CDL pops after selling South Beach stake to Malaysians; SIA Engineering hits five-year high
SINGAPORE – City Developments Limited (CDL) popped last week, after it announced it will sell its 50.1 per cent stake in the South Beach mixed project to its Malaysian partner's IOI Properties Group for about $834.2 million.
The transaction is expected to result in a gain on disposal of about $465 million for the financial year ending Dec 31, 2025, which will be used to reduce bank borrowings and lower its debt, CDL said on June 4.
The company had said in 2024 that it aimed to divest $1 billion in assets, and has announced about $600 million in divestments so far.
CDL's share price, which had declined following a public dispute between executive chairman Kwek Leng Beng and his son, chief executive Sherman Kwek, over control of the company's board, rose 8.5 per cent over the week to close at $5.25 on June 6.
SIA Engineering hit a five-year high of $2.98 on June 6, outperforming its average target price of $2.71 as investors ploughed into the stock.
The aircraft maintenance provider has been a favourite stock pick among analysts, who have begun identifying companies that could benefit from an expected capital infusion into local stocks before the end of the year.
As part of an effort to revive the stock market, the Monetary Authority of Singapore will be allocating $5 billion in seed capital to Singapore-based funds for investing in local stocks, and expects to shortlist suitable investment strategies by end-September.
Analysts reckon the funds will likely be deployed before the end of 2025.
SIA Engineering rose 8.5 per cent through to the week, and closed on June 6 at $2.94.
Great Eastern to address share trading suspension
Great Eastern Holdings on June 6 finally announced that minority shareholders will be able to vote on the delisting of the insurance company or a resumption of trading, nine months after its shares were suspended from trading on the Singapore Exchange (SGX) due to an insufficient public float of less than 10 per cent.
If shareholders vote in favour of delisting, major shareholder OCBC Bank will make a final exit offer of $30.15 per share, valuing the remaining 6.28 per cent it does not own at $900 million.
This revised offer represents a 17.8 per cent premium over OCBC's initial offer of $25.60 per share in May 2024. Independent financial adviser (IFA) Ernst & Young has assessed the new offer as fair and reasonable, after previously finding the earlier offer unfair but reasonable.
The delisting decision will be made solely by minority shareholders, as OCBC – which already owns 93.72 per cent – will abstain from voting.
The proposal requires at least 75 per cent approval at the upcoming extraordinary general meeting.
Of the 6.28 per cent of shares that OCBC currently does not own, two prominent shareholder families – the Lees and the Wongs – own a combined 3 per cent.
In January, it was reported that OCBC CEO Helen Wong had met them to persuade them to accept the earlier offer, though those efforts were reportedly unsuccessful.
The Lee family, which has ties to OCBC's founding, is expected by some to support the delisting. However, if the Wongs choose not to vote in favour, the resolution would require unanimous support from the Lees and the rest of the minority shareholders to pass.
If the delisting vote fails, shareholders will then vote on whether to resume trading of Great Eastern's shares. This resolution also requires 75 per cent approval. OCBC will be able to vote on this resolution.
Under the trading resumption plan, Great Eastern will carry out a one-for-one bonus issue, giving shareholders a choice of receiving either regular voting shares or Class C non-voting shares.
OCBC has indicated that if the delisting does not go through, it will vote in favour of the trading resumption and choose to receive Class C shares, at Great Eastern's request. This move would reduce OCBC's voting stake from 93.72 per cent to 88.19 per cent, restoring the minimum public float required for trading to resume.
OCBC has also stated that if the delisting fails and trading resumes, it has no intention of making another offer for the remaining shares.
Some analysts view the revised offer positively, noting that it is now considered fair, is in line with peer valuation multiples and offers a 17.8 per cent premium over the earlier bid.
However, they also caution that if trading resumes, liquidity in Great Eastern shares is likely to be limited due to OCBC's more concentrated shareholding in the company.
Other market movers
Units of Keppel DC Real Estate Investment Trust (Reit) rose 2.3 per cent to $2.24 on June 6, after it was announced that the Reit will replace Hong Kong-based conglomerate Jardine Cycle & Carriage on the Straits Times Index (STI), following a quarterly review.
