news release.
Under the COVID-19 Driver Relief Fund, drivers will receive S$600 per vehicle per month between January and March, and S$450 between April and June.
The new scheme will replace the existing Special Relief Fund, which was started in February to help active taxi and private-hire car drivers defray costs. Drivers received monthly payouts of S$300 per vehicle per month under that scheme.
About 52,000 drivers who are currently eligible for the Special Relief Fund will be automatically transitioned to the COVID-19 Driver Relief Fund from January.
The new fund will be introduced as the Self-Employed Person Income Relief Scheme - introduced as part of the Resilience Budget in March - comes to an end. Under the scheme, eligible drivers would have received S$3,000 each in May, July and October.
Recipients of the COVID-19 Driver Relief Fund will not be eligible for the new COVID-19 Recovery Grant announced on Wednesday by the Ministry of Social and Family Development.
In a joint statement on Wednesday, the National Private Hire Vehicles Association and the National Taxi Association said the announcement is a " much-welcomed move" .
Leaders from both associations have been engaging tripartite partners to share concerns and feedback from the ground on the COVID-19 situation.
Tripartite partners have also been engaging drivers through dialogue sessions, noting their concerns and providing timely assistance, they added.
" This payout will bring much relief to our drivers as even though the economy is opening, it is still not at pre-COVID-19 levels," the associations said.
" We are also grateful to our operators for showing care towards the drivers during this period, from rolling out rental waivers and commission relief during the ' circuit breaker' period to extending a short-term relief fund for drivers on quarantine order and stay-home notices & ndash this is a partnership on all fronts to support our drivers through this pandemic."
Despite the improving COVID-19 situation in Singapore, taxi and private-hire car ridership are still lower than pre-COVID-19 levels as tourism activities remain & ldquo muted& rdquo and many employees continue to work from home, said LTA on Wednesday.
" COVID-19 has also changed commuting patterns, with shorter taxi and PHC (private-hire car) trips which result in lower fares per trip," LTA added.
" LTA has been monitoring the situation closely, in particular the continued concerns among taxi and PHC drivers over their incomes and livelihoods as we head into 2021, and has regularly engaged drivers, operators, the National Taxi Association and the National Private Hire Vehicles Association."
NTUC Director and Labour MP Yeo Wan Ling said drivers shared their concerns during the last engagement session with Senior Minister of State for Transport Amy Khor.
" Some of them are sole breadwinners, supporting their family and children, and with border closures and COVID-19 measures in place, they are not able to earn what they did previously," she said.
She also expressed gratitude to tripartite partners who will be providing additional support for drivers.
" This combined with the other assistance such as the Self-employed persons Income Reliefs Scheme and rental waivers from platforms provided some relief to our drivers," she said.
" NTUC will also continue to look out for our workers, with the first tranche of the NCF and subsequently, the enhanced NCF, providing cash relief to tide them over difficult times."
https://www.channelnewsasia.com/news/singapore/taxi-private-hire-car-drivers-to-get-133-million-covid-19-relief-13782610
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You will become a troll if you make more of such post, not to contribute but just to attack.
Beatch ( Date: 16-Dec-2020 18:12) Posted:
| Haiz everytime I logged into sharejunction hoping for some constructive views... ended up it?s just... 😒 now I am here just for entertainment. let?s stop feeding THE troll. |
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PHV's attack on the taxi trade is at its business model, as follows,
1. Private cars can be used as taxis
2. PHVs can be self-owned, taxis can be bought only by taxi companies
3. Fares are based on supply and demand, which attract the drivers
4. Cars can be used for personal purposes like going across the causeway.
The above are the reasons why any new driver will probably drive a PHV and not taxi. Dont believe? Ask the taxi drivers whenever you take taxis. They ate most probably tell you they have been driving for 10, 15, 20, or even 30 years.
justicebaogaliao ( Date: 16-Dec-2020 17:43) Posted:
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Taxi, private-hire car drivers to get S$133 million additional COVID-19 support from January
16 Dec 2020 01:00PM
SINGAPORE: Taxi and private-hire car drivers are set to receive an additional S$133 million in support from the Government, in a move aimed at moderating the impact from the cessation of a relief scheme for self-employed workers, said the Land Transport Authority (LTA) on Wednesday (Dec 16).
The additional support will come under a new COVID-19 Driver Relief Fund, and is on top of the S$55 million already committed to the existing Special Relief Fund, said LTA in a news release.
