Who is the real beneficiary for taxi fare increases ?
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CDG 3 mths net profit is $65m. After fare hike it attracted more & more new drivers(taking new taxis) so much so that these bew drivers are having hard time to look for relief. They are all mislead that driving taxi earns even more money w fare hike. But now too late for them to learn the lesson,retutn taxi befoe 1 yr penalty is $3k.
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Ya loh!!!! KNN bus operation losing money even if employ ATs bus captain. No wonder accident at fault also dun want to pay me 100%. Nevermind lim peh lawyer will claim them gao gao in court....And TAXI make them huat huat still KNN anyhow sack here sack there and give lim peh warning letter...CCB if 1 day everyone throw keys then they know....Phuiiiii
SINGAPORE: ComfortDelGro has posted a second quarter net profit of $65.0 million, up 8.5 per cent year-on-year.
Revenue rose 5 per cent to $884.9 million.
The world's second largest land transport company says its taxi business accounted for the bulk of the increase in sales.
For the half year ended June 30, 2012, net profit grew 7.7 per cent to $118.5 million, while revenue increased by 5.7 per cent to $1.74 billion.
That brought earnings per share for the first half to 5.66 cents.
ComfortDelGro's Chief Executive Officer, Mr Kua Hong Pak, said: "We continued to grow our revenue and profit in the quarter despite the impact of cost pressures, particularly in the Singapore bus and rail businesses. We will continue to work hard at growing our topline while staying vigilant on costs."
Currently, overseas ventures account for 40.8 per cent of group revenue. ComfortDelGro says it aims to derive 70 per cent of its total revenue from overseas in the medium term.
Notably, overseas profit contribution accounted for 95.1 per cent of group bus operating profit. Overseas bus operating profit increased $1.2 million in the second quarter.
That has helped to mitigate, but not fully offset the operating loss from its bus business in Singapore. The core scheduled bus business under SBS Transit in Singapore suffered an operating loss of $4.8 million in the second quarter on higher staff and depreciation costs.
The company expects revenue from Singapore bus and rail to increase from growth in rider-ship. It added that "in general pressures on costs will continue to be felt."
It declared an interim dividend of 2.9 cents a share, up from 2.7 cents this time last year. -
No wonder Chris Reed wants to enter into Taxi business.
The Government is correct in attracting Foreign Talents to expose the loopholes.
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Why do u ppl say CDG is the real benefit from the recent fare increase?
All the full fare increase goes to driver right?
what CDG take back?
In fact, the company "suffer" from the decrease in calls during that period.
After the increase, comes the decrease in diesel, not once but three times right?
All this while, does the rental increase? NO right? So where does the benefits comes from?
In fact, this 65m is already profit long long ago, the increase got nothing to do with it. In fact, the increases might have eaten part of the profit which might be more.
I think one should know that the big part of the revenue came from the call centre.
In fact, the least profit came from leasing out the taxi to hirers with reliefs. These people really whack the cab 24 hours non stop which results in higher servicing cost.
Maybe the most lucrative sources comes from those hirers OMG with less than 100 km clock a day. As long as money(rental) comes in swee swee everyday, who is making noise? This is the part that LTA got to step in to handle, sooner or later.
So in conclusion, does the increase really makes CDG richer or otherwise?
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For illustration: 1 taxi rental daily profit $1. 10 taxis daily profit $10 100 taxis daily profit $100.
Its all a numbers game.
Expecting CDG to double their profits in the next 4 quarters?
Easy mah...CDG CEO can just ask PAP to bring in more FTs and bring our population to 10 millions
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b4 fare increase, cdg alot empty cab parking at bk yard,
after fare increade+ cng tac 20cent..
take cdg taci nid wait few month..
see the diff?
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The coy earn the $0.02 from each jump. Forget about GST? They can claim back from GST@IRAS. That will definately work out a lot of $xxxxxxxxx. Not only your rentals, diseals, workshop, commercail decals and your accident excess. So on their FY2011, so many profits. BONUS BONUS.
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PAP.
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I believe both u-ask-for-it and Bing James have your point.
If lets say one year ago, YOU are task to map out a profit strategy for CDG. How would you go about? But there is one condition, that you are not allowed to increase taxi rental.
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To make money wthout increasing the rental, you got to rent out more taxis.
Plus charge a levy on Services (Booking System) provided to the drivers.
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The Booking system is easy to resolve.
Put a big budget on it to make the system desirable. Passengers and cabbies will use it and the profits will flow in.