The move, which will take effect on June 23, increases the total number of Singapore Reits on the index to eight, and is expected to increase their combined weight in the index to more than 10 per cent.
Internet service provider NetLink NBN Trust will replace Keppel DC Reit on the STI's reserve list. The other four companies on the reserve list are CapitaLand Ascott Trust, ComfortDelGro, Keppel Reit and Suntec Reit.
Oiltek International, a provider of vegetable oil processing technology, jumped by more than 9 per cent to 60.5 cents on June 6, when it successfully transferred its listing from the Catalist to the SGX mainboard.
The company first listed in March 2022 at 23 cents per share.
CEO Henry Yong said the move will enable Oiltek to gain greater visibility, liquidity and access to capital.
Oiltek International jumped by more than 9 per cent to 61 cents on June 6, when it successfully transferred its listing from Catalist to the SGX mainboard.
PHOTO: OILTEK
Ms Lee Khai Yinn, a partner at SAC Capital, which was Oiltek's former sponsor, said the company's move to the mainboard is an example of how the Catalist can serve as a platform for emerging firms to scale and succeed.
Shares of Singapore Paincare Holdings rallied last week after the Securities Investors Association (Singapore), or Sias, noted that a privatisation offer of 16 cents on May 27 undervalues the stock.
Sias noted that Singapore Paincare was listed at 22 cents per share at a premium to its unaudited net asset value per share in July 2020 during Covid-19, when valuations were depressed and the STI was trading at around 2,500.
It pointed out that the company should now be valued at a similar premium, at around 36 cents to 37 cents, given that the STI is trading at around 3,900, and 'well-managed healthcare companies generally trade at premiums to their net asset value'.
In any case, minority shareholders of Singapore Paincare should wait for a report to be released by an appointed IFA before selling their shares on the open market, said Sias.
Shareholders who do sell on the open market will not have recourse if the privatisation offer price is subsequently revised upwards, Sias added.
It also reminded shareholders that 'for a delisting to take place, the IFA has to conclude that the offer is both fair and reasonable'.
The Catalist-listed counter closed on June 6 at 17.4 cents, up 11.5 per cent through the week.
What to look out for this week
All eyes will be on US consumer price index data for the month of May, which will be released on June 11.
US consumers probably saw slightly faster inflation in May, notably for merchandise, as companies gradually pass along higher import duties, Bloomberg quoted analysts as saying.
Despite US President Donald Trump's efforts to pressure the Federal Reserve into quickly lowering interest rates, Fed chairman Jerome Powell has indicated they have time to assess the impact of trade policy on the economy, inflation and jobs market.
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CNA
4 minutes ago
- CNA
'No passengers, only drivers': Why the Singapore-Malaysia cross-border taxi scheme needs a revamp
SINGAPORE/JOHOR BAHRU: It is 2pm on a weekday at Ban San Street Terminal in Singapore, where licensed taxi drivers are authorised to pick up passengers headed across the border to Johor Bahru. A dozen or so people can be seen waiting idly in the sheltered terminal – but no one is there to board a taxi. 'There are only drivers here and no passengers,' said Mr Haniff Mahbob, 73, who has been a taxi driver for over 40 years. 'That is how bad the situation has become.' Over at Larkin Sentral Terminal in Johor Bahru, licensed Malaysian taxi drivers are also facing similar struggles. Business is somewhat better on weekends, though not by much. 'Sometimes, I would come at about 3am but would only get my first passenger at 7.30am,' 59-year-old Roslan Mahmod told CNA. Since the reopening of borders after the COVID-19 pandemic, the drivers have faced intense competition from illegal cross-border operators who offer to pick up passengers from their doorstep and drop them off at their intended destinations. 'It's over already,' said Mr Haniff, who added that there used to be long queues of passengers before the pandemic. 