Daily Briefing: Electric car sharing could destroy ComfortDelGro; Bitcoin now larger than Singapore's banks combined

And here's why a realtor was banned from selling foreign properties for a year.

From The Motley Fool:

ComfortDelGro Corporation Ltd (SGX: C52) is one of the world’s largest land transport companies with businesses that include bus, taxi, rail, and inspection and testing services.

Recently, the land transport giant did not perform well financially. For the third quarter ended 30 September 2017, its taxi business posted an 11.2% decline in revenue to $298.3m due to “increased competition”, which brought about a smaller operating fleet.

It could get worse, as BlueSG, the first large-scale electric car-sharing scheme in Singapore, will start operations next week with 80 cars.

Read more here.

From PropertyGuru:

Dennis Wee Realty (DWR) has been prohibited from marketing or transacting foreign properties until 24 November 2018 and is required to pay a fine of $66,000, announced the Council for Estate Agencies’ (CEA) Disciplinary Committee on Wednesday (6 December).

“This is the largest fine meted out so far to a property agency for failing to abide by the regulations related to estate agency work involving foreign properties,” said CEA in a statement.

Read more here.

From The Motley Fool:

With that, the digital currency’s market capitalisation stands at around US$235b now, trouncing some of the combined market capitalisations of the Straits Times Index‘s (SGX: ^STI) components.

For one, the Singapore banks – DBS Group Holdings Ltd (SGX: D05), Oversea-Chinese Banking Corp Limited (SGX: O39) and United Overseas Bank Ltd (SGX: U11) – have a total market capitalisation of around US$116 billion.

The five largest components of the Straits Times Index, namely, DBS, Singapore Telecommunications Limited (SGX: Z74), OCBC, Jardine Matheson Holdings Limited (SGX: J36), and Jardine Strategic Holdings Limited (SGX: J37), have a combined market capitalisation of close to US$221b, which is still some distance away from the market size of Bitcoin.

Read more here.

Also Read

Low inflation in Singapore unlikely to hold in 2Q24

Lower private transport costs ease inflation to 2.7% YoY in March

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