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COMFORT DELGRO - MOVING FORWARD
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MambaFinancial89
Veteran |
14-Mar-2023 18:52
Yells: "Be greedy when others are fearful. " |
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Love to see CDG buying back shares today but the amount is truly peanuts, given the size of the company. 62,300 shares pruchased at $1.17 amounting to $72,985. Less than 1.1% of the total volume traded. Haha.
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vivacious
Supreme |
14-Mar-2023 16:37
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OVERSOLD | ||||
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Conman
Elite |
09-Mar-2023 01:50
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Noted
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Conman
Elite |
09-Mar-2023 01:45
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Supreme Gen Tan, Never before I ever ask you to buy or sell. You need not defend yourself buying. Your money, you decide. Want to buy, just buy. Want to sell, just sell. But when you lose money, dont blame me. I was never the one who pushed it down.
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PhillipTan
Supreme |
08-Mar-2023 21:29
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Sea finally turned losses into profit, share price jumped more than 20% in one night Grab is still making tonnes of losses Between Sea and Grab, I chose Sea Between CDG and Grab, I chose CDG Short CDG more and I will slowly load up more, maybe Aug special div again and div payout will exceed 10% Keep tanking Grab and Brag, sooner or later it will become Garb-age |
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Speediman
Veteran |
08-Mar-2023 18:08
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I need you to short more & press down the price. However if you cannot press it down, i will make money :)
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Conman
Elite |
08-Mar-2023 17:21
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You dont have to believe me. But you will continue to lose money.
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GoldenPig
Veteran |
08-Mar-2023 16:22
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Agree! 👍 🏻 Anyway, CDG has many revenue sources and the management appears to be proactive. It is not just a taxi business. We do not need to be fixated on it. 😆
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Speediman
Veteran |
08-Mar-2023 16:12
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SIA have scoot too. Did it kill off their business? No! CDG will be silly not to extend their business to PHV. Big cake small bun they all offer, as long as it can make money! Open grab, gojek and zig app to check prices at the same time, Zig is usually cheaper. Sooner or later, smart consumers will flock to CDG Zig to take taxi/phv. More cabbies will probably want to take bookings from Zig given the huge disparity in commission prices. CDG 5% is one of the lowest compared to Grab 20%. With the cash ($600+M) that CDG have in hand, the new management team have a lot of war chest to launch new projects and initiatives. Taxi business is back for CDG!
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Conman
Elite |
08-Mar-2023 13:52
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Guru, let me tell you again, if Zoom Bee is so greedy to do PHV business, it is going to kill its own taxi business in double quick time (it is going to die anyway though but my prediction is only in 8 to 10 years)
Reasons : - if driving PHV can be more profita be than driving taxis, who wants to drive taxis? - if driving Zoom Bee's PHV is not as frofitable as driving taxis, why not hop to driving Grab. Recently Grab has an advertisment that its drivers can earn $2k a week. Can any taxi driver even smell it?
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Conman
Elite |
08-Mar-2023 13:39
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Guru, dont talk about revenue. Tell us : What is the profits? How many cars? Is it woth doing it to kill its own taxi business?
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Entropy72
Master |
08-Mar-2023 12:15
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You talk as though CDG is a piece of dead furniture which cannot evolve or adapt to yrs times. Both Chairman and GCEO have changed to younger generation.
In SWOT analysis, the PHV Threat has been converted into Opportunity for CDG. Meanwhile, CDG is able to leverage on its assets (eg EV charging, servicing workshops, vehicle purchase scale, Zip platform) to attract more PHV / taxi drivers to rent from them. GRAB / Gojek does not offer these. Grab advantage is early mover to capture drivers / customers after burning through tonnes of investor money to offer discounts and incentives. This advantage is not sustainable. Contrary to what you said, I doubt majority of PHV drivers are car owners who need not rent car to do the work. Most are renting cars which is why COE is so high now. Hence, I expect CDG will beef up its Zip platform and car leasing business even as it seeks to venture into more overseas market (Europe was highlighted by Lim Jit Poh).
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Entropy72
Master |
08-Mar-2023 11:58
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Extract from slide 24:
"Revenue in 2022 vs 2021 increased by $8.9m or 34.4% ? Mainly due to increased PHV fleet year-on-year"
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Luzern
Supreme |
08-Mar-2023 11:33
Yells: "9" |
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Financial Statements and Related Announcement::Full Yearly Results (sgx.com) 1) Presentation slides page 16 of 32. 2) PHV is a trend that cannot be reverse, unless by govt legislation, hence, it will be better to embrace it and take advantage of it. 3) Loyalty needs to be carefully engineered. It basically boils down to how much value CDG can create for the PHVs. If CDG Management is out of ideas, can always PM me.
