China's WeRide, Malaysia's Causeway Link among firms bidding to run driverless public buses in S'pore
[SINGAPORE] The local offshoot of Chinese self-driving technology company WeRide and a consortium led by Malaysian bus operator Handal Indah, also known as Causeway Link, are among four companies that have submitted bids to participate in a trial of autonomous public bus services here.
The Land Transport Authority (LTA) called a tender in January seeking proposals for the trial, which is slated to start from mid-2026, on two public bus routes – one in Marina Bay and Shenton Way, and the other in one-north in Buona Vista.
The tender, which closed on June 9 and is expected to be awarded by the end of 2025, drew four submissions in total.
Apart from WeRide (Singapore) and the Handal Indah consortium, the other two tenderers are vehicle distributor Cycle & Carriage Automotive and another consortium led by MKX Technologies.
According to business records, MKX Technologies was incorporated in Singapore in April and has two shareholders.
The majority owner is X Star Technology, a Singapore subsidiary of Chinese online vehicle financing company Yixin Group, and the minority owner is MK.X, a Japanese electric car-sharing company.
A NEWSLETTER FOR YOU
Friday, 8.30 am Asean Business
Business insights centering on South-east Asia's fast-growing economies.
Sign Up
Sign Up
Government procurement website GeBiz did not state the other companies that make up the Handal Indah and MKX Technologies consortiums.
The Straits Times has contacted WeRide, Handal Indah, Cycle & Carriage and X Star Technology for comment.
LTA previously said that it will start the trial by buying six autonomous buses with at least 16 seats and deploying them on bus services 400 and 191. This is so the authority can assess the feasibility of self-driving technology for public bus services and gain operational insights.
Former transport minister Chee Hong Tat had said that the use of autonomous vehicles would help to address pressing manpower challenges in the public transport sector, where it has been difficult to hire drivers.
LTA's plan is for the autonomous public buses to operate alongside existing manned buses for an initial three-year period. Depending on how they perform, LTA may buy up to 14 more autonomous buses to expand the trial to two more routes later.
LTA said it chose to trial the self-driving buses on services 400 and 191 because they are shorter and simpler routes. The authority is also taking a phased approach so it can thoroughly assess the reliability of autonomous vehicle technology while ensuring public safety.
During the initial phase of the trial, the self-driving buses will have bus drivers on board to act as safety operators, and the buses will be monitored in real time by LTA.
Extra safeguards, such as requiring all passengers to be seated and to wear seat belts, will be put in place, and a remote safety operator will be allowed to take over the supervisory role only after at least six months of testing.
LTA had said that the autonomous vehicle developer selected for the trial will have to work with public transport operator SBS Transit, which runs services 400 and 191, to come up with operational concepts and plans for operating the autonomous public buses.
The authority said it will evaluate the proposals it receives based on the maturity of the technology, the record of the autonomous vehicle developer and its ability to meet operational needs.
Other factors being considered include the supporting infrastructure, such as fleet management and vehicle charging systems.
WeRide, which holds driveless vehicle operator permits in China, the US, the United Arab Emirates and France, is no stranger to self-driving vehicle operations in Singapore.
Since April 2024, it has been running an autonomous shuttle bus service at integrated resort Resorts World Sentosa. Two of WeRide's driverless road sweepers have also been on trial on public roads in the Marina coastal area since October 2024.
Handal Indah has some autonomous vehicle know-how, too, via company founder Lim Han Weng's other business, Yinson Holdings.
In 2021, Yinson backed Singapore-based autonomous vehicle start-up MooVita, which today operates a driverless shuttle bus service at Ngee Ann Polytechnic – albeit with a safety driver on board. THE STRAITS TIMES
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
40 minutes ago
- Straits Times
China bans bank from luring depositors with popular Labubu dolls
A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators. PHOTO: EPA-EFE BEIJING – A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators, underscoring the increasingly fraught battle among banks for customers as interest rates and profit margins fall. The Zhejiang branch of the National Financial Regulatory Administration has asked local banks to refrain from giving non-compliant perks to attract deposits, according to people familiar with the matter. The guidance came in the wake of a promotion by Ping An Bank, which has been offering Labubu collectibles – blind box toys endorsed by celebrities including Lisa from the K-pop group Blackpink – in multiple cities for new depositors who can park in 50,000 yuan (S$8,960) for three months. Such a practice, which often involves offering free items like rice or small home appliances, as well as e-gifts such as memberships at Internet platforms, was seen as driving up costs at banks and hurting their margins, said the people. While Ping An Bank's marketing campaign went viral on Chinese social media platform Xiaohongshu and sparked strong interest from potential savers, it also drew criticism from state media which said it was 'not a long-term solution.' Chinese lenders are walking a tightrope as they balance between deposit taking and protecting margins that are now at record-low levels across the sector. The nation's big banks just conducted a new round of deposit rate cuts in May, with smaller peers following suit and pushing term deposit interests down to just a little above 1 per cent. The Zhejiang banking regulator has urged the immediate suspension of any products involved in non-compliant deposit-gathering practices, along with the removal of related promotional materials, the people said. It remains unclear whether the regulator's other local divisions have issued similar guidance. The regulator didn't immediately respond to a request for comment. Ping An Bank said the initiative started off as a small-scale project launched by a local branch, declining to comment further. China said in a 2018 rule that commercial banks shouldn't attract deposits through 'inappropriate means' such as giving away physical gifts or returning cash. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
