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SP Mobility, ComfortDelGro Engie bag contracts to deploy EV fast-charging hubs in HDB towns
Each site will feature six to eight 50 kilowatt fast chargers
[SINGAPORE] SP Mobility and ComfortDelGro Engie have won contracts from EV-Electric Charging (EVe) to deploy electric vehicle (EV) fast-charging hubs in HDB towns.
EVe is a subsidiary of the Land Transport Authority.
The hubs will be located across eight sites, including at HDB towns and car parks serving recreational facilities, said EVe on Wednesday (Apr 29). Each site will feature six to eight 50 kilowatt (kW) fast chargers, with the Bukit Canberra site also featuring three 7.4 kW slow chargers.
The latest development follows earlier contracts awarded to SP Mobility and Shell in March after the government outlined plans for every HDB town to have at least one fast-charging hub by end-2027.
&ldquo This tender award, together with our earlier contracts for six fast-charging sites in March 2026, will accelerate the roll-out of fast chargers to keep pace with growing EV demand and adoption,&rdquo said EVe chief executive Stephanie Tan.
Electric vehicle brands reached new heights in the first quarter of 2026, with registrations for some increasing by as much as five times.
Fast-charging options at convenient locations will allow drivers to charge their EVs &ldquo as part of their daily routines&rdquo , added EVe.
The Singapore-assembled Hyundai Ioniq 5&rsquo s battery can be charged from 10 per cent to 80 per cent in about an hour with a 50 kW fast charger.
Both SP Mobility and ComfortDelGro Engie are part of EVe&rsquo s refreshed pre-qualified panel of EV charging operators, appointed to support the next phase of public charging point deployment.
There are currently 21 publicly available fast-charging hubs in Singapore, with planned HDB town deployments set to add around 20 more.
Here are the latest updates on ComfortDelGro (as of Apr 2026)
📊 Strong financial performance (FY2025 results)
📊 Strong financial performance (FY2025 results)
- Revenue crossed S$5 billion for the first time (S$5.06B, +13% YoY)
- Net profit rose 9.4% to S$230.3M
- Overseas business now contributes 55% of revenue
- Total dividend: 8.5 cents/share ( 80% payout)
That's because now is only selected HDB neighbourhoods.. moreover, like you mentioned, BYD fast charging is definitely more tasteful.. just so you know, 1 out of 4 new EVs are BYD.. so it makes sense for the company to rollout these charging stations a few at a times just in case disruptive technologies like BYD fast charging keeps coming out.. also, there are risks factors that the company needs to mitigate.. like possible fire hazard of installing these charging stations in basement (see recent report on china banning charging stations in basement).. one last thing, although not mentioned anywhere, I foresee driverless taxis in the future.. so your concern will be obsolete..
Alignment ( Date: 29-Apr-2026 19:19) Posted:
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I see your point. Your focus is on the charging station as a business in itself. Fair enough, but this contract is tiny relative to an enterprise value of over S$4bn.
My focus was more on the benefit for comfortdelgro cars, which is similarly limited. Taxi drivers are less likely than non-taxi drivers to have a charger parking space at home, so if they had an EV they are more likely to be reliant on charging during daylight hours.Hence the importance of a faster charge.
My focus was more on the benefit for comfortdelgro cars, which is similarly limited. Taxi drivers are less likely than non-taxi drivers to have a charger parking space at home, so if they had an EV they are more likely to be reliant on charging during daylight hours.Hence the importance of a faster charge.
dexterderc ( Date: 29-Apr-2026 19:03) Posted:
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Ermmm.. just because it's comfort delgro doesn't mean the charging stations are only for taxis.. they are for all EVs and currently 60% of all new registered vehicles are EVs.. so the uptake is high and will continue to grow.. thus these charging stations is a need, not a want, in the future.. and this need will translate into profits when everything is rolled out..
Alignment ( Date: 29-Apr-2026 18:43) Posted:
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I spoke to some Comfortdelgro drivers. 50 new chargers at 50kw does not really move the needle for them to adopt EV. Need to charge an hour every two days for the Hyundai. And so few chargers.
Unless there is mass roll out of chargers at a much bigger scale of what is being talked about and probably needs a government subsidy push, game changer will only come if they roll out the new BYD cars and batteries that can do a full charge in 10 mins. But that is still a few years away for SIngapore unless they do a fast track deal with BYD. That would really change the taxi dynamics in SIngapore.
Unless there is mass roll out of chargers at a much bigger scale of what is being talked about and probably needs a government subsidy push, game changer will only come if they roll out the new BYD cars and batteries that can do a full charge in 10 mins. But that is still a few years away for SIngapore unless they do a fast track deal with BYD. That would really change the taxi dynamics in SIngapore.
dexterderc ( Date: 29-Apr-2026 14:41) Posted:
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New EVs registration grows from 18% in 2023 to the current 60%. With such high pickup rate, I think it will be profitable by the time it's operational.
