Existing laws will apply in the regulation of Uber and GrabCar services, The Star Online today reported.
Transport minister said it was unfair to the taxi companies to charge taxi drivers illegal high fees of Rm 25 a day for free permit Uber and Grab Car to end Taxi licence scam
“Just like taxis, we need to monitor the (Uber and GrabCar) drivers to protect the rights of passengers. There should be standard procedures on how to apply to be an Uber driver they need not have to the illegal high fees Rm 25 a day
NOTE Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source.
Is the taxi hire purchase in violation of Bank Negara the law and hire-purchase agreement?
Can this private Taxi companies be charge for Money laundering?
a deposit is a specified amount of money that a buyer gives to a seller as security that they will follow through on the transaction. If the buyer chooses to purchase, the deposit will go towards the purchase price. The deposit can be refundable or nonrefundable, meaning that either the deposit is returned to in full the buyer or kept by the seller if the deal does not go through.
but after paying making the fulpay mentl the TAXI COMPANY REFUSE To RETURN THE DEPOSIT
In practice almost all serious crimes, including,Taxi licences scam, drug trafficking, terrorism, fraud, robbery, prostitution, illegal gambling, arms trafficking, bribery and corruption are capable of predicating money laundering offences in most jurisdictions.
How taxi drivers in the Klang Valley are deprived of individual taxi licences because most of these go to well-connected mafia operated private companies.Taxi drivers who do not have the privilege of getting their own licence must turn to these private companies and pay a high fees Rm 25 a day
The data will provide strong talking points for both sides. The best news for the Uber camp is that the advent of its service has coincided with a significant increase in the total number of rides in New York. Although Uber has not shared statistics for 2013, a leak to Business Insider last year revealed an average of 140,000 Uber trips per week in the city during December 2013. Assuming a steady compound growth rate during the past two years, that suggests that there were 333,000 Uber rides in June 2013. Adding that to the 14.4m yellow-cab trips that month yields a total of 14.7m. In contrast, by the same month of this year, the combined sum for Uber plus traditional taxis was 15.8m. This 7.5% increase in two years makes clear that the market is not zero-sum, and that the benefits enjoyed by Uber and its customers and drivers have not come entirely at yellow cabs’ expense.
However, the figures also suggest that the majority of Uber’s growth has come from substituting for taxis rather than from complementing them. While Uber expanded approximately tenfold over the past two years, from a bit over an estimated 300,000 rides in June 2013 to 3.5m in June 2015, yellow cabs’ hail volume has fallen by 2.1m during the same period. As a first approximation, this implies that just 35% of the growth in Uber rides during this 24-month period has been in addition to the preexisting market demand, leaving 65% that has replaced trips that would otherwise have gone to taxis. (A complete analysis would need to account for the growth trend in the industry before Uber arrived, any expected changes in demand from the overall state of the municipal economy and the impact of Citi Bike and boro taxis, among other factors, and could yield a substantially different ratio.) A further indication that Uber bears significant responsibility for the drop in cab hails is that the decline is most pronounced in the middle of the night, when passengers place the greatest value on Uber’s advantages in convenience and comfort. Taxi rides between 11pm to 5am have fallen by 22% since June 2013, whereas trips at all other times are only off by 12%.
On the surface, a 30% crash in medallion prices over a one-year period might seem like an overreaction by investors to a 14% decline in ridership. But given the industry’s high fixed costs—even when cabs are stuck without passengers, their owners and drivers still have to pay for fuel and the amortised price of buying and maintaining the car—that drop in revenue probably comes almost entirely off the bottom line, representing a much bigger decline in profits. Moreover, medallion prices are forward-looking just like shares of companies are, and presumably reflect expectations that the bite Uber has taken out of taxi earnings is likely to grow. And the industry’s economics could get even tougher if Lyft, Uber’s smaller rival that recently set up shop in New York, decides to set off a price war in the Big Apple, as it previously did in San Francisco. Even if the city government does wind up imposing limits on for-hire cars, medallion prices probably have plenty of additional room to fall.