ComfortDelGro    Last:1.29   -

COMFORT DELGRO - MOVING FORWARD

I did read something like out of 30 index stocks but I don't MAS will restrict them not to buy.. if lose $, tax incentive is useless

Entropy72      ( Date: 23-Feb-2025 15:35) Posted: MAS $5B is not meant for component companies in the STI. That means the largest eligible companies are those in the STI reserve list: CapitaLand Ascott Trust ComfortDelGro Keppel DC REIT Keppel REIT Suntec REIT Another 400 x $50M $2B funds from family offices in Singapore will enter the market too. But these can go to STI components.

 

Right, once div hit 8 cents sp will go to at least 1.6

Entropy72      ( Date: 22-Feb-2025 12:36) Posted: Got reasonable chance. But CDG needs to up its dividend payout to attract investors. Asdfgh101      ( Date: 22-Feb-2025 09:18) Posted: https://www.straitstimes.com/business/companies-markets/new-5-billion-scheme-by-mas-to-boost-spore-stocks-as-part-of-measures-to-revive-sgx Let's hope the first tier they will push is glc mid caps!

 

He is wrong.   Quote - "   invest in a range of companies and not just index component stocks" .  

guiren      ( Date: 23-Feb-2025 15:48) Posted: You sure ? Who said so ?? Entropy72      ( Date: 23-Feb-2025 15:35) Posted: MAS $5B is not meant for component companies in the STI. That means the largest eligible companies are those in the STI reserve list: CapitaLand Ascott Trust ComfortDelGro Keppel DC REIT Keppel REIT Suntec REIT Another 400 x $50M $2B funds from family offices in Singapore will enter the market too. But these can go to STI components.

 

You sure ? Who said so ??

Entropy72      ( Date: 23-Feb-2025 15:35) Posted: MAS $5B is not meant for component companies in the STI. That means the largest eligible companies are those in the STI reserve list: CapitaLand Ascott Trust ComfortDelGro Keppel DC REIT Keppel REIT Suntec REIT Another 400 x $50M $2B funds from family offices in Singapore will enter the market too. But these can go to STI components.

 

MAS $5B is not meant for component companies in the STI. That means the largest eligible companies are those in the STI reserve list:

CapitaLand Ascott Trust
ComfortDelGro
Keppel DC REIT
Keppel REIT
Suntec REIT

Another 400 x $50M $2B funds from family offices in Singapore will enter the market too. But these can go to STI components.

 

Jiayou, jiayou

Zai jiayou

)

 

Got reasonable chance. But CDG needs to up its dividend payout to attract investors.

Asdfgh101      ( Date: 22-Feb-2025 09:18) Posted: https://www.straitstimes.com/business/companies-markets/new-5-billion-scheme-by-mas-to-boost-spore-stocks-as-part-of-measures-to-revive-sgx Let's hope the first tier they will push is glc mid caps!

 

https://www.straitstimes.com/business/companies-markets/new-5-billion-scheme-by-mas-to-boost-spore-stocks-as-part-of-measures-to-revive-sgx

Let's hope the first tier they will push is glc mid caps!

 

 

So far I can only think of GLP where a "GLC" made profits of when ot privatised...any others?

 

 

Due diligence not done in Australia acquisition?
Fr the news, the Australia unit internal compliance fully aware of the fraud.

 

See results and dividends on 27 Feb. Still stuck in COVID price range.

 

Still in talks

 

Wonder if Grab Gojek merger is causing the price to be depressed?

 

UOB justed added CDG to its alpha picks.
This come just 2weeks after it lower the target price. 
Buy back after realising that no one joins them in shorting?
 

