Trans-Cab Services Pte Ltd Information

TCS wholly owns Trans-cab Logistics Pte Ltd ("TLC"), a company principally involved in the sale and purchase of diesel and the operation of diesel pump stations. Our Group's core business is the operation of taxis in Singapore where we are the 2nd largest taxi operator. We hold a licence from LTA to operate taxis for a period of 10 years from 1 August 2003 to 31 July 2013. Since our establishment on 28 April 2003, our fleet size has grown rapidly within a short span of about six years from 50 taxis in 2003 to 3,159 taxis as at 31 December 2009, making us the second largest taxi operator in Singapore. Our taxi fleet includes 100 units of Mercedes taxis aimed to cater to the increasing demand for premium taxi services by business executives and tourists. In line with the Singapore Government's initiatives to foster a green environment with less pollution, we recognised that corporate responsibility is integral to creating a meaningful consumer and community connection and to achieving a positive impact on the environment. On 27 January 2003, LTA introduced a new licensing framework for taxi companies to allow greater competition within the taxi industry and to improve the quality of taxi services for the benefit of commuters. Our Chairman and Managing Director, Mr Teo Kiang Ang, saw the good opportunity and growth potential in the public transportation industry and applied for a TOL from the LTA. Mr Teo Kiang Ang is also the Managing Director of Union Energy Corporation Pte Ltd., which is carrying on the business of LPG retailing. Mr Teo was previously managing a sole proprietorship supplying diesel which has since been corporatized when Trans-cab Logistics was incorporated in 2007. Through his business of supplying diesel to consumers which included taxi drivers, Mr Teo has cultivated an extensive network of taxi-drivers, which was instrumental in the setting up of our business. Mr Teo established Trans-cab Services on 23 April 2003 to providing taxi services to the public. On 31 July 2003, Trans-cab Services ...