Land Transport: Regarding the taxi fare standardization (where allcomponents of taxi fares will be standardized, except flag down rates), DBSV thinks changes are immaterial and lesser than expected.
Taxi fares continue to remain unregulated and operators need not seek approval for changes. PTC only needs to be kept informed in advance, except for the mandated areas across all taxi companies, the fare components must be implemented by all taxi companies.
DBSV prefers SMRT (Buy, TP $1.60) to ComfortDelgro (Hold, TP 2.89) on the former’s earnings recovery
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