The private-hire vehicle market was hit hard during the coronavirus pandemic as people stayed indoors, but local vehicle leasing firm Lumens Auto continued to grow its business, not only retaining its staff but also hiring more.
The firm, established in 2014, now has 70 staff. The car rental company provides long-term rentals to private-hire vehicle drivers.
Mr Chiam Soon Chian, its chief operating officer, said: “Cash flow was a huge concern when drivers were simply not renting despite the heavy rental rebates offered.
“The Jobs Support Scheme has made it possible for us to keep all our staff for the whole of 2020 and, at the same time, continue to hire new staff for new business initiatives that we had started during the year.
“Despite the challenging times, additional job positions were created because of these new business initiatives and the scheme,” he said, adding that staff strength grew 25 per cent.
During the pandemic, the firm reduced rental costs for the drivers by providing rebates during the circuit breaker period.
It also helped drivers to look for more income opportunities by working with logistics companies, e-commence platforms and food and beverage outlets to provide delivery services during that period.
Mr Chiam said: “We believe that Singapore still holds a lot of potential for us as a fleet operator. As a city-state with high disposable income, private transportation such as ride-hailing services will always be in demand.”