Under the COVID-19 Driver Relief Fund, drivers will receive S$600 per vehicle per month between January and March, and S$450 between April and June.
The new scheme will replace the existing Special Relief Fund, which was started in February to help active taxi and private-hire car drivers defray costs. Drivers received monthly payouts of S$300 per vehicle per month under that scheme.
About 52,000 drivers who are currently eligible for the Special Relief Fund will be automatically transitioned to the COVID-19 Driver Relief Fund from January.
The new fund will be introduced as the Self-Employed Person Income Relief Scheme - introduced as part of the Resilience Budget in March - comes to an end. Under the scheme, eligible drivers would have received S$3,000 each in May, July and October.
Recipients of the COVID-19 Driver Relief Fund will not be eligible for the new COVID-19 Recovery Grant announced on Wednesday by the Ministry of Social and Family Development.
In a joint statement on Wednesday, the National Private Hire Vehicles Association and the National Taxi Association said the announcement is a " much-welcomed move" .
Leaders from both associations have been engaging tripartite partners to share concerns and feedback from the ground on the COVID-19 situation.
Tripartite partners have also been engaging drivers through dialogue sessions, noting their concerns and providing timely assistance, they added.
" This payout will bring much relief to our drivers as even though the economy is opening, it is still not at pre-COVID-19 levels," the associations said.
" We are also grateful to our operators for showing care towards the drivers during this period, from rolling out rental waivers and commission relief during the ' circuit breaker' period to extending a short-term relief fund for drivers on quarantine order and stay-home notices & ndash this is a partnership on all fronts to support our drivers through this pandemic."
Despite the improving COVID-19 situation in Singapore, taxi and private-hire car ridership are still lower than pre-COVID-19 levels as tourism activities remain & ldquo muted& rdquo and many employees continue to work from home, said LTA on Wednesday.
" COVID-19 has also changed commuting patterns, with shorter taxi and PHC (private-hire car) trips which result in lower fares per trip," LTA added.
" LTA has been monitoring the situation closely, in particular the continued concerns among taxi and PHC drivers over their incomes and livelihoods as we head into 2021, and has regularly engaged drivers, operators, the National Taxi Association and the National Private Hire Vehicles Association."
NTUC Director and Labour MP Yeo Wan Ling said drivers shared their concerns during the last engagement session with Senior Minister of State for Transport Amy Khor.
" Some of them are sole breadwinners, supporting their family and children, and with border closures and COVID-19 measures in place, they are not able to earn what they did previously," she said.
She also expressed gratitude to tripartite partners who will be providing additional support for drivers.
" This combined with the other assistance such as the Self-employed persons Income Reliefs Scheme and rental waivers from platforms provided some relief to our drivers," she said.
" NTUC will also continue to look out for our workers, with the first tranche of the NCF and subsequently, the enhanced NCF, providing cash relief to tide them over difficult times."
https://www.channelnewsasia.com/news/singapore/taxi-private-hire-car-drivers-to-get-133-million-covid-19-relief-13782610
Taxi numbers is the most insignificant part of the equation
Writing a long composition on it is not only a waste of time, but also shows how insignificant your arguments are in the long term trend of this stock
Conman ( Date: 16-Dec-2020 18:03) Posted:
It is ok that you dont believe me. I will not persue because it doesnt affect me. But if you are still interested, please post the last 8 years' taxi numbers here, year by year, than then the discussion can be more fruitful.
I have done that in the first locked thread but am lazy to do it all over again.
Taxis numbers is always maintained at an equilibruim vs passengers numbers. It is a supply-demand balance by itself. The equilibruim adjusts by itself because taxi drivers are self-employed unlike bus drivers. Hence when you see the taxi numbers dropping year by year and PHV increasing year by year you will understand why.
zqy1985 ( Date: 16-Dec-2020 16:50) Posted:
LOL ok numbers don' t lie. I' m not going to be all positive and say that the industry is all rosy of cos it has been disrupted. But thing is those numbers of taxis are like that before Covid-19 and what was the price then? Has the numbers dropped significantly during Covid or has it remained largely similar? Then what' s the price now?
The key question is taking into consideration the various factors at play, is the current price under, over or fair-valued. As investors that' s the question we all need to ask. We are not the founder of the company we do not have undying love for the company, but if the company is a good enough company and current price is under valued compared to what we think it would be then it is a sound investment, at least for now.
