COMFORTDELGRO CORPORATION LIMITED 
By
2 August 2012 - ComfortDelGro Corporation, through its
51%-owned subsidiary, ComfortDelGro Cabcharge, is acquiring
one of the largest private regional bus companies that has
services operating into Canberra.
The proposed A$53 million acquisition of Deane's Bus Lines
Pty Ltd and Transborder Express - both of which are part of
Deane's Transit Group (DTG) - will further increase
ComfortDelGro Cabcharge's (CDC) presence in the Australian
land transport industry. CDC, which is a joint venture
between ComfortDelGro and Cabcharge of Australia, also
operates bus services in New South Wales and Victoria.
Separately, ComfortDelGro also operates taxi services in
Perth, Western Australia.
ComfortDelGro Managing Director and Group CEO, Mr Kua Hong
Pak, said: "Since we entered the Australian market in 2005
through the acquisition of Westbus, we have experienced
strong revenue and demand growth. Australia's strong economy
and continued population growth has translated into
ever-growing demand for transport services. We remain excited
about prospects - not just in the cities we are in but in new
regions as well."
DTG, which has been operating Government contract routes,
school bus and charter services in New South Wales and
Canberra for nearly 25 years, is based in Queanbeyan, which
is located 10km east of Canberra and 250km southwest of
Sydney. It has a fleet of
97 buses and operates out of two depots.
205 Braddell Road Singapore 579701 www.comfortdelgro.com
Co. Registration No.: 200300002K
Queanbeyan, which is a regional centre in the Southern
Tablelands in south-eastern New South Wales and is adjacent
to the Australian Capital Territory (ACT), has witnessed
strong population growth of over 70% in the last 15 years
with expectations that it will expand by another 50% in the
next decade. About 70% of Queanbeyan's adult population works
in Canberra, translating into strong travel demand for bus
services.
The acquisition of DTG, which is subject to regulatory
approval and due diligence, will cement CDC's position as the
largest private bus operator in Australia with a total fleet
of over 1,500 buses.
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Background
ComfortDelGro is one of the world's largest land transport
companies with a total fleet size of over 46,400 buses, taxis
and rental vehicles. Headquartered in Singapore, the Group
also has operations in China, the United Kingdom, Ireland,
Australia, Vietnam and Malaysia. The Group aims to derive 70%
of its total revenue from overseas in the medium term.
Cabcharge is listed on the Australian Stock Exchange with a
market capitalisation of more than A$600 million. It is a
major financial services provider throughout Australia via
the operation of its Cabcharge account facilities. It is also
the country's largest taxi booking and despatch service
provider.
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