UrbanLinkz acquires additional 31% stake in Harmony Bus Services
In a show of strong commitment by UrbanLinkz Corporation Ltd, the group has purchased an additional 31% stake in Harmony Bus Services for an undisclosed sum, in addition to the 20% stake it already owns in the company. The acquisition effectively makes Harmony Bus Services a subsidiary of UrbanLinkz Corporation Ltd.
Together with the acquisition will be the removal of the 10% stake in Harmony Bus Services currently held by G'zen Ltd of XYGinc.
There will be no immediate changes to the bus services and other areas of operation of Harmony Bus Services, although some consolidation in the form of withdrawal and integration of duplicative bus services is expected in future. However, commuters can rest assured that they will not be adversely affected.
The acquisition is a strategic move by UrbanLinkz Corporation, whose bus service arm UrbanLinkz Buses already has a strong presence in the northwest, especially with the opening of its new Yew Tee Bus Terminal at Choa Chu Kang Drive End in January this year. It will considerably increase UrbanLinkz's market share of bus service operations in the northwest, where Harmony currently operates mainly in.
Together with the acquisition will be the removal of the 10% stake in Harmony Bus Services currently held by G'zen Ltd of XYGinc.
There will be no immediate changes to the bus services and other areas of operation of Harmony Bus Services, although some consolidation in the form of withdrawal and integration of duplicative bus services is expected in future. However, commuters can rest assured that they will not be adversely affected.
The acquisition is a strategic move by UrbanLinkz Corporation, whose bus service arm UrbanLinkz Buses already has a strong presence in the northwest, especially with the opening of its new Yew Tee Bus Terminal at Choa Chu Kang Drive End in January this year. It will considerably increase UrbanLinkz's market share of bus service operations in the northwest, where Harmony currently operates mainly in.
About UrbanLinkz Corporation
UrbanLinkz Corporation Ltd (UrbanLinkz) is a holding company with transportation as its core business. It offers premier multi-modal public transport services in Singapore through its subsidiaries, mainly in the northern and western regions of the country.
In addition to the provision of bus, taxi and ferry services, UrbanLinkz is engaged in commercial retail and advertising services and is an active member of the TransPacific Alliance.
In addition to the provision of bus, taxi and ferry services, UrbanLinkz is engaged in commercial retail and advertising services and is an active member of the TransPacific Alliance.
About Harmony Bus Services
Harmony Bus Services has successfully established itself as the friendly public bus service operator whose operations are concentrated in the northwestern towns of Bukit Panjang, Choa Chu Kang, Bukit Batok and Woodlands.
Its bright blue buses are easily recognisable and over the years, the company has been introducing more bus services to enhance travel links to, out of, and within these towns.
Its bright blue buses are easily recognisable and over the years, the company has been introducing more bus services to enhance travel links to, out of, and within these towns.
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