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Grab to acquire 100% of Singapore taxi company Trans-cab

The Grab acquisition includes Trans-cab's taxi and car rental business, maintenance workshop, and fuel pump operations.

Esther Au Yong
·Finance Editor
Updated ·2-min read
Grab to acquire 100 per cent of Singapore taxi company Trans-cab. (PHOTO: Getty, Trans-cab)
Grab to acquire 100 per cent of Singapore taxi company Trans-cab. (PHOTO: Getty, Trans-cab)

SINGAPORE – Grab Holdings Limited will be acquiring Trans-Cab, Singapore's third largest taxi operator, via its private-hire car rental arm, Grab Rentals Pte Ltd.

In a statement on Thursday (20 July), Grab said that the two entities have signed an agreement for Grab Rentals Pte Ltd to acquire 100 per cent of the shares in Trans-cab. "Trans-cab has a combined taxi and private-hire-vehicle (PHV) fleet of more than 2,500 vehicles, and is accretive on a net income basis to Grab's business," Grab said.

The acquisition includes Trans-cab's taxi and car rental business, maintenance workshop, and fuel pump operations.

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Trans-cab's general manager Jasmine Tan said, "Consumer behaviours have shifted and we've recognised for some time the need to digitise the business and ensure our taxi drivers can continue to be competitive. We are confident this deal protects their future. Grab’s industry-leading tech will help our taxi drivers drive more productively and safely while serving their passengers better."

Yee Wee Tang, managing director of Grab Singapore said, "We see this as a strategic match with win-win-win outcomes for all. By boosting the number of drivers on our platform and helping them to operate more efficiently, we improve how quickly and reliably we find a ride for our passengers, whenever they need one."

Grab to launch enhanced Grab Driver application

Grab added that it plans to launch "an enhanced Grab Driver application that will be integrated with the Mobile Display Units in Trans-cab taxis". "The app will enable 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," it said.

"Grab also plans to explore combining software with vehicle hardware to further enhance the driving experience. For example, Grab is exploring a pilot to place large displays in-vehicle where drivers can manage all jobs including street hail through one interface, with additional features like navigation that drivers can choose to use," Grab noted. "Additionally, Grab plans to use tech to improve the taxi-sharing experience, which is currently done manually between taxi drivers on an ad-hoc basis."

Trans-cab drivers who join the Grab platform will also receive benefits offered to all Grab driver-partners.

The transaction is currently expected to close in the fourth quarter of 2023.

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