ComfortDelGro unit inks deal with Guangzhou Transportation

It will now be Guangzhou Transportation ComfortDelGro Taxi.

According to an SGX release, ComfortDelGro Corporation Limited is pleased to announce that its wholly-owned subsidiary, Chengdu ComfortDelGro Taxi Co., Ltd, has entered into a joint venture with Guangzhou Transportation Group Co., Ltd to form Guangzhou Transportation ComfortDelGro Taxi Co., Ltd (“JVCo”).

The principal activity of the JVCo will be the provision of public taxi services. The JVCo is 50% owned by CCDGT and 50% owned by GTG.

The JVCo will have an initial registered capital of RMB10 million (approximately SGD1.956 million) and CCDGT will fund its share from its own funds.

GTG is a large state-owned enterprise and is ComfortDelGro’s current joint venture partner in Guangzhou Xin Tian Wei Transportation Development Co., Ltd.

The above transaction is not expected to have any material impact on the net tangible assets per share and the earnings per share of the ComfortDelGro Group for the financial year ending 31 December 2012.

Also Read

SingPost brings service closer to commuters

Industrial landlords offer flexibility amidst softer demand

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit