SINGAPORE TRANSPORT FIRM OFFERS A$38.8 MIL FOR SWAN TAXIS

By Neville D'Cruz

MELBOURNE, July 16 (Bernama) -- Western Australia's largest taxi operator,
Swan Taxis, has advised its shareholders to accept a A$38.8 million takeover
offer from Singapore-based transport company, ComfortDelGro.

Swan Taxis chairman and managing director Kevin Foley said the board had
reviewed the offer and was "satisfied it represented a strong return to
shareholders and the best opportunity to develop the business to meet growing
demand."

"For all our valued drivers and staff it will be business as usual," Foley
said in a statement Friday.

Swan Taxis said the proposal would not alter its operations and management
in Western Australia and Foley would remain with the unlisted company to ensure
continuity and stability within the future management.

"ComfortDelGro intends to continue Swan Taxis' business without any major
changes and ensures continued employment for existing Swan Taxis employees,"
the statement said.

Swan Taxis' suitor is the world's second largest transport.

It owns 75 per cent of SBS Transit, which is listed on the Singapore Stock
Exchange.

-- BERNAMA