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Latest Forum Topics / ComfortDelGro    Last:1.29 --  Post Reply
COMFORT DELGRO - MOVING FORWARD
Entropy72
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10-Apr-2023 12:01     
 
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 Alert Admin 		Yes, NUS shuttle operated by CDG. While CDG operates car workshops and are building up EV technical expertise, they may not be equipped to enter battery manufacturing business (not a service business). But battery distribution business makes sense.

Observers      ( Date: 10-Apr-2023 10:00) Posted:

Very good for hilly terrain like NUS. Going up and down the hill without the need to change gear so the ride is very smooth, plus electric motor has huge amount of torque so acceleration is no issue even with full load of passengers. And when it goes downhill can regenerate electricity and charge back into the batteries. I believe they are run by CDG. Hopefully these new 400 electrics are using the new salt ion batteries from CATL and BYD is already putting into use in their electric cars so we have first hand info on the long term feasibiilty of such batteries and maybe set up a " giga factory" JV with CATL in TUAS with a desalination plant extracting salt from the sea water.

Entropy72      ( Date: 10-Apr-2023 08:30) Posted:

Will CDG participate?

-----
Straits Times: 9 Apr 23

SINGAPORE - Around 400 new electric single-deck buses will go on the roads here from December 2024, in the largest procurement contract of its kind by the Land Transport Authority (LTA) as it begins to overhaul Singapore?s fleet of public buses so that half of them run on batteries.

A tender for the electric buses was called on March 27, along with a separate tender to install chargers at four future bus depots and two upcoming integrated transport hubs (ITHs).

The four depots are in Sengkang West, Gali Batu, East Coast and Kim Chuan.
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vicloo
Supreme
10-Apr-2023 11:07     
 
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 Alert Admin 		Perhaps comfort looking into charging station business for the masses? High risk high return business...

Entropy72      ( Date: 10-Apr-2023 10:41) Posted:

Subsidiary SBS Transit operates bus in SG and CDG has entered into JV with Engie to install EV charging points in SG. Ex-Chairman Lim Jit Poh also recently mentioned interest to go into EV distribution and cited $6B worth of EVs to acquire (don't quite understand why so huge a sum if just for taxi and rental car fleet).

vicloo      ( Date: 10-Apr-2023 08:48) Posted:

Comfort doesn't run bus business in SG... Quite a large fleet of its taxi are already Hydrid and some EV too 👍 👍 👍
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Entropy72
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10-Apr-2023 10:41     
 
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 Alert Admin 		Subsidiary SBS Transit operates bus in SG and CDG has entered into JV with Engie to install EV charging points in SG. Ex-Chairman Lim Jit Poh also recently mentioned interest to go into EV distribution and cited $6B worth of EVs to acquire (don't quite understand why so huge a sum if just for taxi and rental car fleet).

vicloo      ( Date: 10-Apr-2023 08:48) Posted:

Comfort doesn't run bus business in SG... Quite a large fleet of its taxi are already Hydrid and some EV too 👍 👍 👍

Entropy72      ( Date: 10-Apr-2023 08:30) Posted:

Will CDG participate?

-----
Straits Times: 9 Apr 23

SINGAPORE - Around 400 new electric single-deck buses will go on the roads here from December 2024, in the largest procurement contract of its kind by the Land Transport Authority (LTA) as it begins to overhaul Singapore?s fleet of public buses so that half of them run on batteries.

A tender for the electric buses was called on March 27, along with a separate tender to install chargers at four future bus depots and two upcoming integrated transport hubs (ITHs).

The four depots are in Sengkang West, Gali Batu, East Coast and Kim Chuan.
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Observers
Elite
10-Apr-2023 10:00     
 
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 Alert Admin 		Very good for hilly terrain like NUS. Going up and down the hill without the need to change gear so the ride is very smooth, plus electric motor has huge amount of torque so acceleration is no issue even with full load of passengers. And when it goes downhill can regenerate electricity and charge back into the batteries. I believe they are run by CDG. Hopefully these new 400 electrics are using the new salt ion batteries from CATL and BYD is already putting into use in their electric cars so we have first hand info on the long term feasibiilty of such batteries and maybe set up a " giga factory" JV with CATL in TUAS with a desalination plant extracting salt from the sea water.

