40 firms bid for taxi licenses

40 companies submitted bids for 10 eight-year licenses to operate 500 new regular taxis, according to the Transport Bureau (DSAT). The minimum bid price for a company license to operate 50 taxis is set at MOP2.5 million. The tender was initially set to reissue some 300 licenses currently due to expire, but DSAT director Kelvin Lam previously said that the number might potentially involve 500 licenses based on the needs of both locals and tourists. The tender, which commenced last month, allows companies to bid for packs of 10 licenses, with each company permitted to apply for up to 50 taxis