ComfortDelGro’s subsidiary has been shortlisted as one of
four potential operators for London Overground. London
Overground is a suburban rail network and is managed by
Transport for London (TfL). The new concession is for 7.5
years from Nov 2016.
The tender documents will be issued
by end July and bid submission by mid-Oct. At this juncture,
it is still too early to factor this development for CD’s
forecasts given the uncertainty of the tender process and the
other contenders. Nonetheless, our back-of-envelope
calculation suggests that this could have a c.3% positive
impact on CD’s net profit in FY17F if it wins.
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