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Latest Forum Topics / ComfortDelGro    Last:1.27    -0.01  Post Reply
COMFORT DELGRO - MOVING FORWARD
Entropy72
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06-Mar-2023 22:09     
 
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 Alert Admin 		Missing the point again, Conman. Zig starts off with CDG taxis as a base, but will serve increasingly more PHVs simply because customers prefer ride hailing to street hailing. It is not about saving taxis, as you always harp about.

Conman      ( Date: 06-Mar-2023 18:31) Posted:

Guru,

These talks only point to one fact : Taxis have lost their critical mass. And Zig is not even the answer, because any potential driver will not choose taxi based only on one factor, ie, Zig. There are many other more important factors for them to consider.

This explains why we do t see a signidicant increase of taxis on the road depite that Zig has been in existence for quite some time.

Wrong strategy to salvage taxis from extinction cannot even delay its death, not to say bringing back its past glory ☹

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Conman
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06-Mar-2023 18:31     
 
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 Alert Admin 		Guru,

These talks only point to one fact : Taxis have lost their critical mass. And Zig is not even the answer, because any potential driver will not choose taxi based only on one factor, ie, Zig. There are many other more important factors for them to consider.

This explains why we do t see a signidicant increase of taxis on the road depite that Zig has been in existence for quite some time.

Wrong strategy to salvage taxis from extinction cannot even delay its death, not to say bringing back its past glory ☹
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Entropy72
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06-Mar-2023 15:28     
 
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 Alert Admin 		While many of us agree that we are more familiar with Grab for booking of rides, it is also increasingly clear that Grab charges a premium as compared to CDG Zip.  This is not surprising as Grab is under pressured to turn cashflow positive for its shareholders, and needs to charge higher commission (20%) to do so.  Furthermore, Singapore govt has taken a lead in requiring platform providers to pay CPF for their driver partners - adding to their operational costs.   

As word of mouth spreads, and more people start using CDG Zip which charges only 5% commission, I expect CDG Zip market share will increase for both taxi and private hire vehicles (whether renting from CDG or not).  CDG is able to cross-sell EV charging, vehicle servicing as well as offer delivery jobs on its Zip platform to attract more drivers. Hope CDG management will start sharing CDG Zip progress in coming quarterly updates. 
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Entropy72
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06-Mar-2023 15:21     
 
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 Alert Admin

Death of street-hailing? ' Very hard' to hail a cab by the road now, say drivers and passengers



A recent survey by the Public Transport Council found that passengers' satisfaction with taxi and private-hire car services dropped in 2022, with  the score for wait time falling the most. 
Death of street-hailing? 'Very hard' to hail a cab by the road now, say drivers and passengers

A man flagging down a taxi in Singapore. (File photo: iStock/Koh Sze Kiat)
06 Mar 2023 06:00AM(Updated: 06 Mar 2023 11:30AM)
 


SINGAPORE: Taxi driver Chan Kim Min' s passenger waited 40 minutes at the taxi stand outside OG People' s Park before he happened to drive by. 

The passenger had not called for a cab, Mr Chan recounted to CNA about the passenger he picked up in February. It surprised the 67-year-old, who has been driving a ComfortDelGro taxi for 24 years, as he is used to accepting bookings from passengers who have called a cab or those that come in through his company' s booking app, CDG Zig.

" If you want to flag down a cab by the road nowadays, it' s very hard to get one," he said in Mandarin.

While his passenger did not express frustration at the long wait time, a  recent survey found that passengers' satisfaction with taxi and private-hire car services dropped in 2022, with  the score for wait time falling the most. 

Respondents in the Public Transport Council on customer satisfaction for point-to-point transport services survey were asked to indicate on a scale of one to 10 the importance of, and their satisfaction with, key service attributes, based on their most recent journey in a taxi or private-hire car.

The survey results released on Feb 6 found that satisfaction with taxi stand accessibility and waiting time scored the lowest at 7.6 and 7.1 respectively. 

 

HARDER TO GET A CAB



Passengers who still flag down taxis noted it is " impossible" to get a ride the conventional way, said those who spoke to CNA.

One passenger, Ms Natalie Pang, " very rarely takes cabs in the first place" , but if she does, she would wait by the road or at a taxi stand. 

The 35-year-old only turns to an app if she needs a cab late at night and uses the CDG Zig app exclusively. 

