Did ComfortDelgro sell Shenyang for SGD23million loss which TODAYdidn’t highlight?
You got to love Google and the Internet where you can easily search on past business news.
TODAYonline Business section wrote that “ComfortDelgro said on Monday its wholly owned subsidiary in China has sold its entire interest in the registered capital of Shenyang ComfortDelGro Bus Co Ltd for 248.35 million yuan (S$50 million)”.
Google search easily showed that ComfortDelgro bought the same company in 2005 for S$73 million.
A forumer at Shareinvestor pasted this article from Dow Jones Newswire,
“1616 [Dow Jones] STOCK CALL: Citigroup keeps Comfort (C52.SG) as Buy with $1.70 target, as acquisition of 100%-owned bus franchise for $73.2 million will further boost its presence in Shenyang with commanding 40% market share of public bus sector in city; this should also complement its existing bus business there, creating scale, synergies. Adds share price underpinned by attractive 6.9% yield. Says not changing forecasts ahead of 3Q05 results due Nov. 11; eyes net profit of $50 million for quarter. Stock last +1.4% at $1.50.(CAW)
November 02, 2005 03:16 ET (08:16 GMT)”.
If you can’t trust forums, there is always SGX..
Nice omission or lack of research, Today!
May 21, 2012