'Will it ever come back to the same glorious (days) as before? I doubt so, unless something drastic is done about what is going on in the industry.' Under the cross-border taxi scheme, up to 400 taxis from Singapore and Malaysia are licensed to pick up and drop off passengers only at a single designated point in the other's country - Larkin Sentral in Johor Bahru for Singapore taxis and Ban San Street Terminal in Singapore for Malaysian taxis. The scheme is underutilised, said Singapore's Land Transport Authority (LTA) on Sunday (Aug 3). There are approximately 300 licensed cross-border taxi drivers across Singapore and Malaysia in total. To join the scheme, LTA requires Malaysia-registered taxis to obtain a public service vehicle licence and a permit, while Singapore-registered taxis will need a permit from Malaysia's Land Public Transport Agency (Agensi Pengangkutan Awam Darat). Foreign-registered private vehicles are not allowed to provide chauffeured cross-border services as they are not appropriately licensed or insured, LTA said. Despite this, illegal operators have been eating into the earnings of the licensed taxi drivers, with some of these operators brazenly poaching passengers near the two pick-up points in Singapore and Johor Bahru. In recent weeks, LTA has been carrying out patrols at Gardens by the Bay and Changi Airport, as well as working with the Immigration and Checkpoints Authority (ICA) at a land checkpoint to clamp down on these illegal services. A total of 19 drivers were caught, and all their vehicles were impounded, LTA said on Aug 6. Meanwhile, LTA is mulling solutions such as the use of ride-hailing apps to book cross-border trips on licensed taxis, as well as to increase the number of boarding and alighting points in Singapore and Malaysia. The authority also clarified that there are no plans to fully liberalise cross-border transport via ride-hailing services, in response to recent Malaysian media reports suggesting that Singapore intends to do so. LOW DEMAND FOR LICENSED CABS There is no shortage of travellers crossing the Singapore-Malaysia border daily, with a record number of more than 578,000 crossings made on Jun 20 this year, ICA said on Aug 5. To this end, LTA said it is seeking to encourage the full take-up of the quota of licensed taxis, given the growing commuter demand for more convenient cross-border travel. Of the nine taxi drivers that CNA spoke to, some said that commuters are not opting for licensed services when they want cross-border transport, and as such, there is no point in increasing the number of drivers available. Due to the low demand for their services, licensed taxi drivers in both cities often have to wait long hours for a single fare. When CNA visited Ban San Street Terminal on two consecutive weekdays, a few Malaysian taxi drivers who had been waiting for passengers on Tuesday were seen at the same spot on Wednesday. They said they slept in their taxis because there were no passengers to pick up. Prior to Singapore's recent clamp down, unlicensed cross-border operators would frequently park near the terminal and lure customers away, said Mr Mohamed Yazid, 57, who started working as a taxi driver in Singapore in April. He added that this situation is unfair to licensed taxi drivers, who are subject to regulatory oversight from authorities in both countries. 'Is it fair for me? Not fair. But they are stealing my passengers, my livelihood,' said Mr Mohamed. Associate Professor Walter Theseira, a transport economist from the Singapore University of Social Sciences, said that these licensed cross-border taxis are not providing consumers the service they want. Cross-border taxis are only allowed to pick up or drop off passengers at a designated point when outside of their home country. A one-way trip costs S$60 (US$47) per car, or S$15 per passenger. However, they may pick up and drop off passengers anywhere within their home country – subject to additional fees. For example, a Singapore-registered taxi can only pick up and drop off passengers at Larkin Sentral in Malaysia, but can pick up passengers from anywhere in Singapore, apart from Seletar and Changi Airport, for S$80. LTA said the reason for this arrangement is to ensure that foreign taxis do not ply the roads illegally to provide point-to-point services outside their home country. On this, Assoc Prof Theseira said: 'What (passengers) clearly want is a service that picks them up and delivers them door-to-door from either side." He also noted that beyond door-to-door service, many passengers seek a chauffeured service that can take them around the neighbouring country for the whole day – services that illegal operators often provide. Mr Ibrahim Amat, 63, a Malaysian taxi driver with over 15 years of experience in cross-border taxi services, said the movement of taxis under the scheme is 'very limited." 'Right now, unlicensed drivers are dominating the market because they can take passengers exactly where they want to go,' he told CNA. On Wednesday, Senior Minister of State for Transport Sun Xueling said in a post on Facebook that LTA has been ramping up enforcement against illegal point-to-point services. 