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86-488: The City Shuttle Service was a network of bus services in Singapore between May 1975 and April 2007 by NTUC Comfort and Singapore Shuttle Bus. It was purchased by Trans-Island Bus Services , a former subsidiary of Singapore Shuttle Bus, in 1987. The City Shuttle Service (CSS) was an initiative introduced on 16 May 1975 by the Singapore government, as part of a park & ride scheme aimed at reducing traffic congestion in

172-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

258-447: A blend of traditional insurance products, alternative risk financing instruments and methods to help the Group mitigate any risks faced in an increasingly complex environment. Moove Media is the advertising arm of ComfortDelGro and has been in operations since 8 April 2005 through the merger of Comfort Ads and SBS Transit Advertising. It marked its launch with several large cows dotted across

344-452: A car-rental and leasing-service provider in Singapore with a fleet of more than 1,100 vehicles. ComfortDelGro Insurance Brokers is an associate company of the Group, and its principal activities relate to risk protection and transfer solutions through the disciplines of insurance broking, employee benefits consulting, risk management operations, claims and loss management and customised solutions. It proposes and implements solutions involving

430-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

516-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

602-818: A fresh name to offer services through one platform. The app, now known as CDG Zig, integrates ComfortDelGro's taxi booking tool with its now-decommissioned lifestyle tool Zig. Besides servicing private cars through its SPARK Car Care business, ComfortDelGro Engineering provides accident repair for most of ComfortDelGro's taxi fleet, as well as vehicle fleets for ComfortDelGro Bus and ComfortDelGro Rent-A-Car. Its diesel sale department's 17 diesel kiosks provide diesel at subsidised rate to ComfortDelGro's 16,600-strong taxi fleet islandwide. Its vehicle construction unit custom-builds vehicles for passenger transportation as well as for special function for both local and regional customers. It also provides modifications, retrofitting and refurbishment to existing vehicles. ComfortDelGro Engineering

688-707: A joint venture between ComfortDelGro (51%) and Australian taxi company Cabcharge (49%) known as ComfortDelGro Cabcharge (CDC), to purchase Westbus and Hillsbus in Sydney and Hunter Valley Buses from National Express . In August 2006, ComfortDelGro Cabcharge expanded purchasing the Western Sydney services of Baxter's Bus Lines followed in August 2007 by Morisett Bus Service, Sugar Valley Coachlines and Toronto Bus Service. In November 2008, Kefford Corporation in Victoria

774-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

860-411: A private-bus charter subsidiary, is the largest private land-transport company in Singapore, which offers a wide range of bus charter services, including employee and school bus services. It also offers overland bus services to West Malaysia, and operates premium bus services, complementing those offered by SBS Transit. Comfort and CityCab, both taxi companies belonging to ComfortDelGro Corporation, are

946-730: A scheme that was eventually extended to other bus operators. On 12 March 1987, SSB was purchased by Trans-Island Bus Services. SSB provided public transport from the housing estates to the CBD areas. Services operated from interchanges and terminals like the Bedok and Bukit Merah bus interchanges as well as the Holland Drive, St Michael's and Sin Ming Road bus terminals. The services operated from 06:00 to 19:30 and did not operate on Sundays and public holidays. These services were renumbered into "6xx" in 1997 with

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1032-475: A spectrum of transport services ranging from bus and taxi services to leasing and vehicle maintenance and inspections. The new company's only rival then was SMRT Corporation , which had a market capitalisation of around $ 930 million, sales of $ 500 million and pre-tax profits of $ 88.5 million then. The latter's fleet of some 600 buses and 2,000 taxis was smaller, but it was operating Singapore's rail network entirely. ComfortDelGro owns 75% of SBS Transit , which

1118-654: Is a multi-national transport group based in Singapore . It is listed on the Singapore Exchange and operates more than 40,000 vehicles across 12 countries. It was formed on 29 March 2003 through a merger of Singaporean land transport companies Comfort Group and DelGro Corporation. On 17 September 2019, the Dow Jones Sustainability Asia Pacific Index listed ComfortDelGro on its index in recognition of its sustainability efforts, thus becoming

1204-509: Is also the authorised distributor for Volvo Buses in Singapore. VICOM is offering testing and inspection services to a wide spectrum of industries such as automotive, petrochemical, aerospace, manufacturing, building, construction, marine and gas. ComfortDelGro Driving Centre is a partnership with Chofu Driving School of Japan. The Centre provides driving instruction for motorcars, motorcycles, bus and taxi vocational licences as well as corporate training. ComfortDelGro Rent-A-Car operates as

