RHB Group Research is maintaining its ‘buy’ rating on ComfortDelGro (CDG) as Singapore gradually reopens.

RHB analyst Shekhar Jaiswal believes the reopening of Singapore’s economy over the coming quarters will support higher demand for taxi services as well as public transport. Since June 14, the Land Transport Authority (LTA) has lifted the two-passenger limit for taxis.

“We maintain that CD’s sequential improvement in profit will be sustained over the next 12 months, aided by the aggressive vaccination plan and robust Covid-19 testing, as well as contact-tracing capabilities in Singapore,” he says in a June 21 report.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook