ComfortDelGro’s SG, China taxi businesses to see improved earnings

They will benefit from economic reopening and reduction in rental rebates.

Public transport services, especially trains, will experience a strong increase in ridership driven by higher tourist arrivals in the second half of 2023, RHB said.

ComfortDelGro will not be immune to this, especially for its taxi businesses due to reduction in rental rebates in Singapore and China’s economic revival after finally ending the two-year zero COVID-19 strategy.

READ: ComfortDelGro driving centre rolls out first electric motorcycle course

There will also be a strong FCF generation that will allow ComfortDelGro to pay higher dividends.

Bukit Merah and Jurong West Bus Packages in Singapore will be retained but ComfortDelGro could see lower margins for the contract extensions.

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