1290-402: Is listed separately on the Singapore Exchange . SBS Transit is a leading bus and rail operator in Singapore. Every day, it carries more than three million passengers on its extensive bus and rail network. SBS Transit operates about 250 bus services with a fleet of more than 3,200 buses. The buses serve 17 interchanges and more than 3,500 bus stops island-wide. Additionally, SBS Transit operates

1376-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1462-458: Is the first overseas rail contract attained by ComfortDelGro and first by a Singapore company. In January 2024, a Go-Ahead Group and ComfortDelGro joint venture, in which ComfortDelGro has a 45% stake, obtained the contract for the operation and maintenance of the Stockholm Metro starting from May 2025, replacing the previous operator, MTR . In March 2000, DelGro Corporation purchased

1548-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1634-809: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1720-573: The Metroline bus company in London. As of December 2012 it operated 1,200 buses. In June 2013, a further 494 buses were added to Metroline with the purchase of five depots located in North and West London from First London . Under Transport for London (TfL)'s gross-cost model, operators like Metroline tender for routes and operate them as contractors. The Mayor of London decides on the level of fares as well as

1806-761: The North East Line , which is Singapore's first fully automated, underground heavy rail system that connects Punggol to HarbourFront, as well as the Sengkang and Punggol LRT Lines . SBS Transit also operates the Downtown line . It is 42 km long with 34 stations, making it the longest underground line in Singapore. The first stage of the Downtown line commenced passenger service on 22 December 2013. The second and third stages were ready for passenger service on 27 December 2015 and 21 October 2017 respectively. ComfortDelGro Bus, as

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1892-629: The Northern Rivers region. Additionally, Swan Taxis based in Perth became wholly owned by ComfortDelGro in 2010. Swan Taxis later acquired Metro WA Taxi in October 2017. Being wholly owned by ComfortDelGro since acquisition, Swan Taxis was never part of CDC. In China, the Group operates and manages an inter-city bus station, Tianhe Coach Terminal , in Guangzhou. Hengyang's CityCab Bus Services, in which

1978-601: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2064-540: The Capital. In addition to leasing, the company also provides a round-the-clock mobile back-up service that offers assistance to customers in the event of an emergency. In August 2021, Auckland One Rail , in which ComfortDelGro has a 50% shareholding, was awarded a contract by Auckland Transport to operate train services in Auckland starting from January 2022, lasting eight years initially with room for further extensions. This

2150-609: The Chinese. In October 2006, the Group expanded its presence in China with its first move into Chongqing through a 90% stake in new joint venture driving school, Chongqing ComfortDelGro Driver Training Co., Ltd. It expanded its footprint with the acquisition of a site in Liangjiang for its Chongqing Liangjiang ComfortDelGro Driving Training driving school in April 2011, which is expected to be ready by

2236-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2322-503: The Group owns a 25% stake, operates 88 buses. ComfortDelGro also operates taxi services in nine cities – Beijing, Shanghai, Shenyang , Chengdu , Hengyang , Suzhou , Nanning , Nanjing and Jilin City with a total fleet of about 10,650 vehicles. ComfortDelGro launched a motor vehicle rental and leasing business through a joint venture company, ComfortDelGro Rent-A-Car (Chengdu), in Chengdu,

2408-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2494-561: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2580-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2666-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

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2752-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

2838-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

2924-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3010-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3096-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3182-610: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

3268-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

3354-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

3440-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3526-473: The city. It was originally hoped that car owners would park at designated car parks and transfer to CSS bus services to enter the central business district (CBD). Eleven inaugural services commenced operations by with NTUC Comfort operating four (1, 4, 6, 11) and Singapore Shuttle Bus (SSB) seven (2, 3, 5, 7–10), which plied between 16 fringe car parks, 7 city area termini and 49 selected bus stops with 88 25-30 seater single door Mercedes-Benz buses . However,

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3612-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

3698-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

3784-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

3870-661: The concessions for certain passengers. All fare revenue goes to TfL. Fare revenue is then proportionately allocated to operators on a mileage basis and meeting the performance targets set in the contract. ComfortDelGro also owns the Scottish Citylink express coach business in Scotland . In September 2005 ComfortDelGro entered into a joint venture with Stagecoach that combined Scottish Citylink with Stagecoach's Megabus operation in Scotland. Multinational corporation Most of

3956-644: The contract to operate the Paris Métro Line 15 of the Grand Paris Express . In Ireland, ComfortDelGro operates the Irish Citylink ComfortDelGro , an inter-city coach services with over 20 coaches in Dublin , Galway , Clifden and Cork . In Malaysia, ComfortDelGro offers car-leasing and rental services through CityLimo Leasing (M) Sdn Bhd. The Group currently operates about 230 vehicles in

