Kelsian Group (ASX:KLS) said that its unit Tower Transit Singapore was awarded two-year contract extensions to contracts with Singapore's Land Transport Authority to operate the Bulim and Sembawang-Yishun bus packages, according to a Wednesday Australian bourse filing.
The contract extension for the Bulim package will begin on May 29, 2026, and end on May 28, 2028, while the extension for the Sembawang-Yishun package will start on Sept. 5, 2026, and continue to Sept. 4, 2028.
The Bulim package represents the operation of 33 bus services, the maintenance of 368 buses, and the management of the Bulim bus depot, as well as four bus interchanges. The Sembawang-Yishun package represents the operation of 26 bus services, the maintenance of 426 buses, and the management of the Mandai bus depot, two bus interchanges, as well as one bus terminal.
The contracts for the Bulim and Sembawang-Yishun packages of public bus services were awarded to the unit in 2020, following a competitive tender.
The firm said it earned a total annual revenue of AU$204 million from these two contracts in the fiscal year 2024.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.