Trans-Cab boss venturing into car financing and leasing

Mr Teo Kiang Ang expects private-hire to make up 10 per cent of his business by the year end. He says he may even venture into car importing to complement his two new businesses.
Mr Teo Kiang Ang expects private-hire to make up 10 per cent of his business by the year end. He says he may even venture into car importing to complement his two new businesses.ST PHOTO: GAVIN FOO

Move follows growth surge in private-hire car sector, which has dented taxi business

Sixteen years ago, cooking gas supplier Teo Kiang Ang got out of his comfort zone and plunged headlong into the taxi business - the first to do so when the Government liberalised the industry, which was then dominated by ComfortDelGro.

Within a few years, Mr Teo's Trans-Cab became the second-largest taxi operator, with its red-and-white cabs surpassing fleets by incumbents CityCab and SMRT in size.

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A version of this article appeared in the print edition of The Straits Times on August 20, 2019, with the headline 'Trans-Cab boss venturing into car financing and leasing'. Print Edition | Subscribe