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Old 05-02-2018, 08:24 PM   #2341
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CD is still bullish on taxi overseas, interesting given Singapore's situation
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Old 05-02-2018, 10:55 PM   #2342
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Singapore taxi fleet size at its lowest in over 10 years

Singapore taxi fleet size at its lowest in over 10 years

http://www.straitstimes.com/singapor...-over-10-years

SINGAPORE - Singapore's taxi fleet has shrunk to its smallest size in more than a decade, with numbers of the blue Comfort-branded cabs tumbling below 10,000 for the first time since 2005.

According to latest Land Transport Authority statistics, the taxi fleet stood at 23,140 as of Dec 31, 2017 - 19 per cent down from its 2014 peak of 28,736.

Market leader ComfortDelGro's fleet tumbled to 13,244 - 22 per cent down from its December 2015 fleet size. Its Comfort-branded cab numbers stood at 9,825, while its CityCab taxis numbered 3,419.

In contrast, the chauffeured private-hire car population stood at 46,903 - more than double the taxi numbers - at the end of last year, according to the LTA.

Uber, along with its Asian rival Grab, arrived in Singapore in 2013.

Flush with billions in investors' funds, they have been growing the taxi-like service aggressively. Most of the cars are owned by car rental firms or motor companies, but some 14,000 of these are estimated to be owned by Lion City Rentals, which is in turn owned by American ride-hailing firm Uber.

Mr Ang Hin Kee, executive adviser to the National Taxi Association as well as the National Private Hire Vehicles Association, said: "With the alliance of private-hire companies and traditional taxi operators in the works, these operators are more a ride service vehicle hiring operation rather than a typical taxi rental operation we are familiar with."

The labour MP, however, said he is concerned about the ballooning fleet size. "I think our market will need only an optimal number of vehicles."

He said that with "too many drivers chasing after a finite number of commuters, it is unsustainable", adding that the earnings of drivers will eventually be affected.

Meanwhile, the Competition Commission of Singapore, in response to queries from The Straits Times, said it will complete the first phase of its review of the proposed Comfort-Uber alliance by Feb 19.

If there are concerns, the commission will go into a second phase of deliberations, which will be more extensive.
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Old 07-02-2018, 06:48 PM   #2343
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http://www.businesstimes.com.sg/comp...rator-for-13m
ComfortDelGro's unit acquires UK transport operator for 13m
Wed, Feb 07, 2018 - 6:35 PM Stephanie Luo stephluo@sph.com.sg

COMFORTDELGRO Corporation is expanding its footprint in the United Kingdom through a new acquisition of a bus and coach operator in South Wales.
On Wednesday, the transport company announced that its wholly-owned subsidiary, Braddell Limited, is acquiring all the shares of New Adventure Travel (NAT Group).
The purchase consideration is about 13.4 million (S$25 million), which translates into a valuation of 5.5 times earnings before interest, taxes, depreciation and amortisation of NAT Group, ComfortDelGro said.
The acquisition will be financed using internal funds.
ComfortDelGro currently operates around 1,700 vehicles in London through another wholly-owned subsidiary, Metroline Limited.
ComfortDelGro's managing director and CEO, Yang Ban Seng, said: "With the addition of NAT Group, we are broadening our footprint into Wales and expanding the bus operations outside of London which have always been our strategic intent."
The company said that the proposed acquisition is not expected to have any material impact on the net tangible assets per share and the earnings per share of ComfortDelGro for the current financial year.
ComfortDelGro closed at S$2.03 on Wednesday, down three Singapore cents, or 1.5 per cent.

price link: http://www.shareinvestor.com/fundame...counter=C52.SI
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Old 09-02-2018, 05:45 PM   #2344
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Old 09-02-2018, 06:20 PM   #2345
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i remember its a bearish article on cdg iirc

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Old 09-02-2018, 08:20 PM   #2346
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i remember its a bearish article on cdg iirc

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I haven't read on it yet actually

Shall read it over the weekends
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Old 13-02-2018, 10:32 PM   #2347
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Wait for jupiter to post results

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Old 13-02-2018, 11:49 PM   #2348
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http://www.straitstimes.com/singapor...-earnings-down

ST: Weaker taxi business drags ComfortDelGro earnings down

SINGAPORE - Transport giant ComfortDelGro Corp posted a 4.9 per cent drop in net earnings to $301.5 million for the year ended Dec 31, 2017 on the back of weaker contributions from all but one of its core businesses.

