Comfortdelgro (SGD: C52) has been one of the companies that has been affected quite badly since the start of the Covid-19.
It joined the lists of other industries such as airlines, aviation, retail and hospitality industry that is severely impacted by this pandemic crisis.
Since the start of the year, the company has dropped by more than 40% as we saw its share price plunging from $2.37 to $1.40 as of writing today.
One of the most obvious reasons for the plunge is due to the government initiative of a circuit breaker, which lasted two months from April to Jun, before the gradual opening of phase 1 and 2 thereafter.
With the circuit breaker being implemented, the company decided to provide a full rental waiver to its drivers for the 2 months, which based on source is estimated to be around 10,282 fleet to date. After all, what is the use of driving around when most people are forced to lock yourself at home. The goal was to provide a waiver so the drivers do not have to pay rental for its cab....