| Latest Forum Topics / ComfortDelGro Last:1.29 -- |
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COMFORT DELGRO - MOVING FORWARD
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Entropy72
Master |
13-Aug-2024 00:12
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Substantial shareholder Silchester bought 2300 lots at average $1.377 to bring its holdings to 8.1%.
1H24 results should be out this week. |
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MrBear12
Supreme |
02-Aug-2024 08:08
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Company looking good! Will be coming back to Singapore to experience the better transport services. |
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Joelton
Supreme |
02-Aug-2024 08:05
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ComfortDelGro inks MOU with Pony.ai on commercial robotaxi operations in China
This comes after the transport operator established a S$30 million Autonomous Vehicle Centre of Excellence in 2022
 
COMFORTDELGRO on Wednesday (Jul 31) signed a memorandum of understanding (MOU) with autonomous mobility company Pony.ai to form a strategic partnership for large-scale commercial robotaxi operations in China.
 
The tie-up aims to help both companies co-develop safe and sustainable autonomous vehicle (AV) solutions to be deployed globally, after commercialising robotaxi operations in the Chinese market.
 
Pony.ai received permits to operate fully autonomous driving mobility services in China&rsquo s Tier-1 cities, such as Beijing, Shanghai, Guangzhou and Shenzhen.
 
It also initiated partnerships and technological deployment in South Korea, Luxembourg, Saudi Arabia and the United Arab Emirates. 
 
Group chief executive of ComfortDelGro Cheng Siak Kian said the company expects AV technology to alleviate global driver shortage and meet transport demand in underserved areas. 
 
This comes after ComfortDelGro established a S$30 million Autonomous Vehicle Centre of Excellence in 2022, as part of its wider growth strategy. It also has an international taxi network of more than 29,000 vehicles worldwide.
The centre focuses on &ldquo developing capabilities for AV operations, maintenance, and building a technology platform for future AV-based mobility services&rdquo , the company noted. 
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Entropy72
Master |
31-Jul-2024 08:35
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Good news for CDG and SBS Transit
??? SINGAPORE: Enhancements to the bus service network to the tune of up to S$900 million (US$670 million) will be rolled out over the next eight years starting from September, the Land Transport Authority (LTA) announced on Tuesday (Jul 30). Enhancements will include express feeder bus services with fewer intermediate stops and more bus services in new estates. |
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Joelton
Supreme |
29-Jul-2024 10:16
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For ComfortDelGro, transition to cleaner energy vehicles will be a &lsquo game changer&rsquo
The land transport operator is switching its fleet of over 40,000 vehicles in 12 countries to cleaner ones as part of sustainability drive, says chief sustainability and risk officer Jonathan Jong
 
FOR ComfortDelGro to reach its sustainability goals, the journey is as important as the destination.
 
&ldquo Many companies have made commitments or statements about their decarbonisation targets, but lack the details on how to get there. To us, that is not a recipe for success,&rdquo says group chief sustainability and risk officer Jonathan Jong. 
 
Since the land transport operator launched its first sustainability report in 2015, it has set itself the difficult task of collecting data and setting realistic goals.
 
The result: It was one of the first transport operators in Asia-Pacific to have its greenhouse gas emissions reduction goals approved by the Science Based Targets Initiative, considered the gold standard for corporate decarbonisation targets.
 
In its journey to achieve net-zero emissions by 2050, it has set targets to reduce its absolute Scope 1 and 2 emissions by 54.6 per cent, and a 61.2 per cent reduction in absolute Scope 3 emissions from fuel and energy-related activities, both by 2032 and compared to a 2019 baseline. 
 
The engine to realise these ambitions: transitioning its vehicles to cleaner energy ones.
 
It already uses electric power for all its rail operations, and is transitioning its car and bus fleets to cleaner energy ones: from 59 to 90 per cent by 2030, and 100 per cent by 2040 for cars and taxis and from 13 to 50 per cent by 2030 and 100 per cent by 2050 for buses.
 
While it is also investing in solar power and other sustainability measures, the move to more eco-friendly vehicles will yield the largest impact.
 
Jong explains: &ldquo We operate in 12 countries with a total fleet of over 40,000 vehicles spanning taxis, buses, trains and more. Our global reach and scale mean the choices we make about our vehicles have a significant impact on our carbon footprint, which is why prioritising cleaner energy options is central to our environmental strategy.&rdquo
 
He adds that with transport accounting for a quarter of all energy-related greenhouse gas emissions, and land transport contributing the lion&rsquo s share, the company has a social responsibility to switch to cleaner energy vehicles.
 
