Top Stock Market Highlights of the Week: ComfortDelGro Corporation, iFAST and China’s Bank Reserve Ratio
Welcome to this week’s edition of top stock market highlights.
ComfortDelGro Corporation Ltd (SGX: C52)
ComfortDelGro, or CDG, through its joint venture with Go-Ahead Group, Connecting Stockholm, of which it owns a 45%-stake, was awarded a contract by the Stockholm Public Transport Administration, Trafikförvaltningen, to operate and maintain the Stockholm Metro.
This contract marks the land transport group’s first rail contract in Sweden and will become its largest rail passenger operation outside of Singapore.
Operations are slated to commence in May 2025 and the contract will last for 11 years.
Connecting Stockholm will operate and maintain all of Stockholm Metro’s seven lines which include 100 stations, six depots, and 107 kilometres of track.
As the appointed rail operator, CDG is responsible for customer service, the planning and delivery of rail services, and equipment and facility maintenance.
The contract is also structured to account for the potential development and expansion of Stockholm Metro in the future....