Out of the Comfort zone and into the frying pan

Ref: ComfortDelGro revises taxi fare structure upwards

ComfortDelGro profit up 12.5% to $69.1m
Its 3Q $877m revenue would have been stronger had it not been for the negative translation effect of the weaker currencies in countries where it also has business interests such as the UK, China and Vietnam.

ComfortDelGro posts 12.5% rise in 3Q net profit to $69.1m
ComfortDelGro Corporation’s revenue for the three months ended 30 September 2011 increased by $53.6 million, or 6.5% year-on-year, to a record $877 million. The growth would have been even stronger at 7.6% had it not been for the negative translation effect of the weaker Sterling Pound, Chinese Renminbi and Vietnamese Dong. At the operating level, revenue growth was broad based.

6 Good Reasons ComfortDelGro Shouldn’t Hike Taxi Fares
Yesterday, ComfortDelGro announced a hike in cab fares. The reason is inflation and cost of living, to which, you know, taxi fares are a contributing factor. In effect, they’re responding to the rising cost of living by raising the cost of living. Our PTC (Public Transport Commission) hasn’t had the decency to respond appropriately (i.e. leaning over to slap whoever’s in charge), so MoneySmart will do it instead. Here’s six reasons that fare hike shouldn’t happen >>>

ComfortDelGro wants to help taxi drivers? Just remove all surcharges
Helping the cabbies meet rising costs is also cited as a reason but if ComfortDelgro is sincere, then it should stop charging their drivers such exorbitant rental rates.

Rather, these fare increase (with lesser reductions) are designed to milk even more from a population held hostage by a frankly sub-standard public transport operator.

Association urges other taxi operators to follow fare revision
The 11,000 member strong National Taxi Association (NTA) has urged the five other taxi operators in Singapore -- Trans-Cab, SMRT, Premier, Smart and Prime, to follow ComfortDelGro's fare revision.

Taxi union criticised for call to raise fare
Some commuters are upset that the peak period has been extended to stretch from 6pm to midnight, compared to 5pm to 8pm currently.

"I think taxi fares shouldn't increase any further because with the surcharges and the ERP fees, they are already incorporated into these taxi cab fares. I think it would just be too exorbitant," said a female passenger.

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