&ldquo We want to be both profitable and socially responsible, and we believe that this will make us more attractive to investors, clients and commuters,&rdquo he says.
 
Many roads to sustainability
With ComfortDelGro operating in diverse countries and typically providing public transport as part of its service, it is calibrating its fleet transition based on the individual markets.
 
&ldquo We have to pace ourselves to match the regulatory landscape of the various jurisdictions, while meeting the specific needs and desires of our clients, including local governments,&rdquo Jong shares.
 
In China, close to 70 per cent of its cars are electric vehicles, partly due to many of the cities&rsquo mandates that all newly registered or replacement taxis have to be fully electric vehicles.
 
&ldquo Among our global operations, our China business has the largest electric taxi fleet. We have also started implementing electric vehicle charging and battery swapping for a few years now,&rdquo says Jong.
 
In the UK, where buses are the most popular mode for public transport, its public bus fleet is the most advanced in its transition amid its global operations. More than 56 per cent of its buses there are cleaner energy. Since 2021, it has also operated hydrogen-fuelled double-decker buses, which were the first of their kind in Britain, as part of a pilot project with Transport for London.
 
ComfortDelGro is also one of the greenest bus operators in Australia, where it rolled out its 50th hybrid bus in 2023, and has formed partnerships to trial electric and hydrogen-powered buses.
 
Jong says: &ldquo Australia&rsquo s longer route distances, particularly for buses, pose a challenge for widespread electric vehicle adoption due to limited electric bus range compared to urban environments like London. In this context, hydrogen buses, with its potential for faster refuelling and extended range, might be a more appropriate alternative.&rdquo
 
In Singapore, where the group is headquartered, its commitment to vehicle electrification has gone far beyond investing in electric cars and buses.
 
It has added electric cars into the training vehicle fleet for its driving school business, and introduced Singapore&rsquo s first electric motorcycle familiarisation course. Through a joint venture with French utility firm Engie, it is also expanding the nation&rsquo s electric vehicle charging and solar infrastructure.
 
Jong explains: &ldquo When we decided to shift to electric taxis, it was crucial to ensure adequate charging infrastructure. We proactively installed fast charging facilities at our existing fuel stations to support our cabbies with convenient charging locations. Now, with the Singapore government awarding contacts to install and run charging points, we have the experience to participate in some of these opportunities too.&rdquo
 
Journeying with the community
As ComfortDelGro continues its sustainability drive, it is also giving back to society. In 2023, it deepened its engagement with the communities it serves, donating S$1.5 million in cash and nearly S$3 million of donations in kind. Its employees also collectively accumulated over 9,600 hours of volunteer work.
 
Jong shares: &ldquo One of the things that we do is ferry kids and adults with disabilities to and from events. A lot of this support is offered by our ComfortDelGro MedCare business, which is a point-to-point transport service specially adapted to the needs of those with disabilities, and the elderly who may require help to get around.&rdquo
 
Moreover, ComfortDelGro donates its buses that are at the end of their lifespan to schools and healthcare institutions.
 
&ldquo They use the vehicles to demonstrate how passengers with mobility challenges can board the bus. This is valuable because even though all of our buses and trains are accessible, some people may not know how to use the accessibility features.&rdquo
 
He adds: &ldquo We also provide training to our taxi and bus drivers on how to assist people with mobility difficulties. These are the sorts of things that may not make the headlines, but go a long way in fostering a more inclusive culture and community. The way we think of it is, we are in the business of serving communities, and that to us means making our facilities and services accessible to everyone.&rdquo
 
Jong notes that, in Singapore especially, ComfortDelGro is a familiar and longstanding part of many people&rsquo s lives.
 
&ldquo When you or your children were born, if your family didn&rsquo t have a car, it was likely one of our taxis that took you home because we have the largest taxi fleet. Our taxis or the school buses operated by our subsidiaries may have taken you to and back from school.
 