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Now Renting out more Taxis is a bit tricky.
You can order more Taxis but how to get potential drivers to sign up?
That problem can be resolved by spreading the propaganda that Taxi Driving is lucrative.
Pay the media (evening chinese papers) to report on lucrative earnings. $5000 per month, $6000 per month. Got proof some more, Got interview the cabbies some more.
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So now you got a whole lot of hopeful Taxi Drivers on the road.
Diluting the business of those already on the road.
Taxi drivers have to slot 10 hours to earn a decent living.
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So now you tell me,
how does the sufferings of the Taxi Drivers be related to the profits of CDG?
You pay almost the same rental as a year ago what....
Plus now you get super booking system.
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Dont blame CDG (I am not related to the profits of CDG)
Blame it on the newbies who thinks that Taxi Driving is lucrative.
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Originally posted by StriveOn:
Now Renting out more Taxis is a bit tricky.
You can order more Taxis but how to get potential drivers to sign up?
That problem can be resolved by spreading the propaganda that Taxi Driving is lucrative.
Pay the media (evening chinese papers) to report on lucrative earnings. $5000 per month, $6000 per month. Got proof some more, Got interview the cabbies some more.
And free ad here.....
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Originally posted by Bingjames:
Why do u ppl say CDG is the real benefit from the recent fare increase?
All the full fare increase goes to driver right?
what CDG take back?
In fact, the company "suffer" from the decrease in calls during that period.
If the company depends on calls for revenue and are suffering as you said, let Malaysia Taxi handle it.
Malaysia Taxi drivers own their their taxis. Loss of income in calls, Taxi Drivers suffer.
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all cannon here cannon there ............. in the end who suffer??
those of us still on the roads tats y i fully support sch principal
who F anyone who likes to post income here....................
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Originally posted by StriveOn:
Dont blame CDG (I am not related to the profits of CDG)
Blame it on the newbies who thinks that Taxi Driving is lucrative.
we are once new too, got good money..... only idiot will siam.
But at the end, idiot is those who rush in and kenna con and kpkb thereafter. (i am one
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like it or not, every company, CEO have to project an increment in the revenue every year and work towards it.
If the CEO is unable to meet up with the quota, he/she is unfit to hold the position. Moreover, they have all the connection, from the government to the media to support.
Every CEO will want to outshine himself, they will usually do better then the projected quota.
This goes the same with our country, government bodies and minister, as our country is running like a company.
As years goes by, these revenue is getting bigger and bigger. It is sky high figure that beyond our imagination. But those smarties will usually make it look small, increment of 5%.
We can only pray hard and live thru their mercy, praying hard for them not to be too greedy, pushing it to a substantial increment (like MBT) . Living thru their mercy to increase but still left some meat for us.
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From Bosses, to big Bosses, to Politician........... are the same
They are on the upper hand to control what they want.
When they got what they want, when they are given what they want, when you have given them what they want............. then they "give back" what you want.
i'm glad that CDG got nett 65m and it's an increment.
hopefully it is what they want, if not......... there are ways to get it directly. If can't......... they have "link" bodies to get it indirectly.
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Personally never drive other company before........
But I notice, whenever someone join or switch to CDG, they will start to appreciate what is real taxi driving......
Because of that emotional feeling, CDG dare to declare their PROFIT.....
Even when you tio call, pay call levy never mind, pax pay card, than we kepoh collect 10% for CDG, also feel is OK.....business opportunity?.....
Haiz.....whatever la.......happy tio ho......
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Originally posted by Rbs70:
Personally never drive other company before........
But I notice, whenever someone join or switch to CDG, they will start to appreciate what is real taxi driving......
Because of that emotional feeling, CDG dare to declare their PROFIT.....
Even when you tio call, pay call levy never mind, pax pay card, than we kepoh collect 10% for CDG, also feel is OK.....business opportunity?.....
Haiz.....whatever la.......happy tio ho......
you never drive for other company before? then you got to...... stand one side
Perhap you are right, i do appreciate, but not to the level of a die hard fans.
CDG got to declare their profit, is because they are public company, not of that emotional feeling.
When i'm at Boon Lay, their voucher job got charge extra too, also nothing for the member. I take this as a guideline, no issue with e-voucher or comfort card job.
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i really don not have time to find out who make how much. i cover my rental also not enough energy liao
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Well, ignorance is a bliss.
You can be right, at times, not knowing is better than knowing.