an hour ago
- Business Times
Prudential, Sino Biopharm among top stock picks for Hong Kong, Indonesia, Malaysia: UOBKH
[SINGAPORE] Amid tariff risks, forex volatility and other uncertainties, investors might be looking for guidance on where to put their money. UOB Kay Hian (UOBKH) updated its alpha picks for June, focusing on domestic catalysts and high-growth opportunities across Hong Kong, Indonesia and Malaysia, based on its report on Jun 5. Here are its top picks in the three markets. Hong Kong Hong Kong's Hang Seng Index rebounded 5.3 per cent month on month in May following the 90-day tariff war truce that China and the US reached, UOBKH noted. The agreement was to lower US tariffs on Chinese goods from 145 per cent to around 30 per cent, with reciprocal action by China on US goods. 'Nonetheless, geopolitical uncertainties and tariff war risks remain. Hence, we continue to favour domestic policy beneficiaries and defensive sectors that have been gaining traction in recent weeks,' it said. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'May's economic data showed weakness and we opine that the (Chinese) government would accelerate support policy implementation in the near term,' its analysts said. They have added Prudential and Sino Biopharm to its 'buy' list. Analyst Kenny Lim maintained a 'buy' call on Prudential with a higher target price of HK$128, given that its new business profit rose 12 per cent year on year in Q1 2025. He expects the positive momentum to continue into H2, mainly due to margin improvement from product repricing actions and an improving product mix. Analysts Carol Dou and Sunny Chen also maintained a 'buy' call on Sino Biopharm with a higher target price of HK$5.80. This is largely due to the company's strong clinical progress with its oncology pipeline and innovative drugs which drove its 2024 revenue to 28.9 billion yuan (S$5.2 billion), up 10.2 per cent from the previous year. Its six newly approved drugs in 2024 are expected to hit double-digit revenue growth in 2025. The bank maintained a 'buy' call on other Chinese stocks including Alibaba, China Resources Beer and Xiaomi. Indonesia UOBKH removed all of its previous alpha picks for Indonesia following notable performance shifts in May 2025. It said that due to anticipation of monetary policy easing – which materialised when Bank Indonesia implemented a 25 basis point rate cut on May 21 – companies including Bank Central Asia and Bank BTN outperformed during the month. Telco service company Erajaya Swasembada also delivered strong returns, supported by positive sentiments from the iPhone 16 launch event in April, increasing traction in the Chagee tea brand, and optimism ahead of the upcoming electric vehicle launch of XPeng. Conversely, technology-related names such as GoTo and Buka underperformed, as investor attention turned towards beneficiaries of interest rate cuts and laggard sectors. The Indonesian government introduced six stimulus initiatives aimed at boosting domestic consumption through June and July, including wage subsidies and public transport discounts. These measures, combined with falling oil prices and a strengthening rupiah, are expected to improve sentiment in the consumer non-cyclical sector, which underperformed the Jakarta Stock Exchange Index by 5.3 per cent in May, the analysts said. Looking ahead, UOBKH is shifting its focus towards consumer-related, 'safe-haven' and high-growth stocks. Analyst Benyamin Mikael placed a 'buy' call on Central Omega Resources – with a raised target price of 570 rupiah and potential upside of 46.9 per cent – on the back of 'expected continued earnings momentum and higher nickel ore prices'. Meanwhile, analyst Willinoy Sitorus put a 'buy' call on Cisarua Mountain Dairy, and raised its target price to 6,000 rupiah, with a potential upside of 29 per cent. He noted that it has seen strong consumer food sales, lower milk powder price and strengthening rupiah. Other alpha picks include Aneka Tambang, with a target price of 3,300 rupiah, implying a slight potential downside of 0.6 per cent; Indofood CBP, with an upgraded target price of 13,800 rupiah, offering an upside potential of 27.8 per cent; and Sumber Alfaria Trijaya, with a target price of 3,400 rupiah, representing a 34.4 per cent upside from the closing price on Jun 2. All were assigned a 'buy' rating by UOBKH. Malaysia The Bursa Malaysia KLC Index fell 2.1 per cent in May. Sector-wise, the biggest laggards were automobiles, which dropped 17 per cent, and consumer stocks, which fell 4.3 per cent, said UOBKH. The strongest performers were construction stocks, which jumped 11.6 per cent, property-related stocks, which climbed 3.2 per cent, and building materials. Other notable gainers included the port sector, which rose 6.5 per cent, and selected subsectors within technology, analysts noted. On the downside, glove manufacturers posted a 11.3 per cent loss. UOBKH's May Malaysian portfolio outperformed the benchmark, delivering an average positive return of 7.2 per cent. Only RHB Bank posted negative returns, dropping 3.3 per cent in the month. Looking ahead, UOBKH is shifting focus towards domestically driven catalysts, citing potential headwinds for exporters from forex volatility and a seasonal 'summer lull', coinciding with the end of the US 90-day tariff pause and signs of a US slowdown. A major domestic catalyst is the kick-off of the Penang LRT project, benefiting construction players such as Gamuda and Hume Cement. Other key drivers included continued strong earnings from Duopharma and NorthEast, and the expected broad adoption of MyDigital ID Superapp, developed by MyEG-Mimos – particularly among subsidy recipients and travellers. UOBKH has taken a less defensive stance in its latest alpha picks, adding Hume Cement and removing citing limited near-term catalysts for IOI Properties and NationGate, and reduced need for defensives following the market pullback. Analyst Ku Wei Xiang maintained a 'buy' call on Hume Cement, with a target price of RM4.05, implying 54.5 per cent upside from the closing price on Jun 9. He noted that the commencement of the Penang LRT project would translate to around RM2 billion (S$607.1 million) to RM2.6 billion in cement demand, assuming a RM13 billion construction cost of the project. Other alpha picks included Duopharma, with an unchanged target price of RM1.46; Eco World, with an unchanged target price of RM2.37; Gamuda, with a raised target price of RM5.55; IJM Corporation, with a higher target price of RM3.15; and NorthEast, with an unchanged target price of RM0.47. All were assigned a 'buy' rating by the research house.