&ldquo When you start your career, there&rsquo s a high chance you&rsquo ll use our trains, taxis and buses to get to work and go home. When you get older, if you need help, there&rsquo s ComfortDelGro MedCare. We&rsquo re there for people from the day they are born to their golden years. Not many companies can say that, but we can.&rdquo  
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Asdfgh101
Member |
25-Jul-2024 22:42
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Chains removed..next goal is to get back into STI: SINGAPORE: A deal for ride-hailing platform Grab to take over taxi operator Trans-cab will no longer go ahead, said Singapore's competition watchdog on Thursday (Jul 25). The Competition and Consumer Commission of Singapore (CCCS) said it was notified by Grab and Trans-cab on Monday that the two parties would not be proceeding with the proposed acquisition. CCCS started an in-depth review of the deal in January after an initial review had found that the tech firm?s proposed acquisition might create barriers for rival platforms. The proposed acquisition was first announced last July. The watchdog said earlier this month that drivers and passengers could face higher prices if competition constraints on Grab from rival platforms are weakened. ?With the termination of the proposed acquisition, the parties have withdrawn their application to CCCS for a decision, and CCCS has accordingly ended its assessment of the proposed acquisition,? said the competition watchdog on Thursday. It added that Grab and Trans-cab ?expressed their respect for the regulatory process and their appreciation to CCCS for the thorough review?. | ||
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TikTalk
Supreme |
24-Jul-2024 11:02
Yells: "Anyone miss me?" |
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Body kut kut, engine gud gud, sibei ho loot, prices also patoot
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beetlejuice
Master |
24-Jul-2024 10:40
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With a wonderful business, you can figure out WHAT will happen. You can't figure out WHEN it will happen. You don't want to focus on WHEN, you want to focus on WHAT. If you are right about WHAT, you don't have to worry about WHEN.
The big money is always in the waiting. 💰 💰
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Entropy72
Master |
24-Jul-2024 10:17
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We just need to check CDG fundamentals are intact and improving. Enjoy dividends while we patiently wait for the run up. Look at other counters meanwhile.
SingTel is one such example. |
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Speediman
Veteran |
24-Jul-2024 09:10
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CDG is truely slow!  Being one of the last to report earnings... share price is often caught in sell off mode towards the end of earnings buzzing activities.  |
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Asdfgh101
Member |
24-Jul-2024 08:06
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By right should see a semblance of a reply from Grab this week, anyway about time CDG reduce its revenue reliant on taxi services...slowest mover after singtel but hope like singtel it can break 150 in the coming months | ||
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Entropy72
Master |
23-Jul-2024 14:25
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Likely no go based on Competition Commission assessment.
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Asdfgh101
Member |
23-Jul-2024 09:17
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Anyone knows if Grab taking over Transcab has been legally approved? | ||
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MambaFinancial89
Veteran |
22-Jul-2024 17:29
Yells: "Be greedy when others are fearful. " |
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DBS: ComfortDelGros SBSTransit retains Seletar Bus Package with SGD526m tender value SBSTransit retains Seletar bus package with a SGD526 million contract value to operate for the next five years from Mar 2025, with an option for a two- to five-year extension.  Package win reaffirms SBSTransits position as the incumbent bus operator with 8 bus packages out of a total 14 in Singapore Removes near term concern that incumbent position could be undermined Maintain BUY, TP: SGD1.80 Whats new? SBSTransit retains Seletar Bus contract with a bid of SGD526m. The Land Transport Authority (LTA) has awarded a SGD526 million contract to SBS Transit Ltd (SBST), a subsidiary of ComfortDelGro, for the Seletar bus package, which includes 29 routes and the management of Ang Mo Kio and Yio Chu Kang Bus Interchanges. A total of five companies bid for the contract, with nine tenders submitted and contract values ranging from SGD520 million (Tower Transit) to as high as SGD612 million (Bravo Transport from Hong Kong). The other bidders were SMRT Buses and New Continental from Spain. SBST was selected through a two-envelope tender process that evaluated both quality and price. Their proposal included initiatives to enhance the public bus industry, such as an electric bus training center and smart systems for improved productivity and sustainability. SBST also proposed an inclusive transport experience with a sign language virtual assistant and school-friendly bus service. Our views Reaffirms SBSTransits position as the incumbent bus operator. SBSTransit is the incumbent operator for the Seletar Bus Package and was the previous winner with the lowest bid at a contract value of SGD480.3 million for the current existing contract period from 2018 to 2025. This contract was first awarded on a negotiated basis for a two-year term in 2016, when the public bus system transitioned into the bus contracting model. In August 2023, when the tender results for two contracts &ndash Bukit Merah Bus Package and Jurong West Bus Package &ndash was announced, SBSTransit retained only the former but lost the Jurong West Package to SMRT Buses. With the retention of this bus package, SBSTransit will operate eight of 14 bus packages, with SMRT Buses, Tower Transit, and Go-Ahead operating three, two, and one, respectively. The continuation of the contract for the Seletar Bus Package should remove any near-term concerns that SBSTransits position as the incumbent public bus operator is being undermined.  