ComfortDelgro *Official* (SGX:C52)

dontwastetime

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After price crashes, Analysts reduce their TP. After price rallies, Analysts increase their TP.
Pls rely on your own FA, not analysts ;)

Dun forget 50% of the time they crash stock with low TP
then make auntie uncle buy with high TP

But either way... this share needs to huat to pre-covid.. undervalued, even with grab
 

limster

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I purchased it in June 2017 at an average price of S$2.46. Based on Bloomberg data, analysts have an average 12-month target price of S$1.54, even as the company’s stock sat at S$1.29 as at Nov 30.

To avoid the opportunity cost of underperforming the market, I am closing my position in the stock and investing my money in an index fund instead. That would be my gift to myself this festive season.
https://www.businesstimes.com.sg/opinion-features/give-yourself-gift-selling-your-losers

If he doesn't have holding power to hold until $1.50, then its a good move to make use of the recent rally to get out at $1.30.
 

limster

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PATMI is up about 10% YoY.
Jan 2023 price + 10% = $1.35 so that would be a fair valuation for those that want to buy at the next dip.
 

Shion

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ComfortDelGro launches EV charging JV in Guangzhou​


https://www.theedgesingapore.com/ca...mfortdelgro-launches-ev-charging-jv-guangzhou

ComfortDelGro (CDG) and Guangzhou Public Transport Group (GZPTG) marked the launch of their new joint venture (JV), Guangzhou ComfortDelGro C52 0.00% Guangjiao New Energy Company, today in Guangzhou, China.

The JV will focus on deploying and operating electric vehicle (EV) charging infrastructure and related services, and the initial investment includes four charging stations equipped with 240 chargers, with a total capacity of 21,600 kilowatts (kW).

Located in Guangzhou’s Huangpu and Baiyun Districts, these stations will support the operation of 480 electric buses.

ComfortDelGro’s JV partner GZPTG is the largest public transport and road transport enterprise in South China. It operates more than 13,000 electric buses in Guangzhou.

Apart from this JV, ComfortDelGro also operates three other businesses in China – taxi, bus station and construction logistics – in cities such as Beijing, Shenyang, Jilin City, Guangzhou, Nanning, Shanghai, Suzhou, Nanjing and Chengdu.

The company runs a total of 9,400 vehicles in China including 5,800 EVs.

Cheng Siak Kian, ComfortDelGro Managing Director and Group CEO, who was present at the event, says: “ComfortDelGro welcomes the opportunity to deepen our longstanding partnership with this new joint venture and to offer more sustainable mobility solutions to support the green
transition of the transportation industry.”

“As the leading land transport company in South China, GZPTG is firmly committed to low-carbon mobility solutions,"says Lin Dian Sheng, Deputy General Manager of GZPTG.

“Our strategic partnership with ComfortDelGro taps on our respective strengths, enabling us to offer clean, efficient, and sustainable solutions to customers in China and beyond," he adds.
 

Shion

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ComfortDelGro to fully acquire taxi network operator A2B Australia for $145.7 million​


https://www.straitstimes.com/busine...twork-operator-a2b-australia-for-1457-million

SINGAPORE - ComfortDelGro has agreed to acquire all the shares in A2B Australia it does not already own via a scheme of arrangement for A$1.45 in cash per share, it announced on Dec 22.

Australian taxi network operator A2B is also a provider of technology and payment solutions for the personal transport industry. It is listed on the Australian Securities Exchange, and its offerings range from taxi services brands 13cabs and Silver Service, to its Cabcharge digital payment solution.

ComfortDelGro and its Australian subsidiary Swan Taxis currently hold about 9.3 per cent of A2B.

At A$1.45 apiece, the consideration for ComfortDelGro to acquire the remaining shares in A2B stands at A$165.1 million (S$145.7 million).

The cash offer excludes A2B’s payment of a 60 Australian cents per share special dividend in respect of net proceeds from its sale of certain properties, which is expected to be paid out on Jan 30, 2024.

ComfortDelGro said its scheme to acquire the rest of A2B values the Australian transport company’s issued equity value at A$182 million on a fully-diluted basis.

It intends to fund the transaction through existing cash and bank facilities.

ComfortDelGro said acquiring the rest of A2B presents a “unique opportunity” for the group to acquire a portfolio of businesses “in line with its strategy to scale its point-to-point mobility business in Australia”.

Describing A2B as “highly complementary” to ComfortDelGro’s business, managing director and group chief executive Cheng Siak Kian said the acquisition would also allow for the diversification of the group’s offerings in Australia, “transforming ComfortDelGro Corporation Australia into a national multi-modal mobility player”.

ComfortDelGro chairman Mark Greaves said: “As a major long-term shareholder of A2B, and with our deep global transport experience, we are well-placed in terms of capital and expertise to grow these assets, generating value and growth for our shareholders and enhancing connectivity for communities.”

