"Singapore is looking to enhance regulatory oversight on ride-hailing operators, such as Grab and Go-Jek. Based on a new bill outlined in Singapore’s Parliament, ride-hailing operators with at least 800 vehicles will now need to be licensed, while normal taxi companies will have a different license. Before 2013, there were 28,000 taxis. Currently, there are nearly 20,000 taxis and 45,000 private hire cars. The bill will provide the Land Transport Authority the mandate to supervise licensed operators. Unlicensed operators could face fines up to S$10,000 (roughly US$7,200) or imprisonment for as long as six months, or both. Singapore authorities are looking to strike the right balance between innovative and traditional transport options of commuters and drivers while ensuring safety and encouraging innovation in the sector." – Vinay Piparsania