Transcab in a way is also link to govt, the shareholders are top
civil servants, in Singapore, to do a nos 2 business, if you hv no
govt backing, you can hardly cough it out, TC is the nos 2 hor. In
the intial liberalisation of Taxis industrial, many players was
asked to join in so as to make it very colorful, a real world of
competition, real privatisation with lots of color cabs, and there
was no restriction on this and that, most car leasing companies
were invited to become a player, so, those like smart, prime who
had thought it is a easy going business, rent out car as taxis..but
as times goes by, they are also hit by new restriction and all
these shits. They did not plan to care much about drivers, as long
as rental fees are paid, whatever drivers do is not going to be an
adminstrative cost to them.
Wu ya bo? Transcab is owned by Teo Kiang Ang with 41 million
shares. The rest are minority private shareholders with a few
thousand shares, except for Tan Lee Tiang with 9.9 million
shares.
Civil servants, especially top ones are not allowed to hold
shares in private companies lah.. They are only
appointed to the board as officers/directors of the companies,
not shareholders. CDG, SMRT, Citycab shareholders are
companies, not individuals. Ppl like Yang Ban Seng, Desmond
Kuek, Lim Jit Poh, Kua Hong Pak, Chin Harn Tong are directors of
the taxi companies, not shareholders. They are appointed directors
to represent the interests of their parent companies who are
the shareholders.
