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COMFORT DELGRO - MOVING FORWARD
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Joelton
Supreme |
19-Jun-2025 11:45
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ComfortDelGro, SBS Transit to move out of Braddell headquarters ahead of lease expiry in 2026
 
[SINGAPORE] Transport giant ComfortDelGro and its subsidiary, SBS Transit, will be moving out of their long-standing Braddell Road headquarters, as the lease on the premises expires in August 2026.
 
Affected staff will be relocated progressively from October to the company&rsquo s other locations, depending on the nature of their work, The Straits Times understands.
 
Apart from the Braddell head office, ComfortDelGro&rsquo s other properties here include bus depots in Bedok and Bukit Batok, vehicle workshops in Ubi, Loyang, Senoko and Pandan Road, inspection centres in Yishun and Changi, as well as premises in Sin Ming.
 
SBS Transit also has administrative offices in some of the bus and train depots that are built and owned by the Land Transport Authority. They include Sengkang Rail Depot and the recently constructed Sengkang West Bus Depot.
 
According to ComfortDelGro&rsquo s 2024 annual report, the current lease on its Braddell headquarters is for a period of 36 years and 10 months.
 
This was preceded by an earlier lease that began in 1974, which was taken out by what was then known as Singapore Bus Services, according to annual reports from the 1980s.
 
The bus operator later became a subsidiary of DelGro Corporation, and was rebranded in 2001 as SBS Transit. DelGro Corporation then merged with taxi company Comfort Group in 2003 to form today&rsquo s ComfortDelGro.
 
Asked for comment, ComfortDelGro did not say why it did not extend or renew its current lease on the Braddell site. It also did not answer queries about where its new corporate headquarters will be located.
 
The company&rsquo s head office today sits on a 66,441 sq m plot of land at 205 Braddell Road, next to the CTE. Equivalent to the size of about nine football fields, the site houses a range of facilities, including office space, workshops, diesel pumps and electric vehicle (EV) charging stations.
 
SBS Transit also has a bus park at the Braddell location, where it stores and maintains public buses.
 
SBS Transit spokeswoman Grace Wu said the public transport operator has been in Braddell since 1980. This was when the buildings there were officially opened.
 
By end-2025, SBS Transit will relocate its office staff to Sengkang Rail Depot and Sengkang West Bus Depot, Wu said.
 
Meanwhile, operations at the Braddell bus park will be shifted to SBS Transit&rsquo s Hougang Bus Depot. This will involve moving about 200 buses to the depot at Defu Avenue 1.
 
Wu added: &ldquo It will be business as usual with no impact expected to our day-to-day operations.&rdquo
 
For cabbies, ComfortDelGro said its maintenance workshop on its Braddell Road premises will continue to serve taxi drivers in the central region, until a new five-storey automotive hub in Ubi opens in the first quarter of 2026 to take its place.
 
&ldquo There will be a planned overlap period to ensure a smooth and seamless transition for our cabbies. Our priority is to maintain continuous, uninterrupted maintenance services during this transition,&rdquo said a ComfortDelGro spokesperson.
 
Construction of the company&rsquo s new automotive hub, located at 320 Ubi Road 3, started in October 2024, at the same address as its previous maintenance workshop in Ubi.
 
When completed in February 2026, the new facility will have more than 250 service bays, including 32 for buses. It will offer a range of services from EV sales, car rental, maintenance and accident repairs, as well as EV technician training and EV charging, ComfortDelGro said previously.
 
As for development plans for the Braddell Road site after it is vacated, the land remains zoned for transport facilities use, according to the Urban Redevelopment Authority&rsquo s 2019 Master Plan. That means it can be used only for the parking of vehicles or facilities such as a transport depot, driving circuit or petrol station.
 
The Braddell plot is owned by industrial developer JTC Corporation.
 
