SINGAPORE, The announcement comes hot on the heels of Grab's takeover of Uber's Southeast Asian business, which includes operations in Singapore, Channel NewsAsia reported.

Ryde said it has already started accepting sign-ups of drivers via the Ryde app, and aim to have 5,000 full-time drivers. It currently has a combined fleet of more than 55,000 drivers - both private cars and taxis - that serve 300,000 passengers a day.

Offering private-hire car services would complete our mobility suite to serve our users better," said founder and CEO of Ryde Technologies Terence Zou.

We've always been planning to enter into the private hire space to complete our mobility suite, but right now I think is also an opportune time, I think the market needs more competition and that's where we can provide consumers and drivers with an alternative platform and way to get around, he said.

Source: NAM News Network