Entropy72      ( Date: 10-Apr-2023 08:30) Posted:

Will CDG participate?

-----
Straits Times: 9 Apr 23

SINGAPORE - Around 400 new electric single-deck buses will go on the roads here from December 2024, in the largest procurement contract of its kind by the Land Transport Authority (LTA) as it begins to overhaul Singapore?s fleet of public buses so that half of them run on batteries.

A tender for the electric buses was called on March 27, along with a separate tender to install chargers at four future bus depots and two upcoming integrated transport hubs (ITHs).

The four depots are in Sengkang West, Gali Batu, East Coast and Kim Chuan.
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vivacious
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10-Apr-2023 09:29     
 
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 Alert Admin 		1.3 akan datang
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vicloo
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10-Apr-2023 08:48     
 
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 Alert Admin 		Comfort doesn't run bus business in SG... Quite a large fleet of its taxi are already Hydrid and some EV too 👍 👍 👍

Entropy72      ( Date: 10-Apr-2023 08:30) Posted:

Will CDG participate?

-----
Straits Times: 9 Apr 23

SINGAPORE - Around 400 new electric single-deck buses will go on the roads here from December 2024, in the largest procurement contract of its kind by the Land Transport Authority (LTA) as it begins to overhaul Singapore?s fleet of public buses so that half of them run on batteries.

A tender for the electric buses was called on March 27, along with a separate tender to install chargers at four future bus depots and two upcoming integrated transport hubs (ITHs).

The four depots are in Sengkang West, Gali Batu, East Coast and Kim Chuan.
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Entropy72
Master
10-Apr-2023 08:30     
 
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 Alert Admin 		Will CDG participate?

-----
Straits Times: 9 Apr 23

SINGAPORE - Around 400 new electric single-deck buses will go on the roads here from December 2024, in the largest procurement contract of its kind by the Land Transport Authority (LTA) as it begins to overhaul Singapore?s fleet of public buses so that half of them run on batteries.

A tender for the electric buses was called on March 27, along with a separate tender to install chargers at four future bus depots and two upcoming integrated transport hubs (ITHs).

The four depots are in Sengkang West, Gali Batu, East Coast and Kim Chuan.
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Winnertakeall
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06-Apr-2023 18:38     
 
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Return of tourism and cheap rides expected to rev up ComfortDelGro' s outlook

https://www.theedgesingapore.com/flash-categories/brokers-calls
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n3wbie
Elite
05-Apr-2023 23:40     
 
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 Alert Admin 		Hopefully so! Only time will tell...

cloudy.mountain      ( Date: 05-Apr-2023 00:36) Posted:

i definitely hope so

the previous board and senior managers were deeply rooted into the operations but at the same time very conservative

hopefully with an investment banker on board, spin-offs and/or higher dividends to unlock value will catalyse upward share price rerating

n3wbie      ( Date: 05-Apr-2023 00:17) Posted:

Also interesting to see the new Chair to be an ex Rothschild banker - does this potentially signal a shake up in strategy and direction
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Ftyeng
Senior
05-Apr-2023 12:49     
 
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 Alert Admin 		Must be use until due for scrapping then buy new EV taxis and buses and stop buying motor-driven taxis and buses.  

Profit already eroded for the past few years so would not anyhow waste money unnecessarilly.    

Joelton      ( Date: 03-Apr-2023 10:58) Posted:

ComfortDelGro to spend $6 billion to replace existing fleet with EVs
 
Lim Jit Poh, chairman of ComfortDelGro Corp expects to spend around $6 billion to replace the bulk of its existing fleet of buses and taxis running on conventional fuel to electric vehicles, according to The Straits Times.
 
&ldquo The evolution of the electric environment promises to open up avenues and opportunities for new business growth,&rdquo said Lim at the company' s 20th-anniversary dinner, according to the Straits Times report, which did not specify the time frame this $6 billion is to be spent.
 
