Sixteen years ago, cooking gas supplier Teo Kiang Ang got out of his comfort zone and plunged headlong into the taxi business - the first to do so when the Government liberalised the industry, which was then dominated by ComfortDelGro.

Within a few years, Mr Teo's Trans-Cab became the second-largest taxi operator, with its red-and-white cabs surpassing fleets by incumbents CityCab and SMRT in size.