ComfortDelGro targets larger overseas footprint amid limited Singapore growth

COMFORTDELGRO Corporation plans to raise the contribution from its overseas operations to 50 per cent of total revenue in the near term, from 40 per cent currently, amid limited growth opportunities in the Singapore market.

The transport heavyweight’s group chief executive officer Cheng Siak Kian told The Business Times in a recent interview that Singapore still offers some room for its rail operations to grow.

Opportunities include the upcoming Jurong Region Line and Cross Island Line, which will be largely limited to existing rail operators in Singapore, although foreign players will be allowed to participate as minority partners of joint ventures.