Singapore Tightens Property Measures to Cool Housing Market
The changes take effect for all private residential properties purchased from Friday, according to a joint statement from the Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore late Thursday.
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Yahoo
an hour ago
- Yahoo
If You Bought 1,000 ComfortDelGro Shares at IPO, Here's What They're Worth Now
ComfortDelGro Corporation (SGX: C52), or CDG, has a long and interesting history. The land transport giant was formed back in 2003 with the merger of Comfort and DelGro by way of a scheme of arrangement. This scheme was approved by the High Court of Singapore on 21 March 2003, and shares of CDG were listed on 31 March of the same year. Assuming you had bought 1,000 shares of CDG on the first trading day of the newly-merged company, here's what you will end up with. A 1,000-share investment in CDG back then would have cost around S$790 (excluding brokerage fees) as shares of the group closed at S$0.79 on the day of listing. Fast forward 22 years, and shares of CDG closed at S$1.43 on 2 July 2025, meaning your shares will be worth S$1,430. The land transport giant provided a lacklustre compound annual growth rate (CAGR) of just 2.7% over this period, barely enough to beat inflation. But hold on – we will be remiss if we do not include all the dividends you would have received over the years. From 2003 to 2024, CDG paid out a total dividend of S$1.6753 per share, so your 1,000 shares would have given you S$1,675.30 of dividends. If you add this to the value of your shares, it will come up to S$3,105.30, giving you a decent total return CAGR of 6.4%. The surprise here is that capital gains would have netted you just S$640 (i.e. S$1,430 minus S$790), but your total dividends will be 2.5 times this capital gain. This simple exercise shows the power of dividends in boosting your total return. But you may be wondering – what's next for CDG? Can it continue to deliver healthy capital gains and increasing dividends? CDG reported improving financials for 2024 as the effects of COVID-19 slowly wear off. Revenue rose 15.4% year on year to S$4.5 billion while net profit increased by 16.6% year on year to S$210.5 million. When compared with 2003's results, revenue increased by 142.5% from S$1.8 billion, but net profit increased by a lower 57.2% from S$133.9 million. This smaller increase in net profit could be the reason for the share price underperformance over these years. When the annual return is computed, this works out to a 21-year CAGR of 4.3% for CDG's revenue from 2003 to 2024, while net profit improved by just a 2.2% CAGR. There is a silver lining, though. For its first quarter of 2025 (1Q 2025) business update, CDG saw revenue rise 16.4% year on year to S$1.17 billion, arising from contributions from recent acquisitions of A2B and Addison Lee. Net profit climbed 19% year on year to S$48.3 million. CDG is relying on more acquisitive growth in recent years to power its top and bottom lines. The group announced the acquisition of the Addison Lee group in October last year, adding a premium private hire, courier, and black taxi provider in London. Back in December 2023, CDG purchased A2B, a leading Australian transportation provider with more than 8,00 vehicles in its network. And in February 2024, CDG acquired CMAC Group, a UK ground transportation management specialist, for around S$135.4 million. Not forgetting its home market of Singapore, CDG also topped up another 10% stake in Ming Chuan Transportation in March 2023, making it a wholly-owned subsidiary. Ming Chuan is one of the largest wheelchair transport service providers in Singapore. It's clear from these recent acquisitions that CDG is broadening its reach overseas as growth in Singapore becomes increasingly difficult. For 1Q 2025, overseas revenue made up 52.6% of CDG's total group revenue, up sharply from just 43.3% in the prior year. Management announced several business developments that further highlight the group's overseas growth ambitions. CDG commenced a two-year pilot programme to deploy commercial robotaxi services in Guangzhou, China, back in March this year. The group also formed a consortium with RATP to bid for the upcoming Copenhagen metro system tender. Back home, CDG is facing intensifying competition from other ride-hailing companies such as Grab Holdings (NASDAQ: GRAB). Grab recently obtained approval to start a new taxi fleet from the Land Transport Authority, which issued a street hail operator licence to the superapp. The licence is valid for 10 years and will intensify competition in an already crowded taxi market. CDG seems to be on the right track. The group is reducing its reliance on Singapore and expanding its presence globally through business initiatives and acquisitions. Already, revenue from outside of Singapore made up more than half of the group's revenue for 1Q 2025. Of course, investors will need to watch for the group's operating and net profit to see if these acquisitions deliver healthy returns over time. If they do, CDG could deliver improved capital returns and dividends to shareholders in the future. If you're looking for the best value buys in the stock market, read Get Smart. It will help you spot opportunities most investors overlook. Each issue gives you the context you need to recognise bargains and act confidently. Join for free and enjoy the advantage of deep investing insight delivered straight to your inbox every week. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Royston Yang does not own shares in any of the companies mentioned. The post If You Bought 1,000 ComfortDelGro Shares at IPO, Here's What They're Worth Now appeared first on The Smart Investor. 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Bloomberg
an hour ago
- Bloomberg
Thai Bourse Looking to Improve Liquidity to Ease Stock Rout
Thailand's stock exchange operator will look at various measures to support the market as a deepening political turmoil weighs on investor confidence. 'We are looking to enhance liquidity in the market and attract investors back through communication,' Asadej Kongsiri, the president of Stock Exchange of Thailand, said in a Bloomberg TV interview on Friday. However, 'a short selling ban is probably not on the table at the moment,' he added.
