No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 22, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Singapore’s ComfortDelGro will bid for Melbourne’s rail line as it takes its public transport model global

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 3 mins read
A A
Singapore’s ComfortDelGro will bid for Melbourne’s rail line as it takes its public transport model global
Share on FacebookShare on TwitterShare on LInkedIn


ComfortDelGro, which operates Singapore’s Northeast and Downtown lines, is partnering with East Japan Railway Company (JR East) and UGL to form the Melbourne One Rail Consortium to bid for the Melbourne Metropolitan train network sometime next year, when regulators open the tender.

“The bidding team marries world-class Japanese and Singaporean customer service and efficiencies with UGL’s local asset management and operational expertise,” the consortium said in a statement.

The group is backed by the Japanese general trading and investment conglomerate, Marubeni Corporation. 

The line’s current operator is Hong Kong’s MTR, working with John Holland Group and UGL, in a contract that expires in 2027. 

Melbourne’s metropolitan network has 17 lines covering 402 kilometers and 222 stations and is Australia’s largest suburban rail network. It generates about 2 billion Singapore dollars ($1.54 billion) in annual revenue, ComfortDelGro CEO Cheng Siak Kian estimated in an interview with Fortune. ComfortDelGro’s share of that revenue will depend on the joint venture contract, but it would still be a significant boost to the company’s finances.

The company reported revenue of 1.17 billion Singapore dollars ($903 million) for the quarter ending March, with 52.6% of that revenue coming from outside of Singapore. Australia revenue reached 203 million Singapore dollars ($156 million).

If ComfortDelGro’s bid is successful, it’d be the second rail network taken from its Hong Kong competitor. Last year, ComfortDelGro won the bid to operate Stockholm’s metro from MTR, which had run the Swedish city’s trains since 2009. (MTR also recently lost a contract to operate London’s Elizabeth Line to Tokyo Metro).

Cheng chalked up the company’s wins against MTR to fortunate timing. Rail contracts normally span at least seven years, and Cheng said ComfortDelGro now has enough rail experience to make big global bids right as contracts are starting to expire. 

MTR has operated Melbourne’s line for over 10 years, and Stockholm’s for over 14 years by the time ComfortDelGro takes over at the end of the year. 

“Ten to 14 years ago we were not even in the position to bid for this contract,” Cheng said. “It’s just an evolution of time where you gain expertise, and then you work with the right partners to be able to pay for those contracts.”

ComfortDelGro’s expertise

ComfortDelGro’s expertise is in reliably operating driverless metro trains. The company’s two lines, the Northeast line and the Downtown line are the city’s most reliable, with the highest Mean Kilometers Between Failure (MBKF) among the five lines where data exists. (Singapore’s most recent line, the Thomson-East Coast line operated by SMRT, is still too new to have reliability data)

Cheng credited high expectations by Singapore’s consumers for forcing the company to constantly improve its reliability. 

ComfortDelGro does not own the real estate in or around its stations, a significant source of revenue for other rail operators like MTR or JR East. Instead, ComfortDelGro generates revenue from activities like passenger fares, meaning the company must ensure breakdowns are rare to preserve its thin margins.

“We are very focused on operating the system well, and that’s where it gives us the advantage,” Cheng said.

The global play

The Melbourne bid is part of ComfortDelGro’s strategy to leverage its experience in three different kinds of public transport. 

In addition to its Australian operations, ComfortDelGro also operates bus and taxi services in the UK, as well as taxis and private-hire cars in mainland China. It will also operate rail services in Paris later this year.

Courtesy of ComfortDelGro

Cheng hoped ComfortDelGro’s broad experience will help the company keep bidding to expand its presence in its existing markets.  

“The advantage of growing in that manner is a lot of familiarity, both with regulators and the brand name, so that’s what we will try to do,” he said.

If ComfortDelGro’s Melbourne bid is successful, the company will finally operate rail, bus, and taxi services in Australia, allowing it to replicate the multi-modal model it has in Singapore. 

Cheng wants to recreate this model beyond Singapore and Australia. “Where it’s suitable, where it’s viable, we will do so,” he said. 

ComfortDelGro will likely look to expand its presence in existing markets first, or in adjacent markets. “We are quite deliberate about where we are expanding to. We need to understand the revenue model, the regulatory environment, and what is the rule of law,” Cheng said.

But that won’t stop the company from “going to cities where we don’t have a presence yet,” he adds.