In response to queries, the government statutory board said it was unable to comment on the terms of the lease agreement, citing confidentiality reasons.
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Speediman
Senior |
18-Jun-2025 17:04
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There are too many reits in STI. They need to include a few more npn reits companies to better reflect the economy | ||||
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chengwh1
Elite |
14-Jun-2025 14:13
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ComfortDelgro on Reserve List of the STI - the only company to be there in the Reserve List,... other 4 components are all REITs and a Trust. September REview will be interesting,.......... | ||||
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beng1102
Elite |
09-Jun-2025 14:01
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Just STRONG BUY as it is bouncing back from OS and likely to continue going up.
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governor
Veteran |
31-May-2025 07:36
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Wolf Money(portfolio update end May 2025)part 2 ComfortDelGro related Commentary    Another month, another flip-flop by the Trump& rsquo s administration on trade policy. I have acquired some skills of keeping the noise out of my mind. I did little in May with the exception to a sale in Grab Holdings and a small loss in my test case position at Alibaba. Just before the month is up, I bought in a small position in Keppel. https://lonewolfinvestor.blogspot.com/2025/05/wolf-moneyportfolio-update-end-may_30.html |
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Speediman
Senior |
30-May-2025 11:26
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Recent weakness could be market reacting to Grab buying Goto.    |
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john_ric
Supreme |
30-May-2025 10:53
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Aud keep depreciating. Won't be a good thing to invest in Oz. Look at lendlease reit and fraser l c reit. Their share prices keep dropping now . | ||||
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Speediman
Senior |
30-May-2025 09:04
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ComfortDelGro will bid to run Melbourne trains from 2027 as part of consortiumCDG is increasing its oversea growth. If Melbourne bid is successful, it will dominate Melbourne with Taxi, Bus and Rail. Awesome Combo.... |
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john_ric
Supreme |
28-May-2025 11:04
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Comfort is Accelerating the downward trend. It is. Accelerating. . | ||||
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Entropy72
Master |
15-May-2025 13:16
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Don?t fret, Bro. Prices will catch up with valuations. No need to worry holding CDG in these period of uncertainty. Defensive domestic earnings and footprint internationalizing.
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Asdfgh101
Member |
15-May-2025 09:48
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No wonder nobody wants to invest in SGX...this chap has posted stellar results since 18 months ago and it continues to drop...so many positives including Trump wanting to keep oil price low...short of a sale of one of their subsidiaries, it seems stuck in neutral..and both TH and DBS don't seem to want to push this unless they have grand plans to push it later back into the STI | ||||
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Joelton
Supreme |
15-May-2025 08:14
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ComfortDelGro posts a 19% rise in Q1 net profit to S$48.3 million
Revenue rises 16.4% to S$1.2 billion, whereas operating costs climbs at a slower pace of 15%
 
[SINGAPORE] Transport behemoth ComfortDelGro : C52 -0.65% posted a 19 per cent rise in its net profit of S$48.3 million for the quarter ended March on contributions from last year&rsquo s acquisitions and improved margins.
 
It said in an update for the first quarter of FY2025 published on Wednesday (May 14) that revenue rose 16.4 per cent year on year to S$1.2 billion, whereas operating costs climbed at a slower pace of 15 per cent.
 
The mainboard-listed company was confident that its cabbies would not jump ship to Grab. At the Apr 22 annual general meeting, the transport operator&rsquo s group chief executive Cheng Siak Kian sought to assure shareholders about the loyalty of its own taxi drivers.
 
Grab obtained a taxi operator licence in April.
 
Cheng said the award to Grab to increase the taxi fleet size in Singapore was not unexpected.
 
He added that ComfortDelGro cabbies would recognise the value of the company&rsquo s ecosystem, including quality of vehicles and support and fuel discounts, and stay on for quality of the drivers&rsquo support and security.
 
Cheng noted that the greater concern to the taxi operator is the shortage of taxi drivers, adding that there are talks with the regulators to level the playing field between the taxi and the private hire industry, and ensure sustainability of earnings for the taxi drivers.
 
In its update, the transport group commented that overseas contributions accounted for more than half the total revenue for the first time in its history its acquisitions in Europe and Australia drove up foreign contributions to 52.6 per cent from 43.3 per cent in the year-ago period.
 
Revenue from Singapore was lower, contributing 47.4 per cent, after the Jurong West bus package was handed over to a new operator late last year.
 
