Company profile
Basic infor
Comfortdelgro is a land transport companies through the merger by the Comfort group and Delgro Corporation. Those two companies had started their business in 1970s. After merger, the Comfortdelgro has achieved significantly performance. Nowdays has become the second largest land transport company in the world and market leader in singapore. With the fleet size of more than 46,300 vehicles and operation in seven countries(China, the united kingdom, ireland, australia, malaysia and vietnam). The company’s business include bus, taxi, rail, car rental & leasing, automotive engineering services, vehicle inspection & testing services, driving centre, insurance broking services, outdoor advertising and car dealership.
Its vision
Its mission
Global network
Company history
The history of Comfortdelgro can be traced back to 1 April 2003. The corporation was formed through the merger of Comfor Group and DelGro Corporation.
In 2003, the world’s first fully automate underground heavy rail system started its service on 20 June, which is NorthEast line. NEL is operated by the subsidiary of ComfortDelgro company-SBS transit. Moreover, the Group take 70% stake in Vinataxi Company Limited which provide taxi services in Ho Chi Minh City.
In 2004
VICOM Ltd has, on 22 March 2004, entered into a conditional sale & purchase agreement with CIAS Enterprises Pte Ltd(CIAS) and ALPHA container Services Pte Ltd(ALPHA) to acquire their combined 41.5% share in vehicle inspection business, JIC Inspection Services Pte Ltd (JIC).
It is a year for ComfortDelGro to acquire equity stake and joint venture with Chinese company for them to push their land transport business in Chian.
The wholly-owned subsidiary, ComfortDelGro(Chian) Pte ltd entered into a conditional agreement to acquire Beijing Gong Tong Shi Dai Trading Co.,Ltd’s entire 80% stake in an existing vehicle inspection company called Beijing Tian Long Da Tian Vehicle Inspection Co.,Ltd, for RMB28 million, or about S$6 million. The company currently offers vehicle safety inspection and emission test services in Beijing where there are more than 2 million cars. It conducts an average of 55,ooo vehicle tests a year.
ComforDelGro (China) Pte Ltd entered into a $44 million joint venture contract with Shenyang Anyun Group Company to run bus operations in Shenyang, China. This new company is the third jonint venture of ComfortDelGro. And it is an important milestone investment for the Group in Shenyang.
Chendu ComfortDelGro Chang Yun Transportation is the fifth new joint venture company of ComfortDelGro Corporation, in which the Group hold 60% stake. This investment is the Group first major entry into the China’s long-distance bus market. This market provide the service for most China’s working and migrant class who need to commute between the work and home. In addition, the Group entered into four other Chengdu ventures.
ComfortDelGro’s wholly-owned UK bus subsidiary Metroline pay £6 million to acquire E.H Mundy Holdings Ltd, (EHMH) which has a bus and coach operation in London under Armchair Passenger Transport Company Limited.
In 2005
ComfortDelGro Corporation invest US$3 million in its second taxi joint venture project in Ho Chi Minh City, Vietnam, to expand its presence there.
In 2005
It is also a year of investment for Group to expand its business overseas.
ComfortDelGro corporation took 60%stake in Vietnam taxi company for us$3 million to expend its presence in Vietnam. In Australia, the Group hold 51% stake in the newly formed ComfortDelGro Cabcharge Pty Ltd. In September, ComfortDelGro and Stagecoach Group Plc enter into an agreement to jointly operate Scottish Citylink Coaches limited megabus.
The Group continue to invest in China to set up a largest driving school and pay $73.2 million to get the rights to operate 50 bus routes, 1,218 buses from Shenyang’s largest public bus operator.
2007-2008
In 2007 ComfortDelGro operated service in its second inter-city coach service in Ireland., which is second busies route. In March the Group acquired 70% stake in Your Taxi Ltd to increase its presence in the United Kingdom. Moreover, ComfortDelGro invested $17 million in a taxi joint venture in Nanjing, China to take 70% stake.
Organization structure
http://www.theofficialboard.com/org-chart/comfortdelgro
Mr. Jit Poh Lim , 72
Non Exec. Chairman, Chairman of Investment Committee, Chairman of Nominating Committee and Member of Remuneration Committee
Mr. Hong Pak Hong Kua , 68
Group Chief Exec. Officer, Managing Director, Non Independent Director and Member of Investment Committee
Mr. Heng Tan Tow , 56
Non Exec. Director, Chairman of Remuneration Committee and Member of Investment Committee
Mr. Chin Huat Wong , 63
Non Exec. Director, Chairman of Audit Committee and Member of Remuneration Committee
Mr. Ong Ah Heng , 68
Non Exec. Director, Member of Audit Committee and Member of Nominating Committee
Share price performance
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the graph above shows the performance of ComfortDelgro share price from 2006 to 2011. During 2006, the corporation’s share price fluctuate softly. In the first half of year 2007, share price increase rapidly. However, the share price started to drop from high of S$2.38 in April 2007 to S$1.10 in October 2008. 