The transaction is slated for completion in the first half of 2024, and is subject to approval from A2B’s shareholders, the Australian court and clearance from the Australian Competition and Consumer Commission, among other conditions.

A2B’s board of directors have unanimously recommended that the company’s shareholders vote in favour of the scheme, with expected voting to take place in late March 2024.

Shares of ComfortDelGro were trading up two cents, or 1.5 per cent, at $1.38 as at 9.41am on Dec 22, after the announcement. THE BUSINESS TIMES
 

Shion

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ComfortDelGro joint venture clinches $5.1 billion Stockholm Metro contract​


https://www.straitstimes.com/singap...-clinches-51-billion-stockholm-metro-contract

SINGAPORE - Transport giant ComfortDelGro has clinched a major contract to operate the Stockholm Metro system, further expanding the group’s international footprint.

Connecting Stockholm, the group’s joint venture with Go-Ahead Group, was awarded an 11-year contract worth more than 40 billion Swedish krona (S$5.1 billion) to run and maintain Stockholm Metro’s three existing lines – covering seven routes – from May 2025.

This is ComfortDelGro’s first rail contract in Sweden and will be its largest rail passenger operation outside of Singapore, the group said in a statement on Jan 24.

On a work day, the metro serves more than 1.2 million passengers in the Swedish capital. It includes 100 stations, six depots and 107km of track.

Connecting Stockholm will handle customer service, planning and delivery of rail services, as well as fleet, station and depot facility maintenance.

The contract will also allow Connecting Stockholm to provide project support for Trafikforvaltningen, the Stockholm Public Transport Administration, to develop and expand the metro system in future. Stockholm is building extensions to its three-line metro network and a fourth line.

ComfortDelGro holds a 45 per cent stake in the joint venture. Its partner Go-Ahead is the majority owner of British rail network Govia Thameslink Railway, with experience in rail operations in Norway and bus services in Sweden.

The Stockholm Metro is currently run by Hong Kong’s MTR, whose concession agreement ends in 2025. MTR has been operating the rail system for 14 years, since 2009.

According to MTR’s annual report, Stockholm Metro is operated by MTR Tunnelbanan AB, a fully owned subsidiary of MTR Nordic AB, which is wholly owned by MTR Corp.

ComfortDelGro had faced competition from MTR and Singapore’s dominant rail operator SMRT to operate the metro. Strides International Business, a business arm of SMRT, collaborated with France’s Transdev Group to bid for the contract.

The latest contract brings the total length of rail operated by ComfortDelGro to 317km, and comes after the group was awarded a contract in July 2023 to operate the south sector of Paris’ Line 15 for an initial term of six years, with an opportunity for an extension to nine years.

In 2021, the group won a $1.13 billion contract to operate rail services in Auckland in a joint venture with Australian operator UGL Rail Services.

ComfortDelGro chairman Mark Greaves said the group’s active expansion into the international rail scene is part of its strategy to grow its core public transportation business into new regions.

In Singapore, ComfortDelGro’s subsidiary SBS Transit operates three rail lines – the North East Line, the Downtown Line and the Sengkang-Punggol LRT.

ComfortDelGro’s shares closed one cent higher at $1.41 on Jan 24.
 

dontwastetime

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5.1 billion contract = 1 cent gain o_O

ComfortDelGro joint venture clinches $5.1 billion Stockholm Metro contract​


https://www.straitstimes.com/singap...-clinches-51-billion-stockholm-metro-contract

SINGAPORE - Transport giant ComfortDelGro has clinched a major contract to operate the Stockholm Metro system, further expanding the group’s international footprint.

Connecting Stockholm, the group’s joint venture with Go-Ahead Group, was awarded an 11-year contract worth more than 40 billion Swedish krona (S$5.1 billion) to run and maintain Stockholm Metro’s three existing lines – covering seven routes – from May 2025.

This is ComfortDelGro’s first rail contract in Sweden and will be its largest rail passenger operation outside of Singapore, the group said in a statement on Jan 24.

On a work day, the metro serves more than 1.2 million passengers in the Swedish capital. It includes 100 stations, six depots and 107km of track.

Connecting Stockholm will handle customer service, planning and delivery of rail services, as well as fleet, station and depot facility maintenance.

The contract will also allow Connecting Stockholm to provide project support for Trafikforvaltningen, the Stockholm Public Transport Administration, to develop and expand the metro system in future. Stockholm is building extensions to its three-line metro network and a fourth line.

ComfortDelGro holds a 45 per cent stake in the joint venture. Its partner Go-Ahead is the majority owner of British rail network Govia Thameslink Railway, with experience in rail operations in Norway and bus services in Sweden.

The Stockholm Metro is currently run by Hong Kong’s MTR, whose concession agreement ends in 2025. MTR has been operating the rail system for 14 years, since 2009.

According to MTR’s annual report, Stockholm Metro is operated by MTR Tunnelbanan AB, a fully owned subsidiary of MTR Nordic AB, which is wholly owned by MTR Corp.