This story was originally featured on Fortune.com



Source link

Tags: bidComfortDelGroGlobalLineMelbournesmodelPublicrailSingaporestakesTransport
ShareTweetShare
Previous Post

Trump’s backing for Nippon’s US Steel bid leaves key questions unanswered

Next Post

market: Markets poised for stability as earnings downgrades ease: Dikshit Mittal

Related Posts

edit post
YXT regains compliance with Nasdaq’s minimum bid price requirement (YXT:NASDAQ)

YXT regains compliance with Nasdaq’s minimum bid price requirement (YXT:NASDAQ)

by TheAdviserMagazine
October 22, 2025
0

YXT.com Group Holding Ltd. (NASDAQ: NASDAQ:YXT) said on Wednesday it has regained compliance with Nasdaq’s minimum bid price requirement after...

edit post
As national debt accelerates to  trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

As national debt accelerates to $38 trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

by TheAdviserMagazine
October 22, 2025
0

The U.S. national debt has surged past $38 trillion, according to the U.S. Treasury Department, just two months after surpassing...

edit post
Pegasystems signals accelerating Pega Cloud momentum with ACV growth and partner-driven AI innovation (NASDAQ:PEGA)

Pegasystems signals accelerating Pega Cloud momentum with ACV growth and partner-driven AI innovation (NASDAQ:PEGA)

by TheAdviserMagazine
October 22, 2025
0

Seeking Alpha's Disclaimer: The earnings call insights are compilations of earnings call transcripts and other content available on the Seeking...

edit post
Netflix’s blockbuster run loses spark amid valuation jitters

Netflix’s blockbuster run loses spark amid valuation jitters

by TheAdviserMagazine
October 22, 2025
0

Netflix shares fell more than 10% on Wednesday, as the streaming giant's outlook for the coming quarter left investors nonplussed...

edit post
Corning CEO says Jeff Bezos taught him that creating value is less about overcoming failure than, ‘if something is working, double down on it’

Corning CEO says Jeff Bezos taught him that creating value is less about overcoming failure than, ‘if something is working, double down on it’

by TheAdviserMagazine
October 22, 2025
0

On this episode of Fortune’s Leadership Next podcast, cohosts Diane Brady, executive editorial director of the Fortune CEO Initiative and Fortune Live...

edit post
Navan to aim for -8b valuation in Nasdaq IPO next week

Navan to aim for $7-8b valuation in Nasdaq IPO next week

by TheAdviserMagazine
October 22, 2025
0

Travel booking company Navan, formerly TripActions, will reportedly hold its IPO on Nasdaq next week at a company valuation...

Next Post
edit post
market: Markets poised for stability as earnings downgrades ease: Dikshit Mittal

market: Markets poised for stability as earnings downgrades ease: Dikshit Mittal

edit post
The Theory Of UNCERTAINTY | Armstrong Economics

The Theory Of UNCERTAINTY | Armstrong Economics

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

October 9, 2025
edit post
Sugar Prices Retreat to Multi-Year Lows on the Outlook for Ample Global Supplies

Sugar Prices Retreat to Multi-Year Lows on the Outlook for Ample Global Supplies

0
edit post
Virtual Staging Tech is So Good Now That It’s Earning Flippers and Investors More Money

Virtual Staging Tech is So Good Now That It’s Earning Flippers and Investors More Money

0
edit post
New Rothbard Letters Show His Early Opposition to both Nixon and Reagan

New Rothbard Letters Show His Early Opposition to both Nixon and Reagan

0
edit post
XRP Derivatives Expand on Bybit—Futures and Options Fuel Market Momentum

XRP Derivatives Expand on Bybit—Futures and Options Fuel Market Momentum

0
edit post
Financial infidelity hurts, but there are ways to get past it

Financial infidelity hurts, but there are ways to get past it

0
edit post
8 Best Investments for Retirement

8 Best Investments for Retirement

0
edit post
XRP Derivatives Expand on Bybit—Futures and Options Fuel Market Momentum

XRP Derivatives Expand on Bybit—Futures and Options Fuel Market Momentum

October 22, 2025
edit post
Shutdown hits breakaway advisors starting RIAs

Shutdown hits breakaway advisors starting RIAs

October 22, 2025
edit post
YXT regains compliance with Nasdaq’s minimum bid price requirement (YXT:NASDAQ)

YXT regains compliance with Nasdaq’s minimum bid price requirement (YXT:NASDAQ)

October 22, 2025
edit post
As national debt accelerates to  trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

As national debt accelerates to $38 trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

October 22, 2025
edit post
Willow Processor Maps Molecules 13,000x Faster Than Supercomputer: Google

Willow Processor Maps Molecules 13,000x Faster Than Supercomputer: Google

October 22, 2025
edit post
Virtual Staging Tech is So Good Now That It’s Earning Flippers and Investors More Money

Virtual Staging Tech is So Good Now That It’s Earning Flippers and Investors More Money

October 22, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • XRP Derivatives Expand on Bybit—Futures and Options Fuel Market Momentum
  • Shutdown hits breakaway advisors starting RIAs
  • YXT regains compliance with Nasdaq’s minimum bid price requirement (YXT:NASDAQ)
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.