Joelton      ( Date: 15-Jan-2025 10:06) Posted: UOBKH lowers target price on ConfortDelGro amid higher platform fees and increasing competition UOB Kay Hian is keeping its " buy" recommendation on ComfortDelGro (CDG) but with a lower target price of $1.77 from $1.83 previously.    Although analysts Llelleythan Tan and Heidi Mo are upbeat on strong earnings growth, the group has recently raised its taxi platform fees starting 2025 and is expected to face increasing competiition with two new ride-hailing competitors entering the market.    The group has increased its platform fee on its online booking app Sig by 30 cents to 50 cents from the start of 2025, in a respose to rising costs from the Platform Workers Act which would require platform companies such as CDG to contribute more to the Central Provident Fund accounts of platform workers, coupled with work injury initiatives and enhanced insurance coverage.   Following the increase in platform fees, CDG&rsquo s platform fees would increase from a flat fee of 70 cents to $1-$1.20 depending on distance travelled and travel time. Other domestic ride-hailing competitors such as Grab and Gojek have also increased their platform fees in response to the Platform Workers Act.   " Based on our estimates, we expect minimal earnings impact from the increased platform fees for CDG&rsquo s taxi segment," say Tan and Mo, who reckon that the increase in platform fee revenue would be largely offset by higher manpower costs incurred due to the Platform Workers act.   Furthermore, as ride-hailing becomes slightly more expensive sector-wide, they opine that CDG&rsquo s online booking volumes may be impacted as consumers switch to cheaper alternatives such as public transport.   " Given that CDG&rsquo s online booking volumes have already been on a downtrend, we expect booking levels to continue trending downwards after the increase in platform fees," they say.    Meanwhile, Singapore' s Land Transport Authority (LTA) announced that two new ride-hailing service providers, Geo Lah and Trans-cab Services, have been awarded one-year provisional licences. The provisional licences would allow the two new operators to fine-tune their operations before being considered for a full Ride-Hail Service Operator Licence. Also, existing major players such as CDG and Grab have had their respective licences renewed.   Tan and Mo expect the two new ride-hailing entrants to have a slight negative impact on CDG' s taxi margins as domestic competition intensifies. " Given that most drivers are already on multiple service platforms, assuming competitive pricing from these new entrants, we expect CD&rsquo s declining booking volumes to fall further, leading to lower margins for CDG&rsquo s taxi segment as online booking commission drops," they say.    Furthermore, LTA recently announced that the Tampines bus package which is currently being run by CDG&rsquo s subsidiary, SBS Transit, has been called for tender with results expected in 2H2025. The existing bus package is expected to expire in Jul 2026 and is likely to draw bids from both domestic and foreign operators, similar to recent past tenders in 2022-2023.   Besides the usual two-envelope process which takes into account both quality and price factors, the LTA also mentioned that it would evaluate proposals for electric bus operations. As a recap, the Tampines bus package was one of five bus packages which were extended at lower service fees as part of a deal made with LTA due to the shift in financing framework for the Downtown MRT line. The expiry of the other four packages have not been made known to the public.   " Like past tenders, we reckon that the upcoming Tampines bus package tender implies potential risks to CDG&rsquo s near- to medium-term earnings no matter the outcome. Even if CDG wins back the Tampines bus package, we expect lower margins due to competitive bidding," say Tan and Mo.   In their view, CDG&rsquo s incumbency advantage is likely to increase its chances of winning back the contract given the existing economies of scale and cost savings that would allow it to put in a competitive bid.   However, based on estimates, this would lead to a $2 million decline in the group&rsquo s 2026 public transport segmental operating profit as margins compress. If CDG loses the contract, the group is expected to experience around $4 million (a half year&rsquo s contribution) negative impact to its 2026 public transport segmental operating profit. " As our base case, we expect CD to win back the Tampines bus package," say the analysts.    Over in UK, Tan and Mo expect public transport to improve in 4Q2024. Management noted that the UK bus contract renewals are still ongoing, which would lead to a better margin profile for 4Q2024 and beyond.   " Excluding the consolidation of the Addison Lee acquisition, we maintain our expectations that margins for the UK business would continue trending upwards towards the high single-digit to low-teens percentage in the medium to long term, albeit at a gradual pace given that only 15-20% of contracts are renewed every year," they say. Also, seasonally higher scheduled bus chartering activities in 4Q2024 would boost segmental revenue and profitability.   Closer to home, improving domestic rail ridership would help boost rail revenue y-o-y while bus revenues are set to drop for 4Q2024 due to the loss of the Jurong-West bus contract coupled with softer margins from the Australian business.   " Moving into 4Q2024, we expect stiff competition from ride-hailing peers to continue, leading to lower completed bookings and dragging down CDG&rsquo s overall commission on completed jobs," say the analysts. However, additional contributions from the A2B and the newly-completed Addison Lee acquisitions are expected to support the taxi segment&rsquo s upward growth momentum. However, due to acquisition costs, management noted that any significant earnings impact from Addison Lee would likely only come through in 1Q2025.

 

can start to accumulate

 

 

