From left to right: Representatives of Pan Pacific Van & Truck Leasing Group, Kenny Tan (Group CEO) and Jeremy Ng (Group Director) with liquidators of Strides DST Pte Ltd, Theresa Ng and Tim Reid of Baker Tilly.

Singapore, 30 May 2024 – The liquidators of Strides DST Pte Ltd, Tim Reid and Theresa Ng of Baker Tilly, have agreed to sell the business of Strides DST to Kenny Tan, Group CEO, and Jeremy Ng, Group Director of Pan Pacific Van and Truck Leasing Pte Ltd. Completion, to occur on Monday 3 June, will result in Pan Pacific Van and Truck Leasing Pte Ltd purchasing the entire fleet of 529 light commercial electric vehicles and taking over the existing business of leasing the vehicles to Singapore based customers.

With the addition of 529 vehicles, Pan Pac's fleet will now expand to over 3,000 vehicles, solidifying its position as one of Singapore's largest commercial light goods vehicle leasing companies. This initiative is a cornerstone of Pan Pac’s comprehensive green strategy, to reduce the industry’s collective carbon footprint, transforming Singapore’s vehicle leasing landscape. The company's vision includes expanding its selection of EVs and setting benchmarks for sustainable practices in the industry.

“We are thrilled to accelerate eco-friendly transportation, aligning with Singapore’s Green Plan 2030” said Kenny Tan, Group CEO of Pan Pac. “This move represents a significant leap forward in our commitment to carbon neutrality. We are not just adapting to sustainability; we are driving it. By expanding our fleet of environmentally responsible solutions, we offer our customers efficient cutting-edge leasing solutions that are the future of transportation.”

The newly acquired EVs are poised to offer an unparalleled combination of performance, efficiency, and sustainability. With reduced costs associated with fuel and maintenance, the electric fleet is a more economical and environmentally friendly solution, ensuring significant long-term savings for its valued customers.

Kenny Tan emphasized, "Our dedication to sustainability transcends mere words; it's ingrained in our actions. Embracing EVs, we actively diminish our carbon footprint, setting a positive precedent within our industry. We eagerly anticipate the ripple effects on our community and the environment. Concurrently, we aspire to inspire other companies to embrace sustainable practices, fostering a greener landscape. We firmly believe that the future of leasing is green, and we are resolute in spearheading this paradigm shift. Moreover, by leading the charge with Pan Pac’s future sustainability program, we provide cost-saving opportunities for businesses in Singapore.”

Pan Pac partner Strides Digital to provide seamless support to existing users of the newly acquired fleet, and further explore partnership with Strides Digital to seamlessly integrate their suite of Electric Mobility digital services for its fleet. This empowers Pan Pac clients to continue and enhance their de-carbonization journey.

As Pan Pac embarks on this transformative path, it invites customers, partners, and stakeholders to join in its mission to create a cleaner, greener future. This landmark purchase of EVs is just the beginning of a series of innovative steps aimed at revolutionizing sustainable vehicle leasing in Singapore.