ComfortDelGro

[kennynah]

ok then, as a shareholder...i am formally complaining about your company's unethical practice of not increasing the frequency of arriving trains, that results in consistently overcrowding of passengers....

[ishak]

As shareholder, i am evaluating whether to employ sardines packers from japan.

[kennynah]

evil.....i no friend u anymore...hahahaha....joke only lah...

u see...that's why we need real competition...not bluff bluff type...try to pull wool over people's eyes... make believe competition in this sector...

and you were saying...we are a free economy? bull....

[ishak]

you are the evil one, any higher frequency the trains will not have enough safety distance. Haha.
Free economy does not mean no monopoly exists. Our current state is that the entry cost is too high to unseat the incumbent.

Reply tomorrow, not easy to type in a e51.

[kennynah]

oh please....HK's MTR trains arrive once every 1 min during peak periods...i dont hear of them having train crashes...

e51 difficult to post.... i give u a solution...

first, download a voice recognition s/w....

[ishak]

ComfortDelGro $1.56 | Underperform

Credit Suisse downgrades the transport operator from “neutral” and cuts the price target to $1.55 from $1.80. “Lower oil
prices could offer a short-term reprieve for ComfortDelGro, but they will remain volatile in our view and are likely to outpace ridership gains in its Singapore rail/bus operations and upside on potential fare hikes from October,” Credit Suisse says.

[ishak]

COMFORTDELGRO WILL NOT PROCEED WITH THE ACQUISITION OF CUSTOM COACHES
21-Aug-2008 12:31:23

ComfortDelGro Corporation Limited wishes to announce that following the completion of due diligence, its Australian subsidiary, ComfortDelGro Cabcharge Pty Ltd will not proceed with the proposed acquisition of bus builder, Custom Coaches Pty Ltd.

[ishak]

ComfortDelgro Corporation (S$1.55) - Limited downside with lower fuel prices
03 Sep 2008

Going on the defensive
Decline in oil prices. The decline in oil prices is a welcome reprieve as ComfortDelgro does not hedge its diesel requirements but have fixed discounts from its suppliers, which would still track market prices. Energy costs constituted 8.3% of CD’s revenue based on the recent Jun 08 quarter results. We moderate our assumptions on fuel costs for CD as we believe it would be a matter of time before diesel prices dip to lower levels and the diesel subsidy given to taxi drivers would be deemed unnecessary.

Improving ridership. Recent government initiatives to encourage more people to embrace public transport has been gaining momemtum. With petrol prices still relatively high and the recent doubling of ERP charges, public transport ridership numbers have been highly encouraging, already with some months posting double-digit year-on-year growth, despite the backdrop of a slowing economy.

Outlook. Huge infrastructure spending worth S$50bn until 2020 on both the rail and road network will help to improve connectivity as well as ridership numbers in the future. Near term catalysts for the sector would be the fare adjustment application made to the Public Transport Council and the upward adjustment of the transfer rebate for commuters that make more than one transfer. We believe this to be either an interim measure or part of a final solution to the proposed distance-based fare system.

Unique asset class. The Singapore public transportation sector is a unique asset class, where business operations are relatively insulated from weak demand and rising cost of operations. Government policies are always well positioned to safeguard the interests of the commuting public while balancing the need for private sector operators to remain profitable.

Valuation and recommendation
Maintain Outperform and raise DCF target price to S$2.28 from S$2.18. We upgrade our forecasts by between 2-14% after moderating our fuel assumptions. On our unchanged DCF valuation (WACC 9.2%, terminal growth 2%), our target price is raised to S$2.28. The stock is well-supported by prospective dividend yields of over 5%.

[ishak]

See http://wookup.com/finance/forum/viewtopic.php?f=31&t=791&p=24361#p24361

[winston]

Not vested.

Capital Group emerged as a substantial shareholder of COMFORT DELGRO with the purchase of 3,827,000 shares at $1.47 each, raising holding to 106.85 mln shares.