- ComfortDelGro’s taxi commission rate has been raised from 5% to 7% from 1 Jan 24, largely in line with our expectations. However, ComfortDelGro has also perpetuated its 10% taxi rental rebates from 2024 onwards which was a slight negative surprise.
- - Read this at SGinvestors.io -
- With ComfortDelGro’s decent 4.2% dividend yield, we maintain BUY with a slightly lower target price of S$1.66 (S$1.69 previously).
Change to taxi commission rates and permanent rental rebates.
- - Read this at SGinvestors.io -
- To help taxi drivers cope with higher costs, ComfortDelGro also announced that the 10% taxi rental rebate has been made permanent from the same date, while commission charges from Jan-Mar 24 for trips priced S$9 and below would be temporarily waived.
No major surprise.
- Read more at SGinvestors.io.