SINGAPORE - Media OutReach - 5 August 2022 - Carros Project Management Pte Ltd (The Company), a subsidiary of BS Capital Group (The Group), is pleased to announce the successful purchase of 100% shares in Premier Corporation Pte Ltd ("Premier Corporation''), enabling the Group to take the reins of Premier Taxis Pte Ltd ("Premier Taxis"), holder of a Street-Hail Service Operator License (SSOL) and a Class 2 Ride-Hail Service Operator License (RSOL), along with its other subsidiaries. The move comes at a time of pivotal growth for the Group and marks a significant development in its horizontal integration strategy.
Incorporated in 2003, BS Capital Group owned by SGX-Mainboard listed Enviro-Hub Holdings' controlling shareholder and executive chairman, Raymond Ng Ah Hua. Over the years, the Group has built a diverse portfolio of industrial, commercial, retail and residential assets, establishing itself as a key regional player. In 2012, The Group founded Carros Project Management Pte Ltd (The Company), a subsidiary with the purpose of expanding The Group's presence in different sectors.
One of Carros Project Management's signature projects is the Carros Centre, an eight-story automotive mega hub with a total build-up area of 2.3 million sq ft of space. The project has received wide acclaim for creating an one-stop eco-system with more than 200 automotive-related occupants, a testament to the development's success.
Commenting on the acquisition, Owner of The Group, Mr. Raymond Ng said, "As we emerge at the tail-end of the pandemic, it's important that we take steps well in advance so that we can best position ourselves to capitalize on any opportunities that arise. The acquisition of Premier Corporation comes at a time of renewed interest in travel and leisure activities."
The Company further deepened its commitment to the automotive industry with the launch of BIS Motoring at the end of 2017. The venture into the Motor Vehicle Leasing Business has already gained much traction. Currently, the Company operates a fleet of more than 1,000 private hiring vehicles (PHV).
Carros Project Management believes it has a lot to gain from the synergies between its PHVs and Premier Taxis' Taxis. The acquisition of 100% shares in Premier Corporation on August 5th, 2022 will further strengthen its foothold in the automotive space, allowing the Company to expand their fleet and provide greater convenience to commuters.
The issuer is solely responsible for the content of this announcement.