Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>1H 24 result was not disappointing, as OPM improved thanks to a few supportive measures that boosted revenue. </li>
<li>Taxi operating profit margin has improved since 2H 23 and is still producing a higher number than last year, thanks to the ZIG app service charge. </li>
<li>
<a href="https://www.smartkarma.com/entities/comfortdelgro-corp-ltd" target="_blank" data-smartkarma-citation="entities:497:1" rel="noopener">Comfortdelgro Corp (CD SP)</a> is now trading at 1.2x PBR against 2x PBR 5 years ago pre COVID. </li>
</ul>


1H 24 result was not disappointing, as OPM improved thanks to a few supportive measures that boosted revenue. 
Taxi operating profit margin has improved since 2H 23 and is still producing a higher number than last year, thanks to the ZIG app service charge. 

Comfortdelgro Corp (CD SP) is now trading at 1.2x PBR against 2x PBR 5 years ago pre COVID. 


SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’ Land transport operator ComfortDelGro is switching its fleet of over 40,000 vehicles in 12 countries to cleaner energy ones as part of its sustainability drive.</li><li>Jong explains: “We operate in 12 countries with a total fleet of over 40,000 vehicles spanning taxis, buses, trains and more.</li></ul>

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’ Land transport operator ComfortDelGro is switching its fleet of over 40,000 vehicles in 12 countries to cleaner energy ones as part of its sustainability drive.Jong explains: “We operate in 12 countries with a total fleet of over 40,000 vehicles spanning taxis, buses, trains and more.

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’

<ul><li>REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an approximate weight of 0.8 per cent.</li><li>FCT is also the second Frasers Property-sponsored Reit to join the benchmark after Frasers Logistics & Commercial Trust.</li><li>The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be: CapitaLand Ascott Trust, ComfortDelGro, Keppel DC Reit, Keppel Reit, and Suntec Reit.</li></ul>

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an approximate weight of 0.8 per cent.FCT is also the second Frasers Property-sponsored Reit to join the benchmark after Frasers Logistics & Commercial Trust.The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be: CapitaLand Ascott Trust, ComfortDelGro, Keppel DC Reit, Keppel Reit, and Suntec Reit.

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18

<ul>
<li>
<a href="https://www.smartkarma.com/entities/comfortdelgro-corp-ltd" target="_blank" data-smartkarma-citation="entities:497:1" rel="noopener">Comfortdelgro Corp (CD SP)</a> share price has underperformed its tourism related transport operator peers.</li>
<li>Key drivers are still strong, including the expected influx of Chinese tourists from visa-free travel arrangements.</li>
<li>Valuation is still compelling, and it is not too late to own it.</li>
</ul>



Comfortdelgro Corp (CD SP) share price has underperformed its tourism related transport operator peers.
Key drivers are still strong, including the expected influx of Chinese tourists from visa-free travel arrangements.
Valuation is still compelling, and it is not too late to own it.


Comfortdelgro (CD): March on Chinese Tourists

<ul><li>CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan 26.</li><li>It also led the share buyback consideration tally in January, followed by Yangzijiang Financial Holding, Singapore Technologies Engineering, Venture Corporation and OUE.</li><li>Aside from Jardine Matheson Holdings, ComfortDelGro also ranked among the 10 stocks that booked the highest net institutional inflow in January.</li></ul>

CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan 26.It also led the share buyback consideration tally in January, followed by Yangzijiang Financial Holding, Singapore Technologies Engineering, Venture Corporation and OUE.Aside from Jardine Matheson Holdings, ComfortDelGro also ranked among the 10 stocks that booked the highest net institutional inflow in January.

Silchester takes ComfortDelGro stake above 7%

Singapore

ComfortDelGro Corporation Limited provides bus, taxi, car leasing and rental, automotive engineering, maintenance services, and diesel sales.  The Group also provides investment trading and operates vehicle inspection and assessment services, and advertising services.

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Comfortdelgro Corp (CD SP)

Comfortdelgro (CD): 1H Decent Result

Promising 1H 24 results thanks to Zig service charge and acquisition of A2B. In the UK and Australia, taxi fare/km is much higher than in...

Henry Soediarko

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’ Land...

Singapore Exchange Ltd (SGX)

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an...

Singapore Exchange Ltd (SGX)

Comfortdelgro (CD): March on Chinese Tourists

Comfortdelgro Corp's share price lags behind tourism transport peers despite strong drivers like Chinese tourist influx and compelling valuation.

Henry Soediarko

Silchester takes ComfortDelGro stake above 7%

CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Comfortdelgro (CD): 1H Decent Result

Promising 1H 24 results thanks to Zig service charge and acquisition of A2B. In the UK and Australia, taxi fare/km is much higher than in...

Henry Soediarko

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’

ESG Brew with ComfortDelGro’s Group Chief Sustainability and Risk Officer: ‘Our transition to cleaner energy vehicles will be a game-changer’ Land...

Singapore Exchange Ltd (SGX)

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18

REIT Watch - Frasers Centrepoint Trust to join STI from Mar 18 At a market capitalisation of S$3.9 billion, FCT will join the STI with an...

Singapore Exchange Ltd (SGX)

Comfortdelgro (CD): March on Chinese Tourists

​Comfortdelgro Corp's share price lags behind tourism transport peers despite strong drivers like Chinese tourist influx and compelling valuation.

Henry Soediarko

Silchester takes ComfortDelGro stake above 7%

CapitaLand Investment again led the buyback consideration tally, buying back 5 million shares at an average price of S$2.92 per share on Jan...

Singapore Exchange Ltd (SGX)

Comfortdelgro Corp's share price lags behind tourism transport peers despite strong drivers like Chinese tourist influx and compelling valuation.