4042-511: The cooperative. The NTUC Co-operative Commonwealth for Transport Limited ("COMFORT" or "NTUC Comfort") was hence formed by the NTUC as a social enterprise together with the affiliated NTUC Income and NTUC Welcome . Comfort started operations in 1971 started with a fleet of 1,000 taxis, with the first taxis entering service at the end of January that year. In June 1993, NTUC Comfort was corporatised and renamed Comfort Transportation Pte Ltd. Comfort

4128-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

4214-476: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

4300-623: The end of the year. In September 2013, the Group further expanded its operations in Jilin City when its subsidiary, Jilin ComfortDelGro Taxi incorporated Jilin ComfortDelGro Driver Training Co., Ltd, a wholly owned driving school. In 2004, ComfortDelGro acquired Chengdu Jitong Integrated Vehicle Inspection. Besides being a vehicle inspection centre, it also operates the sales of automotive parts and components in Chengdu. In

4386-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

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4472-526: The first transport company in Singapore as well as in Asia to do so. In May 1970, the National Trades Union Congress (NTUC) announced plans to provide a cooperative taxi and minibus service. The cooperative was aimed to target the problem of pirate or "ali baba" taxis which were rampant in Singapore at that time, and NTUC planned to get former pirate taxi drivers to drive the minibuses as part of

4558-460: The gateway to the fast developing Western region of China. The Group established Nanning ComfortDelGro Rent-A-Car to operate car rental and leasing services in the city on 1 January 2008 with an initial fleet size of 13 cars, and this number has now doubled. ComfortDelGro has a joint venture company – Chengdu ComfortDelGro Qing Yang Driving School in Chengdu. The centre offers driving training, professional driver training and driver testing services to

4644-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

4730-492: The housing estates in 1976 are as follows: On 25 June 1988, NTUC Comfort withdrew routes 1 and 4, citing a decline in commuter demand due to the MRT's opening. Its remaining service (route 6) ran until 1990, when the buses used reached the end of their permitted lifespans. The initial fleet was replaced with larger DAF SB220 and Nissan Diesel buses. CSS was the first bus operator in Singapore to introduce senior concessionary fares,

4816-495: The initial arrangement was not popular with car owners and the scheme was terminated, resulting in the company being allowed to operate regular services that extended into the housing estates and had reduced to nine services (six services operated by SSB and the three by NTUC Comfort). As the purpose of the CSS scheme was to serve working commuters, no services were operated on Sundays and public holidays. The bus services that extended towards

4902-516: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

4988-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

5074-406: The introduction of standardised numbering system. With the closure of Holland Drive Terminal in 1998, CSS 602 was re-routed to start from Shenton Way Terminal, looping at Holland Drive. SSB's only bus depot was at Lorong 1 Geylang (GLDEP). The central workshop was at Ang Mo Kio Depot which handled all the preventive maintenance, repair works and major component overhauls. On 9 July 2001, during

5160-618: The island. As of 2020, Moove Media offers an integrated outdoor advertisement platforms, reaching commuters islandwide, through: MRT & LRT lines operated by SBS Transit (with their respective stations inclusive): Since 2011, Moove Media offers similar outdoor advertising services in Sydney and Melbourne, Australia. ComfortDelGro Australia is ComfortDelGro's Australian subsidiary, and operates buses in New South Wales , Victoria , Queensland , Australian Capital Territory and Northern Territory . The subsidiary started out in 2005 as

5246-574: The largest players in Singapore's taxi industry with a combined fleet of 8,800 taxis. The ComfortDelGro taxi booking system wirelessly connects the taxis using the General Packet Radio Service (GPRS) technology via the in-vehicle Mobile Data Terminals (MDTs). Today, its Customer Contact Centre caters to over 32 million taxi bookings annually. Comfort and CityCab also operate ComfortDelGro LimoCabs and MaxiCabs in its fleet. On 20 April 2022, ComfortDelGro launched its mobile application under

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5332-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5418-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5504-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

5590-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

5676-474: The merger, the company was operating five routes and its depot was based at Lorong 1 Geylang Bus Terminal. In November 2001, the first service, CSS 602 was withdrawn and all non air-conditioned buses were retired. Prior to the withdrawal of route 608, it was the last of the Nissan Diesel U31RCN buses to pass by the old National Stadium, Maxwell Road as well as the old Supreme Court Building. The bus fleet