What i cannot agree with is that you have been using PHV and the listing of Grab to imply that PHV has won, Taxis are dead, but the picture may not necessary be so. In general the entire industry got hit with the pandemic that' s a fact, when the pandemic is over it will recover. When it recovers, at least in the mid term will the price still be depressed/go lower or will it go back to at least pre-Covid days of $2.xx.
If one believes it' s the latter then it' s a decent investment esp if you managed to get them low during the pandemic, if one believes it' s going to stay low because CDG is never going to reap the returns of a recovering economy then stay out.
My take is it will recover, maybe never to the same heights but slightly better than now, it will never go out of business in the mid term at least (there is also reason why govt stepped in to help with rental, with measures to protect their employment but not for the PHV). |
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Haiz everytime I logged into sharejunction hoping for some constructive views... ended up it?s just... 😒 now I am here just for entertainment. let?s stop feeding THE troll.
It is ok that you dont believe me. I will not persue because it doesnt affect me. But if you are still interested, please post the last 8 years' taxi numbers here, year by year, than then the discussion can be more fruitful.
I have done that in the first locked thread but am lazy to do it all over again.
Taxis numbers is always maintained at an equilibruim vs passengers numbers. It is a supply-demand balance by itself. The equilibruim adjusts by itself because taxi drivers are self-employed unlike bus drivers. Hence when you see the taxi numbers dropping year by year and PHV increasing year by year you will understand why.
zqy1985 ( Date: 16-Dec-2020 16:50) Posted:
LOL ok numbers don' t lie. I' m not going to be all positive and say that the industry is all rosy of cos it has been disrupted. But thing is those numbers of taxis are like that before Covid-19 and what was the price then? Has the numbers dropped significantly during Covid or has it remained largely similar? Then what' s the price now?
The key question is taking into consideration the various factors at play, is the current price under, over or fair-valued. As investors that' s the question we all need to ask. We are not the founder of the company we do not have undying love for the company, but if the company is a good enough company and current price is under valued compared to what we think it would be then it is a sound investment, at least for now.
What i cannot agree with is that you have been using PHV and the listing of Grab to imply that PHV has won, Taxis are dead, but the picture may not necessary be so. In general the entire industry got hit with the pandemic that' s a fact, when the pandemic is over it will recover. When it recovers, at least in the mid term will the price still be depressed/go lower or will it go back to at least pre-Covid days of $2.xx.
If one believes it' s the latter then it' s a decent investment esp if you managed to get them low during the pandemic, if one believes it' s going to stay low because CDG is never going to reap the returns of a recovering economy then stay out.
My take is it will recover, maybe never to the same heights but slightly better than now, it will never go out of business in the mid term at least (there is also reason why govt stepped in to help with rental, with measures to protect their employment but not for the PHV).
Conman ( Date: 16-Dec-2020 13:32) Posted:
Numbers dont lie. If you take a look at the total taxi numbers and CDG's taxi numbers for the last 8 years since Uber/Grab came in, year by year, you will see a rapid decline from 28,000+ to the present 16,000.
No point talking to the drivers. Whoever wanted to jump ship have already done so the last 6 years or so. The current lots will continue until their retirement, most of them in just a few years' time. You can ask them, they have a plan when they will call it a day |
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too bad our government is only providing aid to taxi drivers who cannot afford to buy a car to become PhV driver, as well as full-time PhV drivers - well how many are there?
Most ppl who own a private car only have a small amount of leisure time to earn from PhV bookings
They have a proper job of their own, and Taxis will always be in existent to cover this gap
https://www.straitstimes.com/singapore/transport/cab-private-hire-drivers-to-get-higher-payouts-from-next-year-as-self-employed
nah, i don' t even have to chase to make a profit - close both eyes
Conman ( Date: 16-Dec-2020 15:50) Posted:
It is meant for you and people like you to chase.
justicebaogaliao ( Date: 16-Dec-2020 15:08) Posted:
| Conman, look at the most important number at the top of this forum. It shows 1.71 - this number also doesn' t li |
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LOL ok numbers don' t lie. I' m not going to be all positive and say that the industry is all rosy of cos it has been disrupted. But thing is those numbers of taxis are like that before Covid-19 and what was the price then? Has the numbers dropped significantly during Covid or has it remained largely similar? Then what' s the price now?