'Such services put passengers at risk, and harms the livelihoods of law-abiding licensed drivers,' she wrote. Land Transport Authority – We Keep Your World Moving has been ramping up enforcement against illegal point-to-point... Posted by Sun Xueling on Tuesday, August 5, 2025 Since 2022, LTA has caught 136 drivers for providing illegal cross-border services through foreign-registered vehicles. Those found providing illegal ride-hailing services face up to S$3,000 fines and/or 6 months' jail. Their vehicles may also be forfeited. MORE FLEXIBLE RATES Currently, it costs S$60 per trip on a licensed cross-border taxi, regardless of how many passengers there are. Each taxi can accommodate no more than four adult passengers. Passengers that CNA spoke to were not concerned about the S$60 price, as prices for door-to-door cross-border services offered by illegal operators can cost upwards of S$90, based on rates published online. But the fixed nature of the pricing is an issue, said Assoc Prof Theseira, as it does not consider peak hours or congestion levels on the Causeway. An average one-way trip takes 45 minutes to at least one and a half hours, depending on traffic. Assoc Prof Theseira said that this is a possible reason for the low take-up rate of licensed drivers. 'And that's another problem, because in Singapore, the fare levels have risen quite significantly in the last couple of years, making it even more of a losing proposition,' he said. The fixed fare was raised in 2022 from S$48 per trip. While illegal taxi services still cost more, they also feature flexible pick-up and drop-off points, and the cars can accommodate seven or eight passengers. Licensed taxi drivers from Singapore told CNA that they incur costs that illegal operators do not, such as the season's parking fee at the terminal at around S$30 a month, a trip fee at Larkin Sentral of around RM15 (S$4.60), and the need to renew a bi-annual permit from Johor Bahru that costs S$50. 'You minus everything, what is left for us is peanuts lah,' said Singaporean taxi driver Mr Haniff. He added that petrol prices and taxi rental have increased over the years, with rent for newer taxi models costing about S$120 per day – equivalent to the earnings from a round trip. 'How are you going to increase (the rate) today, when you don't even have passengers. When there's no more demand, you cannot even have a say,' he said. MORE PICK-UP AND DROP-OFF POINTS Nevertheless, there are still those who prefer licensed cabs over the alternative for safety reasons. 'This is like my third time (in Singapore), but I'm still very new with the familiarity, so I'll probably just go with the legal one, as I don't want to get scammed, or kidnapped or anything like that,' said Ms Nurul Anis Shairah, a 28-year-old Malaysian who works in the petrochemical industry. However, she pointed out that the walking distance from the terminal to nearest MRT station in Bugis was 'quite challenging', especially if she has heavy baggage. Other passengers CNA spoke to at Ban San Terminal and Larkin Sentral also felt that more drop-off and pick-up points would make the scheme more appealing. 'I would prefer if these taxis could pick us up directly from our homes so I don't have to go to Larkin. It's very difficult and inconvenient if we have a lot of items,' 57-year-old Ida Asiah, who regularly takes licensed taxis to travel to Malaysia, told CNA. A Singaporean passenger who wanted to be known only as Mr Lee said he is now considering taking licensed cross-border taxis as authorities are clamping down on illegal private operators, which he used to frequent. 'For us seniors, the best is the minimal transfers, the better,' said the 77-year-old retiree, adding that the taxi service is inconvenient because of the fixed drop-off point at Larkin Sentral. He said he usually pays S$400 for unlicensed services that pick passengers up from anywhere in Singapore and often comprise six-seater cars that can ferry his group around Johor Bahru for the entire day, and not just from point to point. A Malaysian taxi association and several drivers told CNA that they have long advocated for more flexible alighting and boarding points to enhance passenger convenience and reduce reliance on unlicensed taxi services offering door-to-door options. 'We have long sought permission from LTA to be allowed to drop off passengers directly at any destination in Singapore … illegal taxi services are very widespread and they provide door-to-door services between Singapore and Johor, which puts licensed cross-border taxis at a disadvantage,' said Mohd Suhaimi Saidi, who manages Malaysia-registered cabs at Larkin Sentral. Besides improving the flexibility of alighting and boarding points, Mr Suhaimi, who is also the president of the Singapore-Johor Taxi Association, said that integrating licensed taxis into ride-hailing platforms could further enhance the traditional taxi industry. Currently, passengers have to either call taxi providers or book a taxi directly at the designated terminals. 