Tuesday, August 22, 2017

ComfortDelgro Strategic Alliance With Uber?


ComfortDelGro Corporation Limited (the "Company") wishes to announce that the Company has signed an exclusivity letter with Uber Technologies, Inc. ("Uber") for exclusive discussions in relation to forming a potential strategic alliance between the Company and Uber, which may include collaboration in relation to management of fleet vehicles and booking software solutions in Singapore, including the Company’s taxis also being made available on Uber’s app ("Potential Strategic Alliance”). The Company believes that the Potential Strategic Alliance will strengthen the Company's position as a major mobility service provider in Singapore.

There is no certainty or assurance that such discussions between the Company and Uber will result in any definitive agreement or transaction or lead to a consummation of the Potential Strategic Alliance. The Company will, in compliance with its obligations under the Listing Manual of the SGX-ST, make an appropriate announcement in the event that there is any material development in relation to the Potential Strategic Alliance. In the meantime, shareholders of the Company are advised to exercise caution when dealing in the shares of the Company and to refrain from taking any action in respect of their shares which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company as there is no certainty or assurance as at the date of this announcement that any definitive agreements will be entered into in relation to the Potential Strategic Alliance. Shareholders should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers if they have any doubt about the actions that they should take.

1 comment:


  1. CIMB is looking after its “hold” approach ComfortDelGro with an objective cost of $2.15. let’s have look seconds movements of Singapore Market.
    Late news of ComfortDelGro’s drivers hopping over to contender Grab has prompted a 5.9% diminishing since Sept 15 in the gathering’s offer value which appeared to have estimated in taxi edges in the scope of 6.4-7.3%.
    In a Wednesday report, examiner Cezzane See says, “The market’s traditionalist view, in any case, the stock still needs longer-term impetuses. Our changed gauges and DCF-based TP of $2.15 depending on expected FY17-19F taxi portion EBIT edges of 10.8-8.4% and armada measure tumbling to 14.0k by FY19F (FY17F: 15.5k).“

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