The key question is taking into consideration the various factors at play, is the current price under, over or fair-valued. As investors that' s the question we all need to ask. We are not the founder of the company we do not have undying love for the company, but if the company is a good enough company and current price is under valued compared to what we think it would be then it is a sound investment, at least for now.
What i cannot agree with is that you have been using PHV and the listing of Grab to imply that PHV has won, Taxis are dead, but the picture may not necessary be so. In general the entire industry got hit with the pandemic that' s a fact, when the pandemic is over it will recover. When it recovers, at least in the mid term will the price still be depressed/go lower or will it go back to at least pre-Covid days of $2.xx.
If one believes it' s the latter then it' s a decent investment esp if you managed to get them low during the pandemic, if one believes it' s going to stay low because CDG is never going to reap the returns of a recovering economy then stay out.
My take is it will recover, maybe never to the same heights but slightly better than now, it will never go out of business in the mid term at least (there is also reason why govt stepped in to help with rental, with measures to protect their employment but not for the PHV).
Conman ( Date: 16-Dec-2020 13:32) Posted:
Numbers dont lie. If you take a look at the total taxi numbers and CDG's taxi numbers for the last 8 years since Uber/Grab came in, year by year, you will see a rapid decline from 28,000+ to the present 16,000.
No point talking to the drivers. Whoever wanted to jump ship have already done so the last 6 years or so. The current lots will continue until their retirement, most of them in just a few years' time. You can ask them, they have a plan when they will call it a day.
zqy1985 ( Date: 16-Dec-2020 10:23) Posted:
Nah not exactly true. If you ever spoke to Taxi drivers and PHV maybe you will understand their mindset a little better. Every recession was good for taxi in the past doesn' t mean this is going to be the same in this one, cos this pandemic is a real different to any of those we have seen before. Previously you see a group of people suffering, losing jobs and money but fundamentally there are a lot of people who could live with the impact and more importantly travel still happens. The big hit to transport now is the lack of customers/passengers - be it from the tourists or from the locals who choose to go out less often (afterall Singapore is only so big after the initial euphoria of being able to step out it comes to a point people are also bored of it).
I made it a point to speak to taxi drivers and PHV drivers on their choices and how' s business recently. Taxi drivers who have remained so don' t see a big push to join PHV - they have higher rentals (the recent rent rebates helped) yes but what they get is the best of both worlds - flag down, ability to pick up customers with kids, they can rest at taxi stands by joining the queue yet still can get customers on both CDG platform (which is improving a lot) and the other providers. More importantly, the older ones who are savvy expanded their options, the ones who are not savvy have an inertia to change. Most of them are just doing it to earn a bit a day and they rest and they are comfortable with that, rather than having to chiong only for Grab/Gojek to take a cut out of their additional efforts. And to them, it makes not sense to change anytime soon, there simply isn' t enough customers to go around in the current climate. and because of this PHV will drop in numbers as well. People who joined Grab/Gojek are enticed by the money, but when the money isn' t coming in, when the platform is not making it attractive by eventually pulling away from the incentives, adding on platform fee, you think they will stay?
And for all the glamour and push that Grab is going to kill off the taxi industry, you really think Grab' s final objective is to win in the transport segment where they are still burning money to maintain the business. Think again. Why do they go Grabpay and Fintech? It has always been Fintech and Data business that they are intending to go into. Once they gained traction, once they go listed, you will see shareholders questioning them on the decision to hold on to a loss making business, why don' t change business model etc. That' s when they may just sell off that segment to CDG.
To me yes maybe the taxi industry is a sunset industry and a declining one (which is why CDG is trying and definitely have to diversify to survive) as lesser young people are keen to join, but it will not be completely dead at least not in the next 5-10 years until a new disruption comes. Tell me a country where PHV has taken over completely and killed off taxis? I can' t think of any, not even China. In fact in many countries like SG and MY, the govt is more keen to protect taxi drivers than PHV, the former is more easily regulated and still is a big group of employment. |
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The last round, Uber and Grab did not get CCCS's 'approval' and was fined. This time round, it will be approved because there is
no way CCCS can stop GoJek from leaving Singapore. If the merger is done in Indonesia and GoJek ceases to exist, what can CCCS do?
This counter is rigged by BBs so the shares price cannot be explained by the reality.
seba240698 ( Date: 16-Dec-2020 15:38) Posted:
You speak as though LTA and CCCS are run by Grab.
