private-hire cars

LTA may allow taxis, private-hire cars to do deliveries on trial basis

SINGAPORE (Sept 10): Taxi operators and private-hire car firms who are interested in allowing their drivers to perform courier services on a limited trial basis can approach the Land Transport Authority (LTA), Senior Minister of State for Transport Janil Puthucheary told Parliament on Monday.

ComfortDelGro to rise above the land transport sector’s negative noise

SINGAPORE (April 19): Deutsche Bank is keeping its “buy” recommendation on land transport group ComfortDelGro (CDG) at a target price of $2.90, although it notes near-term pressures abound in Singapore’s taxi industry as well as projects 5-7% lower earnings over FY17-18E.

In a Wednesday report, analyst Joshua Lee projects an estimated 20% staggered public transport fare hike over 2019-2020 due to the upcoming fare formula revision, which he believes would nevertheless allow fares to remain “affordable” and significantly lower as compared to global developed peers.

Why analysts think ComfortDelGro investors can rest easy

SINGAPORE (Jan 6): UBS and RHB are reiterating their “buy” calls on ComfortDelGro with target prices of $3.43 and $3.24 respectively in anticipation of higher earnings growth over the next few years.

In a report on Tuesday, UBS analysts Rachel Tan and Cheryl Lee opine that the transport company’s recently-announced acquisition of CabCharge Australia’s remaining 49% stake in ComfortDelGro CabCharge Pty Ltd (CDC), should be funded without significant balance sheet strain.

Why consumer staples will remain at the forefront of attention in 2017

SINGAPORE (Jan 4): In the opinion of RHB analyst Juliana Cai, consumer discretionary spending in Singapore is likely to continue being weighed down by persistent concerns over job security and stagnant wages – bringing consumer staples to the forefront of attention this year.

Singapore’s land transport sector is revving up for a smooth ride

SINGAPORE (Jan 3): RHB has given Singapore’s land transport sector an “overweight” rating amid regulatory tailwinds and improved growth prospects.

As the only publicly listed stock offering exposure to the sector, ComfortDelGro has been highlighted as one of RHB’s top “buy” recommendations with a target price of $3.24.

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