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Conman
Elite |
08-Mar-2023 11:10
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1. Taxis and PHVs Improving meaning what? Please provide the numbers.
2 Allowing PHVs to take taxi booking is going to back-fire at its taxi rental business. And unless these PHV drivers can get competitive rentals and bookings as good as Grab drivers, they will jump ship after their contracts. 3. PHVs renting is a very competitive business anyone can enter. Drivers hop around for their own advantage. No point talking about loyalty.
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Luzern
Supreme |
08-Mar-2023 09:17
Yells: "9" |
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IMO, PTS is the main contributor of revenue and profit. It is also the segment that is likely to get squeezed and vulnerable to contract bidding mis-calculation. Taxi and PHV (using CDG platform) are improving. This trend should continue as CDG have tactical advantage here and if they can value add for PHV using their platform to lock-in their loyalty. If CDG Management is out of idea, can always get external help, learn from their competitors, have a good brain-storming session or.....if really no idea, can always PM me.  .
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PhillipTan
Supreme |
08-Mar-2023 09:00
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Coming divs 4.22 cents, more than double of last year' s May payout If Aug' s div payout is maintained the same, div will be around 7% If double of last year as well, it will be more than 10% Enjoy the party bros  |
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Conman
Elite |
08-Mar-2023 08:58
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Are you impressed, Guru? | ||||
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Entropy72
Master |
07-Mar-2023 21:46
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Source: The Straits Times
SINGAPORE ? Home-grown global transport giant ComfortDelGro is eyeing Europe as its next growth area, said Mr Lim Jit Poh, its long-serving and outgoing chairman, in a rare press interview on Monday. Mr Lim ? who has served as ComfortDelGro chairman since its formation and will step down in April ? said the group?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. The winner is expected to be announced in the second half of the year. ?It?s a region where we probably cannot start afresh, so it will be through acquisitions,? he said of Europe, which is vital if the group wants to expand its overseas businesses, as other major markets such as North America, Africa and India are not in its sights at the moment. ComfortDelGro has a target to derive 70 per cent of its revenue overseas, up from around 45 per cent now. ?It should definitely at least be more than Singapore,? Mr Lim said of the revenue split. ?Otherwise, (it will have) no meaning.? Spanning six decades across the education, construction and transport industries, and the public and private sectors, Mr Lim?s career experience is, to say the least, wide and varied. But the 83-year-old said his proudest achievement was the merger between Comfort Group and DelGro Corp 20 years ago. Comfort was predominantly a taxi company, while DelGro was a struggling property developer and holding company of bus operator SBS. Mr Lim, then deputy chairman of Comfort, was also a director of DelGro. It was there that he met a fellow DelGro director, the late ComfortDelGro group chief executive Kua Hong Pak, with whom he initiated the idea of a merger. ?We asked: Why should we compete against each other overseas? Both groups were going to China. It didn?t make sense for us to compete. Our staff were knocking on the same doors, fighting among ourselves,? he said. The merged entity started life with a net debt of more than $349 million, largely incurred by DelGro. One of the first things Mr Lim did was to sell off DelGro?s loss-making property businesses. ComfortDelGro, which marks its 20th anniversary on March 29, ended 2022 with net cash of $653.4 million. Since the merger, the group?s corporate footprint has expanded from China ? where it has a presence in nine cities ? to include Australia, Britain and New Zealand. It was not the first merger Mr Lim planned. After he graduated from the then University of Singapore in 1964, he spent the first 20 years of his working life in the civil service, starting out as a classroom teacher. He moved on to the Ministry of Education, became chief executive of the Industrial Training Board and a director of the Adult Education Board. In 1979, he oversaw the merging of the two entities to form the Vocational and Industrial Training Board (VITB), which would later become the Institute of Technical Education in 1992. Mr Lim moved from VITB to become executive director of the then National Productivity Board. After serving his civil service bond, the Fulbright scholar and Raffles Institution schoolmate of former prime minister Goh Chok Tong and presidential candidate Tan Cheng Bock left to join home-grown construction and property development firm Lum Chang. He helped it list on the stock exchange within one year. While at Lum Chang, he concurrently served on the board of vehicle inspection group Vicom, starting from ?day one? when it was set up in 1981. Vicom soon became a subsidiary of Comfort Group, and Mr Lim became a Comfort director too. He said he was invited to join the SBS board, and then the DelGro board, because of his involvement in property at Lum Chang, where he held the post of executive director. He left the Lum Chang group in November 2003. ?In 2003, Hong Pak and I met, talked and discussed a merger,? he recalled. This would lay the foundation for what was to become one of the