Comfort Delgro

[CityFarmer]

A new competitor, who started off with a different yet strong perspective. Once one company in, there is a big jump in market share. The technique of "The enemy of my enemy is my friend"?  


New app offers cab firms response to Uber, GrabTaxi
28 Oct 2015 09:00
By Christopher Tan Senior Transport Correspondent

Another ride-booking app is coming to town. But instead of going head-on with taxi companies, London- and New York-based Karhoo wants to work with cab operators "to level the playing field".

Started by British entrepreneur Daniel Ishag, 41, Karhoo has been in talks with most of the taxi companies here to create a journey aggregator commuters can tap into.

"We are really excited about launching in Singapore in the first quarter of next year," he told The Straits Times via e-mail.

Karhoo's app is supposed to allow commuters to pick a cab or a private-hire car across companies, based on criteria such as cost, time of arrival and type of vehicle.
...
Source: Straits Times

This is definitely a more "incumbent-friendly" app...

Over 17,000 cabs signed on to new booking app
18 Nov 2015 09:00
By Adrian Lim

A new taxi booking app that will launch in Singapore only in the first quarter of next year has already signed up over 17,000 taxis.

Karhoo, founded by British entrepreneur Daniel Ishag, announced yesterday that it has inked a partnership with the island's biggest cab operator, ComfortDelGro.

The app lets commuters pick a cab across companies, based on criteria such as price, time of arrival and type of vehicle. They are given a choice of taxis nearest to them.

Mr Ishag, 41, the company's chief executive, said Karhoo is different from peer-to-peer apps that match taxi drivers to passengers, because it relays its customers' booking requests to the cab operators' existing despatch systems.

By being an aggregator for cab firms, Mr Ishag adds that Karhoo will "level the playing field" and "empower" incumbents by increasing the booking jobs they receive.
...
Source: Straits Times

[CityFarmer]

One of the GrabTaxi competitive advantages, is to explore customer needs, and to fulfill them fast...

New GrabTaxi feature pools both taxi and private vehicle drivers

SINGAPORE — GrabTaxi today (Nov 30) announced an upcoming feature for its app. “Flash”, which allows customers to book the nearest available vehicle — be it a taxi or private car — at the click of a button.

Previously, customers would have to choose either to book a taxi or a private car. But the new “Flash” feature combines both broadcasts, providing more convenience to those who care more about getting their ride quickly rather than what type of vehicle they get.
...
http://www.todayonline.com/tech/new-grab...le-drivers

[Nick]

http://rhbosk.ap.bdvision.ipreo.com/NSig...8767270639

A comprehensive report that covers comfort delgro as well as the local transport sector.

(Not Vested)

[CityFarmer]

A new competitor, who started off with a different yet strong perspective. Once one company in, there is a big jump in market share. The technique of "The enemy of my enemy is my friend"?  


New app offers cab firms response to Uber, GrabTaxi
28 Oct 2015 09:00
By Christopher Tan Senior Transport Correspondent

Another ride-booking app is coming to town. But instead of going head-on with taxi companies, London- and New York-based Karhoo wants to work with cab operators "to level the playing field".

Started by British entrepreneur Daniel Ishag, 41, Karhoo has been in talks with most of the taxi companies here to create a journey aggregator commuters can tap into.

"We are really excited about launching in Singapore in the first quarter of next year," he told The Straits Times via e-mail.

Karhoo's app is supposed to allow commuters to pick a cab or a private-hire car across companies, based on criteria such as cost, time of arrival and type of vehicle.
...
Source: Straits Times

This is definitely a more "incumbent-friendly" app...

Over 17,000 cabs signed on to new booking app
18 Nov 2015 09:00
By Adrian Lim

A new taxi booking app that will launch in Singapore only in the first quarter of next year has already signed up over 17,000 taxis.

Karhoo, founded by British entrepreneur Daniel Ishag, announced yesterday that it has inked a partnership with the island's biggest cab operator, ComfortDelGro.

The app lets commuters pick a cab across companies, based on criteria such as price, time of arrival and type of vehicle. They are given a choice of taxis nearest to them.

Mr Ishag, 41, the company's chief executive, said Karhoo is different from peer-to-peer apps that match taxi drivers to passengers, because it relays its customers' booking requests to the cab operators' existing despatch systems.

By being an aggregator for cab firms, Mr Ishag adds that Karhoo will "level the playing field" and "empower" incumbents by increasing the booking jobs they receive.
...
Source: Straits Times

One more taxi company joined, albeit the smallest one...

Taxi app Karhoo adds second fleet with Prime cabs
23 Dec 2015 09:00
By Adrian Lim

Taxi booking app Karhoo, which has already secured an agreement with ComfortDelGro, has added a second fleet of taxis to its platform.

A source close to the British start-up, which aims to launch here early next year, told The Straits Times it had inked a second deal with Prime, the island's smallest operator with over 850 taxis.
...
Source: Straits Times

[CY09]

http://www.straitstimes.com/singapore/fa...=EREC-16-1[ST_Newsletter_AM]-20160424-[Fare+cuts+by+Uber%2C+Grab+will+hurt+sector%3A+Taxi+body]&xts=538291

Interesting view and I like the last line by Dr Walter Theseira, "App companies are willing to lose some money now to gain market share, but the incumbents wouldn't want to do this after being profitable for so long."

