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It has been years since I saw a month-on-month increase in taxi driver vocational license holders. This has happened in May and June.
Comfort and City Cab are the only operators increasing their taxi fleet.
https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/P2P_info_2024.pdf
Comfort and City Cab are the only operators increasing their taxi fleet.
https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/P2P_info_2024.pdf
Yeah LOTR III Return of the King.
Asdfgh101 ( Date: 14-Aug-2024 17:43) Posted:
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ComfortDelgro&rsquo s H1 2024 earnings rise 21.4% to S$95.3 million
Revenues in H1 2024 for its other private-transport and taxi/private-hire vehicle businesses rise, mostly powered by contributions from recent acquisitions
TRANSPORT operator (CDG) reported on Wednesday (Aug 14) a 21.4 per cent increase in earnings for the first half of 2024 to S$95.3 million, from S$78.5 million in the year-ago period.
Revenue for the period rose 13.7 per cent to S$2.1 billion from S$1.9 billion in the year prior, driven mainly by new acquisitions and increased contributions from existing businesses.
The UK-based transport-solutions provider CMAC, acquired in February 2024, drove up H1 2024 revenue for CDG&rsquo s other private-transport business, sending it up 149.6 per cent to S$173.5 million from S$69.5 million in H1 2023.
The taxi/private-hire vehicle business also recorded higher revenues for the period &ndash 17.8 per cent higher to S$327.5 million in H1 2024 from S$277.9 in H1 2023.
Most of that rise was contributed by the newly acquired Australia-based taxi company, A2B. The acquisition bumped up CDG&rsquo s overall taxi fleet by around 8,000, to a total of around 29,000.
Revenue from the public-transport business rose 7 per cent to S$1.5 billion in H1 2024, from S$1.4 billion in H1 2023, due to increased revenues from UK bus contracts, improved rail ridership and fare increases, as well as contractual indexation adjustments on public bus contracts.
An interim dividend of S$0.0352 per share was declared by the board, with the closing of books on Aug 22, and payout on Aug 29.
Cheng Siak Kian, chief executive officer of CDG, told The Business Times: &ldquo We have said in the last six months that this is a recovering business, and we are in the phase of recovery... that we are seeing in key markets of Singapore, the UK and Australia.&rdquo
He noted that with the contributions from A2B and CMAC, the proportion of overseas revenue rose to 46.3 per cent from 41.8 per cent in the year-ago period, in line with CDG&rsquo s plans for increased overseas operations.
CDG Engie, Volt Singapore win contracts to deploy fast public EV charging points
&ldquo (This) is on track with our plans and is a positive sign... that is exactly where we think we can grow the company,&rdquo he said.
Looking ahead, more contributions from the overseas segment are expected:
In the UK, the London public bus contract renewals are expected to continue at improved margins.
Four successful public-bus franchises in Greater Manchester will commence in January 2025, a move that will boost CDG&rsquo s UK bus fleet by 30 per cent.
Overseas rail joint ventures in Paris and Stockholm begin revenue contributions in 2025, and the company is awaiting the outcome of tenders on Sydney and Melbourne public-rail contracts in Australia.
CMAC made only partial contributions for H1 2024, and will contribute in full for the remaining half of the financial year.
However, CDG noted that driver shortages continue to plague the Australian market.
On the taxi front, the Singapore market is expected to be stable amid intense competition China revenues are expected to recover gradually. A2B will also record a full contribution for the H2 2024 period.
CDG said that recent market volatility and geopolitical tensions have resulted in heightened uncertainty, but that it was &ldquo cautiously confident&rdquo .
CDG chairman Mark Greaves said: &ldquo We are well-placed to build further scale and pursue profitable growth, underpinned by strong core operational performance and leading positions in our key markets, which we will continue to build on.&rdquo
https://www.sgx.com/securities/data-reports?reportType=203
stonkmaster ( Date: 14-Aug-2024 19:08) Posted:
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How to see this?
Entropy72 ( Date: 13-Aug-2024 22:52) Posted:
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Towards $1,7 😄
Asdfgh101 ( Date: 14-Aug-2024 17:43) Posted:
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Stellar results and dividends next stop to be back into STI
COMFORTDELGRO DELIVERS ROBUST PERFORMANCE
WITH 21.4% NET PROFIT GROWTH IN FIRST HALF 2024
- The Group has posted a fifth quarter of continuous year-on-year earnings improvement
- Revenue reported at S$2.12 billion, marking a 13.7% year-on-year increase PATMI is reported at S$95.3 million, a 21.4% year-on-year increase
- Interim dividend of 3.52 cents per share declared, representing a payout ratio of 80%
https://links.sgx.com/1.0.0/corporate-announcements/2BALBZQJPBIJAA51/815618_ComfortDelGro%20-%20Media%20Release_1H2024%20Financial%20Results.pdf
WITH 21.4% NET PROFIT GROWTH IN FIRST HALF 2024
- The Group has posted a fifth quarter of continuous year-on-year earnings improvement
- Revenue reported at S$2.12 billion, marking a 13.7% year-on-year increase PATMI is reported at S$95.3 million, a 21.4% year-on-year increase
- Interim dividend of 3.52 cents per share declared, representing a payout ratio of 80%
https://links.sgx.com/1.0.0/corporate-announcements/2BALBZQJPBIJAA51/815618_ComfortDelGro%20-%20Media%20Release_1H2024%20Financial%20Results.pdf
CDG is one of top 10 institutional net buys last week. It is also one of top 10 retail net sells last week. Smart money flowing in.
Welcome, Bro!
MrBear12 ( Date: 13-Aug-2024 06:25) Posted:
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One of the worst underperforming stock.
Despite that the pandemic is over, the company is unable to turn around with any major catalysts.
Taxi business is of the past, it can never grow.
The senior management is not adventurous to diversify into non transport business. Most of these guys are just happily collecting their huge payouts annually, so no need to rock the boat.
Despite that the pandemic is over, the company is unable to turn around with any major catalysts.
Taxi business is of the past, it can never grow.
The senior management is not adventurous to diversify into non transport business. Most of these guys are just happily collecting their huge payouts annually, so no need to rock the boat.
Defensive play is the order of the day
Thanx Entropy72.
You are one faithful champion of the taxi industry.
Thanx Entropy72.
You are one faithful champion of the taxi industry.
Entropy72 ( Date: 13-Aug-2024 00:12) Posted:
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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.
1H24 results should be out this week.
Company looking good!
Will be coming back to Singapore to experience the better transport services.
Will be coming back to Singapore to experience the better transport services.
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.
Good news for CDG and SBS Transit
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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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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.
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
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?.
Body kut kut, engine gud gud, sibei ho loot, prices also patoot
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. 💰 💰
Entropy72 ( Date: 24-Jul-2024 10:17) Posted:
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