'Today, passengers would prefer to simply call for a vehicle to pick them up from their homes … we need to keep up with the times,' he told CNA. LIBERALISING RIDE-HAILING? During a recent meeting with Singapore's Acting Transport Minister Jeffrey Siow, Johor state's chief minister Onn Hafiz Ghazi said that cross-border e-hailing services could serve as a 'catalyst' for a more user-friendly, safe and competitive transport system, while strengthening integration between both countries' public transport networks. View this post on Instagram A post shared by Onn Hafiz Ghazi (@onnhafiz) 'This service not only offers more flexible, on-demand mobility options for users but also has the potential to ease congestion on major routes and create incomes for local drivers,' he was quoted as saying by Malaysian news outlet Malay Mail on Aug 3. Liberalisation is distinct from allowing licensed cross-border taxis to use ride-hailing platforms, as it would allow any private hire vehicle on such platforms to ferry passengers across the Causeway. This is not the first time the Johor state government has indicated interest in integrating ride-hailing services for cross-border travel. Earlier in June, Mr Onn Hafiz had said that the state government is in talks with ride-hailing company Grab to revise the Cross-Border Travel Agreement, as part of broader efforts to enhance Johor's tourism and transportation sectors ahead of Visit Johor 2026. Visit Johor 2026 is a state-led campaign aimed at promoting Johor as a key travel destination, with plans to enhance connectivity, infrastructure, and visitor experience. But taxi drivers from both sides are wary of the implications of liberalising ride-hailing and extending cross-border travels to private-hire cars. Mr Roslan Mahmod, 59, who has been ferrying passengers legally across the border for about 19 years, said he would be 'very disappointed' if private hire cars were allowed to utilise ride-hailing platforms to do cross-border transfers. 'It's quite difficult for us, there are a lot of taxis but not many passengers,' he told CNA at Larkin Sentral. Agreeing, another fellow Malaysian licensed taxi driver, Mr Zaid Muhammad said that such a move could flood the market with more drivers without an increase in commuter demand. 'This could lead to lower prices,' he said. 'It is better that licensed taxis are prioritised on ride-hailing platforms,' he added, referring to LTA's recent statement that it is considering the use of ride-hailing apps to book cross-border trips on licensed taxis. Dr Rosli Khan, managing director of MDS Transport Consultancy based in Malaysia, said that introducing ride-hailing apps to operate cross-border is not straightforward and would require bilateral agreements that harmonise these regulatory areas, which is 'politically and administratively complex'. 'For example, if a Malaysian driver commits a fare offence in Singapore, or vice versa, which country's authorities will take action? The current legal framework is not designed for such shared enforcement,' he said. WHAT ELSE CAN BE DONE? Beyond the solutions raised by the authorities on both sides, taxi drivers CNA spoke to also had various ideas on how to revitalise the trade. One of them is to allow taxis to drive on the bus lane at the Causeway so they will not be held back by peak hour congestion, Singapore taxi driver Mr Mohamed said. 'Because taxis are not many. So I think when passengers see it (as) more convenient, then maybe there is a demand,' he said. He added that authorities could consider imposing fines on passengers who take illegal taxis to raise awareness. Presently, the drivers of these illegal taxis are subject to the fine of up to S$3,000, not the passengers. Experts agreed that more awareness is needed. Assistant Professor of strategy and entrepreneurship Terence Fan from Singapore Management University pointed out that a quick search on Google for cross-border taxi services will present many illegal options that may not seem suspicious to an average consumer. 'So that's why I think a lot of people may inadvertently go for these services which are not meant to be legal in the first place,' he said, adding that it is 'hard to blame' consumers for the lack of available information. Apart from promoting legal cross-border taxi services, the public should also be more aware of the dangers of taking illegal vehicles, he added. 'If you're in an illegal vehicle, you know, what happens if you're in an accident is that the relevant insurance policy may not cover the travellers,' said Asst Prof Fan. Dr Rosli of Malaysia's MDS Transport Consultancy also said that a joint regulatory body should be formed to create standardised licensing, fare structures and enforcement protocols for cross-border transport. In any case, all changes will require agreement from both the Singapore and Malaysian governments, as the cross-border taxi scheme is a reciprocal arrangement. Ultimately, Assoc Prof Theseira pointed out that the core problems affecting the cross-border taxi scheme must be addressed first. 'You have to fix the fundamentals, which is allowing more flexible pick-up and drop-offs and also allowing more flexible fare systems,' he said. If nothing is done, cross-border taxi services will continue to die out, he said. "It is already dying, simply because... neither the prices nor the service that is being offered is what people want."
