Not just blue and yellow taxis: ComfortDelGro boss reshapes fleet to drive profit turnaround

Singaporeans may soon recognize ComfortDelGro for more than just its iconic blue and yellow taxis, as the transport company broadens its business and expands its fleet, according to Cheng Siak Kian, the company's CEO. Cheng, who took over as CEO in January 2023, said the firm is moving beyond taxis by increasing its private-hire driver pool and diversifying its services to meet growing consumer and business demands both locally and internationally.

"ComfortDelGro is more than just taxis," Cheng emphasized in an interview with The Straits Times on August 14. "Singaporeans' connection to the company through its taxis is just one aspect." He explained that customers could experience faster wait times for taxis due to the growth in the number of private-hire drivers, which rose by 27.9% to over 4,000 over the first half of 2026. This increase followed a shift in drivers' preferences, with more of them opting to lease private hire vehicles instead of taxis.

In addition to enhancing its private-hire fleet, ComfortDelGro is also introducing larger taxis, such as the Toyota Noah Hybrid 6-seater, to cater to groups traveling in bigger numbers. The company is further improving the technology on its app to offer competitive fares for both drivers and customers.

ComfortDelGro is also focusing on enterprise-level jobs, such as providing long-term contracts for passengers with mobility challenges and school runs for children. Cheng noted that these contracts allow the company to negotiate attractive rates for clients while providing long-term job security for drivers.

The transportation provider is also expanding its non-emergency ambulance, bus, and train services as part of its multi-modal transport network. ComfortDelGro's strategy comes as the company faces weaker profits in its taxi and private hire business due to mounting cost pressures and increased competition at home and abroad. The firm reported a 19.7% drop in net profit to $85.1 million in the first half of 2026, mainly due to earnings pressures in the point-to-point business and increased fuel costs.

However, ComfortDelGro's revenue grew by 5.7% year-over-year to $2.6 billion in the first half, driven by its international public transport networks in the UK, Europe, Australia, New Zealand, and Singapore, which accounted for over two-thirds of its total revenue. The company has identified more than $17 billion in opportunities within the public transport space over the next 18 months, including in the Middle East.

Cheng remains optimistic about the future, with the firm aiming to transition 10% of its global point-to-point fleet to autonomous vehicles by 2030. The Middle East, with its investments in public infrastructure, is one area where ComfortDelGro sees significant growth potential. The company is also launching a regional AV center of excellence in Shenzhen, China, and has already begun offering driverless shuttle rides in Punggol, Singapore.