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3 things ComfortDelGro can rely on for growth in 2017
A successful bid to operate the Thomson-East Coast line is one.
Though some analysts foresee an uneventful 2017 for transport player ComfortDelGro, there are three things that can turn this around and spur growth for the group.
According to a report by Maybank Kim Eng, one thing that can kick off the turnaround is the successful bid to operate the Thomson-East Coast Line. The firm notes that this may be earnings accretive in the medium term, with valuations expanding to reflect a stronger outlook.
"We are confident that the successful bidder will achieve healthy profitability as competition is less intense, only the two incumbents are invited to this tender, and the government is assuming majority of the financial risks (asset-light, fareindependent)," Maybank explained.
More so, the firm noted that a better-than-expected taxi earnings will prove its ability to fend off competitive threats from new entrants.
Maybank also sees its Singapore bus service leading an upward revision to its earnings.
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