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ComfortDelGro kept at 'accumulate' as worst looks over for taxi trade

PC Lee
PC Lee6/18/2018 03:55 PM GMT+08  • 2 min read
ComfortDelGro kept at 'accumulate' as worst looks over for taxi trade
SINGAPORE (June 18): Phillip Securities is maintaining its “overweight” on the land transport sector given the positive industry restructuring and the worst being over for the taxi industry.
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SINGAPORE (June 18): Phillip Securities is maintaining its “overweight” on the land transport sector given the positive industry restructuring and the worst being over for the taxi industry.

This comes after Taxi Driver Vocational Licence (TDVL) data for April published by the Land Transport Authority showed a spike.

TDVL issued in April was almost four times more than a year ago, while the cumulative number of TDVL issued for 4M18 grew 114.4% y-o-y. The 410 TDVL issued in April exceeds the most recent high of 399 issued in April 2016.

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