We maintain our BUY rating with an unchanged target price of SGD1.80 for ComfortDelGro.  We look forward to its upcoming 1H24 results, expected in the evening of August 14th, and hope to see sequential q/q and y/y improvement in its profits on the back of better margins in its UK contracts, higher fares and ridership, and contributions from recent acquisitions, which should more than mitigate higher costs. |
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Speediman
Veteran |
20-Jul-2024 13:48
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SBS Transit to continue operating bus services from Seletar depot until at least 2030Good news! Hopefully BB is now convinced to put it in the 1.5 - 1.7 range |
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Asdfgh101
Member |
16-Jul-2024 17:17
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Should rebound nicely once Grab is unable to takeover transcab plus a good set of results with nice dividends | ||
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Entropy72
Master |
11-Jul-2024 21:51
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Grab's Singapore taxi takeover may violate competition law: watchdog
Antitrust authority says merger will 'significantly weaken' rival platforms TSUBASA SURUGA, Nikkei staff writer July 11, 2024 22:08 JST SINGAPORE ? Ride-hailing company Grab?s plan to buy Singapore?s third-largest taxi operator will ?significantly reduce? competition between rival platforms and strengthen its dominant market position, the city-state?s competition watchdog said on Thursday. In a provisional decision, the Competition and Consumer Commission of Singapore said the takeover is ?likely to entrench and strengthen? Grab?s already dominant position and reduce competition in the ride-hailing market, infringing the law that prohibits anti-competitive mergers. The CCCS said Grab and local taxi company Trans-cab have 10 working days to offer solutions to address the competition concerns raised before the antitrust makes its final decision to block or clear the deal. The statement follows Grab?s announcement in July 2023 that it had signed an agreement for its car rental unit to acquire local taxi company Trans-cab for an undisclosed sum, subject to regulatory approval, in what would be its first acquisition of a local taxi operator. The CCCS raised competition concerns in October 2023 after its initial review. ?This ruling does not change our determination to do everything that we can to offer affordable, reliable transport options to passengers in Singapore,? Yee Wee Tang, Grab Singapore?s managing director, said in a statement. ?Consumers will still be able to access both private hire and taxis from multiple taxi companies via the Grab app,? Tang said. In operation since 2003, Trans-cab is the third-largest taxi company in Singapore. ComfortDelGro, the largest operator, has around 60% of the market with a fleet of about 9,000 vehicles, followed by Strides, which is part of SMRT, the leading multi-modal public transport operator. According to Grab and Trans-cab, the proposed acquisition would include the company?s 2,500 taxis and private-hire vehicles, as well as its maintenance workshop and fuel pump operations. Under Singapore?s regulations, licensed ride-hailing operators like Grab are prohibited from making exclusive arrangements that prevent their driver partners from working for a rival platform. Grab already has partnerships with multiple taxi firms like Trans-cab and Strides. Yet, the CCCS said Grab has a dominant position in the ride-hailing market, and while this is not prohibited, ?mergers that protect, enhance or perpetuate the dominant position in ways unrelated to competitive merit can be anti-competitive,? it said. ?The proposed acquisition will significantly weaken Grab?s rival ride-hailing platforms by depriving them of an important source of drivers,? the CCCS said. It added that analyzed data indicated drivers who rent from ride-hailing companies tend to use that platform more than those who do not rent such vehicles. ?There are also various strategies which may be employed by Grab to induce Trans-cab drivers to increase their usage of Grab?s ride-hail platform,? the CCCS said. It added that rivals? access to Trans-cab drivers could be significantly restricted, resulting in higher fares and fewer choices for ride-hailing services. Meanwhile, the CCCS said Grab recognized that it will likely be able to save significantly on the incentives paid to drivers as compared to alternative means to increase the supply of drivers. |
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Entropy72
Master |
09-Jul-2024 00:28