" (Hailing a cab on the) main road is impossible, but I once by chance managed to flag down one taxi in the last seven months," she said.

Another passenger, Ms Keryn Wai, added that while it is hard to hail a cab by the road, it is not any easier at a taxi stand as many drivers prefer passengers to have a booking.   

" I' ve been told by taxi uncles that (the number of taxis) reduced a lot since COVID, and that' s why there aren' t that many on the road now. A portion of those who are left are doing Grab, Gojek, Tada too. So they prefer to wait for business via the apps or even the ComfortDelGro bookings," the 31-year-old said. 



Mr Chan said that he would also share similar reasons with his passengers when they complain to him that it is increasingly difficult to flag down a cab. 

The shortage of drivers is  an industry-wide trend.  The number of monthly active point-to-point drivers fell from around 69,000 pre-pandemic to 55,000 in the last quarter of 2022, Senior Minister of State for Transport Amy Khor said in Parliament on Mar 3. 

The decline is steeper for taxi drivers, with about 9,000 fewer active drivers compared to pre-pandemic. Many drivers who left the industry were those driving night or weekend shifts,  she added.

The lack of drivers has thus resulted in high surge fares and longer waiting times, especially during the late evening or at night.

Ms Wai, who  used to take cabs at least two to three times a week, has since cut down to once a week at most. When she is running late, she waits by the roadside or a taxi stand while trying her luck on ride-hailing apps.



But most of the time, " the apps come through (with a ride) first" , she said.

FEWER PASSENGERS ALONG THE ROAD 



Even as street-hailing passengers struggle to get a ride, drivers, too, struggle to pick up passengers along the road.

Data from the Land Transport Authority  revealed a huge difference between the amount of street-hailing and ride-hailing trips over the last two years. 

The average daily number of ride-hail trips was about four times the average daily number of street-hail trips for each month in 2021, with this gap widening in 2022. 

In November 2021, for instance, the average number of daily street-hail trips was 112,000, compared to an average of 451,000 daily ride-hail trips. That same month in 2022, the average number of daily street-hail trips sunk to 97,000, while the average number of daily ride-hail trips jumped to 496,000. 

Those who flag down a taxi by the road are " usually above 50 years old" , pointed out Mr Chan.

" There is the occasional younger passenger, but they' re usually waiting at a taxi stand," he said, highlighting the passenger who had waited for 40 minutes.

Another driver, who only wanted to be known as Mr Chia, agreed that " very few flag down" his taxi these days. " Almost all use the (ComfortDelGro) app and phone," the 72-year-old said.

While fewer street-hailing passengers have not affected Mr Chia' s take-home salary much, Mr Chan has seen his pay dip by several hundred dollars a month. But the latter does not want to get onto ride-hailing apps, as there is " too much competition" there.

" I' m an old-timer already, I don' t want to fight with others. My salary will definitely be less (without a ride-hailing app), but I' ve accepted it," he said. 

SURGE PRICING 



Those who choose to hail a cab by the road, despite having ride-hailing apps installed on their phones, said the surge pricing on ride-hailing apps is a turn-off. 

Ms Wai once checked that a ride from Newton to Serangoon would have cost her S$22 to S$25 on a ride-hailing app during peak hour. In the end, she hailed a taxi along the street for S$12.

" The ride-hailing apps have been more expensive recently, with Grab being the worst. There is almost always a surge pricing, 30 to 80 per cent more than the usual. The few times I managed to flag down a cab, it' s 30 per cent cheaper than any of the (ride-hailing) apps," she said. 

" And it' s one thing to be expensive, but by the time I finally get a taxi or a ride via the apps during (peak hour) timings, I could have just taken public transport. It' s even worse when it' s raining," she added. 

Ms Pang only uses the CDG Zig app and is not on other ride-hailing platforms. 

" I think I downloaded the Grab app in 2020 only. And when I  used it, the prices were always higher than ComfortDelGro and (the ride was) always slower to arrive," she said. 

Likewise,  Mrs Diane Tan, a 32-year-old mother, estimated the wait time for a Grab ride to be longer than hailing a cab along the main road or at a taxi stand these days.

While she tries to use public transport as much as possible and hardly uses ride-hailing apps anymore due to inflation, she noted that when there is a price surge on these apps and it is not during peak hour, taking a " normal cab might be cheaper" . 