world?s largest land transport companies. Mr Lim Jit Poh, 83, said his proudest achievement was the merger between Comfort Group and DelGro Corp 20 years ago. ST PHOTO: KUA CHEE SIONG Mr Lim said there is no other land transport group in the world which is publicly listed, multi-modal, and with as wide a global footprint as ComfortDelGro. But the next 20 years may prove more challenging. On the target to raise its overseas revenue contribution from 45 per cent to 70 per cent, Mr Lim said: ?It is very hard to achieve because the Singapore base is also growing at the same time. But it should still be a target.? He has ideas about where growth could come from. Besides its European foray, Mr Lim said the group was aiming to grow its non-emergency medical transport business to cater to an ageing population here and abroad. Its role, he said, could go beyond transporting the elderly and infirm to include tying up with medical care and aftercare service providers to offer a one-stop solution. ComfortDelGro has started this business in Singapore and Australia, and is looking to expand it. Another area of growth would be the distribution, leasing and financing of electric commercial vehicles. ?Electrification is an opportunity for the market to readjust, for new players to come in,? he said. ?We have the money.? He sees potential in Chinese brands, which are ahead of many others in producing electric models. Lim Jit Poh becomes emeritus chairman of Vicom after 37 years as its chairman As electric vehicles are costly, and many users are ?small family-run businesses?, Mr Lim said ComfortDelGro could ?go back to our co-op days?, referring to a time in the 1970s and 1980s when Comfort was a cooperative run by the National Trades Union Congress. With bulk orders, ComfortDelGro would be able to get lower prices. It could provide financing, leasing, insurance, and vehicle-charging services. ?This cooperative could later be corporatised, with these member businesses holding shares, and we could list it later,? he said. ?We need to sweat again, and get it all organised,? he added, admitting that it would need a new group of executives ?who are not acquiring something, but starting something?. ?It requires a different skill set.? His biggest regret? ?The failure of the IPO in Australia ? we went in too early,? he said, referring to the 2021 ditching of the Australian division?s initial public offering. If the IPO had been successful, it would have created ?a mini-ComfortDelGro with buses, taxis and trains?, Mr Lim said, adding that the same could be done for all its other geographical segments ?in time to come, and then ComfortDelGro would become an investment holding company?. Listing, he noted, has proved profitable to ComfortDelGro shareholders. ?When we merged in 2003, our share price was 70 cents. In the course of 20 years, we have paid 150-over cents in dividends,? said Mr Lim. ?Which means you would have taken back more than twice what you invested, plus whatever increased value of the shares you own.? ComfortDelGro?s share price peaked at around $3.20 in mid-2015, but took a beating after the taxi industry was disrupted by ride-hailing companies such as Grab and Uber. It recovered to around $2.80 in mid-2019, but has been on the downtrend since, ending at $1.20 on Monday. Mr Lim admitted that the growth achieved in the past two decades may not be easy to replicate. ?The question is, can we sustain it, with competition and disruption everywhere? That era is over. It?s tough.? But he also pointed out that if Comfort Group had not merged with DelGro Corp, it might have gone under when the taxi industry was disrupted. ?We would have been like SMRT without trains.? In 2022, Mr Lim stepped down as Vicom chairman and became its emeritus chairman. In 2021, he stepped down as chairman of SBS Transit. In April, he will relinquish his position of chairman at ComfortDelGro, and take up a position as emeritus chairman. ?I?ve been very blessed. To be involved as long as I have, over three phases ? civil service, family business, and professional director ? is a very rare opportunity. Coupled with good health, of course,? he said. ComfortDelGro dropped from STI, replaced by liquor giant Emperador Mr Lim said he was looking forward to having his private life back. ?How many good years do I have left? I want to travel, catch up with reading, do some private investment here and there,? he said, listing the things he would be doing after stepping down. He added that he would spend more time with his wife of 56 years, Madam Carmee Lim, a former principal of Raffles Girls? School, and now adviser to early-childhood education specialist MindChamps. ?We were university classmates,? said Mr Lim with a smile. They have three daughters, ?all in the financial sector?, and four grandsons and four granddaughters who range in age from the mid-teens to the early 20s. ?They see me regularly. Every Friday is a family gathering,? he said, adding that there was ?full attendance? at these gatherings in the earlier years, but the younger members of the family later started to have ?their own programmes?. As for his corporate family? ?If I see something which I feel strongly enough about, I?ll drop a note. Whether anyone will listen and act is another thing,? he said. |
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Conman
Elite |
07-Mar-2023 20:28
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Must create an account with them so I will give it a miss 🙄
Zoom Bee will not recover because of the 4 challenges I listed out earlier unless it rejuvenate. Otherwise it will be like SPH still only printing and selling newspapers or Keppel still only building oil rigs and nothing else 🤣
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