Comfort Delgro

[touzi]

Their app has been around for quite sometime but used by/for the Taxis only. Now they are taking on private vehicles. Probably another asset light strategy.

[weijian]

A 85% cut in dividend compared to FY19, ouch! CDG's listed subsidiaries are paying out ~35-50% less dividend YoY and all their dividends (~28mil) are been used by CDG to fund their 31mil of dividends.

COMFORTDELGRO TURNS IN FULL-YEAR REVENUE OF $3.2 BILLION

A first and final tax-exempt one-tier dividend of 1.43 cents per share has been proposed. This represents a 50% payout of the profit attributable to shareholders for the year under review.

Mr Lim thanked shareholders for their strong support during these “very trying times”. “We did not declare a mid-year dividend – the first time in our history that we failed to do so. It was necessary to conserve cash in an environment which called for prudence. As we end the year, we felt it was important for us to extend a gesture of thanks to our shareholders and this is why we have proposed a small dividend based on our declared dividend policy guidelines even though full recovery remains uncertain,” he said.

FY20 ppt: https://links.sgx.com/FileOpen/CDG%20-%2...eID=648305
FY20 PR: https://links.sgx.com/FileOpen/CDG%20-%2...eID=648306
FY20 results: https://links.sgx.com/FileOpen/CDG%20-%2...eID=648304

[brattzz]

Pte-Public-companies again, losing money -46milos, yet can take gov covid19 grants, and still give out dividends? :O :O how is that ethnically correct to taxpayers?  CDG has to return some of the grants!! :O :O :O

[pianist]

Just wondering if smrt also receives the govt grant since its is a wholly owned govt entity

[r0n]

Just wondering if smrt also receives the govt grant since its is a wholly owned govt entity

Everybody receives JSS and all the other government grants automatically, but the company may choose to return the money if they think they do not need it.

[weijian]

CDG is the latest to jump on the bandwagon of "transform and unlock value". If CDG is focusing on electrification (according to AR20, it is bidding for the electrical charging points announced in the last budget), then it is not going to be cheap. The potential early renewal of its cars/buses from conventional engines to electric batteries will not be cheap too.

If the parent needs money, the logical way is to ask the child for it. Will all this probably mean further good news for shareholders of its listed subsidiaries VICOM and to an extent, SBS Transit?

COMFORTDELGRO SEEKS TO UNLOCK VALUE IN AUSTRALIA

ComfortDelGro Corporation is exploring various options to unlock the value of its assets in Australia, where it is one of the largest privately-owned bus operators. The move, which could take a variety of forms including a partial sale of assets or an initial public offering, comes 16 years after ComfortDelGro first began operations Down Under through the acquisition of Sydney bus operator, the Westbus Group

Chairman Lim Jit Poh, who had indicated in the Group’s 2020 Annual Report that plans were “afoot to unlock the Australian assets”, said: “As part of a strategic review of our businesses, and a new focus on renewable energy, we have been looking at our global portfolio to see where we can unlock value for shareholders as well as investing in new technologies including electrification.”

https://links.sgx.com/FileOpen/Media%20R...eID=666022

[touzi]

Comfort launched a new app, ZIG back in March, more like an attempt at super app actually since it includes F&B. I have signed up but yet to use it. I find it confusing because the original comfort app is still around. Why do they want to maintain 2 apps? Anybody has found a reason to use ZIG? How does it compared with Grab?

[opmi]

Yes, when they gave out unlimited use $3 promo code....

[smallcaps]

https://www.straitstimes.com/singapore/t...y-year-end

ComfortDelGro looking to float Australian unit by year end

...
ComfortDelGro Corp is looking to float its wholly owned Australian subsidiary by the end of the year.
...
(IPO) will exclude the group's cab business in Perth.
...
With a total investment of $1.17 billion to date, Australia is now the group's single largest overseas operation.
For the year ended last Dec 31, the Australian businesses generated revenue of $608 million.
...

[weijian]

Many folks who are more in tuned with the local SGX market, look to CDG as a "no brainer" stock for covid-19 recovery. This is because as Spore opens up, everyone returns to their workplace and hence public and private transport demand will resume. With a fixed large cost base from its assets, its bottom line improvement will scale.

But in the last 3-6 months, it is starting to become evident than this is not the cause with accelerating inflation affecting input costs. And from the topline perspective, unless you are on the cost plus basis, you would have a big problem raising charges as it will be extremely politically sensitive (in view of all other costs that are increasing, politicians will be navigating a very tricky path in the near future)

COVID-19 update for 1Q2022

https://links.sgx.com/FileOpen/1Q2022%20...eID=717185