" Anyway, things like (the availability of) e-payments are no longer differentiating factors, because if I flag down a cab, I can still pay by card and so on," she added. 
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Conman
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06-Mar-2023 09:08     
 
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 Alert Admin 		The more important question to ask is whether these things can make money or it is better to put the money in banks to earn interest

vicloo      ( Date: 04-Mar-2023 16:16) Posted:

And go see Comfortdelgro website, more than half of its UK business is on Coach and buses, only half or less is taxi business.

Entropy72      ( Date: 03-Mar-2023 00:11) Posted:

60% of revenues from Singapore, not 30%. Don't twist and turn to embarrass yourself further. You already have no credibility. I only expose you so that you don't misleading with wrong "facts"
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Neutral_Guy
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05-Mar-2023 10:32     
 
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 Alert Admin 		Yes. Sure, some people will be lazy type. So same for stocks, some lazy to analysis and end up losing more. At least we analysis here, we can cut down the risk(no one can predict 100%if stock will go up or down). Cheers and will load up more here. Have a great Sunday.

ahbui8      ( Date: 04-Mar-2023 23:31) Posted:

Many are  lazy. Many will still book for Grab, just like using food delivery services.

Neutral_Guy      ( Date: 04-Mar-2023 15:35) Posted:

Yes, i agreed with you too i also recently took a taxi(hailed from road side)from Yishun to Sin Min road, it cost only$17. If book grab, it cost about $25. Grab drivers want to earn more by driving PHV, but we, consumers, also not stupid and want to save more. Unless the place you are, very difficult to get taxis, else most people will still save more by hailing taxis by the road side. So eventually if driving Grab got lesser business, drivers will switch back to taxis. And vice versa. So it is very dependent on Grab and taxi companies strategies. Now i think traditional taxis is on the winning side.
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ahbui8
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04-Mar-2023 23:31     
 
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 Alert Admin 		Many are  lazy. Many will still book for Grab, just like using food delivery services.

Neutral_Guy      ( Date: 04-Mar-2023 15:35) Posted:

Yes, i agreed with you too i also recently took a taxi(hailed from road side)from Yishun to Sin Min road, it cost only$17. If book grab, it cost about $25. Grab drivers want to earn more by driving PHV, but we, consumers, also not stupid and want to save more. Unless the place you are, very difficult to get taxis, else most people will still save more by hailing taxis by the road side. So eventually if driving Grab got lesser business, drivers will switch back to taxis. And vice versa. So it is very dependent on Grab and taxi companies strategies. Now i think traditional taxis is on the winning side.

GoldenPig      ( Date: 04-Mar-2023 11:14) Posted:

Just to share some cost comparisons from my last taxi trip.
From cheapest to most expensive :
street hail taxi -> zig metered taxi -> zig PHV -> grab PHV

Think I' ll stick to street hire taxi whenever possible.
For locations difficult to get street hire, I' ll use zig to book a taxi.
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vicloo
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04-Mar-2023 16:16     
 
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 Alert Admin 		And go see Comfortdelgro website, more than half of its UK business is on Coach and buses, only half or less is taxi business.

Entropy72      ( Date: 03-Mar-2023 00:11) Posted:

60% of revenues from Singapore, not 30%. Don't twist and turn to embarrass yourself further. You already have no credibility. I only expose you so that you don't misleading with wrong "facts".

Conman      ( Date: 02-Mar-2023 23:14) Posted:

How you interprete this? Singapore although constitutes 30% of Zoom Bee's business contributes 60% of its business
revenue. Can or not?

You must remember that SBST is only a contractor who doesnt own the public bus and train business it operates. The State owns the businesses and the assets.


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vicloo
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04-Mar-2023 16:12     
 
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 Alert Admin 		What is zoom bee?

Conman      ( Date: 04-Mar-2023 12:57) Posted:

Cheap fare is exactly why taxis lost the fight with PHVs. Imagine yourself going to drive, would you like to earn high fares or low fares?

This is a push factor causing Zoom Bee to lose more than 10,000 taxis over the last 10 years from the time PHVs were bor .