CNA
4 minutes ago
- CNA
Why are major car-sharing firms not stepping into the point-to-point void amid BlueSG's pause?
SINGAPORE: With BlueSG pausing its services, several major car-sharing firms told CNA they would not be filling the point-to-point void for now, although one did not rule out moving into that space in future. Car-sharing operators GetGo and Tribecar said a point-to-point service would be operationally more challenging and that they are focusing on enhancing their current offerings, while Drive Lah said it is "possible" they may consider such a service in future. BlueSG is suspending its operations from 11.59pm on Friday (Aug 8), in what it calls a 'strategic pause' as it prepares for a relaunch next year. The company is the only car-sharing platform that offers point-to-point services in Singapore. This allows users to pick up a car at one location and return it at another. Experts said its move to suspend operations was likely influenced by losses caused by an ageing fleet. OPERATIONALLY CHALLENGING GetGo's chief executive and co-founder Toh Ting Feng said a point-to-point car-sharing model would present "significant operational challenges". 'It requires a substantial investment in infrastructure, such as dedicated parking and charging stations across the island, and a complex logistical network to ensure vehicles are properly distributed and maintained,' he told CNA. "Our current model, which focuses on a 'point A to A' service, is a strategic choice that allows us to provide a reliable and consistent experience for our users without these complexities." GetGo said that since its launch in 2021, it has seen "sustainable growth" – from over 400 vehicles and 10,000 users, to around 3,000 cars and half a million users in three years. Similarly, Tribecar's co-founder Adrian Lee said it would be operationally more challenging and labour-intensive to offer point-to-point services, as cars could be parked in many different locations across Singapore. "The primary challenge is that the current regulatory and infrastructural framework does not support the entry of new players into the point-to-point space," he said. "Without a change in policy, it is not possible to launch such a service." When asked if Tribecar may have plans to offer point-to-point services, he said the company's primary focus is to ensure users in heartlands have sufficient vehicles that are readily available. Tribecar is only allowed to park registered cars that are specifically tagged to individual carparks that allow season parking. The company has a fleet of 1,400 vehicles, an increase from an initial 350 vehicles five years ago. Mr Lee said Tribecar has seen a 35 per cent year-on-year increase in users over the past five years and described the car-sharing sector as a "competitive market". Drive Lah's chief executive and co-founder Dirk-Jan Ter Horst said expanding into the point-to-point space was not on top of their list at the moment, but he did not rule out the possibility. Drive Lah's peer-to-peer model means car owners and commercial providers can rent out their vehicles on the platform, and users can lease these cars. Describing the company as an 'Airbnb for cars', Mr Ter Horst said the platform now has 275,000 users and about 2,000 cars. Explaining why moving into the point-to-point space was not currently a top priority, Mr Ter Horst said its model means owners want their cars to be returned to their homes. "We see the type of use cases where people take it a little bit longer, not just for half an hour but from point to point, but they return it. 'And actually, from a cost point of view, it still makes sense – because the cost for one day or renting for six hours may still be worth it instead of doing two point-to-point trips,' he added. When asked if Drive Lah may in the future own a fleet to provide point-to-point services, he said this was "certainly possible". Transport analyst Dr Terence Fan said he does not think car-sharing operators will move into the point-to-point service space immediately. The assistant professor at the Singapore Management University (SMU) noted barriers to entry, such as securing parking lots in sought-after locations and taking the time to grow to a "reasonable presence". 