ComfortDelgro *Official* (SGX:C52)

Wood41

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Nothing political.
These PAP cadres had been doing very good job running CDG until the dark force set in.
They ventured out unlike other minions.

Many are just not grateful.

all along, Comfort mgt team comrpises of many PAP cadre
 
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Jupiter2017

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HTTPS://WWW.TODAYONLINE.COM/SINGAPO...URN-BELEAGUERED-TAXI-BUSINESS-AROUND-ANALYSTS
Uber deal inadequate to turn ComfortDelGro around: Analysts
Published 09 DECEMBER, 2017 UPDATED 09 DECEMBER, 2017 BY KENNETH CHENG

SINGAPORE — As things stand, the deal between ComfortDelGro and Uber appears inadequate to turn the taxi operator’s bleeding business around, experts said.
On Friday (Dec 8), ComfortDelGro, Singapore’s largest taxi operator, announced it will buy over 51 per cent of Lion City Holdings, Uber’s car-rental arm in Singapore, which runs Lion City Rentals with a fleet of about 14,000 vehicles.
Transport economist Walter Theseira from the Singapore University of Social Sciences said the future of mobility platforms lies in algorithms, data and technology that match travel supply with demand — and “not in the business of owning large fleets”.
Subject to regulatory approval, the S$642 million deal will allow ComfortDelGro’s taxi drivers to take bookings via Uber’s app.
Intense competition — not least from ride-sharing companies such as Grab — has dented ComfortDelGro’s bottomlines in recent months.
In the third quarter of this year, revenues for its taxi business tumbled 11.2 per cent year-on-year, the company announced last month.
Dr Theseira said the deal was a “clear win” for Uber, since it was giving up a majority stake in a company with “rapidly depreciating vehicle assets”, which it is struggling to rent out and do not offer good returns on capital.
However, it remains unclear how ComfortDelGro, which is already struggling with renting its taxis profitably, stands to gain by adding more such vehicles, said Dr Theseira.
“On the surface of things, what it really appears to be (for ComfortDelGro) is a doubling down on the part of the business which has proved to be most challenging — fleet management operations and rentals … it’s frankly the business of the past.”
“It’s not clear that this represents the kind of move that ComfortDelGro needs to stay relevant,” he added.

That said, ComfortDelGro chief executive Yang Ban Seng had hinted in the press statement announcing the move that the firm will “benefit from Uber’s world-class technology”, but did not elaborate.
The two companies noted that they were putting the finishing touches on other unspecified partnership opportunities.
Assistant Professor Terence Fan, a transport specialist with the Singapore Management University, said Uber would benefit from the move, as it was “able to get some cash out of Lion City Holdings”, the profitability and growth potential of which were unclear.
Tying up with a sizeable operator like ComfortDelGro also helps Uber counteract its rival Grab’s “grip on the other smaller taxi companies”, said Asst Prof Fan.

In March, five taxi operators — Trans-Cab, SMRT Taxis, Premier Taxis, Prime Taxi and HDT Singapore Taxi — joined hands with Grab to roll out JustGrab, a fixed-fare service subject to dynamic pricing.
For ComfortDelGro, the move could give it more insight into and latitude over how Lion City Rentals runs, including tamping down rental deals that could slow down the movement of taxi drivers to the private-hire car market, said Asst Prof Fan.
“It’s a way to defend its core business,” he said.

The latest move seems to have cleaved the market into two camps: Uber and ComfortDelGro, pitched against Grab and its five partner taxi operators.
Dr Theseira said such consolidation was inevitable in a “winner-takes-all” industry.

“As long as … Grab and Uber have the money to make their dreams a reality, it was inevitable that they’d get to this point, either by killing the competitor (through) forcing them out of business or buying them over, (although in this deal) it’s the reverse because ComfortDelGro is buying a part of Uber’s business,” he explained.
Going forward, Dr Theseira said there was a “reasonable possibility” Grab and Uber would have to team up, because none will turn a profit as long as either party remains willing to splash money to stay ahead.
Asst Prof Fan said the consolidation also makes it difficult for new entrants to penetrate the market, and it would be a market for “consumers and drivers” if the Uber and Grab camps continue to compete aggressively.

