How is ComfortDelGro's Uber deal different from the Grab/Taxis tieup?

The alliance could focus on fleet management and booking software solutions.

ComfortDelGro Corporation (CD) signed an exclusivity letter with Uber to discuss the formation of a potential strategic alliance.

The two declined to provide further details of the exclusivity letter.

According to UOB KayHian, the alliance may bring help both parties' fleet management, booking software solutions, and number taxis available. However, it is not sure yet if the talks will result in a definitive agreement.

CD’s taxi idle rate rose 5% in Q2, up from 3.5% last quarter. Its taxi fleet also decreased 9% YoY to 15,556.

Here's more from UOB Kay Hian:

We believe CD’s potential alliance with Uber may be different from Grab/Taxis tie-up. Recall in March, Grab became the third-party booking platform for all other taxi operators (Trans, SMRT, Premier, Prime), except CD.

Besides making taxis available on Uber’s booking app, CD’s alliance with Uber may also focus on mobility services such as fleet management and booking software solutions.

We believe this could even extend to other parts of CD’s operating segments, such as automotive engineering services or inspection/testing services.

We note CD’s inspection/testing arm, VICOM, currently does inspection for private hire cars, such as decal inspection as well as decal installation and registration.

With Grab currently raising US$2.5b funding, we reckon the operating environment will remain competitive. We believe a potential alliance with CD may allow Uber to benefit from CD’s taxi fleet, which is the largest in Singapore with a market share of about 60%.

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