5762-634: The operation of the North East MRT line and the Sengkang and Punggol light rail systems. Comfort and DelGro's merger was first proposed on 21 November 2002. In its joint announcement, the merger aimed to "consolidate the transportation businesses of the Companies in order to enhance profitability and shareholder value". The merger was finalised on 29 March 2003. The merger had a market capitalisation of over $ 1 billion, combined sales of $ 1.56 billion, and pre-tax earnings of $ 196 million. It set to provide

5848-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

5934-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

6020-569: The same year, it acquired Beijing Tian Long Da Tian Vehicle Inspection, which offers vehicle safety inspection and emission test services in Beijing. In June 2020, ComfortDelGro entered into a collaboration agreement with RATP Dev and Alstom to jointly bid for contracts along Lines 16 and 17 of the Grand Paris Express in Paris . In July 2023, the RATP Dev, Alstom and ComfortDelGro consortium obtained

6106-510: The same year, the bus subsidiary SBS Bus Services Pte Ltd was listed and renamed Singapore Bus Services Limited, before renaming again to SBS Transit in 2001. Until 1995, SBS/DelGro's taxi operations arm was Singapore Bus Service Taxi Pte Ltd (SBS Taxi Pte Ltd). CityCab was formed in 1995 with the merger of three companies – Singapore Airport Bus Service Ltd (SABS), SBS Taxi and Singapore Commuter Pte Ltd (a subsidiary of ST Automotive ). CityCab then became DelGro's new taxi operations arm and

6192-433: The same year. By the 1990s, the company has diversified to other land transport businesses such as taxis, as well as property and engineering businesses. In 1992, the bus operations were reorganised under a new subsidiary SBS Bus Services Pte Ltd. The original parent company Singapore Bus Service (1978) Limited was renamed DelGro Corporation Limited on 12 November 1997, from the words "Delta" and "Growth". On 10 December

6278-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

6364-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

6450-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

6536-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

6622-523: Was Singapore's largest private bus operator then with 401 buses on unscheduled routes. It also had a fleet of 730 taxis in China through joint ventures. Singapore Bus Services Limited was established on 1 July 1973 to unify bus services in Singapore. The company was replaced by Singapore Bus Service (1978) Limited on 17 February 1978, which was then listed on the Stock Exchange of Singapore (SES) on 26 June

6708-466: Was downsized in the last three years of its service until its withdrawal. The last CSS service, 608, was initially slated to be withdrawn on 30 March 2007. However, due to public appeals, the withdrawal date was delayed to 28 April 2007. During the SARS period between 2003 and 2004, CSS withdrew 3 services; 603, 605 and 607, leaving 608 as a standalone service. The older DAF SB220 buses were exported overseas and

6794-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

6880-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

6966-460: Was jointly owned by DelGro and ST Automotive (later ST Kinetics). At the time of the merger announcement in 2002, DelGro operated public bus services, taxis and car rental in Singapore, Malaysia, United Kingdom and the People's Republic of China. The Citycab operation ran 5,116 taxis, while SBS Transit was the largest scheduled bus operator in Singapore with 2,872 buses. DelGro had also just been awarded

7052-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

7138-779: Was later used in New Zealand, leaving the Nissan buses in the fleet. With the gradual decrease in ridership, some of the Nissan buses with CSS plates were transferred to the SMRT fleet in June 2006. SMRT progressively withdrew CSS routes, ending with the last route, Service 608, on 28 April 2007. Singapore Shuttle Bus became liquidated, all of its drivers were transferred to SMRT or its subsidiaries. [REDACTED] Media related to City Shuttle Service at Wikimedia Commons ComfortDelGro ComfortDelGro Corporation Limited , commonly known as ComfortDelGro ,

7224-803: Was purchased followed in September 2012 by Queanbeyan -based Deane's Buslines and Transborder Express , the Melbourne bus services of Driver Group in July 2013 and the Blue Mountains Bus Company in August 2014. In February 2017, ComfortDelGro purchased Cabcharge's shares in the business with it rebranded ComfortDelGro Australia . In 2018, ComfortDelGro acquired Tullamarine Bus Lines , National Patient Transport, Coastal Liner , Forest Coach Lines and Buslink . In May 2019 ComfortDelGro acquired Blanch's Bus Company and Brunswick Valley Coaches in

7310-478: Was subsequently listed on 6 June 1994 and became the Comfort Group Limited. The listed company was owned by Singapore Labour Foundation (41.7%), its owner-drivers as a single block (approximately 20%) and the public (35%). At the time of the merger announcement in 2002, Comfort's taxi business operated under the brand names of Comfort and Yellow Top with a combined fleet of approximately 11,340 taxis. It

7396-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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