'The competition has grown significantly over the past few years. Now almost every medium-to-large housing estate has one or more dedicated car parks used by car-sharing operators,' Asst Prof Fan said. 'New entrants need to offer something more to be competitive.' ACCREDITATION There were 97 complaints about car-sharing services in the first half of this year, said the Consumers Association of Singapore (CASE) on Tuesday. These complaints included pre-existing defects, poor maintenance, billing issues, high insurance excess and service reliability. The watchdog said it was working with operators to develop a CaseTrust accreditation scheme for the sector. This is aimed at raising standards and giving customers peace of mind, said CASE president Melvin Yong. "Consumer education will also play an important role as more people use car-sharing services. CASE will work with the industry to educate consumers on how to safeguard their rights and prevent disputes when using car-sharing services," Mr Yong told CNA on Thursday. Car-sharing services are private commercial arrangements and are not regulated by the Land Transport Authority. All three car-sharing operators told CNA they supported the accreditation scheme. Tribecar's Mr Lee said it would "formalise the role of car-sharing as an integral part of Singapore's sustainable transport ecosystem and provide a clear set of standards for the industry". "We have advocated for tough, comprehensive standards that will not only challenge us but also our peers and future entrants," he added. "This is because we firmly believe that elevating the entire industry is the only way forward to ensure sustained growth and public trust." Similarly, Mr Toh believes accreditation and guidelines would provide consumers with greater transparency and confidence. GetGo is also working with CASE to develop the accreditation framework. 'GetGo fully supports any initiative that aims to raise industry standards and protect consumers,' he said. 'An accreditation scheme would formalise the high standards we already adhere to,' Mr Toh added. "It would provide consumers with greater confidence and transparency. We view this as a positive development for the entire carsharing industry." Mr Ter Horst welcomed the accreditation, but hoped there would not be too much administrative work involved for the private car owners on Drive Lah's platform. "What you don't want to do is to scare people off ... you want to reduce the barrier as much as you can," he added. Asst Prof Fan also supported the "proactive move" by CASE, saying it could provide incentives for operators to behave in a "transparent and responsible manner" if done properly. "I hope the proposed accreditation won't simply (be) biased towards incumbents, and can shield operators from unjustified comments (or) complaints," he added. MAINTENANCE Some users have complained about the condition of cars they used on car-sharing platforms. Both Tribecar and GetGo said their vehicles undergo regular maintenance at intervals recommended by the manufacturer, besides adhering to LTA's inspection requirements. GetGo's Mr Toh said the company also conducts routine checks and has a system in place for users to provide real-time feedback. Tribecar's Mr Lee said its cars are taken out of service to be maintained typically at 10,000km to 15,000km intervals as recommended by the workshops. Almost all vehicles in the company's fleet also undergo annual inspections, he added. Besides reports by users on vehicle issues, Tribecar also proactively contacts 'super users' in specific areas for their input on the vehicle's condition, Mr Lee said. Mr Ter Horst said Drive Lah does not face frequent reports of dirty vehicles or poorly maintained cars on its platform. Although the company does not fully control how people maintain their cars, Drive Lah may block owners from offering their car on the platform if an issue has not been fixed, he added. Mainly, owners who rent out their cars on Drive Lah keep them clean for their own use and personally maintain them, he explained. "And also, if I'm renting your car, I feel that I need to be a little bit more careful when I use the car and that means issues like dirty cars – we hardly see it," he added.
CNA
4 minutes ago
- CNA
Commentary: As Singapore turns 60, what kind of society do we want to build?
