We don’t mind if your credit rating is excellent, poor, or somewhere in the middle—we are here to help. Or do you want to expand your business? Overdraft fees, and mounting late fees, can quickly overtake your finances and ruin your ability to make ends meet. DESPITE clear signs that the taxi industry is overcrowded – operators posting thinner profits, outright losses and hundreds of taxis laid up idle – there is a new applicant for a taxi operating licence.Confirming market talk that has been circulating for weeks now, the Land Transport Authority (LTA) told The Straits Times: ‘LTA received an application for the taxi operator’s licence recently, and we are currently evaluating the application.’The authority would not reveal the identity of the applicant, but The Straits Times understands that the applicant is Tiong Asia Marine, a small company that repairs, paints and cleans boilers for the shipping industry.Since the Singapore taxi industry was liberalised in 2003, four newcomers have entered the fray to join incumbents HIGH energy costs and diesel subsidies to taxi hirers, as well as a weaker British pound, put the brakes on Comforters Corp’s third-quarter net profit, dragging it down 18.1 per cent to $48.3 million from a year ago.But revenue for the three months to Sept 30 rose 5.2 per cent to $811.5 million on organic growth in Singapore, China, Australia and Vietnam.Q3’s earnings per share dropped 18.3 per cent to 2.32 cents from 3.04 cents.The land transport giant reported growth in bus and rail readership, taxi hired-out rates, vehicle inspections and driving school enrolment but the translation effect of the weaker currencies of the UK and Australia weighed down these positive factors.Q3 operating expenses rose 8.2 per cent to $733.6 million due mainly to increases in fuel and electricity costs, purchases of diesel for resale, provision of accident insurance claims, payment for credit and Nets card transactions, and diesel subsidies.
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