Lim, according to ST, is also &ldquo seriously looking" at re-entering the vehicle distribution business which was given up more than two decades ago.
 
The company, known to be one of the largest land transport operators around, is also mulling diversification into sea and air transport as well as the logistics business, said Lim.
 
Separately, ComfortDelGro has set aside $30 million to develop autonomous driving capabilities.
 
Alluding to its share price that has struggled to rebound even after the pandemic, Lim warns that ComfortDelGro will face a future which is tougher than that it faced in the first 20 years.
 
&ldquo The tasks ahead are therefore very urgent and crucial for our survival. We cannot afford to sit still. I am confident that we have the right resources to confront the challenges that stand before us," said Lim, according to ST.
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cloudy.mountain
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05-Apr-2023 00:36     
 
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 Alert Admin 		i definitely hope so

the previous board and senior managers were deeply rooted into the operations but at the same time very conservative

hopefully with an investment banker on board, spin-offs and/or higher dividends to unlock value will catalyse upward share price rerating

n3wbie      ( Date: 05-Apr-2023 00:17) Posted:

Also interesting to see the new Chair to be an ex Rothschild banker - does this potentially signal a shake up in strategy and direction?

cloudy.mountain      ( Date: 05-Apr-2023 00:15) Posted:

agree with you.

it sends a signal that at the very least he knows there is a problem and will actively work to resolve this problem.

to better days ahead for CDG share price
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n3wbie
Elite
05-Apr-2023 00:17     
 
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 Alert Admin 		Also interesting to see the new Chair to be an ex Rothschild banker - does this potentially signal a shake up in strategy and direction?

cloudy.mountain      ( Date: 05-Apr-2023 00:15) Posted:

agree with you.

it sends a signal that at the very least he knows there is a problem and will actively work to resolve this problem.

to better days ahead for CDG share price!

MambaFinancial89      ( Date: 03-Apr-2023 11:31) Posted:

I actually like the fact that Chairman addressed and is concerned about the significant drop in market cap while also saying the company has the right resources to confront the challenges. 
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cloudy.mountain
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05-Apr-2023 00:15     
 
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 Alert Admin 		agree with you.

it sends a signal that at the very least he knows there is a problem and will actively work to resolve this problem.

to better days ahead for CDG share price!

MambaFinancial89      ( Date: 03-Apr-2023 11:31) Posted:

I actually like the fact that Chairman addressed and is concerned about the significant drop in market cap while also saying the company has the right resources to confront the challenges. 

Winnertakeall      ( Date: 31-Mar-2023 22:07) Posted:

ComfortDelGro to spend $6b on switch to EVs

SINGAPORE Transport giant ComfortDelGro Corp expects to spend $6 billion to replace the bulk of its fleet of largely combustion-engined buses and taxis with electric vehicles (EVs), said its founding chairman. 

The amount is equivalent to almost three times the group current market value. 

Speaking at the group 20th anniversary gala dinner at the Ritz-Carlton, Millenia Singapore on Friday, Mr Lim Jit Poh said most of the investment will be for the acquisition of new EVs.

The evolution of the electric environment promises to open up avenues and opportunities for new business growth, the 83-year-old, who is retiring in April, told some 800 guests present. 

Mr Lim also said the group is seriously  looking at the distribution of electric vehicles, revisiting a motor vehicle distribution business Comfort Group had before its merger with property firm DelGro Corp in 2003. 

We are already leaders in bus and taxi operations, he said. In commercial  vehicles, we need to take advantage of this electrification phase to accelerate  and emerge as a leader.

Mr Lim added that ComfortDelGro will face a future which is tougher than that it faced in the first 20 years.

We have been laying the foundations for the future, he said, noting that the group is setting aside $30 million to learn and master managing autonomous  vehicles.

Farther afield, we are actively looking at the logistics business, said Mr Lim. 

The veteran chairman added that the group must consider expanding into sea and air transport. 