× The Straits Times SPH Media Limited INSTALL The Straits Times logo MRT, LRT ridership surpasses pre-Covid-19 levels for first time in 2024 ST20190910-201951268862-Lim Yaohui/ Area around Tampines MRT station at 8.35am when the PSI range is 83-94 at 8am on Sept 10, 2019. The haze may be back, and could persist in coming weeks. The 24-hour Pollutant Standards Index (PSI) - a measure of air quality here - is steadily creeping towards unhealthy levels. SINGAPORE - Ridership on Singapore?s MRT and LRT lines surpassed pre-Covid-19 levels for the first time in 2024, even though the average daily number of overall rides on public transport still came in below that in 2019. On average, there were 3.41 million MRT rides each day in 2024, based on figures released by the Land Transport Authority (LTA) on Jan 31. This was an increase of 5.2 per cent over 2023 levels, and exceeded the 3.38 million daily MRT rides clocked in 2019. The average daily ridership on the LRT network in 2024 came to 210,000, an increase of 4 per cent over the 2023 figure. It was a touch above the 208,000 rides in 2019. There was an average of 3.84 million trips a day on public buses in 2024, 2.4 per cent higher than the 3.75 million rides in 2023. But this still came short of the 4.1 million daily bus rides in 2019. Overall, there was a daily average of 7.46 million bus and train rides in 2024, 3 per cent below the 7.69 million rides recorded in 2019. Transport experts attributed the rise in MRT and LRT ridership to the continued expansion of the rail network, but said flexible work schemes mean overall public transport ridership has yet to catch up to pre-pandemic levels. LTA on Jan 31 also released ridership figures for taxis and private-hire cars. At 431,000, the number of daily rides in private-hire cars in 2024 was 8.6 per cent above the 397,000 trips in 2023. It surpassed the 419,000 rides clocked in 2019 for the first time. It was a vastly different picture for cabs, which recorded a continued decline in ridership. The average daily taxi ridership of 187,000 was 10.5 per cent lower than the 209,000 trips in 2023, and just slightly more than half of the 353,000 trips recorded in 2019. Taxis and private-hire cars, which collectively make up the point-to-point (P2P) transport sector, managed an overall average daily ridership in 2024 of 618,000, which is still below the 772,000 rides in 2019. Associate Professor Raymond Ong, a transport infrastructure researcher at the National University of Singapore, attributed the increase in train ridership to the expansion of the rail network in 2024. He pointed to the opening of the fourth stage of the Thomson-East Coast MRT Line (TEL4) in June 2024 which connects those living in the East Coast area to Marina Bay and Woodlands North. Spanning 10.8km, the stretch comprises seven stations ? Tanjong Rhu, Katong Park, Tanjong Katong, Marine Parade, Marine Terrace, Siglap and Bayshore. On the Sengkang-Punggol LRT network, Teck Lee station opened in August 2024, serving the business park in the Punggol Digital District and the Singapore Institute of Technology?s campus. Dr Samuel Chng, head of the Urban Psychology Lab in the Lee Kuan Yew Centre for Innovative Cities at the Singapore University of Technology and Design, said the adoption of flexible work arrangements partly explains why overall ridership has yet to exceed 2019 levels. But with the continued expansion of the rail network, ?we can expect MRT trips to continue to increase in the coming years?, he added. Prof Ong said that while the average daily ridership for buses has not caught up to 2019 levels, it is still the most widely used mode of public transport. ?Even with more MRT stations being opened, leading some passengers to switch away from buses, we are still seeing bus ridership increase, so don?t discount the bus as a core mode of public transport,? Prof Ong added. In July 2024, the Land Transport Authority announced that it would spend up to $900 million to improve public bus connectivity over eight years. This includes accelerating the roll-out of bus services in new towns, and introducing express feeder buses to serve new housing developments and more peak-hour express bus services to complement busier MRT lines. Singapore University of Social Sciences transport economist Walter Theseira noted that the ridership data should be seen in the context of Singapore?s population growth since 2019. More on this Topic Yew Tee residents look forward to DTL extension connecting ?remote? neighbourhood to the city DTL extension to Sungei Kadut to open in 2035, including new MRT station near Yew Tee Village At last count, the total population of Singaporeans, permanent residents and non-residents in Singapore stood at 6.04 million in 2024, compared with 5.7 million in 2019, based on government data. ?Per capita ridership is actually much lower than what the top-line figures indicate,? said Associate Professor Theseira. ?It points to changes to commuting and travel from flexible work, remote work and services, and at least some part of those changes is likely permanent.? Housewife Julietta Ismail, who lives in Marine Terrace in Marine Parade, said the opening of the MRT station in the area, which is part of TEL4, has made it more convenient for her to get around, including to nearby amenities. Around four times a month, the 51-year-old will take the train to the Marine Parade station, which is one stop away, to shop at Parkway Parade mall. ?It is just faster and more convenient for me,? she said. In 2022, Mr Colin Chen, head of environmental, social and governance (ESG) finance for the Asia-Pacific at MUFG Bank, switched from driving to taking a bus to work from his home in Pasir Panjang to his office in the Central Business District. The 61-year-old said that although the bus journey is longer, he finds it more convenient because there is no need to look for a parking space. As for the continued drop in the number of taxi rides in 2024, Prof Theseira said it is clear that taxi operators have chosen to let their fleets shrink, and cab drivers are also shifting to private-hire cars or retiring. There were 13,117 taxis as at the end of 2024, down 29.3 per cent from 18,542 in 2019. Prof Theseira said it will remain ?challenging to provide a viable street-hail service?, noting that booking a ride through a strong matching system is more efficient than hailing a cab on the streets. Only taxis can be hailed on the streets, whereas private-hire car rides are booked through licensed ride-hailing operators, and these vehicles are not allowed to use taxi stands to pick up or drop off passengers. Prof Ong said taxi operators need to look into the way they do business, specifically at how they can attract drivers and appeal to passengers. ?As the market share of private-hire cars is so dominant, consumers will ask if there is really a need for taxis,? he added. Prof Ong said it appears that both drivers and passengers have come to accept private-hire cars as the preferred mode of transport ahead of cabs. As part of a review of the P2P industry, the authorities are exploring how it can encourage drivers entering the sector to opt for taxis and not gravitate automatically to private-hire cars. Already, LTA has streamlined the training curriculum and lowered the fees for drivers to obtain a vocational licence.

 

An improved dividend payout will revive this. A declining interest rate will boost it.

Look out for 27 Feb announcement.

 

Seems like our SGX stocks are still at COVID 19 prices even though the whole world has moved on...there is also fx balancing with the recent death by million cuts selldown by funds...once again we are 东 亚 病 夫