Remember in 2018, when Grab and Uber merged without seeking approval from CCCS?
What happened? Grab was fined $13 million and forbidden to adjust its fares for about a year until Go-jek came in.
This time round, as CCCS is in the picture, do you really think it will approve it? Do you really think CCCS and LTA have no teeth?
Maybe Grab will still go ahead to merge with Go-jek, but be prepared to pay not $13 million, but $13 billion. Lol.
PS. Actually I would prefer they merge and increase fares, then CDG share price will shoot up as in Jul 2018. But I also enjoy watching Grab being punished by the authorities, both way, I'm happy. Lol.
Conman ( Date: 16-Dec-2020 13:23) Posted:
What is good for the company is usually not good for the drivers, ie, they see an impending increase of the 20% commission when there is no more competition, etc.
What is good for Grab by merging with Grab in Singapore is not good for CDG because the Grab app will become so dominant to marginalise the CDD app |
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It is meant for you and people like you to chase.
justicebaogaliao ( Date: 16-Dec-2020 15:08) Posted:
Conman, look at the most important number at the top of this forum. It shows 1.71 - this number also doesn' t lie
Conman ( Date: 16-Dec-2020 13:32) Posted:
Numbers dont lie. If you take a look at the total taxi numbers and CDG's taxi numbers for the last 8 years since Uber/Grab came in, year by year, you will see a rapid decline from 28,000+ to the present 16,000.
No point talking to the drivers. Whoever wanted to jump ship have already done so the last 6 years or so. The current lots will continue until their retirement, most of them in just a few years' time. You can ask them, they have a plan when they will call it a day |
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You speak as though LTA and CCCS are run by Grab.
Remember in 2018, when Grab and Uber merged without seeking approval from CCCS?
What happened? Grab was fined $13 million and forbidden to adjust its fares for about a year until Go-jek came in.
This time round, as CCCS is in the picture, do you really think it will approve it? Do you really think CCCS and LTA have no teeth?
Maybe Grab will still go ahead to merge with Go-jek, but be prepared to pay not $13 million, but $13 billion. Lol.
PS. Actually I would prefer they merge and increase fares, then CDG share price will shoot up as in Jul 2018. But I also enjoy watching Grab being punished by the authorities, both way, I'm happy. Lol.
Conman ( Date: 16-Dec-2020 13:23) Posted:
What is good for the company is usually not good for the drivers, ie, they see an impending increase of the 20% commission when there is no more competition, etc.
What is good for Grab by merging with Grab in Singapore is not good for CDG because the Grab app will become so dominant to marginalise the CDD app.
justicebaogaliao ( Date: 16-Dec-2020 11:56) Posted:
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Conman, look at the most important number at the top of this forum. It shows 1.71 - this number also doesn' t lie
Conman ( Date: 16-Dec-2020 13:32) Posted:
Numbers dont lie. If you take a look at the total taxi numbers and CDG's taxi numbers for the last 8 years since Uber/Grab came in, year by year, you will see a rapid decline from 28,000+ to the present 16,000.
No point talking to the drivers. Whoever wanted to jump ship have already done so the last 6 years or so. The current lots will continue until their retirement, most of them in just a few years' time. You can ask them, they have a plan when they will call it a day.
zqy1985 ( Date: 16-Dec-2020 10:23) Posted:
Nah not exactly true. If you ever spoke to Taxi drivers and PHV maybe you will understand their mindset a little better. Every recession was good for taxi in the past doesn' t mean this is going to be the same in this one, cos this pandemic is a real different to any of those we have seen before. Previously you see a group of people suffering, losing jobs and money but fundamentally there are a lot of people who could live with the impact and more importantly travel still happens. The big hit to transport now is the lack of customers/passengers - be it from the tourists or from the locals who choose to go out less often (afterall Singapore is only so big after the initial euphoria of being able to step out it comes to a point people are also bored of it).
I made it a point to speak to taxi drivers and PHV drivers on their choices and how' s business recently. Taxi drivers who have remained so don' t see a big push to join PHV - they have higher rentals (the recent rent rebates helped) yes but what they get is the best of both worlds - flag down, ability to pick up customers with kids, they can rest at taxi stands by joining the queue yet still can get customers on both CDG platform (which is improving a lot) and the other providers. More importantly, the older ones who are savvy expanded their options, the ones who are not savvy have an inertia to change. Most of them are just doing it to earn a bit a day and they rest and they are comfortable with that, rather than having to chiong only for Grab/Gojek to take a cut out of their additional efforts. And to them, it makes not sense to change anytime soon, there simply isn' t enough customers to go around in the current climate. and because of this PHV will drop in numbers as well. People who joined Grab/Gojek are enticed by the money, but when the money isn' t coming in, when the platform is not making it attractive by eventually pulling away from the incentives, adding on platform fee, you think they will stay?
