It would be an understatement to say that ComfortDelGro Corporation Ltd (SGX: C52), or CDG, has endured some of the toughest months in its life this year.
The COVID-19 pandemic has led to the Singapore government imposing a “circuit breaker” period from April to June where malls were told to shut and people were restricted from gathering and visiting others.
Only essential services were allowed to operate without interruptions.
These tough measures have hit transport companies, such as CDG, hard as fewer people are up and about taking taxis, trains and buses.
More companies have also implemented telecommuting and allowing for flexibility in working from home even as the pandemic eases somewhat.
These new arrangements may continue to depress demand for public transport services in various countries.
With all that’s been going on, can CDG start to witness a nascent turnaround?
No comfort for ComfortDelGro
CDG is a land transport conglomerate that offers a range of public transportation and other...