ComfortDelGro - RHB Invest 2023-07-07: New Contract Win In Australia; Still BUY

• ComfortDelGro’s indirect subsidiary CDC NSW has won an >AUD200m 8- year outer metropolitan bus contract in Australia – it will commence in Jul 2024.
• While earnings contributions from the contract will be insignificant, we view it as a positive sign of ComfortDelGro’s continuous growth in Australia. Australia represents ComfortDelGro’s largest investment outside of Singapore and accounted for ~19% of FY22 operating profit.
• - Read this at SGinvestors.io -

New Australian contract.

• ComfortDelGro (SGX:C52)’s indirect subsidiary, CDC NSW, has won an outer metropolitan bus contract worth over AUD200m, in New South Wales (NSW). The contract was awarded to Red Bus CDC NSW, a 50:50 JV between CDC NSW and Red Bus Services, an established NSW bus operator with over 80 years of experience.
• - Read this at SGinvestors.io -

Limited earnings impact, but ComfortDelGro is building strong capabilities outside Singapore.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-11-17 ComfortDelGro - UK Unit Registers Strong Growth; Stay BUY.

Previous report by RHB:
2025-10-16 ComfortDelGro - Higher Public Transport Fares In Singapore; Still BUY.

Price targets by 3 other brokers at ComfortDelGro Target Prices.

Listing of research reports at ComfortDelGro Analyst Reports.

Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividend Payout Dates & Corporate Actions,
ComfortDelGro News