With its taxi division continuing to take a beating from private-hire players, stiff competition in overseas markets and foreign exchange losses, group revenue shrank by 2.2 per cent to $3.97 billion.

Total operating expenses rose by one per cent to $3.56 billion, with staff cost climbing by 2.6 per cent or $37.2 million because of additional people hired for Downtown Line 3.

The Singapore-listed group posted a 0.4 per cent rise in operating profit for its bus and train division, but all other units reported lower earnings.

Taxi operating profit fell by 19.3 per cent to $135.1 million, automotive engineering (which includes fuel sales to cabbies) slipped 33.1 per cent to $33.9 million, and its inspection unit shrank by 6.3 per cent to $32.6 million on weaker performance in its Setsco testing division.

Even its driving centre business posted a 7.5 per cent dip in operating profit to $9.8 million, largely on the failure of its Chongqing school, which has since closed down.

ComfortDelGro's earnings per share dipped to 13.95 cents, down from 14.72. Its net asset value per share stood at 121.01 cents, up from 114.77.

Its operating margin before interests, taxes and depreciation shrank from 21.1 to 20.6 per cent.

The group posted a net cash outflow of $183.1 million. Its cash and equivalents stood at $596.2 million, down from $779.3 million. After borrowings, it had a net cash position of $273.9 million, down from $434.2 million previously. Its gearing ratio was 10.6 per cent, down marginally from 10.8.

Net capital expenditure fell by 27.4 per cent to $283.6 million, mainly on fewer taxi purchases .

ComfortDelGro group chief executive Yang Ban Seng described 2017 as "very challenging".

"The intense competition from ride-hailing apps has taken a toll on traditional taxi businesses everywhere," he said on Tuesday. "We too have not been spared, particularly in Singapore. But we have taken it in our stride, and continue to strengthen our relationship with our driver partners and find ways to improve their earnings."

Mr Yang said the alliance with Uber - which has yet to be approved by the Competition Commission - should "widen the revenue base for our driver partners".

He said about 5 per cent of the group's taxi fleet is currently unhired. The fleet has shrunk by more than 20 per cent to 13,200 since 2014. He said the group would not be buying any more taxis for the 2018 financial year.

"We expect the operating environment to remain tough," Mr Yang added. "We will actively look for opportunities to grow and expand the business, both in Singapore and overseas."

ComfortDelGro's revenue contribution from overseas was 37.5 per cent last year, with operating profit contribution from markets such as UK, Australia and China at 40.4 per cent. This indicates the group's overseas businesses have become more profitable than those in Singapore.

Directors are recommending a final dividend of 6.05 cents per share - unchanged from the year before.

They expect revenue from buses and trains to rise this year (2018), while its taxi and automotive engineering units are expected to decline further.
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Old 15-02-2018, 06:58 AM   #2349
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LTA to take over NE Line, Sengkang-Punggol LRT assets worth $30.8M

http://infopub.sgx.com/Apps?A=COW_Co...ba5667424a2050
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Old 15-02-2018, 07:27 AM   #2350
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LTA to take over NE Line, Sengkang-Punggol LRT assets worth $30.8M

http://infopub.sgx.com/Apps?A=COW_Co...ba5667424a2050
Anything to do with CD?
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Old 15-02-2018, 07:37 AM   #2351
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Anything to do with CD?
NE Line, Sengkang LRT and Punggol LRT are operated by SBS Transit

But this one is take over the assets and maintenance, right ?
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Old 15-02-2018, 07:41 AM   #2352
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ComfortDelGro owns 74% of SBS to my understanding. No idea whether there will be any impact
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Old 17-02-2018, 08:50 AM   #2353
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Uber is preparing to sell Southeast Asia unit to Grab in exchange for stake in company

https://www.cnbc.com/2018/02/16/uber...t-to-grab.html
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Old 17-02-2018, 10:41 AM   #2354
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Uber is preparing to sell Southeast Asia unit to Grab in exchange for stake in company

https://www.cnbc.com/2018/02/16/uber...t-to-grab.html
Gg lah then tie up for what lol
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Old 17-02-2018, 11:33 AM   #2355
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tio troll by uber

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