ComfortDelGro JV lands $837m contract to operate rail services in New Zealand

Mainboard-listed transport company ComfortDelGro Group has been awarded a S$1.13-billion ($836.5 million) contract to operate rail services in Auckland, New Zealand, according to a press statement.

The Singapore-based group will operate the rail services through its joint venture with Australian rail operator and maintenance company UGL Rail Services, called Auckland One Rail (AOR), in which it owns a 50% stake.

With this contract, ComfortDelGro, which operates bus and taxi services in Australia and the United Kingdom, is venturing into New Zealand’s land transport market.

ComfortDelGro said that the Auckland rail network is the largest in New Zealand. It has four train lines in the network, which consists of 185km of track, 42 stations, 72 three-car electric multiple-unit trains and eight diesel multiple-unit trains, per the press release.

The network is expected to grow to 44 stations and 95 electric multiple-unit trains, and will likely result in higher ridership, with the opening of Auckland’s new City Rail Link in 2024.

ComfortDelGro operates two train lines in Singapore — the North-East Line and the Downtown Line — via its subsidiary, SBS Transit. It is also part of a consortium bidding for a contract to operate a new metro railway line under the Sydney Metro-Western Sydney Airport project.

Earlier this month, ComfortDelGro announced that it is looking to list its Australian business, ComfortDelGro Corporation Australia, on the Australian Securities Exchange in the last quarter of 2021.

For the year ended December 31, 2020, the Australian businesses chalked up revenue of S$608 million, making it the group’s best performing overseas operation, according to a statement. With a total investment of S$1.17 billion ($880 million) to date, Australia is ComfortDelGro’s single-largest overseas investment destination. It runs public scheduled buses, private coach charters, ambulances, taxis, and outdoor

In July, it partnered with Vietnamese ride-hailer beGroup to launch its beTaxi service. Vinataxi was said to be the third-largest taxi operator in the Ho Chi Minh City market, southern Vietnam.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.