- ComfortDelGro announced that its wholly-owned Australian subsidiary has been awarded three new bus contracts in Melbourne, Australia, increasing the group’s existing bus fleet.
- In line with expectations, the PTC also announced that public transport fares in Singapore would increase by up to 6.0% in end-4Q24 due to inflationary pressures, benefitting public transport operators such as ComfortDelGro.
- - Read this at SGinvestors.io -
Awarded new bus contracts.
- ComfortDelGro announced that through its wholly-owned Australian subsidiary, ComfortDelGro has been awarded three contracts in Melbourne under the Victorian Department of Transport and Planning’s Metropolitan Zero Emission Bus (ZEB) franchises.
- - Read this at SGinvestors.io -
- Funded by the contracts, the buses and depots will then transition to full ZEB operations prior to the end of the contract term. These contracts would commence on 1 Jul 25 and last for 10 years, valued at around A$1.6b (S$1.4b).
- Also, ComfortDelGro will transfer ownerships of its existing bus depots to the government, booking a one-off gain of around S$14m.
Neutral impact to earnings
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-09-12
Read also UOB's most recent report:
2024-11-15 ComfortDelGro - Strong Growth In 3Q24 As The UK Outperforms.
Previous report by UOB:
2024-10-29 ComfortDelGro 3Q24 Results Preview - Expect Stable Growth Despite Minor Headwinds.
Price targets by 4 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
