ISLAND TRANSIT TO MERGE INTO URBANLINKZ

In a move to streamline operations, Island Transit Bus Services Ltd, a subsidiary of CityFizz Corporation which operates basic bus services in Singapore, will merge its operations with UrbanLinkz Bus Services Ltd, which is also currently a member of CityFizz Corporation.

This move comes amid increasing competition from other public bus service companies mushrooming in Singapore in recent years.

With the merger, the current Island Transit bus services will now be operated by UrbanLinkz. Buses belonging to Island Transit will also be transferred and repainted into the new UrbanLinkz livery - red and orange. For now, there will be no changes to the routes and hours of operation for all services. However, fares will be realigned to match the fare structure used by UrbanLinkz trunk services currently.

"This move will help the new UrbanLinkz save overhead costs and optimise our resources more efficiently and effectively. This will save us thousands of dollars each year. Ultimately, passengers will benefit as they will not have to pay high fares as maintainance and operation costs of the buses will be reduced eventually," said Mr Muhd Hafiz, CEO of UrbanLinkz.


WHAT'S HAPPENING?
CityFizz Corporation, which manages four transport companies; CityFizz Buses, UrbanLinkz Ltd, Indiviz Pte Ltd and Island Transit Bus Services, is consolidating its services so as to save costs and bring about better service to our valued commuters. Under the move, Indiviz will merge with CityFizz Buses while Island Transit will merge with UrbanLinkz.

UrbanLinkz Ltd will now be independent of CityFizz Corporation and operate as a standalone company which continues to operate public bus services with plans of a new taxi subsidiary soon. All will remain as members of the TransPacific Alliance.

IN SUMMARY...

CityFizz Corporation will...
- be 67% owned by CEO Bing He (other 33% owned by UrbanLinkz CEO Muhd Hafiz [25%] & TransitFirst Corporation [8%])

UrbanLinkz Ltd will...
- be 60% owned by CEO Muhd Hafiz (other 40% owned by XY Buses [10%], SGT Group Holdings [5%] & CityFizz Corporation CEO Bing He [25%])