Comfort needs to reinvent itself before it becomes a museum piece
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
MINIATURES of ComfortDelgro Corp taxis are popular children's toys in Singapore. Not for long, though. The ubiquitous blue and yellow Toyota Crown cabs are leaving the realm of kids' imagination and heading for grownup nostalgia. One day soon, they will belong in a museum.
The end is nigh for the conventional taxi business, though that was not what Comfort said in a press release announcing the purchase of 51 per cent of Uber Technologies Inc's Singapore car rental unit for S$295 million in cash.
The deal gives Comfort, the city state's largest taxi operator, access to a fleet of 12,450 private-hire vehicles at a 10 per cent discount to their net asset value, according to Nomura Holdings Inc research. ComfortDelgro shares were up as much as 4.7 per cent on Monday morning.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