Business Times
an hour ago
- Business Times
Singapore and Johor Regent swap prime Holland Road land plots as royal family eyes development
[SINGAPORE] The government has agreed to swap an 8-hectare land parcel along Holland Road, for a 13 ha-plot in the same area belonging to the Regent of Johor His Royal Highness Tunku Ismail (ROJ). The 13 ha-parcel is part of a larger 21.1 ha swathe just outside the Singapore Botanic Gardens, owned by the Johor royal family for generations. The plots sit in an exclusive residential neighbourhood and a designated Good Class Bungalow area, where mansions command tens of millions with one at nearby Gallop Park recently going for S$58 million. The land swap agreement comes as the Johor Regent plans to develop his land, said the Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) in a joint statement on Tuesday (Jun 10). 'The Singapore government and the ROJ have agreed to undertake a land swap, so that the ROJ's planned developments will be further away from the Singapore Botanic Gardens Unesco World Heritage Site,' the authorities said. 'The land parcels to be swapped are of compatible value,' they said at a briefing on Tuesday, without disclosing the actual amount. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The ROJ will transfer a 13 ha-plot, along Tyersall Avenue, to the government. In exchange, Singapore will transfer 8.5 ha of state land to the ROJ. With the swap, the ROJ will own 16.6 ha of land in an area bounded by Tyersall Avenue and Holland Road, including the 8.1 ha-plot which he already owns. The exchange is expected to be completed this year, and the land owned by the ROJ is suitable for low-rise and low-density residential use. The Business Times understands that the authorities have assessed that the state land parcel to be transferred to the ROJ can be potentially used for residential purposes. The plot is currently vacant and vegetated. It has been zoned 'special use' since the 1958 Master Plan. After the land swap, the ROJ can determine the use and submit an application for rezoning. It is unclear how much in land betterment charges, which developers pay for intensified use of land, will be charged. The surrounding area, to the west, is zoned residential with a gross plot ratio of 1.4. The plot is expected to have a value comparable to other nearby residential plots due to its similar development potential. In contrast, a plot located further away, such as the parcel to be transferred to Singapore, can be developed for lower-density residential use. Any development plans will be subject to due process, said the authorities. 'URA and agencies will assess any development applications and ensure that the proposed development is sensitive to the surrounding site context.' The agreement was made between the Singapore government and a private individual, and the Malaysian government and Johor State governments were not involved in negotiations. News of the land swap comes a week after the Singapore government announced it would acquire two separate small land parcels totalling about 0.79ha from the Malaysian government, as part of plans to redevelop Woodlands Checkpoint, a major land border crossing between the two countries. Singapore had previously written to Malaysia in May 2022 and November 2023 to propose the purchase. Expansion works will begin in 2025, with the first phase to be fully operational from 2032. Development works on the Johor Regent's Holland Road plots will be subject to environmental studies to mitigate any potential impact on the environment, said URA and SLA. The government will keep the plot it receives from the ROJ undeveloped for now. The 13 ha-plot along Holland Road is currently zoned an open space. Media reports in 2021 speculated that the Johor royal family had plans to develop the land which housed Istana Woodneuk, a palace built by the royals' ancestors in the late 19th century. One analyst estimate put the value of the land at S$4.5 billion if it were to be sold for development. The 2.3 million sq ft area owned by Johor royalty was once larger but has gradually reduced as the Singapore government acquired land to extend the Botanic Gardens. According to Bloomberg, the Singapore government bought a chunk in 1990 for US$25 million and another 1.05 million sq ft, as big as some 12 football fields, in 2009 for an undisclosed sum. The latter plot is under the purview of the Singapore Botanics Garden and it brings the total size of the 154-year-old Botanic Gardens to nearly 74 ha.
