$ComfortDelGro(C52) Money flowing out and below trend line. More downside if it cannot break higher.
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$ComfortDelGro(C52.SI) Bad news
The Land Transport Authority (LTA) today (Aug 2) announced a ban for taxi drivers to be used as delivery couriers, cutting potential income up to S$1,000 a month for taxi drivers:
"Taxi drivers and private-hire drivers are not allowed to be couriers or deliverymen for goods if there is no passenger on board. Under our regulations, taxis and private-hire cars are meant to carry passengers for hire and reward, and cannot be used solely for the conveyance of goods."
The ban came after Amazon said they have been using taxi drivers as couriers to send out parcel deliveries. There has been zero complain from Amazon customers, taxi commuters, public or even from the taxi drivers. However, the Singapore government dislike the fact that their government regulations in the dictatorship has been circumvented.