GoldenPig      ( Date: 04-Mar-2023 11:14) Posted:

Just to share some cost comparisons from my last taxi trip.
From cheapest to most expensive :
street hail taxi -> zig metered taxi -> zig PHV -> grab PHV

Think I' ll stick to street hire taxi whenever possible.
For locations difficult to get street hire, I' ll use zig to book a taxi.
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Neutral_Guy
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04-Mar-2023 15:35     
 
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 Alert Admin 		Yes, i agreed with you too i also recently took a taxi(hailed from road side)from Yishun to Sin Min road, it cost only$17. If book grab, it cost about $25. Grab drivers want to earn more by driving PHV, but we, consumers, also not stupid and want to save more. Unless the place you are, very difficult to get taxis, else most people will still save more by hailing taxis by the road side. So eventually if driving Grab got lesser business, drivers will switch back to taxis. And vice versa. So it is very dependent on Grab and taxi companies strategies. Now i think traditional taxis is on the winning side.

GoldenPig      ( Date: 04-Mar-2023 11:14) Posted:

Just to share some cost comparisons from my last taxi trip.
From cheapest to most expensive :
street hail taxi -> zig metered taxi -> zig PHV -> grab PHV

Think I' ll stick to street hire taxi whenever possible.
For locations difficult to get street hire, I' ll use zig to book a taxi.
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Conman
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04-Mar-2023 12:57     
 
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 Alert Admin 		Cheap fare is exactly why taxis lost the fight with PHVs. Imagine yourself going to drive, would you like to earn high fares or low fares?

This is a push factor causing Zoom Bee to lose more than 10,000 taxis over the last 10 years from the time PHVs were bor .



GoldenPig      ( Date: 04-Mar-2023 11:14) Posted:

Just to share some cost comparisons from my last taxi trip.
From cheapest to most expensive :
street hail taxi -> zig metered taxi -> zig PHV -> grab PHV

Think I' ll stick to street hire taxi whenever possible.
For locations difficult to get street hire, I' ll use zig to book a taxi.
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Conman
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04-Mar-2023 11:53     
 
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 Alert Admin 		Autonomous taxis will remain a dream until it cost lower or at least the same as normal taxis and the fares can go lower than the normal taxis. Dont forget PHVs although higher in fares now can go very low just to compete since the drivers can use their own cars and need not rent.

The sum has to be worked out to see whether it is feasible before you blow trumpet Gueu.

Entropy72      ( Date: 04-Mar-2023 09:52) Posted:

The platform is more important than the rental fleet in the long run. Autonomous taxis will replace the need to look for taxi drivers to rent their cars anyway. Hence the need to invest in Zig to cross sell and have wider customer outreach.

In the short term, there is upside due to impending end of discounts for rental and the room to increase platform fee (5% vs Gojek 15% / Grab 20%).


Conman      ( Date: 04-Mar-2023 09:00) Posted:

I think investors are more concerned about the declining size of its taxi fleet more than how it can squeeze money out from its small numbers of taxis. When it is left with only 1 taxi on the road, lets see whether it will still divert our attention to how good its Zig is
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GoldenPig
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04-Mar-2023 11:14     
 
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 Alert Admin 		Just to share some cost comparisons from my last taxi trip.
From cheapest to most expensive :
street hail taxi -> zig metered taxi -> zig PHV -> grab PHV

Think I' ll stick to street hire taxi whenever possible.
For locations difficult to get street hire, I' ll use zig to book a taxi.
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Entropy72
Master
04-Mar-2023 09:52     
 
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 Alert Admin 		The platform is more important than the rental fleet in the long run. Autonomous taxis will replace the need to look for taxi drivers to rent their cars anyway. Hence the need to invest in Zig to cross sell and have wider customer outreach.

In the short term, there is upside due to impending end of discounts for rental and the room to increase platform fee (5% vs Gojek 15% / Grab 20%).


Conman      ( Date: 04-Mar-2023 09:00) Posted:

I think investors are more concerned about the declining size of its taxi fleet more than how it can squeeze money out from its small numbers of taxis. When it is left with only 1 taxi on the road, lets see whether it will still divert our attention to how good its Zig is.

Entropy72      ( Date: 04-Mar-2023 05:59) Posted:

Source: The Edge

As taxi drivers have been slow to take back the wheel, demand for both taxis and private hire vehicles (PHVs) has outpaced supply. ?As you know, the rents [for taxis and PHVs] have been discounted for some time because of Covid-19, but Covid-19 is pretty much over,? says group deputy CEO Derek Koh. ?We have maintained the discount for now because last year was a challenging year? and we are hoping to also attract more people to come back.?

