ComfortDelGro targets overseas expansion in 5 years

60% of targeted profits to come from non-Singapore market.

According to Nomura, ComfortDelGro Corp's management reiterated their focus on M&A to grow the business, particularly outside of Singapore. The group currently has a target to achieve 50–60% of its operating profits from overseas in 3–5 years.

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Management remains positive on the potential of M&A but reiterated that their approach is opportunistic with a focus on value creation, as opposed to a blind focus on acquisition for growth’s sake. They seek to achieve IRR of 12–15%, non-dilutive margins and management control.

Their preference lies in the taxi and bus segments and in markets such as China, UK and Australia where they see a strong commitment by governments to invest in infrastructure.