Skift
2 hours ago
- Skift
What Destinations Get Wrong (and Right) About the Muslim Travel Market
Destinations investing early and comprehensively in halal-friendly travel are likely to gain long-term competitive advantage as this sector continues to grow. The global Muslim travel market is expected to reach $235 billion by 2030, up from $189 billion in 2024, according to the 2025 Mastercard-CrescentRating Global Muslim Travel Index (GMTI), released last month. The Muslim, or halal, travel sector caters to the specific needs of Muslim travelers, including halal-certified food, access to prayer spaces, and accommodations that align with Islamic values. The Muslim travel index, a widely cited benchmark, tracks this segment and ranks 145 destinations worldwide using a four-point framework: Access, Communication, Environment, and Services. The report attributes the sector's projected growth to three key trends: a rising global Muslim population, from 2.12 billion in 2024 to a projected 2.47 billion by 2034, increasing disposable income, and better access to travel infrastructure. In 2024, international arrivals of Muslim travelers were 10% higher than pre-pandemic levels. Malaysia and Singapore On Top Southeast Asia continues to outperform other regions in attracting Muslim travelers. Malaysia once again ranked first among Muslim-majority destinations. Singapore leads all non-Muslim-majority countries, thanks to its extensive halal food offerings, inclusive tourism services, and traveler-friendly airport infrastructure. 'Thailand has been targeting the halal travel market for a long time, primarily to attract tourists from Malaysia and Indonesia,' said Fazal Bahardeen, CEO of CrescentRating. He noted that the Philippines is becoming a serious contender, 'They're (The Philippines) the first non-Muslim destination to offer a halal-friendly beach in Boracay for Muslim families.' The Philippines Department of Tourism created a halal travel portfolio, expanded halal food certifications, and launched awareness training for tourism operators. Speaking at the Skift Asia Forum, Christina Garcia Frasco, tourism secretary of the Philippines, discussed how there has been a very serious push towards expanding the Philippines' Muslim-friendly tourism portfolio. Other Asian destinations including Taiwan, Hong Kong, Japan, South Korea, Vietnam, and Cambodia are also investing in halal-friendly offerings. Hong Kong and Taiwan ranked third and fourth, respectively, among non-Muslim-majority destinations in the travel index. What Muslim Travelers Actually Want 'Many people have a misconception that halal travel is limited to the Middle East,' said Azwan Ariffin of Tripfez, a Malaysia-based online travel agency focused on Muslim-friendly travel. 'In reality, any destination can attract halal travelers by offering food and facilities which meet their religious requirements.' Bahardeen said that Muslim travelers want many of the same things other travelers do, such as seamless digital services, cashless transactions, and streamlined immigration, but with an added layer of faith-based considerations. 'The Muslim market is not a behemoth,' he said. 'It's segmented into three categories, depending on how strictly Muslim travelers observe their faith: 20% are 'strictly practicing,' 60% are 'practicing,' and 20% are 'less practicing.'' Destinations must understand that each of these groups has different expectations. 'Strictly practicing Muslims may require dedicated prayer facilities and halal-only dining and accommodation options,' Bahardeen said. 'Less practicing Muslims may need halal food available but can be more flexible on other options.' Muslim-majority countries are often well positioned to cater to all levels of practice. Others may be limited by cultural norms, infrastructure, or funding. 'For Muslims, there are some overall essential requirements for a destination, or 'need to have,'' Bahardeen said. 'For example, halal food, access to prayer spaces, water-friendly toilets, and no Islamophobia. Then there are qualities that are 'good to have,' such as fasting-friendly hotels and Muslim-friendly experiences.' The final tier, described as 'nice to have,' includes destinations with no non-halal food or alcohol and separate activities for men and women. Accessibility Still Overlooked Many Muslim travelers travel with extended family, including elderly or disabled relatives. According to United Nations Tourism, nearly 50% of people over age 60 have a disability, yet most global destinations are still not designed with their needs in mind. Muslim travelers in particular need hotels, prayer areas, and transportation options that accommodate wheelchairs and limited mobility. 'Accessibility is a neglected area that we are trying to push,' Bahardeen said. The travel index added accessibility as a standalone category in 2023, highlighting a major gap in tourism readiness. Gen Z and Millennials Reshaping the Market Younger Muslim travelers are driving much of the sector's growth. Millennials and Gen Z Muslims tend to be more mobile-first, experience-oriented, and digitally fluent. 'Younger Muslim travelers are more flexible, less strict than older generations,' said Ariffin. 'For example, requiring that a hotel be clean, but not necessarily halal.' They are also a powerful marketing force. 'Younger Muslims are willing to be more adventurous and independent and can have a big positive impact on travel markets through their social media,' he said. These travelers also help destinations smooth out seasonal peaks. Many plan trips around Islamic holidays, such as Ramadan and Eid, which fall at different times each year and can boost tourism during otherwise slower periods. 'Leveraging the Muslim travel market also gives a destination more economic stability in case other tourist sectors fall off,' Bahardeen said. CrescentRating CEO Fazal Bahardeen at the Skift Asia Forum
