ComfortDelGro (CDG), through its Australian subsidiary, ComfortDelGro C52 0.00% Corporation Australia, has won three bus franchises within the Victorian Department of Transport and Planning&rsquo s Metropolitan Zero Emission Bus (ZEB) Franchises tender process. There were a total of five contracts up for tender.

 

The three franchises are worth around A$1.6 billion ($1.4 billion) over 10 years. Under the new franchises, which comprise 250 public bus and school routes serviced by over 360 buses, buses and depots are funded as part of the contracts and will transition to full ZEB operations prior to the end of the contract term. The term will commence on July 1, 2025.

 

The latest win will see CDG increasing its market share in the state by 30% CDG will serve 20% of Melbourne&rsquo s metropolitan network upon the start of the contract.

 

&ldquo We are delighted to have been awarded the three franchises in Victoria. This significant expansion will add resilience to our portfolio and solidify the group' s position as a leading bus and multi-modal transport provider in Australia. We look forward to continuing to serve the local community by providing safe and reliable services,&rdquo says CDG&rsquo s managing director and CEO Cheng Siak Kian.

 

&ldquo The award of these zero-emission bus tenders in Melbourne underscores our commitment to electrifying our fleet and reducing our environmental footprint. We are proud to support governments in building safe, reliable, and sustainable transportation systems for the communities they serve,&rdquo adds CDG&rsquo s chairman Mark Greaves.

 

On a pro forma basis, had the contracts been awarded on Dec 31, 2023, CDG&rsquo s net asset value (NAV) per share would have been slightly higher at $1.21 for FY2023 ended Dec 31, 2023, from $1.20.

 

Had the contracts been awarded on Jan 1, 2023, CDG&rsquo s earnings per share (EPS) for FY2023 would have been at 8.99 cents from 8.33 cents originally.

 

LHN releases 3QFY2024 business updates maintains &lsquo robust&rsquo momentum in core business segments

 

Real estate management services company, LHN Group, has released its 3QFY2024 business updates, citing a &ldquo robust&rdquo momentum in its core business segments. 

 

As at June 30, LHN has achieved overall occupancy rates of over 90%, which spans across its portfolio of industrial, commercial and Coliwoo co-living properties. 

 

The group has also secured 2,401 keys within its co-living Singapore projects, comprising master lease projects and owned or joint ventures at 1,851 keys and 550 keys, respectively. 

 

In 3QFY2024, LHN has since secured 28 new facilities management contracts. 

 

Moving forward, the group has launched several new projects which include properties at 268 River Valley and 288 River Valley. 

 

Both projects offer a combined total of 69 keys and are set to operate in 4QFY2024. Another project at 48 & 50 Arab Street, which will add 26 keys to the group, is expected to become operational in 1QFY2025.

 

See also: ASL Marine reports FY2024 earnings of $3.9 mil, 10.6% higher y-o-y

 

Other projects in the group&rsquo s pipeline include a property development project in a food processing industrial development at 55 Tuas South Avenue 1. The group is currently in the midst of obtaining a Temporary Occupation Permit and the property is expected to be ready for sale in September 2024.

 

Within its energy business segment, the group has achieved a total solar energy capacity of 6 megawatts as at June 30. 

 

It has also secured a new contract to install and operate electric vehicle (EV) charging points as well as three solar energy contracts with a combined capacity of approximately 0.8 megawatts. 

 

As at June 30, the group is operating 17 EV charger points as well as over 25,000 car park lots in Singapore and over 1,000 lots in Hong Kong.