What happened to "first & foremost we are a public transport operator" statement?

[Confuseous]

When Lieutenant General Demond Kuek took over from Saw Phaik Hwa as the new CEO of SMRT in October 2012, he proclaimed with great fanfare, “What is certain is that we are first and foremost a public transport operator. This is the core business that we are responsible for and must excel in.” He also paid lip service to putting priority on engineering ("strengthen our operations, engineering and maintenance capabilities") and safety ("instill a strong customer service and safety culture in all our people”).

So how do engineering and safety on the tracks come into play with his plan to lease and operate more than 40,000 sq m of retail space inside the new Sports Hub? Make no mistake, SMRT is taking the lead in 70% of the new venture called SMRT Alpha. NTUC is roped in only for the FairPrice Xtra hypermarket share of the pie. The range of indoor and outdoor dining outlets, stores, entertainment options in the retail mall will be taking up the general's full attention. The train merely serves as the conduit to the retail outlets.

- http://singaporedesk.blogspot.sg/2012/12/broken-promises.html

 

[jubilee1919]

Re: What happened to "first & foremost we are a public transport operator" statement

Formerly a Stat Board, SMRT was privatized and now the main shareholder is TH. We the original owners has been thoroughly screwed by PTC and LTA.

 

[mojito]

Re: What happened to "first & foremost we are a public transport operator" statement

When UGL copped out of the consortium, it is a sign that Sports Hub is another white elephant that needs to be bailed out by Temasek through SMRT. Another remarkable legacy from "no regrets" Bala. Is he incompetent or simply unlucky?

 

[Equalisation]

Re: What happened to "first & foremost we are a public transport operator" statement

Formerly a Stat Board, SMRT was privatized and now the main shareholder is TH. We the original owners has been thoroughly screwed by PTC and LTA.

Datok, Agree.

It is just like them locking up of OUR hard-earned Cpf money and not giving back to us at age 55 as originally legislated macham like day-light robbery.

 

[ray_of_hope]

Re: What happened to "first & foremost we are a public transport operator" statement

This is what happens to any listed company constantly under pressure to increase profits every quarter (not just every year). It desperately seeks new revenue streams even if they have little to do with its core biz.

 

[blackmondy]

Re: What happened to "first & foremost we are a public transport operator" statement

“What is certain is that we are first and foremost a liar. Screwing sinkies is the core business that we are responsible for and must excel in.”