Singapore Land Transport - RHB Invest 2015-11-30: 2016 Could Be a Year Of Many (Positive) Changes
COMFORTDELGRO CORPORATION LTD S52.SI SMRT CORPORATION LTD S53.SI Singapore Land Transport - 2016 Could Be a Year Of Many (Positive) Changes
- Amidst expectations of increased pace of reforms, we upgrade Land Transport sector to OVERWEIGHT; we estimate ComfortDelGro and SMRT to receive SGD710m and SGD207m of cash inflow from sale of bus assets.
- Competitive intensity in taxi business should drop as Uber/GrabCar are brought under regulatory purview.
- There are reasons supporting the implementation of a new rail financing framework before 2019; LTA could provide clarity on rail reforms as early as 2017.
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