THE livelihood of taxi drivers in the world has been severely affected since Uber started to match demand from passengers with drivers supplying ride services using private vehicles.
In 2010, London black cab drivers earned between RM42,000 and RM56,000 a month, more than many in licensed professions such as accountants, doctors, engineers and lawyers.
In 2013, some New York taxi medallions (permits) were sold for US$1.3 million, but not long ago, one was transacted for only US$241,000.
In Sydney, a taxi licence was worth A$406,000 in October 2012, but dropped to A$200,000 in February this year.
Cabbies in Malaysia are spared from such huge losses as they do not have to pay for taxi permits based on market rates.
Since inception, all metered taxi permits issued by the Land Public Transport Commission (SPAD) were granted only to individuals, starting with the first 1,000 under Teksi 1Malaysia.
Last August, SPAD unveiled the Taxi Industry Transformation