CDG chairman Lim Jit Poh acknowledges that the demand for taxis now is more than what the group can handle. At this point, Lim, who is due to retire from his position after the company?s AGM this April, shares that street-hailing taxis are still significant today and about 50% of the taxi bookings are from street hailing, while the rest are through its mobile app and phone bookings.

....

Ong expects the taxi segment to be the bright spot in FY2023, with an ebit growth of 39% seen for the current FY2023. He warns, however, that the driver supply for taxis and ride-hailing remains tight and is unlikely to ease in the near term due to high certificate of entitlement prices.

?Coupled with the healthy competitive landscape (with private hire platforms focusing on the path to profitability), we believe CDG has an opportunity to further raise monetisation of its app platform, either through a commission rate increase or implementation of platform fees,? says Ong, while noting that CGS charges 5% in commission fee for app bookings, as compared to Gojek?s 15% and Grab Holdings? 20%.

...

To stem declining taxi rental income, CDG has introduced booking commissions on its re-launched ride-hailing platform app, Zig.

CDG?s Koh shares that the company is in the process of upgrading Zig and plans to push out the upgrades by the middle of this year. The upgraded platform will allow users to book their choice of taxis, PHVs or luxury cars. Koh also shared that while 50% of the taxi jobs come through street hailing, the other 50% are through booking, of which 85% of the bookings come from the Zig app.

?With full re-opening, we expect revenue growth of 4.3%, mostly coming from taxi segments,? says Sim.

There are some investors who see CDG as a business suffering from structural decline with the taxi fleet dropping steadily. Nonetheless, Sim sees ?significant upside headroom? with its commission level of 5% versus the 20% charge by Grab. ?In addition, with full re-opening, we see a profit upside of about $17 million from the reversal of rental discounts in China and Singapore, giving us confidence that the odds are in favour of CDG being a value play,? says Sim.



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Conman
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04-Mar-2023 09:00     
 
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 Alert Admin 		I think investors are more concerned about the declining size of its taxi fleet more than how it can squeeze money out from its small numbers of taxis. When it is left with only 1 taxi on the road, lets see whether it will still divert our attention to how good its Zig is.

Entropy72      ( Date: 04-Mar-2023 05:59) Posted:

Source: The Edge

As taxi drivers have been slow to take back the wheel, demand for both taxis and private hire vehicles (PHVs) has outpaced supply. ?As you know, the rents [for taxis and PHVs] have been discounted for some time because of Covid-19, but Covid-19 is pretty much over,? says group deputy CEO Derek Koh. ?We have maintained the discount for now because last year was a challenging year? and we are hoping to also attract more people to come back.?

CDG chairman Lim Jit Poh acknowledges that the demand for taxis now is more than what the group can handle. At this point, Lim, who is due to retire from his position after the company?s AGM this April, shares that street-hailing taxis are still significant today and about 50% of the taxi bookings are from street hailing, while the rest are through its mobile app and phone bookings.

....

Ong expects the taxi segment to be the bright spot in FY2023, with an ebit growth of 39% seen for the current FY2023. He warns, however, that the driver supply for taxis and ride-hailing remains tight and is unlikely to ease in the near term due to high certificate of entitlement prices.

?Coupled with the healthy competitive landscape (with private hire platforms focusing on the path to profitability), we believe CDG has an opportunity to further raise monetisation of its app platform, either through a commission rate increase or implementation of platform fees,? says Ong, while noting that CGS charges 5% in commission fee for app bookings, as compared to Gojek?s 15% and Grab Holdings? 20%.

...

To stem declining taxi rental income, CDG has introduced booking commissions on its re-launched ride-hailing platform app, Zig.

CDG?s Koh shares that the company is in the process of upgrading Zig and plans to push out the upgrades by the middle of this year. The upgraded platform will allow users to book their choice of taxis, PHVs or luxury cars. Koh also shared that while 50% of the taxi jobs come through street hailing, the other 50% are through booking, of which 85% of the bookings come from the Zig app.

?With full re-opening, we expect revenue growth of 4.3%, mostly coming from taxi segments,? says Sim.

