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SG : ComfortDelGro - Value unlocking on the cards?

CD saw continued sequential earnings recovery in 1Q with net profit of S$56.2m (+22% qoq, +56% yoy). Results were in line with expectations. CD announced that it is exploring options to unlock value for its Australian assets, including a partial sale or an initial public offering. Outlook remains positive with a gradual resumption of activities. Reiterate Add and TP of S$1.82.


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