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You think you go Australia, you can escape SP charges...No, you pay SP Ausnet hahaha
You make a phone call, SingTel Optus will bill you, hehehe
You take a taxi in Perth it is ComfortDelgro SWan hohoho
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1069702/1/.html
$46.8m cash offer for Perth taxis from Singapore's ComfortDelGro
Posted: 16 July 2010 0909 hrs
Photos 1 of 1
Western Australia's Swan Taxi service in Perth
Singapore: Taxi and transport-related firm ComfortDelGro Corporation has made a takeover bid of S$46.8 million (A$38.8 million ) in cash for Swan Taxis Limited, the largest provider of taxi services in and around Perth, Western Australia.
If successful, the move will further extend ComfortDelGro’s presence in Australia where it is already one of the largest private bus operators in New South Wales and Victoria.
ComfortDelGro’s offer to be financed by internal funds,is for all the shares and options in Swan Taxis which has a fleet of 1,667 taxis or a 91% share of the market.
This includes services in metropolitan Perth and outside the city, in Karratha located 1,500 km north of Perth; and Mandurah the second largest city in Western Australia located 72 km south of Perth.
An offer along with all the required documents required by the Australian Corporations Act 2001, will be sent in two weeks’ time to all Swan Taxis shareholders who have seven weeks to accept the offer, which is conditional upon approval from the regulatory authorities.
A compulsory acquisition of all shares will be made once the minimum threshold of 90% acceptances is reached.
Mr Kua Hong Pak, ComfortDelGro Managing Director and Group CEO, said: “Swan is the leading taxi operator in Western Australia with an advanced despatch system and a strong customer base. We are excited about the prospects that this proposed acquisition offers us – a geographical expansion and extension of another of our core businesses in Australia.”
Swan Taxis which has been in existence since 1928 started out as a co-operative before being restructured into an unlisted public company in 2007.
For the 12 months ended 30 June 2009, Swan Taxis turned in a revenue of A$13.3 million and profit before tax of A$4.6 million.
ComfortDelGro's operations in Singapore include the CityCab and the SBS Transit bus and train fleet.
The company which was formed on 29 March 2003 through the merger of two Singapore land transport giants - Comfort Group and DelGro Corporation also handles transport services in China, the United Kingdom, Ireland, Vietnam and Malaysia.
ComfortDelGro said the acquisition is not expected to have any material impact on the net tangible assets per share and the earnings per share of the ComfortDelGro Group for the financial year ending 31 December 2010.
-CNA/sf
You make a phone call, SingTel Optus will bill you, hehehe
You take a taxi in Perth it is ComfortDelgro SWan hohoho
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1069702/1/.html
$46.8m cash offer for Perth taxis from Singapore's ComfortDelGro
Posted: 16 July 2010 0909 hrs
Photos 1 of 1
Western Australia's Swan Taxi service in Perth
Singapore: Taxi and transport-related firm ComfortDelGro Corporation has made a takeover bid of S$46.8 million (A$38.8 million ) in cash for Swan Taxis Limited, the largest provider of taxi services in and around Perth, Western Australia.
If successful, the move will further extend ComfortDelGro’s presence in Australia where it is already one of the largest private bus operators in New South Wales and Victoria.
ComfortDelGro’s offer to be financed by internal funds,is for all the shares and options in Swan Taxis which has a fleet of 1,667 taxis or a 91% share of the market.
This includes services in metropolitan Perth and outside the city, in Karratha located 1,500 km north of Perth; and Mandurah the second largest city in Western Australia located 72 km south of Perth.
An offer along with all the required documents required by the Australian Corporations Act 2001, will be sent in two weeks’ time to all Swan Taxis shareholders who have seven weeks to accept the offer, which is conditional upon approval from the regulatory authorities.
A compulsory acquisition of all shares will be made once the minimum threshold of 90% acceptances is reached.
Mr Kua Hong Pak, ComfortDelGro Managing Director and Group CEO, said: “Swan is the leading taxi operator in Western Australia with an advanced despatch system and a strong customer base. We are excited about the prospects that this proposed acquisition offers us – a geographical expansion and extension of another of our core businesses in Australia.”
Swan Taxis which has been in existence since 1928 started out as a co-operative before being restructured into an unlisted public company in 2007.
For the 12 months ended 30 June 2009, Swan Taxis turned in a revenue of A$13.3 million and profit before tax of A$4.6 million.
ComfortDelGro's operations in Singapore include the CityCab and the SBS Transit bus and train fleet.
The company which was formed on 29 March 2003 through the merger of two Singapore land transport giants - Comfort Group and DelGro Corporation also handles transport services in China, the United Kingdom, Ireland, Vietnam and Malaysia.
ComfortDelGro said the acquisition is not expected to have any material impact on the net tangible assets per share and the earnings per share of the ComfortDelGro Group for the financial year ending 31 December 2010.
-CNA/sf
