Acquisition of Harmoniac bus Services
ComfortSG announces that it has acquired Harmoniac Bus Services('Harmoniac'), an independent Singapore bus operator, for an undisclosed sum.
Based from a single depot in Kranji, Harmoniac operates a fleet of approximately 100 vehicles on two current trunk service and one express service. The company generated adjusted operating profit of approximately S$0.4 million on revenue of S$4 million in the year ended 9 September 2008. The acquisition will help expand ComfortSG's footprint in the Singapore's bus markets in which it is currently expanding.
The acquisition follows that of CausewayLinkz Bus Sdn. Bhd. in October 2008.
Commenting on the acquisition, Mr Lim Jia Xuan, Chief Executive of the Group, said:
"This acquirement is really good that the company has already owned some buses and services. I wish that bus markets can expand quickly as the markets now are no so stable. The services in harmoniac really makes the buses spark and clean.The objective of the programme is to try ComfortSG's services and we wish that ComfortSG can continue the services."
New bus interchange, Teban Gardens Bus/MRT Interchange
As said, ComfortSG has bought one new land to build a bus interchange, namely Teban Gardens Bus /MRT Interchange, and they will be in service with effect of 1/2/09 for a new one. Currently, no new bus services going to Teban Gdns Bus interchange is planned now and will plan more in the next two months. A construction starting ceremony was held inside Teban Gardens Bus interchange land and Mr Lim Jia Xuan, our Chief Excutive of Operations, said
"This interchange and the neighborhoods are quite good, and I have been going to the residents to get some surveys to see if I should build the bus interchange.They all are very welcomed to open the bus interchange. But the regretting part is that they have to wait for a quarter of a year.I explained that a bus interchange is not like making magics and 1 second done. The land is quite big and i wish ComfortSG make our best to get the No. 1 best bus company in Singapore."
The Opening Ceremony will start today at Teban Gardens Neighborhood Park.