There are some investors who see CDG as a business suffering from structural decline with the taxi fleet dropping steadily. Nonetheless, Sim sees ?significant upside headroom? with its commission level of 5% versus the 20% charge by Grab. ?In addition, with full re-opening, we see a profit upside of about $17 million from the reversal of rental discounts in China and Singapore, giving us confidence that the odds are in favour of CDG being a value play,? says Sim.


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Conman
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04-Mar-2023 08:36     
 
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 Alert Admin 		Correction : Amy Khor
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Conman
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04-Mar-2023 08:13     
 
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 Alert Admin 		According to Senior Minister of State for Transport Dr Amy Kgor in the Budget Debate, compared to Pre-Covid, PHVs and Taxis have lost 14,000 active drivers, of which 9,000 are taxi drivers (mainly relief drivers).
Source : ZaoBao 4 Mar 2023 p.7
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Entropy72
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04-Mar-2023 05:59     
 
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 Alert Admin 		Source: The Edge

As taxi drivers have been slow to take back the wheel, demand for both taxis and private hire vehicles (PHVs) has outpaced supply. ?As you know, the rents [for taxis and PHVs] have been discounted for some time because of Covid-19, but Covid-19 is pretty much over,? says group deputy CEO Derek Koh. ?We have maintained the discount for now because last year was a challenging year? and we are hoping to also attract more people to come back.?

CDG chairman Lim Jit Poh acknowledges that the demand for taxis now is more than what the group can handle. At this point, Lim, who is due to retire from his position after the company?s AGM this April, shares that street-hailing taxis are still significant today and about 50% of the taxi bookings are from street hailing, while the rest are through its mobile app and phone bookings.

....

Ong expects the taxi segment to be the bright spot in FY2023, with an ebit growth of 39% seen for the current FY2023. He warns, however, that the driver supply for taxis and ride-hailing remains tight and is unlikely to ease in the near term due to high certificate of entitlement prices.

?Coupled with the healthy competitive landscape (with private hire platforms focusing on the path to profitability), we believe CDG has an opportunity to further raise monetisation of its app platform, either through a commission rate increase or implementation of platform fees,? says Ong, while noting that CGS charges 5% in commission fee for app bookings, as compared to Gojek?s 15% and Grab Holdings? 20%.

...

To stem declining taxi rental income, CDG has introduced booking commissions on its re-launched ride-hailing platform app, Zig.

CDG?s Koh shares that the company is in the process of upgrading Zig and plans to push out the upgrades by the middle of this year. The upgraded platform will allow users to book their choice of taxis, PHVs or luxury cars. Koh also shared that while 50% of the taxi jobs come through street hailing, the other 50% are through booking, of which 85% of the bookings come from the Zig app.

?With full re-opening, we expect revenue growth of 4.3%, mostly coming from taxi segments,? says Sim.

There are some investors who see CDG as a business suffering from structural decline with the taxi fleet dropping steadily. Nonetheless, Sim sees ?significant upside headroom? with its commission level of 5% versus the 20% charge by Grab. ?In addition, with full re-opening, we see a profit upside of about $17 million from the reversal of rental discounts in China and Singapore, giving us confidence that the odds are in favour of CDG being a value play,? says Sim.

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Neutral_Guy
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03-Mar-2023 22:51     
 
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 Alert Admin 		Comfort also have PHV rentals. So both taxis and phv also can make money especially when COE is super high. Just my thinking.

Conman      ( Date: 03-Mar-2023 00:10) Posted:

The problem at present is not the passengers but not many want to drive taxis. The reasons why I will not advise because I am not paid to.

But as time goes by, more and more passengers will turn to PHVs and cause taxis to lose business because taxis have lost its critical mass and people will find them almost impossible to obtain. When that happens even less people will want to drive taxis.

Neutral_Guy      ( Date: 02-Mar-2023 21:06) Posted:

I guess when COE prices are so high. More people will take taxi or public transport. Talk to taxi drivers, they say business is much better now after Grab increses prices. Hope this will help ComfortDelGro too .
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Conman
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03-Mar-2023 07:47     
 
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 Alert Admin 		Wise man think alike.

Unfortunately most have their eyes blind-folded to buy more and more just because they want to fight me.

mrwise      ( Date: 03-Mar-2023 01:00) Posted:

Trend is down!!

Look for better counter!!!

Maybe $1 and lesser by year end....
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