Source: The Real Singapore
IS THERE CORRUPTION GOING ON BETWEEN ACS AND SMRT?
Post date: 28 Aug 2014 - 11:20am
Dear The Real Singapore,
I refer to the article: "ACS Boy who is now SMRT CEO in hot soup for letting ACS cheaply charter trains"
Our MRT train model is Siemens C651 which has a capacity of 1,920. So 5 trains is almost 10K while ACS only had 3000 on it. If it works out to 2SGD per student, it means 6000 SGD was sent. For the trains it means 1200 SGD per train or a revenue of 0.625 SGD per customer per train at 100% capacity. Was SMRT giving a discount or is the earnings per train, including the ridership of people who get on and off along the entire route less than 1,200, at the same period which it was chartered?
If it is at a discount, why only ACS and what does it mean for the grants given to SMRT? If it is not a discount, does this mean the amount from this revenue cannot pay back for the investment.
It was reported by Straits Times that the cost came down to about $2 per head, but in that report, they also indicated that there would be about 5000 people to ferry, not the 3000 who actually took the chartered trains.
It is not known what the full cost of the chartering services was as neither ACS(I) nor SMRT gave such details to the media.
Some netizens are speculating that ACS(I) received a discount or special, favourable treatment from SMRT CEO Desmond Kuek who is himself an ACS alumni.
SMRT has been plagued with problems recently with multiple, major breakdowns. It was just fined a record $1.1 million last year for several, severe lapses in service standard and yet, many commuters have not felt any improvment in reliability.
Meanwhile, SMRT also enjoyed a 37% rise in net profits in the last quarter while Singaporeans are burdened with with rising fares. Is such behaviour by a public listed company acceptable? Is there some sort of corruption going on within SMRT?
As a major transport company in Singapore there ought to be some sort of transparency being given to the public. Why are ACS students paying so much cheaper MRT fares then a normal commuter?
Khoo Boon Liang
TRS contributor
IS THERE CORRUPTION GOING ON BETWEEN ACS AND SMRT?
Post date: 28 Aug 2014 - 11:20am
Dear The Real Singapore,
I refer to the article: "ACS Boy who is now SMRT CEO in hot soup for letting ACS cheaply charter trains"
Our MRT train model is Siemens C651 which has a capacity of 1,920. So 5 trains is almost 10K while ACS only had 3000 on it. If it works out to 2SGD per student, it means 6000 SGD was sent. For the trains it means 1200 SGD per train or a revenue of 0.625 SGD per customer per train at 100% capacity. Was SMRT giving a discount or is the earnings per train, including the ridership of people who get on and off along the entire route less than 1,200, at the same period which it was chartered?
If it is at a discount, why only ACS and what does it mean for the grants given to SMRT? If it is not a discount, does this mean the amount from this revenue cannot pay back for the investment.
It was reported by Straits Times that the cost came down to about $2 per head, but in that report, they also indicated that there would be about 5000 people to ferry, not the 3000 who actually took the chartered trains.
It is not known what the full cost of the chartering services was as neither ACS(I) nor SMRT gave such details to the media.
Some netizens are speculating that ACS(I) received a discount or special, favourable treatment from SMRT CEO Desmond Kuek who is himself an ACS alumni.
SMRT has been plagued with problems recently with multiple, major breakdowns. It was just fined a record $1.1 million last year for several, severe lapses in service standard and yet, many commuters have not felt any improvment in reliability.
Meanwhile, SMRT also enjoyed a 37% rise in net profits in the last quarter while Singaporeans are burdened with with rising fares. Is such behaviour by a public listed company acceptable? Is there some sort of corruption going on within SMRT?
As a major transport company in Singapore there ought to be some sort of transparency being given to the public. Why are ACS students paying so much cheaper MRT fares then a normal commuter?
Khoo Boon Liang
TRS contributor
End Of Article