ComfortDelGro had faced competition from MTR and Singapore’s dominant rail operator SMRT to operate the metro. Strides International Business, a business arm of SMRT, collaborated with France’s Transdev Group to bid for the contract.

The latest contract brings the total length of rail operated by ComfortDelGro to 317km, and comes after the group was awarded a contract in July 2023 to operate the south sector of Paris’ Line 15 for an initial term of six years, with an opportunity for an extension to nine years.

In 2021, the group won a $1.13 billion contract to operate rail services in Auckland in a joint venture with Australian operator UGL Rail Services.

ComfortDelGro chairman Mark Greaves said the group’s active expansion into the international rail scene is part of its strategy to grow its core public transportation business into new regions.

In Singapore, ComfortDelGro’s subsidiary SBS Transit operates three rail lines – the North East Line, the Downtown Line and the Sengkang-Punggol LRT.

ComfortDelGro’s shares closed one cent higher at $1.41 on Jan 24.
 

dontwastetime

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Market din even bulge.. and dropped on news somemore.

Usless CEO should be jailed and caned, cause more damage to the citizens (share holders) than iswran
 

limster

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Market din even bulge.. and dropped on news somemore.

Usless CEO should be jailed and caned, cause more damage to the citizens (share holders) than iswran


GipOAq5.png

One glance at Comfort Delgro vs STI ETF shows that CDG has outperformed STI a lot.

CDG is one of my big holdings and excluding dividends, its already green for me. The dividend adds an extra 3%++ each year.

If you are unable to make money investing in CDG, then maybe you have to rethink your investing strategy rather than asking for the CEO to be arrested. :ROFLMAO:
 
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dontwastetime

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GipOAq5.png

One glance at Comfort Delgro vs STI ETF shows that CDG has outperformed STI a lot.

CDG is one of my big holdings and excluding dividends, its already green for me. The dividend adds an extra 3%++ each year.

If you are unable to make money investing in CDG, then maybe you have to rethink your investing strategy rather than asking for the CEO to be arrested. :ROFLMAO:
uv9lcI.jpg
 
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limster

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the price has been slowly creeping upwards.

P/E ratio currently about 15, plus a large cash pile. I got confidence that CDG will be able to grow earnings by at least 10% for 2023, in which case, price should rise by 10% to maintain the 15x P/E.

The electrification drive will eventually benefit CDG more than its competitors, especially if it profits from the CDG Engie charging network as well. There are no moves by Grab to provide their own EV charging points, so Grab drivers once they are forced to electrify (either by regulations or by because petrol taxes will continue to rise) will have to use SP or CDG Engie chargers.

I still feel $1.30 is an achievable target price by the end of the year, or worst case, Jan/Feb 2024.
Bought some at $1.13. Queueing for more at $1.12

Looks like your market timing is bad, buy at high price, end up -9%. Last year can buy for $1.1x, so cheap, sure make money. Why not follow me and buy at $1.1x also? :cool:
 
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DevilPlate

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Looks like your market timing is bad, buy at high price, end up -9%. Last year can buy for $1.1x, so cheap, sure make money. Why not follow me and buy at $1.1x also? :cool:
I follow u buy but i sold liao.

Profit margin is super thin for cdg….
Those new contracts in EU….kena one riot jialat liao
 

limster

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I follow u buy but i sold liao.

Profit margin is super thin for cdg….
Those new contracts in EU….kena one riot jialat liao

I think its a good idea to take profits. I don't think there is much upside left. It is more of a slow and steady stock, where the price will track the EPS. If earnings go up slowly, price should go up slowly as well.
 

jtsh55

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ComfortDelGro reports FY2023 earnings of $180.5 mil, 4.3% higher y-o-y

ComfortDelGro has reported earnings of $180.5 million for the FY2023 ended Dec 31, 2023, 4.3% higher y-o-y.

Without the one-off gain of $30.5 million from the disposal of the Alperton property in London, earnings rose by 26.6% y-o-y.

Revenue rose by 2.6% y-o-y to $3.88 billion with better performance seen from the taxi and private hire segment as personal transport demand in Singapore remained high.

“We are encouraged by our strong performance and the sustained recovery across all segments in 2023. Our global rail business has demonstrated notable growth, as shown by our recent successes in Europe," says Cheng Siak Kian, managing director and group CEO of ComfortDelGro C52 2.22% .

"We remain focused on executing our strategy by leveraging our expertise in public transport to win new tenders in existing and new geographies, growing our point-to-point mobility business and expanding our service offerings in our key markets,” he adds.

The group has proposed a final dividend of 3.76 cents per share, bringing FY2023’s total dividend to 6.66 cents a share, representing a payout ratio of 80%.

As at Dec 31, 2023, cash and cash equivalents stood at $856.9 million.

Shares in ComfortDelGro closed 2 cents lower or 1.46% down at $1.35 on Feb 29.
 
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