Taxi companies repossess vehicles

Singapore's taxi companies annually repossess about 1000 taxis - about 5 per cent of all taxis on the road - from drivers who fail to pay rent for the vehicles.

Taxi drivers blame falling passenger numbers, intense competition for passengers, and rising diesel prices for their plight, according to the Straits Times. The drivers pay a daily rental to the four taxi operators of about S$90 ($77.45).

There are more than 21,400 cabs, 45 per cent more than in 1994.