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ComfortDelGro kept at 'accumulate' as ride-hailing congestion clears

Stanislaus Jude Chan
Stanislaus Jude Chan7/10/2018 05:27 PM GMT+08  • 2 min read
ComfortDelGro kept at 'accumulate' as ride-hailing congestion clears
SINGAPORE (July 10): Phillip Securities Research is keeping its positive outlook on the land transport sector as the storm appears to have blown over for the taxi industry.
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SINGAPORE (July 10): Phillip Securities Research is keeping its positive outlook on the land transport sector as the storm appears to have blown over for the taxi industry.

“We believe the worst is over for the taxi industry, in view of the positive impact following the exit of Uber and resultant restructuring of the ride-hailing industry,” says analyst Richard Leow in a report on Monday.

While the taxi population continues to contract, Leow points out that the rate of decline shows sign of bottoming.

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