Guzman ( Date: 29-Apr-2026 15:14) Posted:
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So far no EV charging operator make money yet.... early bird or early worm?
https://www.businesstimes.com.sg/companies-markets/transport-logistics/sp-mobility-comfortdelgro-engie-bag-contracts-deploy-ev-fast-charging-hubs-hdb-towns
Came out at 1pm but no movement? 🤔
Apart from A2B acquisition, not sure the other two acquisitions back in 2024 of CMAC and Addison Lee are driving the returns for the group. The y/y growth seen in 2025 is largely from the acquisitions so as we normalize growth with a higher baseline, how will that look like this year?
Guzman ( Date: 28-Apr-2026 19:56) Posted:
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Strong headwinds against CDG in 2026 (1) SBST Revenue will drop with handing over of Tampines package to new operator (2) VICOM profits will drop as OBU installation is near its end (3) Taxi fleet will continue its decline with mass contract renewal in May (4) Australian acquisition a2b is in trouble, not delivering as promised. All provisions made previously have been released. No more bullets left. DYODD..... Sell after XD!
ComfortDelGro 23rd AGM: Key Investor Updates and Price-Sensitive Developments
Introduction
ComfortDelGro Corporation Limited (& ldquo CDG& rdquo ), one of the world& rsquo s largest land transport companies, has released its responses to shareholders& rsquo questions ahead of its 23rd Annual General Meeting. The responses cover a range of strategic, operational, and financial matters, many of which could be significant for current and potential investors.Key Financial and Strategic Highlights
- Fuel Cost Sensitivity and Hedging:
CDG& rsquo s public transport contracts are largely protected against fuel price volatility through contractual indexation and hedging. For the Taxi/PHV segment, fuel surcharges have been introduced to support drivers amid elevated fuel prices. The company is actively monitoring the situation and adjusting its hedging strategies to manage ongoing volatility. - Dividend Policy and Balance Sheet Resilience:
CDG has maintained a dividend payout ratio of at least 70%, with recent years seeing a payout of up to 80% of profits. Despite capital expenditure (CAPEX) for fleet electrification and expansion, much of the CAPEX in public transport is reimbursed by transport authorities, mitigating long-term cash flow risks. The company maintains a conservative leverage profile and adequate liquidity to support future M& A and fleet investments. - Return on Equity (ROE) and Profit Growth:
ROE improved from 8.1% in 2024 to 8.9% in 2025, driven by profit growth. CDG remains committed to enhancing returns through earnings improvement while maintaining stable equity levels. - Interest Rate Outlook and Debt Management:
Net finance costs are expected to decline in FY2026 due to scheduled debt repayments and lower benchmark rates. However, management remains vigilant to global macroeconomic risks, including geopolitical tensions. - Taxi Business Under Pressure:
The Singapore taxi fleet continues to shrink (from 8,424 in 2024 to 7,602 in 2025), reflecting an industry-wide decline. The B2B segment is stable, but the B2C segment faces strong competition from ride-hailing companies. CDG is focusing on premium offerings, adjusting commission structures, and scaling up autonomous vehicle (AV) initiatives.
Significant Developments and Price-Sensitive Issues
- Impact of the Iran War:
The ongoing conflict has led to higher energy costs, supply chain disruptions, and reduced air travel. While contractual mechanisms and hedging have mitigated some cost increases, the UK Taxi/PHV business has seen lower volumes due to reduced airline customers. CDG is monitoring the situation and stands ready to implement further measures if needed. - CAPEX and Bus Fleet Expansion:
CAPEX surged in 2025, mainly due to the purchase of 452 buses for Metroline Manchester and 271 EV buses in London, funded through secured contracts. Further CAPEX is anticipated if CDG wins upcoming public bus franchise tenders in the UK and contract renewals in Singapore. - Contract Renewals and Tender Opportunities:
The Tampines bus package in Singapore will be handed over to a new operator from mid-2026. One major tender (Serangoon-Eunos) is ongoing, and the company is actively pursuing large-scale tenders in the UK (Liverpool, West Yorkshire) and Denmark (Copenhagen Metro). - Autonomous Vehicle (AV) Developments:
CDG& rsquo s AV pilots in Singapore and China are progressing, with commercial robotaxi operations in Guangzhou already generating revenue. The company is preparing to scale these operations to other cities, which could be a significant new revenue stream in the medium term. - Taxi/PHV Segment Challenges:
EBIT margins for the segment fell from 17.6% in 2024 to 13.3% in 2025 (before PPA amortisation and net gain/loss on disposal), driven by competition and lower fleet size. CDG does not expect a return to previous high EBIT margins, especially as acquired businesses like A2B and Addison Lee operate at lower margins. - Strategic Acquisitions and Debt:
Borrowings increased significantly in 2025, primarily to fund bus acquisitions and the purchase of the remaining shares in CityCab. CDG will consider further M& A and may take on additional debt if attractive opportunities arise, provided returns justify the investment. - Rail Fare Increases:
The Public Transport Council granted rail fare increases from December 2025, which will boost revenue. However, under the New Rail Financing Framework, higher profits may result in increased licence charges, partly offsetting the benefit. - Employee-Related Cost Pressures:
In Australia, industry-wide driver shortages have led to higher wages. CDG& rsquo s bus contracts include wage indexation mechanisms, helping to manage cost inflation. - Zig App User Base:
CDG& rsquo s Zig app boasts over 1 million monthly active users and more than 2 million unique users, with a stable user base in 2025. - Other Segments:
The Inspection & Testing segment (VICOM Ltd) contributed 14% of Group profit on just 2.8% of revenue and is poised for further growth. The acquisition of CMAC turned the Other Private Transport segment from loss-making to profitable.