And for all the glamour and push that Grab is going to kill off the taxi industry, you really think Grab' s final objective is to win in the transport segment where they are still burning money to maintain the business. Think again. Why do they go Grabpay and Fintech? It has always been Fintech and Data business that they are intending to go into. Once they gained traction, once they go listed, you will see shareholders questioning them on the decision to hold on to a loss making business, why don' t change business model etc. That' s when they may just sell off that segment to CDG.
To me yes maybe the taxi industry is a sunset industry and a declining one (which is why CDG is trying and definitely have to diversify to survive) as lesser young people are keen to join, but it will not be completely dead at least not in the next 5-10 years until a new disruption comes. Tell me a country where PHV has taken over completely and killed off taxis? I can' t think of any, not even China. In fact in many countries like SG and MY, the govt is more keen to protect taxi drivers than PHV, the former is more easily regulated and still is a big group of employment. |
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Numbers dont lie. If you take a look at the total taxi numbers and CDG's taxi numbers for the last 8 years since Uber/Grab came in, year by year, you will see a rapid decline from 28,000+ to the present 16,000.
No point talking to the drivers. Whoever wanted to jump ship have already done so the last 6 years or so. The current lots will continue until their retirement, most of them in just a few years' time. You can ask them, they have a plan when they will call it a day.
zqy1985 ( Date: 16-Dec-2020 10:23) Posted:
Nah not exactly true. If you ever spoke to Taxi drivers and PHV maybe you will understand their mindset a little better. Every recession was good for taxi in the past doesn' t mean this is going to be the same in this one, cos this pandemic is a real different to any of those we have seen before. Previously you see a group of people suffering, losing jobs and money but fundamentally there are a lot of people who could live with the impact and more importantly travel still happens. The big hit to transport now is the lack of customers/passengers - be it from the tourists or from the locals who choose to go out less often (afterall Singapore is only so big after the initial euphoria of being able to step out it comes to a point people are also bored of it).
I made it a point to speak to taxi drivers and PHV drivers on their choices and how' s business recently. Taxi drivers who have remained so don' t see a big push to join PHV - they have higher rentals (the recent rent rebates helped) yes but what they get is the best of both worlds - flag down, ability to pick up customers with kids, they can rest at taxi stands by joining the queue yet still can get customers on both CDG platform (which is improving a lot) and the other providers. More importantly, the older ones who are savvy expanded their options, the ones who are not savvy have an inertia to change. Most of them are just doing it to earn a bit a day and they rest and they are comfortable with that, rather than having to chiong only for Grab/Gojek to take a cut out of their additional efforts. And to them, it makes not sense to change anytime soon, there simply isn' t enough customers to go around in the current climate. and because of this PHV will drop in numbers as well. People who joined Grab/Gojek are enticed by the money, but when the money isn' t coming in, when the platform is not making it attractive by eventually pulling away from the incentives, adding on platform fee, you think they will stay?
And for all the glamour and push that Grab is going to kill off the taxi industry, you really think Grab' s final objective is to win in the transport segment where they are still burning money to maintain the business. Think again. Why do they go Grabpay and Fintech? It has always been Fintech and Data business that they are intending to go into. Once they gained traction, once they go listed, you will see shareholders questioning them on the decision to hold on to a loss making business, why don' t change business model etc. That' s when they may just sell off that segment to CDG.
To me yes maybe the taxi industry is a sunset industry and a declining one (which is why CDG is trying and definitely have to diversify to survive) as lesser young people are keen to join, but it will not be completely dead at least not in the next 5-10 years until a new disruption comes. Tell me a country where PHV has taken over completely and killed off taxis? I can' t think of any, not even China. In fact in many countries like SG and MY, the govt is more keen to protect taxi drivers than PHV, the former is more easily regulated and still is a big group of employment.
Conman ( Date: 16-Dec-2020 05:28) Posted:
You are instead the most confused fellow in this thread.
