Trans-cab Holdings

http://www.businesstimes.com.sg/companie...0m-sources

Trans-Cab planning IPO to raise S$100m: sources
transcabdehis1410.jpg Trans-Cab had 4,650 taxis at the end of August, trailing only ComfortDelGro Corp's 12,557 vehicles in Singapore, according to data from the Land Transport Authority - PHOTO: ST
14 Oct5:50 AM
Singapore

TRANS-CAB Services Pte, Singapore's second-biggest taxi operator, is preparing an initial public offering in the city that could raise at least S$100 million, people with knowledge of the matter said. The company plans to sell shares by the end of the year, the people said,

(14-10-2014, 06:45 AM)greengiraffe Wrote: http://www.businesstimes.com.sg/companie...0m-sources

Trans-Cab planning IPO to raise S$100m: sources
transcabdehis1410.jpg Trans-Cab had 4,650 taxis at the end of August, trailing only ComfortDelGro Corp's 12,557 vehicles in Singapore, according to data from the Land Transport Authority - PHOTO: ST
14 Oct5:50 AM
Singapore

TRANS-CAB Services Pte, Singapore's second-biggest taxi operator, is preparing an initial public offering in the city that could raise at least S$100 million, people with knowledge of the matter said. The company plans to sell shares by the end of the year, the people said,

The company has denied the report. I will move the thread to a more appropriate location.

Trans-cab denies report of imminent IPO

SINGAPORE — Trans-cab Services, the Republic’s second-largest taxi operator, has denied a report by Bloomberg that it is preparing an initial public offering that could raise at least S$100 million.

Speaking to TODAY over the phone, the company’s managing director Teo Kiang Ang said in Mandarin: “We have always had plans (to do an initial public offering), but I don’t know when that will be... The management still hasn’t let me know...I don’t have anything special to share with you. We have just been doing our business as usual.”
...
http://www.todayonline.com/singapore/tra...lanned-ipo

Is the taxi business profitable?
SMRT claims its taxi business to be hanging on the line, sometimes thin margin sometimes loss-making

Also who are their auditors?

(14-10-2014, 09:12 AM)CityFarmer Wrote: Trans-cab denies report of imminent IPO

SINGAPORE — Trans-cab Services, the Republic’s second-largest taxi operator, has denied a report by Bloomberg that it is preparing an initial public offering that could raise at least S$100 million.

Speaking to TODAY over the phone, the company’s managing director Teo Kiang Ang said in Mandarin: “We have always had plans (to do an initial public offering), but I don’t know when that will be... The management still hasn’t let me know...I don’t have anything special to share with you. We have just been doing our business as usual.”
...
http://www.todayonline.com/singapore/tra...lanned-ipo

Think they started the roadshow this week, 2 weeks after denial... hmmm....

can't locate its ipo prospectus

30 Oct5:50 AM
Singapore

SINGAPORE on Wednesday said hello to Hailo, a London-based taxi-booking app, and at least the fifth such third-party platform (after GrabTaxi, Easy Taxi, MoobiTaxi and UberTAXI) to hit the roads here in the last two years - a move observers say should further unnerve "traditional" taxi companies that continue to dismiss disruptive technologies.

[paragraphs omitted.]

Trans-Cab Services, however, which has previously declared it would remove any third-party app decals found on its taxis, said it would continue to monitor the situation before making any decision. The latter has a dedicated taxi-booking app for its close to 5,000 taxis.

http://www.businesstimes.com.sg/transpor...up-a-level

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A comfort-delgro taxi driver told me that they have to subscribe to comfort delgro booking system and pay a monthly fees. They can also subscribe to old school radio (Boon Lay Taxi stand) for a fee too. He mentioned that the fee is not low it is a cost he's willing to pay as it helps in business.

While the booking system monthly and per booking fee is not a main cost driver for the drivers, it's a good source of profit for taxi company. I believe this is where a little additional cost creates much more value for customer - who in return willing to pay for the differences.

