Leading transport operator SBS Transit, which runs not just buses but also trains, has been named the overall sector of this Centurion industry category. In addition, SBS Transit won for the fastest earnings growth and for the best weighted ROE as well.

Meanwhile, Penguin International, which operates ferry services and builds vessels, took the best returns to shareholders win. SBS Transit was formed in 1973 through the merger of three private bus companies and the combined entity listed in 1978 as the Singapore Bus Service. The company was renamed DelGro Corporation in 1997 and a subsidiary, Singapore Bus Services Limited, listed separately on the Singapore Exchange. The company’s name was changed to SBS Transit in November 2001, to reflect the expansion of its business from not just buses but also trains.


See also: DBS starts SBS Transit at 'hold' on 'fair' valuation at current prices


Today, SBS Transit is a subsidiary of land transport giant ComfortDelGro. SBS Transit now runs a fleet of 3,000 buses plying more than 200 routes. It also operates the North-East MRT Line, the Downtown Line and the Light Rail System serving Punggol and Sengkang new towns.

The company’s ridership was affected by the pandemic that forced work-from-home arrangements on most companies. Even so, in FY2020 ended last December, it posted with earnings of $79 million, down just 2.8% from $81.3 million in the preceding year, thanks to wage subsidies from the government and other related support.

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SBS Transit - THE EDGE SINGAPORE

Meanwhile, Penguin International, which operates ferry services and builds vessels, took the best returns to shareholders win. SBS Transit was formed in 1973 through the merger of three private bus companies and the combined entity listed in 1978 as the Singapore Bus Service. The company was renamed DelGro Corporation in 1997 and a subsidiary, Singapore Bus Services Limited, listed separately on the Singapore Exchange. The company’s name was changed to SBS Transit in November 2001, to reflect the expansion of its business from not just buses but also trains.

Today, SBS Transit is a subsidiary of land transport giant ComfortDelGro. SBS Transit now runs a fleet of 3,000 buses plying more than 200 routes. It also operates the North-East MRT Line, the Downtown Line and the Light Rail System serving Punggol and Sengkang new towns.

The company’s ridership was affected by the pandemic that forced work-from-home arrangements on most companies. Even so, in FY2020 ended last December, it posted with earnings of $79 million, down just 2.8% from $81.3 million in the preceding year, thanks to wage subsidies from the government and other related support.

Through a group of wholly-owned, integrated subsidiaries, mainboard-listed local company Penguin International — which builds and operates aluminium high-speed crafts — operates a fleet of crew boats and passenger ferries, as well as shipyards in Singapore and Batam, Indonesia.

Before the pandemic, Penguin International was gaining popularity among the investment community, thanks to its growing business of building vessels used as fast transports.

The company enjoyed several consecutive years of improvements in its numbers. However, its earnings took a dip when the pandemic struck and for FY2020 ended Dec 31, 2020, Penguin International’s revenue was down 12.4% to $119.4 million, and earnings dropped by 32% y-o-y to $13.2 million, which itself was partly due to government support and other one-off items. If those were excluded, Penguin International’s earnings would have dropped to $6.5 million.

While casting a wary eye over the market conditions, Penguin International was still able to make steady sales of its vessels.

sbs table - THE EDGE SINGAPORE

Photo: Albert Chua/The Edge Singapore