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.
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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.
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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 an excerpt from a report by UOB Kay Hian Research. Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
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