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It has been a rough few years for ComfortDelGro Corporation Limited (CDG). Its stock price fell to S$2.00 in December 2017, down from its peak of S$3.20 in June 2015.

This coincided with rising competition from ride-hailing providers, Uber and Grab, which caused a 20% reduction in taxi fleets of both Comfort and CityCab from end-2015 to end-2017.