In terms of geography, we have to expand into Europe at a speed that keeps pace with what we have  been doing in Australia. Plans must be afoot in preparation for expansion  within our Asean region. We have to continue to keep large economies like China and India on our radar screen.& rdquo 

The chairman said ComfortDelGro had performed exceedingly well in the earlier years.

But our performance in more recent times has declined, he added. 

Our market capitalisation has dropped significantly from an initial  pro forma figure of $1.5 billion in 2003, rising to a peak of $6.8 billion in 2015  and now hovering around $2.6 billion just 73 per cent above the initial merger figure but 62 per cent below our peak. These are alarm bells.  

He continued: The tasks ahead are therefore very urgent and crucial for our survival.  We cannot afford to sit still... I am confident that we have the right resources to confront the challenges that stand before us.
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vivacious
Supreme
04-Apr-2023 10:04     
 
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 Alert Admin 		gg to 1.30 + soon
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MambaFinancial89
Veteran
03-Apr-2023 11:31     
 
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Yells: "Be greedy when others are fearful. "
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 Alert Admin 		I actually like the fact that Chairman addressed and is concerned about the significant drop in market cap while also saying the company has the right resources to confront the challenges. 

Winnertakeall      ( Date: 31-Mar-2023 22:07) Posted:

ComfortDelGro to spend $6b on switch to EVs

SINGAPORE Transport giant ComfortDelGro Corp expects to spend $6 billion to replace the bulk of its fleet of largely combustion-engined buses and taxis with electric vehicles (EVs), said its founding chairman. 

The amount is equivalent to almost three times the group current market value. 

Speaking at the group 20th anniversary gala dinner at the Ritz-Carlton, Millenia Singapore on Friday, Mr Lim Jit Poh said most of the investment will be for the acquisition of new EVs.

The evolution of the electric environment promises to open up avenues and opportunities for new business growth, the 83-year-old, who is retiring in April, told some 800 guests present. 

Mr Lim also said the group is seriously  looking at the distribution of electric vehicles, revisiting a motor vehicle distribution business Comfort Group had before its merger with property firm DelGro Corp in 2003. 

We are already leaders in bus and taxi operations, he said. In commercial  vehicles, we need to take advantage of this electrification phase to accelerate  and emerge as a leader.

Mr Lim added that ComfortDelGro will face a future which is tougher than that it faced in the first 20 years.

We have been laying the foundations for the future, he said, noting that the group is setting aside $30 million to learn and master managing autonomous  vehicles.

Farther afield, we are actively looking at the logistics business, said Mr Lim. 

The veteran chairman added that the group must consider expanding into sea and air transport. 

In terms of geography, we have to expand into Europe at a speed that keeps pace with what we have  been doing in Australia. Plans must be afoot in preparation for expansion  within our Asean region. We have to continue to keep large economies like China and India on our radar screen.& rdquo 

The chairman said ComfortDelGro had performed exceedingly well in the earlier years.

But our performance in more recent times has declined, he added. 

Our market capitalisation has dropped significantly from an initial  pro forma figure of $1.5 billion in 2003, rising to a peak of $6.8 billion in 2015  and now hovering around $2.6 billion just 73 per cent above the initial merger figure but 62 per cent below our peak. These are alarm bells.  

He continued: The tasks ahead are therefore very urgent and crucial for our survival.  We cannot afford to sit still... I am confident that we have the right resources to confront the challenges that stand before us.
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Joelton
Supreme
03-Apr-2023 10:58     
 
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ComfortDelGro to spend $6 billion to replace existing fleet with EVs
 
Lim Jit Poh, chairman of ComfortDelGro Corp expects to spend around $6 billion to replace the bulk of its existing fleet of buses and taxis running on conventional fuel to electric vehicles, according to The Straits Times.
 
&ldquo The evolution of the electric environment promises to open up avenues and opportunities for new business growth,&rdquo said Lim at the company' s 20th-anniversary dinner, according to the Straits Times report, which did not specify the time frame this $6 billion is to be spent.
 
Lim, according to ST, is also &ldquo seriously looking" at re-entering the vehicle distribution business which was given up more than two decades ago.
 
