Business and Economy
LTFRB approves accreditation of ride-hailing firm Hype
“They (Hype) passed the accreditation process and presented their business design that is in accordance with LTFRB policies,” LTFRB Board Member Aileen Lizada said in a text message to reporters. (Photo: Ad Summit Pilipinas Trade Expo/Facebook)
MANILA — The Land Transportation Franchising and Regulatory Board (LTFRB) has approved the accreditation of Hype Transport Systems Inc. as a new transportation network company (TNC).
LTFRB has released Wednesday Accreditation No. 2018-001 which authorizes Hype to operate for two years.
“They (Hype) passed the accreditation process and presented their business design that is in accordance with LTFRB policies,” LTFRB Board Member Aileen Lizada said in a text message to reporters.
Lizada said the ride-hailing company would be able to start their operations once they receive their accreditation.
The approval of the new TNC came following Uber’s shut down of operations in the Philippines after Grab has acquired its ride-hailing services in Southeast Asia.
Other companies that are also seeking accreditation by the LTFRB are Owto, Hirna and Lag Go.