With or without the pandemic, gov pays the same contract fees for bus and train. And gov paid extra relief for it to book as 'profits' for the last 2 quarters.
But for taxis, down trend continues not because of Covid. Every recession in the past was good for taxi business because unemployment pushed people to drive taxis but in this recession, there are more choices like driving PHV.
How do you see Phase 3 opening will be good for this zombie? Gov will pay more contract fees or relief money? More people will drive taxis? More people will learn driving? More cars will be inspected |
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If drivers don' t feel good, CDG will always welcome them
Conman ( Date: 16-Dec-2020 13:23) Posted:
What is good for the company is usually not good for the drivers, ie, they see an impending increase of the 20% commission when there is no more competition, etc.
What is good for Grab by merging with Grab in Singapore is not good for CDG because the Grab app will become so dominant to marginalise the CDD app.
justicebaogaliao ( Date: 16-Dec-2020 11:56) Posted:
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What is good for the company is usually not good for the drivers, ie, they see an impending increase of the 20% commission when there is no more competition, etc.
What is good for Grab by merging with Grab in Singapore is not good for CDG because the Grab app will become so dominant to marginalise the CDD app.
justicebaogaliao ( Date: 16-Dec-2020 11:56) Posted:
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wow u throw so many words at Conman
i don' t even bother writing so much, because it doesn' t get in
zqy1985 ( Date: 16-Dec-2020 10:23) Posted:
Nah not exactly true. If you ever spoke to Taxi drivers and PHV maybe you will understand their mindset a little better. Every recession was good for taxi in the past doesn' t mean this is going to be the same in this one, cos this pandemic is a real different to any of those we have seen before. Previously you see a group of people suffering, losing jobs and money but fundamentally there are a lot of people who could live with the impact and more importantly travel still happens. The big hit to transport now is the lack of customers/passengers - be it from the tourists or from the locals who choose to go out less often (afterall Singapore is only so big after the initial euphoria of being able to step out it comes to a point people are also bored of it).
I made it a point to speak to taxi drivers and PHV drivers on their choices and how' s business recently. Taxi drivers who have remained so don' t see a big push to join PHV - they have higher rentals (the recent rent rebates helped) yes but what they get is the best of both worlds - flag down, ability to pick up customers with kids, they can rest at taxi stands by joining the queue yet still can get customers on both CDG platform (which is improving a lot) and the other providers. More importantly, the older ones who are savvy expanded their options, the ones who are not savvy have an inertia to change. Most of them are just doing it to earn a bit a day and they rest and they are comfortable with that, rather than having to chiong only for Grab/Gojek to take a cut out of their additional efforts. And to them, it makes not sense to change anytime soon, there simply isn' t enough customers to go around in the current climate. and because of this PHV will drop in numbers as well. People who joined Grab/Gojek are enticed by the money, but when the money isn' t coming in, when the platform is not making it attractive by eventually pulling away from the incentives, adding on platform fee, you think they will stay?
And for all the glamour and push that Grab is going to kill off the taxi industry, you really think Grab' s final objective is to win in the transport segment where they are still burning money to maintain the business. Think again. Why do they go Grabpay and Fintech? It has always been Fintech and Data business that they are intending to go into. Once they gained traction, once they go listed, you will see shareholders questioning them on the decision to hold on to a loss making business, why don' t change business model etc. That' s when they may just sell off that segment to CDG.
To me yes maybe the taxi industry is a sunset industry and a declining one (which is why CDG is trying and definitely have to diversify to survive) as lesser young people are keen to join, but it will not be completely dead at least not in the next 5-10 years until a new disruption comes. Tell me a country where PHV has taken over completely and killed off taxis? I can' t think of any, not even China. In fact in many countries like SG and MY, the govt is more keen to protect taxi drivers than PHV, the former is more easily regulated and still is a big group of employment.
Conman ( Date: 16-Dec-2020 05:28) Posted:
You are instead the most confused fellow in this thread.
With or without the pandemic, gov pays the same contract fees for bus and train. And gov paid extra relief for it to book as 'profits' for the last 2 quarters.
But for taxis, down trend continues not because of Covid. Every recession in the past was good for taxi business because unemployment pushed people to drive taxis but in this recession, there are more choices like driving PHV.
How do you see Phase 3 opening will be good for this zombie? Gov will pay more contract fees or relief money? More people will drive taxis? More people will learn driving? More cars will be inspected |
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