ComfortDelGro's taxi business posted a 10.7% decline in revenues. ComfortDelGro

Shares in ComfortDelGro climbed as much as 4.2 percent to S$1.99 after the Singapore's largest taxi company entered into an agreement with U.S.-based ride-hailing firm Uber Technologies.

At 0210 GMT, about 11.4 million shares changed hands compared to a 30-day average of 10 million shares. Stocks has lost 21 percent over an year.

ComfortDelGro on Friday announced a deal with Uber to manage its fleet of vehicles and booking software solutions in Singapore.

Through the partnership, ComfortDelGro will become a multi-dimensional personalised mobility operator providing a broader range of services to consumers, the company said.

It will also create a path for ComfortDelGro's taxi drivers to receive ride requests on the Uber driver app, thereby increasing their potential earnings while providing users of the Uber app an opportunity to directly book a ComfortDelGro taxi.

The deal, valued at about $642 million, with a cash consideration of $295 million, ranks as ComfortDelGro's single largest deal to-date.