SINGAPORE (June 8): Analysts say the restructuring of the ride-hailing industry after Uber’s exit from Singapore, as well as regulatory action coming into effect, will significantly level the playing field and have a positive impact on the taxi industry.

“User discounts and driver incentives for ride-hailing apps have been reduced since Uber exited the market,” says Phillip Securities Research analyst Richard Leow in a report on Friday. “As such, fare pricing has become more rational and there has been some flow of drivers back to taxis.”

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