For example, a medium pop priced at $5 and the large pop corn priced at $7. The's only a certain amount of customers who buys pop corn a day. Selling at $5 for a medium one, $4.5 dollars goes to pay rental, salary, and cost of pop corn - profit margin is 10%. Selling at 7 for a large one, probably $5 dollars goes to rental, salary and higher cost for pop corns and bigger cup - a profit margin of 2/7=28.6%.
With a 2 dollars upgrade to bigger pack of pop corn, customer is happy to get much more popcorn/dollar while seller makes 3 times increase profit. To the customer, 2/5 = 40% increase price increases the popcorn volume by 150%. For the popcorn seller, the same 40% increase in revenue would mean 300% increase in profit/customer.

Unlike taxi rental, where real depreciation occurs, the booking system generates good money once it's paid off. Taxi fleet size would be important to determine the profitability.
I have no idea how much taxi companies make from the booking system. If it's in high proportion, it's facing a disruptive technologies that is trying to take a sip from the most lucrative (low unit cost high profit margin) cup from the taxi companies.

http://www.channelnewsasia.com/news/busi...l?cid=FBSG

SINGAPORE: Trans-cab, the second largest taxi operator in Singapore by fleet size on Tuesday (Nov 4) announced that it has lodged its preliminary prospectus with the Monetary Authority of Singapore and intends to list its shares on the Main Board of the Singapore Exchange Securities Trading Limited.

The Global Offering comprises 168 million shares. It has secured six cornerstone investors for 38.7 per cent of the Global Offering. They are Eastspring Investments (Singapore), FIL Investment Management (Hong Kong), Havenport Asset Management, JF Asset Management, Lion Global Investors and Maxi-Harvest Group.

DBS Bank has been appointed manager for the proposed listing.

Trans-cab, which started out a decade ago, has grown its fleet to 4,686 taxis with approximately 7,400 taxi drivers, including relief drivers, as of June. The company recorded a three-year compounded profit growth of approximately 22.2 per cent, from S$24.3 million for the financial year ended 31 December 2011 to S$36.3 million for the financial year ended 31 December 2013.

Is it a good business? Any views?

Several factors would include Singapore's growing income, population growth, fuel prices, and regulations. From what I see, I can get a cab quite readily and the market in S'pore feels saturated to me.

(04-11-2014, 07:47 PM)idyllic_yawster Wrote: http://www.channelnewsasia.com/news/busi...l?cid=FBSG

SINGAPORE: Trans-cab, the second largest taxi operator in Singapore by fleet size on Tuesday (Nov 4) announced that it has lodged its preliminary prospectus with the Monetary Authority of Singapore and intends to list its shares on the Main Board of the Singapore Exchange Securities Trading Limited.

The Global Offering comprises 168 million shares. It has secured six cornerstone investors for 38.7 per cent of the Global Offering. They are Eastspring Investments (Singapore), FIL Investment Management (Hong Kong), Havenport Asset Management, JF Asset Management, Lion Global Investors and Maxi-Harvest Group.

DBS Bank has been appointed manager for the proposed listing.

Trans-cab, which started out a decade ago, has grown its fleet to 4,686 taxis with approximately 7,400 taxi drivers, including relief drivers, as of June. The company recorded a three-year compounded profit growth of approximately 22.2 per cent, from S$24.3 million for the financial year ended 31 December 2011 to S$36.3 million for the financial year ended 31 December 2013.

Is it a good business? Any views?

Several factors would include Singapore's growing income, population growth, fuel prices, and regulations. From what I see, I can get a cab quite readily and the market in S'pore feels saturated to me.

Hope it could be a good dividend play.

Be informed that when SMRT lines are "fully' operational in 2017 to 2020, Singapore may not need so many taxi on the road. Don't believe me? Go and take a look at SMRT MAP of 2017 onwards.
So may invest in SMRT for the long term.

(04-11-2014, 07:47 PM)idyllic_yawster Wrote: Trans-cab, which started out a decade ago, has grown its fleet to 4,686 taxis with approximately 7,400 taxi drivers, including relief drivers, as of June. The company recorded a three-year compounded profit growth of approximately 22.2 per cent, from S$24.3 million for the financial year ended 31 December 2011 to S$36.3 million for the financial year ended 31 December 2013.

Alot of the companies who are doing IPO for the last 2years, coincidentally can exclude FY2008/9 results.