SINGAPORE: Singapore will celebrate its 60th birthday tomorrow. While SG60 is a time of celebration, Prime Minister Lawrence Wong has also called it 'an opportunity for us to renew our commitment to Singapore.' Singapore has made important strides in partnering citizens. Recent policy shifts echo S Rajaratnam's vision of a 'democracy of deeds', where citizens partner with one another and the government to resolve issues and shape the future together. To build on this momentum and realise a democracy of deeds, we must deepen participation in lasting, inclusive and shared ways. CITIZENS AS CO-CREATORS IN POLICYMAKING While initiatives such as feedback unit REACH have made strides in citizen engagement, the government could go beyond consulting citizens to regarding them as partners in policymaking processes. This means involving them not only in giving feedback but in setting agendas, identifying problems and testing solutions. For example, expanding participatory budgeting at the town level on specific projects – following models in cities like New York, Chengdu and Sao Paulo – could empower residents to influence local spending and priorities, fostering a sense of rootedness and belonging. Building on programmes like HDB's Build-a-Playground, where residents contribute to designing neighbourhood playgrounds, citizens can also take greater roles in developing the estates they want to live in. MULTI-STAKEHOLDER PARTNERSHIPS Given the complexity of today's challenges – climate change, misinformation and an ageing population – collaborative partnerships are needed now more than ever. These challenges require a multi-sector approach. Governance could evolve to include businesses, civil society and academia working as equal partners. Each contributes unique strengths. Businesses bring innovation and resources, civil society offers advocacy and connections to communities, and academia provides research and facilitation. Philanthropic organisations such as The Majurity Trust and Temasek Foundation support emerging non-profit groups, such as those dedicated to helping vulnerable youths. Academic institutions like the Institute of Policy Studies (IPS) can serve as civic laboratories to test different citizen deliberation models, and community groups like M3 convene dialogues that bridge diverse stakeholders. Government initiatives can be complemented by a vibrant, citizen-led ecosystem. Providing funding, training and recognition for grassroots projects – while avoiding heavy-handed oversight – enables sustainable, community-driven solutions. Government efforts such as the SG Eco Fund, a S$50 million grant for ground-up initiatives to promote sustainability, and the Singapore Government Partnerships Office, launched in 2024 for people to find volunteer opportunities and share proposals, help citizens turn ideas into action. Complementing these, BAGUS Together, a 3P (people-private-public) partnership platform, provides resources for budding changemakers. However, citizens must actively embrace opportunities to be contributors and changemakers to make full use of these efforts. SHARED ASPIRATIONS These priorities are critical because Singaporeans increasingly seek not just to be consulted, but to be part of the decisions that shape their lives. The May incident in Tiong Bahru, where residents raised concerns over plans to repaint 14 HDB blocks purple, was turned into a moment of citizen participation. MP Foo Cexiang's decision to initiate townhalls and a community vote turned discontent into dialogue. This affirms that legitimacy today can be enhanced through active listening, deliberation, and shared decision-making. This incident is more than a local-level issue. It reflects a maturing democracy, where decisions made with citizens are stronger than those made for them. This ethos of citizen participation transcends party lines. During the General Election, opposition candidates also championed townhalls and deliberative platforms. Though formats vary, the consensus is clear: Deliberation grounded in citizens' lived reality strengthens policy legitimacy and signals a shared political aspiration. WHAT KIND OF SOCIETY WILL WE BUILD? As Prime Minister Wong mentioned at IPS' 35th Anniversary Conference, the refreshed social compact is less about 'I, me, and mine', and more about 'we, us, and ours'. Realising this vision demands that the government lead with openness, institutions remain adaptable and citizens embrace their role in shaping the future. SG60 is a call for all of us to unite; an invitation to lead a project or participate in the community – online, physically, or even via a survey on how you may feel about a situation. What matters, ultimately, is that we begin. A 'we' society cannot be delivered by government alone. It must be built by all of us. This is a choice each of us can make. The question now is not what the government will do, but what kind of 'we' society we will craft together.
