ComfortDelGro(CD) has further increased its presence in China through:
1) The purchase of 100% of the issued share capital of Jia Run Taxi Co.,Ltd through its subsidiary Beijing Jin Jian Taxi Service Co.,Ltd and,
2) An increase of its shareholding in Chongqing ComfortDelGro Driver Training Co.,Ltd.

Under the first agreement, Jia Run Taxi Co., Ltd was acquired for S$16.2m. At 1.0x NAV, the purchase consideration compares favourably with CD's 1.9x P/B. Taxi fleet size in Beijing will increase by 342 or 6.7% to 5,421 vehicles.The acquisition will be immediately earning accretive, adding approximately S$0.6m or 0.3% to the Group's net profit in 2009. Although the size of this acquisition is small, it demonstrates CD's capability to make acquisition at attractive valuations amid difficult times.

Under the second agreement, CD increased its shareholding in Chongqing ComfortDelGro Driver Training Co.,Ltd from 80% to 90% by paying S$1.36m for the additional 10% it acquired from its existing partner.