Ryde Officially Recognises NPHVA to represent Platform Workers to Strengthen Representation and Long-Term Support for Driver-Partners
Rhea-AI Summary
Ryde (NYSE:RYDE) signed a Memorandum of Understanding with the National Private Hire Vehicles Association (NPHVA) on February 10, 2026, to formally recognise NPHVA as representative of Ryde driver-partners under the Platform Workers Act.
The MOU creates a framework for ongoing dialogue, consultation, and negotiation on earnings, working conditions, dispute resolution, safety, and partner welfare, with the stated aim of strengthening labour-management engagement and exploring longer-term collaborative agreements while ensuring business sustainability and regulatory compliance.
Positive
- Formal recognition of NPHVA to represent Ryde driver-partners
- MOU establishes structured engagement framework for ongoing dialogue
- Explicit scope includes earnings, working conditions, and dispute resolution
Negative
- NPHVA may negotiate on earnings and working conditions
- Potential for binding agreements that affect operating costs
News Market Reaction
On the day this news was published, RYDE gained 5.44%, reflecting a notable positive market reaction. This price movement added approximately $2M to the company's valuation, bringing the market cap to $33M at that time.
Data tracked by StockTitan Argus on the day of publication.
Market Reality Check
Peers on Argus
While RYDE was down 2.75%, two high-affinity peers in momentum screens, IFBD and WCT, also moved down about 10.58% and 5.00%, respectively, pointing to broader weakness in related tech/application names rather than a purely company-specific move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 13 | Brand refresh | Positive | -0.7% | Refreshed visual identity to improve usability and human-centred experience. |
| Dec 16 | Partnership expansion | Positive | -23.2% | Expanded GO-GENIE partnership to boost delivery and gig-worker earnings. |
| Dec 10 | EV rental expansion | Positive | +6.1% | Strategic move into EV rental market targeting up to 400 vehicles. |
| Dec 9 | Upskilling program | Positive | +0.3% | Completion of facilities and security management upskilling for drivers. |
| Dec 3 | Equity offerings | Negative | -1.1% | US$14M combined private placement and registered direct share offerings. |
Recent positive strategic and branding updates often saw flat-to-negative reactions, with stronger price support mainly around growth or asset-expansion news and offerings trading in line with their dilutive nature.
Over the last few months, Ryde issued several strategic and capital-raising updates. A brand refresh on Jan 13, 2026 and a deeper GO-GENIE partnership on Dec 16, 2025 were followed by negative moves. An EV rental expansion on Dec 10, 2025 produced a positive reaction of 6.12%, while an upskilling initiative on Dec 9, 2025 saw only a small gain. December equity offerings totaling US$14 million aligned with a modest decline. Today’s MOU on driver representation fits Ryde’s ongoing focus on driver welfare and regulatory-aligned initiatives.
Regulatory & Risk Context
Ryde has an active Form F-3 shelf filed on 2025-07-09, not yet effective, with at least 2 related 424B5 prospectus supplements filed in 2025. This structure facilitates future registered offerings once effective but exact remaining capacity is not provided.
Market Pulse Summary
The stock moved +5.4% in the session following this news. A strong positive reaction aligns with Ryde’s ongoing narrative of strengthening its driver ecosystem. This MOU formally recognizing NPHVA under the Platform Workers Act reinforces labour relations and regulatory alignment. Historically, strategic growth moves such as the EV rental expansion drew more supportive responses than branding updates. With an active Form F-3 shelf filed on 2025-07-09 and prior registered offerings, investors would still have monitored capital-raising risk alongside sentiment around worker protections.
Key Terms
memorandum of understanding regulatory
mou regulatory
platform workers act regulatory
AI-generated analysis. Not financial advice.
SINGAPORE, SG / ACCESS Newswire / February 10, 2026 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce in Singapore, today signed a Memorandum of Understanding ("MOU") with the National Private Hire Vehicles Association ("NPHVA"), reaffirming a shared commitment to supporting the welfare, well-being, and work prospects of Ryde driver-partners.
This partnership marks an important step in strengthening constructive collaboration and structured engagement within Singapore's platform work ecosystem, as the sector continues to evolve.
As part of this partnership, Ryde will officially recognise NPHVA to represent its platform workers under the Platform Workers Act. This recognition enables NPHVA to represent and negotiate on behalf of Ryde's driver-partners on work-related matters, including earnings, working conditions, and dispute resolution.
A Framework for Collaboration and Engagement
The MOU establishes a common framework for ongoing dialogue and cooperation between Ryde and NPHVA on matters relating to driver-partners, including:
Regular engagement and consultation on partner-related developments
Strengthening channels for feedback and communication
Supporting fair and sustainable practices that enhance partner welfare
Exploring initiatives that improve safety, protection, and well-being
Encouraging feedback from driver-partners on their day-to-day platform experience
As part of the partnership, NPHVA will represent the collective interests and voice of Ryde driver-partners within the scope of this engagement framework.
Building Towards Long-Term Partnership
Ryde and NPHVA will continue working closely to foster a strong labour-management relationship, and to support initiatives that benefit driver-partners while ensuring business sustainability and regulatory compliance.
Both parties also share the intention to build towards longer-term collaborative agreements that remain practical and aligned with Singapore's platform work environment.
Statements from the Parties
Subashini Thanakodi, Associate Director (Operations) of Ryde, said: Our driver-partners are the backbone of Ryde, and their well-being guides how we shape our platform. This MOU with NPHVA reflects our commitment to open dialogue, fair practices, and a sustainable platform where drivers can thrive. By working closely with NPHVA, we aim to listen to driver feedback, strengthen support structures, and ensure our platform continues to evolve in a way that benefits driver-partners, the association, and the wider community alike"
Lee Hsing Han Raven, Executive Secretary of NPHVA, said: "This partnership is an important step in strengthening support structures for private hire and platform drivers. Through ongoing engagement and collaboration, we aim to enhance the welfare and prospects of Ryde driver-partners."
About Ryde Group Ltd
Ryde, a homegrown super mobility app founded in Singapore, is the world's FIRST on-demand carpooling app since 2014! As a publicly listed company on the NYSE American, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take
About the National Private Hire Vehicles Association (NPHVA)
The National Private Hire Vehicles Association is the representative body for private hire and platform drivers in Singapore, advocating for improved welfare, protection, and fair working conditions for platform workers.
Contacts
For Media Relations:
Media Team
Ryde Group Ltd
Email: media@rydesharing.com
For Investor Relations:
Investor Relations Team
Ryde Group Ltd
Email: investor@rydesharing.com
FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Ryde Group
View the original press release on ACCESS Newswire
FAQ
What did Ryde announce about recognising NPHVA on February 10, 2026 (RYDE)?
What matters can NPHVA negotiate for Ryde driver-partners under the MOU (RYDE)?
How will the MOU between Ryde and NPHVA affect driver-partner engagement (RYDE)?
Does the Ryde MOU with NPHVA create long-term obligations for Ryde shareholders (RYDE)?
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