NextGen Day

The continued reopening of the Philippine economy has given officials of a Singapore-based ride-sharing business hope for a four- to five-fold increase in ridership when it begins operations in the Philippines in 2020.

Behind starting operations in May 2020, Swat Mobility Philippines’ ridership has reached about 1 million, accounting for 25% of the technology-based ride-sharing company’s global ridership and placing it in the top three after Singapore and Japan.

“In terms of goal, we’re looking at four to five times this year” (growth). In a virtual briefing on Thursday, Swat Mobility Philippines country business head Maria Theresa Busmente said, “Pretty much this is tough (but) I believe this is something that we can achieve because we have already set up a lot of clients.”

According to Busmente, the company has “secured long-term contracts now being set up, as opposed to our early experience where most of our operations were merely on a trial basis.”

“However, these are now all long-term,” she explained.

Busmente stated that they are continuing to investigate huge corporations and businesses that provide shuttle services to their employees.

“A lot of inquiries come from insurance firms and pharmaceutical corporations” (pharmaceutical companies). Several hospitals are also attempting to pique our attention,” she noted.

Swat Mobility president Grace Ho stated during the same conference that the Philippines has a lot of prospects because of its huge manufacturing, services, and business process outsourcing (BPO) sectors, among others.

With the backing of the Toyota Mobility Foundation, Ho added that important professionals, such as those in the medical field, are among their first clientele.

“The opportunity arose during the crisis, but there was also fantastic product-market fit because we’re a technology-enabled mobility solution,” she explained.

When asked how much money has been invested in the Philippines so far, Ho stated they want to treble it this year to “more than a quarter-million (Singapore dollars).”

“While we are headquartered in Singapore, we are on a very aggressive expansion strategy, so we hope that (the) the Philippines will remain in the top three, if not top two, of my business as the year progresses,” she added.

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