Vriddhi Consulting

Punit Khanna

Focused on Asian Small-mid cap market space with long term investment horizon.

SBS Transit : Stable and a Slow Growth but Not Cheap at Current Prices

SBS Transit: Stable and a Slow Growth Business but Expensive at Current Prices

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>Revenue from the public transport business was down 1% in 2nd Half due to lower bus revenues. </li>
<li>Train ridership increased on both NEL and DTL, but train business does not make money</li>
<li>Business is becoming asset-light and the management has returned good things by returning excess cash to shareholders.</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Revenue from the public transport business was down 1% in 2nd Half due to lower bus revenues. 
Train ridership increased on both NEL and DTL, but train business does not make money
Business is becoming asset-light and the management has returned good things by returning excess cash to shareholders.

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

SBS Transit : Dont Get Excited with Dividend as Its Capital Repayment and Not Earnings