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Singapore to host Southeast Asia's largest EV charging hub Keppel unit to operate new facility for buses, taxis and passenger cars TSUBASA SURUGA, Nikkei staff writer July 8, 2024 16:54 JST SINGAPORE ? Volt Singapore, a unit of Singaporean asset manager Keppel, will build an electric vehicle fast-charging hub in the city-state to serve both commercial and passenger cars, the company announced Monday. Hosting up to 80 charging points for buses, taxis, privately owned cars and other EVs, the new hub will be the largest public fast-charging facility at a single site in Southeast Asia, the company said. According to the announcement, Volt was awarded a contract to deploy and operate the EV charging hub for up to 15 years by a company under Singapore?s largest taxi operator, ComfortDelGro, which also owns the city-state?s biggest public bus operator, SBS Transit. The companies did not disclose the value of the contract. The first phase is expected to be operational in the first half of 2026. The new hub in western Singapore will have charging points with 360 kilowatt and 120 kW ratings, with charging times for electric cars as fast as 10 minutes, Volt said. The project comes as Singapore seeks to phase out internal combustion engine vehicles by 2040. EVs accounted for about one in three new cars registered in the city-state from January to May, nearly double the 2023 figure of 18.1%, according to the government. ?Volt looks forward to supporting the transition to EVs, especially for commercial fleets and electric buses to reduce emissions, promoting sustainable transportation,? Volt Executive Director Lim Yong Wei said in a statement. Volt is a joint venture between Keppel Infrastructure and Wanbang Digital Energy, one of the largest EV charging point suppliers and operators in China. Last month, the company also won a contract with a subsidiary of the Land Transport Authority to deploy public fast-charging points across the city-state. Singapore has also been pushing for greener mobility in commercial transport. By 2030, ComfortDelGro is aiming to transition 90% of its car fleet and 50% of its buses to cleaner energy vehicles, including fully electric and hybrid models. Meanwhile, Singapore-based Grab has pledged to replace its ride-hailing fleet in the city-state with low-emission vehicles by 2030, as part of its effort to achieve carbon neutrality by 2040. The number of EV chargers in Singapore is expected to reach 60,000 by 2030 from over 7,100 charging points today. |
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MambaFinancial89
Veteran |
08-Jul-2024 17:32
Yells: "Be greedy when others are fearful. " |
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UKs Labour win a multi-year tailwind for CDG, says CGS International With expectations of higher earnings, CGS International analyst Ong Khang Chuen has kept his ADD call on ComfortDelGro with an unchanged target price of $1.70. His target price is based on 16.2 times FY2025 price-to-equity ratio (P/E), at 0.5 standard deviations (s.d.) above CDs five-year historical average. We think the Labour Partys win in the UK General Election reaffirms our view that there will be ample new bus tender opportunities in the UK over the next five years, says Ong in his July 5 report. According to CGSIs UK transport analyst, Gerald Khoo, the Labour party has long hinted at its preference for the re-regulation of local bus services outside of London, and the partys manifesto included plans for devolved transport responsibilities to mayors to create unified and integrated transport systems, and to empower them to franchise bus services.  Greater Manchester pioneered the switch to a bus franchising model in FY2023, and we estimate ComfortDelGros UK-subsidiary Metroline won around 30% of tendered bus routes despite no prior presence in the city, writes Ong. We see more tender opportunities worth GBP1.2 billion to GBP1.4 billion ($2.1 billion to $2.4 billion) per annum (p.a.) from regions including Liverpool and West Yorkshire over the next five years and estimate each contract win of GBP100 million p.a. could lift our earnings per share (EPS) forecasts by 3% to 5%, he adds. With this, Ong forecasts that CDG UK earnings before interests and taxes (ebit) should rise by at least $15 million per year over FY2024/FY2025 from more London contract renewals at higher margins, and its Manchester contribution starting in January FY2025. We forecast CDG to post a profit after tax and minority interest (patmi) of $52 million in 2QFY2024, at 29% higher q-o-q and 14% more y-o-y, writes the analyst.  He sees CDGs overall earnings growth driven by positive contribution from more London bus contracts renewed at higher margins, improvements in Singapore rail ridership, and stronger taxi segment margins.  Ong adds: We anticipate further patmi growth in the seasonally stronger 3QFY2024, especially as more than half of the annual profits from CMAC (which CDG acquired in early FY2024) are typically generated during the summer travel season in the UK.  While the company has had a slower start to the year, Ong believes CDG remains on track to meet his FY2024 forecasts, as its earnings ride on UK tailwinds, while providing a decent dividend yield of 5.7% in FY2024.  We also observed that CDG has been conducting share buybacks at $1.33 levels over the past month, concludes Ong. As at 12.17pm, shares in ComfortDelGro are trading two cents higher or 1.49% up at $1.36. |
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SgYuan
Supreme |
27-Jun-2024 11:29
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SGX Penny Stocks (EW Charts by sgYuan):
comfortdelgro day unable to breakup 150 wabc correction wabc wc dn 128 px hit 132 px need to breakup 14.6 135 then possible uturn |
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