Potential Price-Moving Catalysts
- Further M& A Activity: Any significant acquisition or divestment, including expansion into new regions or scaling up AV operations, could materially impact share value.
- Contract Wins/Losses: Success or failure in major public transport tenders (UK, Singapore, Scandinavia) could swing earnings expectations.
- Macro Risks: Fuel price shocks, supply chain disruptions, and regulatory changes linked to geopolitical events (e.g., the Iran war) remain a key risk and may lead to share price volatility.
- Dividend Decisions: Any deviation from the established dividend policy may affect investor sentiment.
- Autonomous Vehicle Scaling:Success in commercialising AVs in China and Singapore could create a new growth engine for the Group.
Conclusion
ComfortDelGro& rsquo s latest AGM responses reveal a company actively managing industry headwinds while seeking growth through tender participation, fleet electrification, and technology investments. Investors should closely monitor upcoming contract awards, changes in cost structures due to macro events, and the Group& rsquo s ability to maintain its dividend despite capital-intensive investments.Any developments in the areas highlighted above could have a substantial impact on CDG& rsquo s future earnings and share price performance.
Updated chart as of 28 Apr, 5pm
JurongW ( Date: 25-Apr-2026 16:17) Posted:
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With no end in sight to this US/Iran war CDG looks poorly positioned (as does Singapore as a whole unfortunately). If management feels like it has to subsidise drivers rather than pass the costs on then things do not look favourable.
Don't worry! Gd days are coming!
Winnertakeall ( Date: 28-Apr-2026 11:38) Posted:
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52Wk High |
1.640 |
|
52Wk Low |
1.390 |
|
52Wk Spread |
0.250 |
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Volume |
7.31M |
|
Value |
10.90M |
|
Total Buy Vol |
2.55M |
|
Total Sell Vol |
4.76M |
Now @ $1.48 (-0.03) CMI ( Can' t Make It)
Can CDG break out from the trendline resistance in the week of 27 Apr - 1 May?
2 Apr - 1.44
10 Apr - 1.46
17 Apr - 1.48
24 Apr - 1.51 (well done, exceeded by 1 cent)
1 May - Can it reach 153?
2 Apr - 1.44
10 Apr - 1.46
17 Apr - 1.48
24 Apr - 1.51 (well done, exceeded by 1 cent)
1 May - Can it reach 153?
JurongW ( Date: 18-Apr-2026 01:26) Posted:
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RESULTS OF THE TWENTY-THIRD ANNUAL GENERAL MEETING HELD ON 24 APRIL 2026
https://links.sgx.com/1.0.0/corporate-announcements/FMVHOZVSHPNY3GYH/eaea94d9c890e1615e1b049c97a6b41019f5b2c40580757adf88c79bf408aba0#:~:text=CDG%20%2D%202026%20AGM%20%2D%20SGX%20Announcement%20on%20Voting%20Results.pdf
FY2025 Financial Results Summary 23rd AGM
https://links.sgx.com/1.0.0/corporate-announcements/FMVHOZVSHPNY3GYH/eaea94d9c890e1615e1b049c97a6b41019f5b2c40580757adf88c79bf408aba0#:~:text=CDG%20%2D%202026AGM%20%2D%20Summary%20of%20Financial%20Presentation%20Slides%20for%20FY2025.pdf
https://links.sgx.com/1.0.0/corporate-announcements/FMVHOZVSHPNY3GYH/eaea94d9c890e1615e1b049c97a6b41019f5b2c40580757adf88c79bf408aba0#:~:text=CDG%20%2D%202026%20AGM%20%2D%20SGX%20Announcement%20on%20Voting%20Results.pdf
FY2025 Financial Results Summary 23rd AGM
https://links.sgx.com/1.0.0/corporate-announcements/FMVHOZVSHPNY3GYH/eaea94d9c890e1615e1b049c97a6b41019f5b2c40580757adf88c79bf408aba0#:~:text=CDG%20%2D%202026AGM%20%2D%20Summary%20of%20Financial%20Presentation%20Slides%20for%20FY2025.pdf
I will continue update all on the chart. Vested 10 lots....for a long time.
dexterderc ( Date: 22-Apr-2026 15:32) Posted:
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Next week? Next next week?
I can't wait to sell my dis-comfort away..
JurongW ( Date: 22-Apr-2026 15:27) Posted:
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