This marks the largest local bus charter in the industry.
ComfortDelGro Corporation will buy the private bus chartering assets of AZ Bus for $10.25m through ComfortDelGro Bus, marking the largest in the local bus charter industry to-date, it said in an announcement.
When completed, it will increase ComfortDelGro Bus’ fleet to 300 buses. Including subcontractors’ buses, the total fleet will be about 460 buses.
ComfortDelGro noted that AZ Bus, established in 1985 as Yeo Keng Sin Transport Service, operates private charter, school bus and tour bus services. “Its customers include American, Japanese and Korean multinational corporations as well as local enterprises from the semiconductor, manufacturing, construction, oil and gas, and leisure & hospitality industries,” it added.
ComfortDelGro Bus provides ad hoc charter services, bus operations, and just recently, it bagged a 10-year contract to provide bus transport services in Bukom.
ComfortDelGro managing director and group CEO Yang Ban Seng said, “Private charter continues to see strong growth thanks to corporate hire and large ad hoc events. With this acquisition, we will be able to leverage on size and scale as we bid for even more contracts.”
ComfortDelGro is on a tear as this acquisition followed a recent one in Australia. The company bought National Patient Transport Pty Ltd (NPT) for $30.2m. NPT is one of the largest private providers of non-emergency patient transport services in Australia.
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