CDC South East Queensland (CDC SEQ), a subsidiary of transport operator ComfortDelGro ComfortDelGro: C52 -0.73% ' s wholly-owned subsidiary ComfortDelGro Corporation Australia, will acquire certain assets of Rothery' s Coaches business in Rockhampton, Queensland for a total consideration of A$6.75 million (S$6.74 million).

 

This transaction will add another 16 buses to the existing bus operations of CDC SEQ in Rockhampton, the company said in a filing to the Singapore Exchange on Tuesday (Mar 15).

 

CDC SEQ had entered into an agreement with Keydale, Keydale Holdings, Barry Stephen Rothery and Roslyn Ann Rothery on Mar 10 to acquire these selected assets.

 

The total consideration was arrived at on a " willing buyer willing seller" basis after taking into account the book value and net tangible asset value of the identified assets, among other factors.

 

The transaction has no material impact on ComfortDelGro' s net tangible assets or earnings per share for the fiscal year ending December 31, said the company.

Bus operators, delivery companies and cabbies The Sunday  Times spoke to said they are now at their wits' end.

About 30 per cent of their costs are transport-related, and now, with the surge in fuel prices precipitated by Russia&rsquo s invasion of Ukraine, they are among the first to be put through the wringer.