However, the local business was responsible for 60.2 per cent of the group&rsquo s operating profit, and benefited from cost control and internal efficiencies, ComfortDelGro said.
 
By segment, public transport earned a higher operating profit of S$36.7 million for the group, up 52.9 per cent from S$23.8 million.
 
ComfortDelGro&rsquo s taxi and private hire reported an 11.9 per cent rise in operating profit to S$32.1 million, while other transport swung to an operating profit of S$700,000 from an operating loss of S$1 million.
 
Car and non-vehicle inspection and testing services generated S$9 million in operating profit, up 8.4 per cent, while other segments reported a 150 per cent surge in operating profit to S$3 million.
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spursfan
Elite |
14-May-2025 18:02
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https://links.sgx.com/1.0.0/corporate-announcements/ANFTACIXBMS3HZ1Y/845362_ComfortDelGro%20-%201Q2025%20Business%20Update.pdf | ||||
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governor
Veteran |
14-May-2025 18:00
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Wolf Money(ComfortDelGro 1Q 2025 result)https://lonewolfinvestor.blogspot.com/2025/05/wolf-moneycomfortdelgro-1q-result.html |
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governor
Veteran |
01-May-2025 06:34
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Wolf Money(portfolio update end April 2025)part 2 ComfortDelGro related Commentary  April was a volatile month. Let me address my recent changes to my portfolio. I would have preferred not to touch them, but under the dark cloud of trade wars. I am forced to adopt a more defensive position. It might be worth taking insurance by lowering the beta of my portfolio. For people new to my blog, I adopt a more concentrated style of portfolio management.  https://lonewolfinvestor.blogspot.com/2025/05/wolf-moneyportfolio-update-end-april.html   |
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MrBear12
Supreme |
30-Apr-2025 10:50
![]() Yells: "DBS Singtel OCBC Keppel STEng CICT KIT UOB JMH CDL SGX SIA " |
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Think win win.
Not just one party win. Cooperate. Extends to politics
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Joelton
Supreme |
30-Apr-2025 10:42
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Will ComfortDelGro win the point-to-point 2.0 race against Grab?
Studies show that people who choose to drive taxis are those who want to devote more time to driving for a living
 
[SINGAPORE] Grab&rsquo s entry into Singapore&rsquo s taxi market is likely to give the leading incumbent ComfortDelGro : C52 +0.65% a run for its money.
 
Studies have shown that people who choose to drive taxis are those who want to devote more time to driving for a living. Private-hire car drivers, on the other hand, are a mix of full-time drivers and part-timers who also use their cars for personal purposes.
 
Moreover, taxi drivers are permitted to provide ride-hailing trips, while private-hire car drivers are not allowed to take street-hail passengers.
 
What&rsquo s in it for the platform operator then?
 
An executive for one of the incumbent taxi companies said new taxi companies such as GrabCab &ndash a subsidiary of the Nasdaq-listed Grab that was awarded the taxi operator licence &ndash are likely to draw drivers from the existing operators.
 
For some, it is clear that Grab wants to grab taxi drivers, who are seen as more productive than private-hire vehicle drivers.
 
It is not the first time Grab has tried to enter the taxi market.
 
Grab in 2024 abandoned plans to acquire taxi company Trans-cab after failing to obtain the all-clear from the competition watchdog.
 
The proposed Trans-cab purchase was Grab&rsquo s third attempt at buying a taxi company in Singapore.
 
In 2017, there were talks to buy SMRT&rsquo s taxi fleet, but the deal fell through. In 2022, its discussion with Prime Taxi, the smallest cab operator in the Republic, did not materialise into a transaction either.
 
Grab gears up for recruitment
 
Shortly after being shown the green light to provide taxi services, Grab sprang into action to recruit taxi drivers. It dangled &ldquo early-bird&rdquo rental offers and asked applicants &ndash in what it touts as an exclusive deal &ndash to make a deposit of S$50 for priority access to renting from GrabCab.
 
