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ComfortDelGro’s EV charging points business should generate high margins, but will take a few years: RHB

Atiqah Mokhtar
Atiqah Mokhtar9/6/2021 5:30 PM GMT+08  • 2 min read
ComfortDelGro’s EV charging points business should generate high margins, but will take a few years: RHB
RHB views the business will take time to turn profitable as Singapore’s EV adoption is still in its early stages.
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RHB Group Research analyst Shekhar Jaiswal has kept his “buy” call and target price of $2.03 for ComfortDelGro (CDG) Corporation unchanged after the company announced it had jointly won a pilot tender to set up 470 electric vehicle (EV) charging points in Singapore.


See: ComfortDelGro-ENGIE consortium wins tender for EV charging points in Central, East and West regions

CDG has a 51% stake in a consortium with ENGIE South East Asia for the project. The charging points will be installed in Singapore public car parks over the next 12 months and must be operational by 3Q2022.

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