The company, known to be one of the largest land transport operators around, is also mulling diversification into sea and air transport as well as the logistics business, said Lim.
 
Separately, ComfortDelGro has set aside $30 million to develop autonomous driving capabilities.
 
Alluding to its share price that has struggled to rebound even after the pandemic, Lim warns that ComfortDelGro will face a future which is tougher than that it faced in the first 20 years.
 
&ldquo The tasks ahead are therefore very urgent and crucial for our survival. We cannot afford to sit still. I am confident that we have the right resources to confront the challenges that stand before us," said Lim, according to ST.
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Winnertakeall
Elite
31-Mar-2023 22:07     
 
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ComfortDelGro to spend $6b on switch to EVs

SINGAPORE Transport giant ComfortDelGro Corp expects to spend $6 billion to replace the bulk of its fleet of largely combustion-engined buses and taxis with electric vehicles (EVs), said its founding chairman. 

The amount is equivalent to almost three times the group current market value. 

Speaking at the group 20th anniversary gala dinner at the Ritz-Carlton, Millenia Singapore on Friday, Mr Lim Jit Poh said most of the investment will be for the acquisition of new EVs.

The evolution of the electric environment promises to open up avenues and opportunities for new business growth, the 83-year-old, who is retiring in April, told some 800 guests present. 

Mr Lim also said the group is seriously  looking at the distribution of electric vehicles, revisiting a motor vehicle distribution business Comfort Group had before its merger with property firm DelGro Corp in 2003. 

We are already leaders in bus and taxi operations, he said. In commercial  vehicles, we need to take advantage of this electrification phase to accelerate  and emerge as a leader.

Mr Lim added that ComfortDelGro will face a future which is tougher than that it faced in the first 20 years.

We have been laying the foundations for the future, he said, noting that the group is setting aside $30 million to learn and master managing autonomous  vehicles.

Farther afield, we are actively looking at the logistics business, said Mr Lim. 

The veteran chairman added that the group must consider expanding into sea and air transport. 

In terms of geography, we have to expand into Europe at a speed that keeps pace with what we have  been doing in Australia. Plans must be afoot in preparation for expansion  within our Asean region. We have to continue to keep large economies like China and India on our radar screen.& rdquo 

The chairman said ComfortDelGro had performed exceedingly well in the earlier years.

But our performance in more recent times has declined, he added. 

Our market capitalisation has dropped significantly from an initial  pro forma figure of $1.5 billion in 2003, rising to a peak of $6.8 billion in 2015  and now hovering around $2.6 billion just 73 per cent above the initial merger figure but 62 per cent below our peak. These are alarm bells.  

He continued: The tasks ahead are therefore very urgent and crucial for our survival.  We cannot afford to sit still... I am confident that we have the right resources to confront the challenges that stand before us.
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n3wbie
Elite
22-Mar-2023 09:06     
 
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 Alert Admin 		Good point and observation, thanks for sharing

vicloo      ( Date: 22-Mar-2023 05:52) Posted:

I believe COE going to crash soon, Comfort opportunity to buy new taxis. Both new car and preown are slowing. New car sales office are forced to utilise the coe they bidded on brand new cars in showrooms... see how this can sustain.

https://www.straitstimes.com/singapore/transport/used-car-sales-down-77-in-first-two-months-of-2023-new-car-registration-falls-238

n3wbie      ( Date: 21-Mar-2023 22:50) Posted:

Not at all. Cash is king and staying defensive is key to ride out market volatilities and uncertainties. Like that the stock has a solid balance sheet with net cash of $650M and continue to be FCF positive which is important in today' s marke
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vicloo
Supreme
22-Mar-2023 05:52     
 
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 Alert Admin 		I believe COE going to crash soon, Comfort opportunity to buy new taxis. Both new car and preown are slowing. New car sales office are forced to utilise the coe they bidded on brand new cars in showrooms... see how this can sustain.

https://www.straitstimes.com/singapore/transport/used-car-sales-down-77-in-first-two-months-of-2023-new-car-registration-falls-238

n3wbie      ( Date: 21-Mar-2023 22:50) Posted:

