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Temasek lost $652MM in Uber!

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PNGMK
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Temasek lost $652MM in Uber!

Postby PNGMK » Wed, 28 Mar 2018 8:52 am

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Re: Temasek lost $652MM in Uber!

Postby GSM8 » Wed, 28 Mar 2018 9:42 am

PNGMK wrote:http://statestimesreview.com/2018/03/27/comfortdelgro-delete-your-s652-million-uber-app/

They paid $28,348 per cab? That's about Comfort's annual revenue from each cab rented (not taking into account costs and depreciation). Its also close to the average cabbies annual earnings. The multiple seems excessive but I suppose it took into account a worst case scenario of Uber completely wiping out Comfort's business in due course. I'd be surprised though, if there wasn't an indemnity clause to protect Comfort DelGro.

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PNGMK
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Re: Temasek lost $652MM in Uber!

Postby PNGMK » Wed, 28 Mar 2018 9:56 am

GSM8 wrote:
PNGMK wrote:http://statestimesreview.com/2018/03/27/comfortdelgro-delete-your-s652-million-uber-app/

They paid $28,348 per cab? That's about Comfort's annual revenue from each cab rented (not taking into account costs and depreciation). Its also close to the average cabbies annual earnings. The multiple seems excessive but I suppose it took into account a worst case scenario of Uber completely wiping out Comfort's business in due course. I'd be surprised though, if there wasn't an indemnity clause to protect Comfort DelGro.


I'd be surprised if there WAS one. Temasek have done some stupid things before. One of my SC colleagues at work mentioned the gahmen seems to have gone on a cash raising drive - and he linked it to the gahmen having some losses they are trying to recover from.... maybe this is one of them.
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Re: Temasek lost $652MM in Uber!

Postby sundaymorningstaple » Thu, 29 Mar 2018 3:19 pm

Temasek didn't lose anything. They never invested in Uber. Anyway, you are taking your information from a known fake news site. They are invested in Grab and Comfort-Delgro thought.

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Re: Temasek lost $652MM in Uber!

Postby Escapedprisoner » Mon, 30 Jul 2018 3:49 pm

The website is correct. The Temasek investment into Uber was made by ComfortDelgro. At one point they merged. When ComfortDelgro was struggling from lack of business.

Later, Grab bought over the local Uber.

I think biggest winner might be Uber that made money from the sale.

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Re: Temasek lost $652MM in Uber!

Postby PNGMK » Mon, 30 Jul 2018 6:01 pm

Just one of our esteemed PM's wife's great investment decisions.... not.
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