MIXED REACTIONS FROM DRIVERS
Meanwhile, Comfort drivers who spoke to TODAY were mixed on the move.
Cabbie Tan Sing Huat, 47, said taking on bookings via Uber’s app will help. “Any added options will be an advantage to drivers and good for passengers … more bookings mean more choices (for drivers),” he said.
Agreeing, a fellow driver, who gave his name only as Mr Ismail, 50, said he looked forward to “more jobs”, although he noted that he already receives ample bookings from Comfort’s booking system daily.
On the other hand, taxi driver Andy Kwan, 35, who drives a Comfort limousine cab, said the tie-up would not work, noting that the fares Uber offers are typically lower than taxis’ metered fares.
He said he would accept bookings only if the fares were “justifiable” or if ComfortDelGro lowers its rental rates.
Noting the significantly lower vehicle rents private-hire car drivers pay, Mr Kwan, whose rental bill is S$180 daily, said: “(Uber drivers) can afford to accept those S$5, S$8 or S$12 fares. But at the taxi company, we’re paying S$110 at least for the taxi rental (a day), excluding fuel … We can’t even accept those fares. I would rather pass on the fare.”
 

Scrabby

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车龄仅一两年 Uber抛售二手车

2017年8月28日 星期一*02:45 PM

文/周自蕙来自/新明日报

kkc_9198.jpg

优步旗下租车行有近1000辆车长期停放在双溪加株的工业建筑Carros中心。(档案照)

私召车业者Uber开始出售旗下车龄仅一两年的闲置车辆,专家指出,私召车业者数年来形成的干扰,导致拥车证成价没有如车商所预期的大幅下跌,上次无法尝到甜头的国人,这次不妨把握机会一圆拥车梦。

《联合早报》8月27日报道,市面上大批私召车与德士闲置,无人租用的车保守估计有4000余辆。过去几年迅速扩充车队的私召车业者优步(Uber),旗下租车行Lion City Rental,一两个月前开始分批脱售车队,估计共有500辆至1000辆车被脱售。

私召车竞争激烈 致拥车证成价坚挺

新加坡国立大学土木工程系教授李德纮博士告诉《新明日报》,拥车证配额两三年前激增,车商预期成价会放软,但私召车业者同时进入我国市场大量竞标且势在必得,干扰因素令拥车证价格没有如预期般地显著下跌。



“如今配额的增幅已走到尾声,过去几次宣布的配额都在减少中,这个趋势相信会持续下去,因此即使私召车业者过去几轮或许已经减少甚至没有再进场竞标,实际的成价跌幅也不会很明显。”

李德紘说:“之前没有在拥车证配额激增时尝到甜头的国人,其实不妨趁这段时候,选择购买当时优步标下拥车证后,目前正在脱售的二手车,这或许是一圆拥车梦的机会。”

完整报道,请翻阅2017年8月28日的《新明日报》。
 

Dividends Warrior

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5 consecutive trading days of bearish candlesticks with high volume, just before the official announcement of the tie-up with Uber on Friday evening. C'mon, this is too obvious. Apparently, the people with prior knowledge were not feeling positive on this deal.

13795cb060b4f8e17435b53c7241ade764703efe.
 

V_for_Vanilla

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The latest move seems to have cleaved the market into two camps: Uber and ComfortDelGro, pitched against Grab and its five partner taxi operators.
Dr Theseira said such consolidation was inevitable in a “winner-takes-all” industry.

This "winner takes all" nature is the root problem of the industry, and many other industries. In the provision of public service it has failed to serve public interest. I recall the competition in the noughties between Mediacorp and Mediaworks. Consolidation did not benefit public interest.
 

dexboi

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i feel that SG is just too small for multiple companies to compete for market share. It's just not cost effective to run.

3 major banks, 3 major telcos, etc. <- these are still workable cos 1 single person can hold numerous accounts/phone lines etc.

But for transportation, i can't split myself up into 3 parts and take 3 different taxis right? :s22:

IMO, a for-profit company will always want to monopolise and get all the profits instead of sharing em.
 

Opps-gal

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Take bus and mrt? Anyway Comfortdelgro got other investment in other counties?

i feel that SG is just too small for multiple companies to compete for market share. It's just not cost effective to run.

3 major banks, 3 major telcos, etc. <- these are still workable cos 1 single person can hold numerous accounts/phone lines etc.

But for transportation, i can't split myself up into 3 parts and take 3 different taxis right? :s22:

IMO, a for-profit company will always want to monopolise and get all the profits instead of sharing em.
 
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