Not at all. Cash is king and staying defensive is key to ride out market volatilities and uncertainties. Like that the stock has a solid balance sheet with net cash of $650M and continue to be FCF positive which is important in today' s market

MambaFinancial89      ( Date: 21-Mar-2023 14:47) Posted:

Thanks for the info, Sir. Looks like at least one house is pushing their case. Expects profit growth in FY23, 5% yield, reasonable 13x P/E valuation multiple and a robust net cash position to fuel European expansion initiatives amid rising interest rates. Relatively defensive as well as an essential service as tourism rebounds. What is there not to like? Accumulated more at $1.17. 
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n3wbie
Elite
21-Mar-2023 22:50     
 
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 Alert Admin 		Not at all. Cash is king and staying defensive is key to ride out market volatilities and uncertainties. Like that the stock has a solid balance sheet with net cash of $650M and continue to be FCF positive which is important in today' s market

MambaFinancial89      ( Date: 21-Mar-2023 14:47) Posted:

Thanks for the info, Sir. Looks like at least one house is pushing their case. Expects profit growth in FY23, 5% yield, reasonable 13x P/E valuation multiple and a robust net cash position to fuel European expansion initiatives amid rising interest rates. Relatively defensive as well as an essential service as tourism rebounds. What is there not to like? Accumulated more at $1.17. 

n3wbie      ( Date: 21-Mar-2023 14:16) Posted:

Hi there, RHB wrote an update today which may be of interest. Fyip

Keep BUY and SGD1.40 TP, 21% upside, 5% yield. ComfortDelGro has acquired a small private hire car (PHC) operation in the UK. Although it will not materially change the earnings outlook, it is part of CD&rsquo s larger aim to grow its presence beyond Singapore. We maintain our investment thesis that CD will deliver 11% profit growth in 2023, aided by recoveries in Singapore rail ridership, Australia bus charters, UK coach services, and Singapore and China taxi services. The stock is trading at an attractive 2023 P/E of 13x vs its historical mean of 16x.

Acquisition of a small UK business. CD announced the acquisition of Vedamain Ltd, which operates a PHC business under the KingKabs brand in Chester, UK. CD will pay GBP7.25m (c.SGD11.82m) in cash for the acquisition. Vedamain operates a fleet of about 500 PHC. Based on the last available filing, Vedamain had a cash balance of GBP0.6m and shareholder&rsquo s equity of GBP1.5m as of 30 Sep 2021.

Ambition to grow overseas. In a Straits Times article, CD' s outgoing chairman stated that the group&rsquo s next big leap would be a foray into Europe, starting with a joint bid with French transport group RATP to run three rail lines in Paris. Europe is a region where CD may not be able to start afresh, so it will grow through acquisitions. The chairman identified Europe as a key market for overseas growth, as other major markets such as North America, Africa, and India are not in its sights at the moment. CD has a target to derive 70% of its revenue overseas, up from around 45% now. Given its net cash position of SGD653.4m, ability to generate strong FCF, and available facilities of c.SGD775m, CD could undertake a sizeable transaction if an earnings-accretive acquisition is on offer.

Unchanged investment thesis. We reiterate our view that the public transport services in Singapore, especially rail services, should witness a strong increase in ridership with higher tourist arrivals in 2H23. Singapore&rsquo s taxi business could see a gradual reduction in rental rebates, and China taxi businesses should benefit from the reopening of the country&rsquo s economy. The strong FCF generation, we believe, will enable CD to pay higher dividends in 2023F-2025F. We estimate a 65% payout ratio for 2023F-2025F, which implies yields of 5-6%. Despite the headwinds from higher operating costs, uncertainty over the timing of indexation formulas, and lower bus service fees, CD could deliver c.10% profit CAGR in 2022-2025F. For the Bukit Merah and Jurong West Bus Packages in Singapore, we maintain our base case assumption that CD will retain these packages, but will see lower margins for the contract extensions. Note: Our TP includes a 12% ESG premium (based on our proprietary methodology) over the SGD1.25 FV
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