IMO, I will support a price cut as the taxi industry has been supporting only Singaporeans. We should not be protecting too much.

[brattzz]

dun forget to load up Comfortdelgro during this brexit!!

panic selling by funds now!!

Buy-BUY-BUY!!!

[brattzz]

Dividend
A tax-exempt one-tier interim dividend of 4.25 cents per ordinary share has been declared.

Group
ComfortDelGro Corporation’s second quarter revenue decreased by $14.9 million or 1.4% to
$1.022 billion due mainly to an unfavourable foreign currency translation effect. Actual revenue
increased by $3.1 million during the quarter but this was eroded by a negative $18.0 million
foreign currency translation effect in which the weaker Sterling Pound accounted for $13.0 million,
the Australian Dollar accounted for $2.9 million, the Chinese Renminbi accounted for $2.0 million,
and the Malaysian Ringgit accounted for $0.1 million.
Group operating costs during the quarter fell by 1.8% or $16.9 million to $899.4 million as an
actual drop in operating costs of $1.0 million was aided by a positive foreign currency translation
effect of $15.9 million. The actual decrease of $1.0 million was due to lower fuel and electricity
costs, lower materials and consumables costs and lower payment for contract services offset by
higher staff costs, repairs and maintenance and depreciation costs.
Group operating profit increased by 1.7% or $2.0 million to $122.9 million even though it was
negatively impacted by an unfavourable currency translation of $2.1 million
Finance costs of $3.7 million decreased by 17.8% due mainly to lower interest expense in
Australia with the repayment of borrowings.
Net profit attributable to shareholders increased by 5.3% to $85.2 million during the quarter.
For the half-year ended 30 June 2016, Group revenue increased by 0.9% to $2.018 billion while
net profit attributable to shareholders grew by 6.8% to $158.6 million.
ComfortDelGro Managing Director and Group Chief Executive Officer, Mr Kua Hong Pak, said:
“Even while uncertainties continue to persist in the countries we operate in, we will work at
seeking suitable investment opportunities to sustain our long term growth.

Operations Review
• Bus:
At Group level, revenue from the bus business decreased by 4.6% to $513.5 million due to an
unfavourable currency translation of $14.2 million from the weaker Sterling Pound and Australian
Dollar, as well as the absence of special charter events in Singapore.
• Taxi:
At Group level, revenue for the taxi business increased by 2.8% to $340.2 million, with actual
revenue growth of $12.6 million partially eroded by a negative foreign currency translation effect of
$3.2 million from the weaker Sterling Pound, Chinese Renminbi and Australian Dollar.
• Rail:
Revenue for the rail business increased by 24.5% to $65.1 million. Average daily ridership for the
North East Line increased by 6.0% to 558,000, the Downtown Line by 204.8% to 212,000 and the
Punggol and Sengkang LRTs by 15.2% to 112,000.
• Inspection and Testing Services:
Revenue for the inspection and testing business decreased by 5.3% to $26.9 million due to lower
business volumes.
Commentary
Bus revenue in Singapore is expected to be maintained. The Singapore bus business under SBS
Transit has entered in the Negotiated Contract with the Land Transport Authority for the operation
of public bus services under the Bus Contracting Model (BCM) with effect from 1 September 2016.
Under the BCM, the bus revenue will comprise a service fee for the provision of bus services and
revenue from advertising and rental. In addition, the LTA will pay SBS Transit a leasing fee for the
use of its existing fleet based on the depreciation of the buses over the statutory lifespan.
Revenue from the Australia bus business is expected to be maintained while revenue from the UK
bus business is expected to decrease with the weaker Sterling Pound.
Revenue from the rail business is expected to increase with higher ridership from Downtown Line
2.
Revenue from the bus station business in Guangzhou is expected to be lower with increasing
competition from the expanding high speed rail network.
Revenue from the taxi business is expected to be maintained.
Revenue from the automotive engineering services business is expected to be lower as the price
of diesel sold to our taxi drivers is expected to remain low.
Revenue from the driving centre business is expected to be maintained.
Revenue from the inspection and testing services business is expected to be lower.
Revenue from the car rental and leasing business is expected to be maintained.
Costs, in particular staff costs, are expected to be higher.

[brattzz]

suddenly STI BULL again,
general sentiment is good? kinda strange since Key Indicators are RED RED RED...
https://www.mti.gov.sg/Pages/home.aspx

wonder what's going on?

[Bytesizedinvestments]

suddenly STI BULL again,
general sentiment is good? kinda strange since Key Indicators are RED RED RED...
https://www.mti.gov.sg/Pages/home.aspx

wonder what's going on?

Could it be the same rhetoric of low (negative) interest and cheap money finding its way back after into the market the recent early 2016 drop?

[BlueKelah]

suddenly STI BULL again,
general sentiment is good? kinda strange since Key Indicators are RED RED RED...
https://www.mti.gov.sg/Pages/home.aspx

wonder what's going on?

Could it be the same rhetoric of low (negative) interest and cheap money finding its way back after into the market the recent early 2016 drop?

Likely just a bump from the recent uptrend in oil price and commodities caused by the so called "OPEC and Russia oil freeze talks" again ROFL...
dun kena trick lah, push the index up a bit so the big boys can shed some shares. After this weekend likely STI below 2800 again, many listco having losses or profit recession and economy so bad how to BULL.

STI lost Noble liao, next week say bye bye to SembCorp Marine.