The Association will work with the relevant stakeholders to address drivers' concerns, queries on existing contracts, the adoption of new technology, and smooth onboarding onto the ride-hailing platform.
On 20 July 2023 (Thursday), Grab Holdings announced the signing of an agreement for Grab Rentals to acquire 100% of the shares in Trans-cab. This acquisition aims to digitise Trans-Cab’s fleet operations, improve driving experience for its taxi drivers, grow the driver base for Grab, and increase reliability for ride-hailing users.
Through this acquisition, Grab will gain a larger base of driver-partners from Trans-Cab’s taxi and car rental business, thus benefiting passengers with more reliable allocation, especially during peak hours. Currently, according to the company, Trans-Cab has a combined taxi and private-hire-vehicle fleet of more than 2,500 vehicles, and is accretive on a net income basis to Grab’s business. The acquisition will also include Trans-Cab's maintenance workshop and fuel pump operations.
Yeo Wan Ling, Advisor to National Taxi Association and Member of Parliament, commented on the acquisition: "The National Taxi Association has been representing the rights and welfare of our Trans-Cab drivers for over 13 years and we look forward to the continued support and trust of the new Grab Management.
"During the transition period, the National Taxi Association will work with our management partners from Grab and Trans-Cab on our drivers' concerns. This includes addressing drivers' queries on existing contracts, the adoption of new technology, and smooth onboarding onto the ride-hailing platform."
Ambitions moving forward
Looking forward, Grab is set to launch an enhanced Grab Driver application that will be integrated with the mobile display units in Trans-Cab taxis. This app will allow Trans-Cab taxi drivers to manage their earnings and receive bookings from the Grab platform, as well as Trans-Cab’s existing call centre, all through a single platform. With Grab’s allocation technology, Trans-Cab drivers will be assigned bookings in a highly efficient and intelligent way, maximising their productivity so they can earn more.
There are also plans to explore combining software with vehicle hardware to further enhance the driving experience. For example, Grab is looking to launch a pilot placing large displays in-vehicle where drivers can manage all jobs including street hail through one interface, with additional features such as navigation that drivers can choose to use.
Trans-Cab drivers that join the Grab platform will also receive benefits offered to all Grab driver-partners. These perks include free coverage from Grab’s personal accident insurance whenever they are online on the Grab platform, as well as access to GrabAcademy, where they can pick up skills from a wide range of free courses from data analytics to supply chain management and digital marketing. Driver-partners can also participate in Grab’s loyalty programmes for additional rewards.
The board of directors of Grab and Trans-Cab have approved the transaction, and it is currently expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions.
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