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Corporation
comfortdelgro.com.sg

Investments

2

Portfolio Exits

1

Funds

1

Partners & Customers

10

About ComfortDelGro

ComfortDelGro (SGX: C52) is a land transport company whose businesses include bus, taxi, rail, car rental and leasing, automotive engineering services, inspection and testing services, driving center, insurance broking services, and outdoor advertising. ComfortDelGro was founded in 2003 and is based in Singapore.

Headquarters Location

205 Braddell Road

579701,

Singapore

(65) 6383 8833

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Latest ComfortDelGro News

ComfortDelGro to buy up to 1,000 new hybrid taxis to replace diesel cabs

Mar 28, 2023

ComfortDelGro’s planned purchase of new hybrid taxis comes as its push towards fully electric vehicles has slowed. ST PHOTO: KUA CHEE SIONG https://str.sg/iZ2t SINGAPORE - ComfortDelGro is looking to put up to 1,000 new petrol-electric hybrid taxis on the roads here as the taxi giant continues to move away from diesel-powered vehicles towards more environmentally sustainable alternatives. The listed transport group, which owns the Comfort and CityCab taxi brands, called a tender on March 23 for the supply of 500 new hybrid taxis that are expected to be delivered and ready for use from Nov 1. The tender, which closes on May 12, also comes with an option for another 500 hybrid taxis, with delivery no later than October 2025. If exercised, this option would take the total order to 1,000 hybrid taxis, equivalent to about 11 per cent of ComfortDelGro’s current fleet of 8,700 cabs. According to documents seen by The Straits Times, both authorised car dealers and parallel importers are eligible to bid for the tender, and the contract may be awarded to one or multiple suppliers. In response to queries, Ms Tammy Tan, group chief corporate affairs officer at ComfortDelGro, said the company’s latest order of hybrid cabs is to replace diesel-powered Hyundai i40 taxis that are reaching the end of their lives in 2024. The statutory lifespan for diesel and hybrid taxis is eight years. For electric taxis, it is 10 years. The Hyundai i40 first entered ComfortDelGro’s ranks in 2013, and it is the oldest taxi model that the company currently offers for hire. It is followed by the Toyota Prius petrol-electric hybrid - the company’s first non-diesel taxi - and the Hyundai Ioniq hybrid, which the company started rolling out in 2017. In recent years, ComfortDelGro has been buying hybrid taxis in bulk to reduce its carbon footprint. The company did not share figures when asked by ST, but Land Transport Authority records show that hybrid taxis currently make up the large majority of cabs across the industry here. As at end-February, there were 9,635 petrol-electric hybrid taxis, accounting for about 69 per cent of Singapore’s taxi fleet. This is up from 5,646 hybrid cabs in February 2019. At the same time, the number of diesel taxis has fallen sharply over the same period, in line with an overall drop in the total number of cabs from about 20,000 in 2019 to less than 14,000 now. There were 3,912 diesel cabs as at end-February, compared with 14,454 four years ago. More On This Topic

ComfortDelGro Investments

2 Investments

ComfortDelGro has made 2 investments. Their latest investment was in Shift4Good as part of their Seed on January 1, 2023.

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ComfortDelGro Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/27/2023

Seed

Shift4Good

$4.3M

Yes

1

1/10/2023

Series A - II

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$99M

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10

Date

1/27/2023

1/10/2023

Round

Seed

Series A - II

Company

Shift4Good

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Amount

$4.3M

$99M

New?

Yes

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Co-Investors

Sources

1

10

ComfortDelGro Portfolio Exits

1 Portfolio Exit

ComfortDelGro has 1 portfolio exit. Their latest portfolio exit was Lion City Rentals on January 07, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/7/2019

Acquired

$99M

1

Date

1/7/2019

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

ComfortDelGro Acquisitions

14 Acquisitions

ComfortDelGro acquired 14 companies. Their latest acquisition was Ming Chuan Transportation on January 10, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/10/2022

$99M

Corporate Majority

2

4/23/2019

$99M

Acquired

1

11/5/2018

$99M

Acquired

1

8/7/2018

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$99M

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10

7/25/2018

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$99M

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10

Date

1/10/2022

4/23/2019

11/5/2018

8/7/2018

7/25/2018

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Corporate Majority

Acquired

Acquired

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Sources

2

1

1

10

10

ComfortDelGro Fund History

1 Fund History

ComfortDelGro has 1 fund, including ComfortDelGro Venture Capital Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/1/2018

ComfortDelGro Venture Capital Fund

$100M

1

Closing Date

1/1/2018

Fund

ComfortDelGro Venture Capital Fund

Fund Type

Status

Amount

$100M

Sources

1

ComfortDelGro Partners & Customers

10 Partners and customers

ComfortDelGro has 10 strategic partners and customers. ComfortDelGro recently partnered with Gojek on November 11, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

11/28/2022

Client

Indonesia

Gojek teams up with top Singapore taxi firm to ease driver crunch

The two-year partnership aims to give Gojek users in the city-state greater access to ComfortDelGro 's 10,000-strong taxi fleet through its ride-hailing app , the two companies announced on Monday .

2

10/4/2022

Partner

United Kingdom

Stagecoach commended in multiple awards and Scottish Citylink wins 'Best Bus Service' at annual Scottish Transport Awards, representing all public transport modes in the country - Stagecoach Group

Stagecoach Group 's Joint Venture with Comfort DelGro , Scottish Citylink wins ` Best Bus Service ' for its `` 6 Cities '' network of services .

1

7/29/2022

Partner

United Kingdom

Stagecoach confirms future for its inter-city coach retail operations - Stagecoach Group

On behalf of ComfortDelGro , Sean O'Shea , Chief Executive Officer for Metroline , said : `` ComfortDelGro 's 20-year long relationship with Stagecoach Group in Scotland is set to expand and I look forward to working together to deliver great services for inter-city customers in England and Wales . ''

1

6/9/2022

Partner

Singapore

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10

6/8/2022

Partner

Singapore

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10

Date

11/28/2022

10/4/2022

7/29/2022

6/9/2022

6/8/2022

Type

Client

Partner

Partner

Partner

Partner

Business Partner

Country

Indonesia

United Kingdom

United Kingdom

Singapore

Singapore

News Snippet

Gojek teams up with top Singapore taxi firm to ease driver crunch

The two-year partnership aims to give Gojek users in the city-state greater access to ComfortDelGro 's 10,000-strong taxi fleet through its ride-hailing app , the two companies announced on Monday .

Stagecoach commended in multiple awards and Scottish Citylink wins 'Best Bus Service' at annual Scottish Transport Awards, representing all public transport modes in the country - Stagecoach Group

Stagecoach Group 's Joint Venture with Comfort DelGro , Scottish Citylink wins ` Best Bus Service ' for its `` 6 Cities '' network of services .

Stagecoach confirms future for its inter-city coach retail operations - Stagecoach Group

On behalf of ComfortDelGro , Sean O'Shea , Chief Executive Officer for Metroline , said : `` ComfortDelGro 's 20-year long relationship with Stagecoach Group in Scotland is set to expand and I look forward to working together to deliver great services for inter-city customers in England and Wales . ''

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Sources

2

1

1

10

10

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