Those without a taxi driver&rsquo s provisional licence (TDVL) will get Grab&rsquo s sponsorship for the course to earn it &ndash with terms and conditions attached.
 
The fund to buy Trans-cab &ndash said to be around S$100 million &ndash will now likely serve as the financial firepower to incentivise drivers to jump ship from other taxi operators or entice those with a TDVL but are inactive to rejoin the industry.
 
As at February, there were 90,556 holders of a TDVL compared to a taxi population of 12,941, statistics from the Land Transport Authority showed.
 
Assuming there is a relief driver for half of the taxi population, that would bring the pool of active taxi drivers in Singapore to about 20,000.
 
This means that there could be some 70,000 people that hold TDVLs but do not drive taxis. Or, as a TDVL allows a holder to drive a taxi or a private-hire car, some of these could be private-hire car drivers.
 
ComfortDelGro&rsquo s fleet of 8,255 taxis under the Comfort and CityCab brands means the Singapore mainboard-listed transport behemoth has about 64 per cent share of the market.
 
Assuming Grab wants to build an initial fleet of 800 taxis &ndash the minimum required by the authority &ndash and that the source of drivers would be from the incumbents proportionate to their market share, this could see ComfortDelGro lose about 512 drivers.
 
But if Grab builds a fleet size of 2,000 &ndash Trans-cab&rsquo s taxi population at the time the earlier acquisition was proposed &ndash then the number of taxi drivers exiting ComfortDelGro could rise to 1,280.
 
Of course, not all the drivers that Grab wants to recruit would be from the incumbents. However, the majority are likely to be. Their dwindling numbers in recent years as well as the flexibility and lower cost of being private-hire car drivers substantiate this proposition &ndash unless there is a spike in Singapore&rsquo s unemployment rate.
 
A back-of-the-envelope calculation, using an attrition of 512 to 1,280 drivers and a conservative daily rent of S$100, ComfortDelGro&rsquo s rental loss alone &ndash not including ancillary revenue such as those from fuel sales and platform fees &ndash would probably amount to S$18.4 million to S$46 million. This is hardly damaging.
 
The transport powerhouse reported S$748.7 million in revenue and S$135.3 million in operating profit from the taxi and private-hire vehicle segment for FY2024, without breaking down by geography and sub-segment.
 
The taxi business is ComfortDelGro&rsquo s most lucrative transport segment, giving it an operating profit margin of 18.1 per cent for FY2024. Its two other transport segments &ndash public transport and other private transport &ndash each only had a meagre operating profit margin of 4.2 per cent.
 
One would expect ComfortDelGro not to cede ground to Grab easily. In terms of rental rates, benefits and incentives, it is likely to match, if not outdo, its competitor to protect this source of revenue
 
This will be the second round of the face-off, after Grab drew taxi drivers to its platform with generous incentives in the early days of ride-hailing.
 
In the short term, this could mean rising costs for both operators. But there is more at stake for ComfortDelGro to defend its turf than for Grab to make inroads into the taxi market.
 
If ComfortDelGro is not able to keep its taxi population at a certain level, its network effect in terms of drivers and passengers will decrease and it will also lose economies of scale. By then, the impact to ComfortDelGro could be far greater than the initial hit of S$46 million.
 
While ComfortDelGro might be competitive in dishing out carrots, it also has to significantly rev up its technology prowess &ndash which is seen as Grab&rsquo s strength.
 
One would imagine that the competitor could leverage technology to tackle the imbalance in demand and supply by identifying areas or time of the day where passenger demand is high and unmet by private-hire car drivers, and deploying taxi drivers to meet such demand.
 
This will boost cabbies&rsquo earnings and passenger satisfaction, in turn creating a virtuous cycle.
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TikTalk
Supreme |
26-Apr-2025 08:14
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Brought to you by Nabeh and Heng Sexurity...........![]() Body koot koot engine good good sibei ho loot.... ![]() |
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TikTalk
Supreme |
26-Apr-2025 07:59
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Time will tell if Guzman becomes another conman.
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TikTalk
Supreme |
26-Apr-2025 07:57
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I wonder if Guzman know conman.
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