ComfortDelGro buys local bus charter business for S$10.25m

COMFORTDELGRO Corporation on Tuesday said it will buy the private bus chartering assets of Singapore's AZ Bus Pte Ltd for S$10.25 million.

The acquisition is one of the largest in the local bus charter industry to date. It will include existing charter contracts, 94 buses and associated drivers, the transport company said in a media statement. ComfortDelGro said it is Singapore's largest private bus charter operator.

AZ Bus, established in 1985 as Yeo Keng Sin Transport Service, operates private charter, school bus and tour bus services.

Its customers include American, Japanese and Korean multinational corporations as well as local enterprises from the semiconductor, manufacturing, construction, oil and gas, and leisure and hospitality industries.

ComfortDelGro's managing director and group CEO, Yang Ban Seng, said: "Private charter continues to see strong growth thanks to corporate hire and large ad hoc events. With this acquisition, we will be able to leverage size and scale as we bid for even more contracts."