At the results briefing on Feb 27, CDG’s managing director and group CEO Cheng Siak Kian said that the event was “pre-existing” in the Australian taxi industry, saying that it was “driver fraud” and not about A2B or 13Cabs as a company.
Just days before ComfortDelGro (SGX:C52
) (CDG) was to report its FY2024 earnings on Feb 27, several Australian media outlets, including The Sydney Morning Herald, The Age and the current affairs programme 60 Minutes ran reports accusing taxi company A2B, which was recently acquired by CDG for A$165.1 million ($138.3 million), of taking the country “for a ride”.
In response, CDG rejected the “false and misleading claims”, adding that the allegations “ignore the extensive measures we have taken to prevent and combat fraudulent activity in the taxi industry”.
