SINGAPORE - Homegrown global transport giant ComfortDelGro is eyeing Europe as its next growth area, said Mr Lim Jit Poh, its long-serving and outgoing chairman, in a rare press interview on Monday. Read more at straitstimes.com.
In 1979, he oversaw the merging of the two to form the Vocational and Industrial Training Board , which became the Institute of Technical Education in 1992.
Mr Lim said there was no other land transport group in the world which is publicly-listed, multi-modal, and with as wide a global footprint as ComfortDelGro. But the next 20 years may prove more challenging. He sees potential in the Chinese brands, which are ahead of many others in producing electric models.As electric vehicles are costly, and many users are “small family-run businesses”, Mr Lim said ComfortDelGro could “go back to our co-op days”, referring to a time in the 1970s and 1980s when Comfort was a cooperative run by the NTUC.
Listing, he noted, has proven profitable to ComfortDelGro shareholders. “When we merged in 2023, our share price was 70 cents. In the course of 20 years, we have paid 150-over cents in dividends,” Mr Lim said. But he also pointed out that if Comfort Group had not merged with DelGro Corp, it might have gone under when the taxi industry was disrupted. “We would been like SMRT without trains.”
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