$25M lost SMRT HUAT AH!

[SgGoneWrong]

Desmond the best record setter ah!
Lowest share price ever, during his watch.
Now, lowest ever profits in 11 years.
Lots of excuses for poor performance, nothing substantive to say how to overcome the situation.
Just hanging around to wait for govt (ie tax payers like us) handouts, buy ageing assets, fare increases.
This guy was recruited after a global search?
What a clown.

No wonder pap always think sinkies are no talents. Those put in power all give disappointing results eg. Ho jinx, Desmond Kuek.

 

[Manager]

like that you still say HUAT? no brainer. no wonder we need foreigners.
think what is going to happen next. they will propose to increase the fare to recover the loss.

SMRT reports $25m loss in core business for the first time

.

 

[red amoeba]

Pretext for increasing fares nxt yr after erections

 

[hockbeng]

http://www.straitstimes.com/news/bu...5m-loss-core-business-the-first-time-20140501

SMRT reports $25m loss in core business for the first time

Rail business battered by rising costs, bus operations also see sizeable loss
Published on May 1, 2014 8:46 AM
1122 569 0 0 PRINT EMAIL

Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses. -- ST FILE PHOTO: KUA CHEE SIONG

By Christopher Tan Senior Transport Correspondent

Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses.

Yesterday, it reported a loss of $25 million on its fare businesses for the financial year ended March 31, pulling down its overall net earnings to an 11-year low of $61.9 million.

The Temasek-owned group's once lucrative rail business continued to be battered by rising costs, while its moribund bus unit continued to bleed.

Even though train services saw a 2.9 per cent increase in ridership, operating profit dropped sharply from $65.1 million the year before to just $5.5 million.

Dont be fooled by accounting folks; its all a game.

2 faces to this SMRT story:

1. past management deferred all loss making stuff like maintenance and replacement of parts to a later date; like now. Hence past few yrs of record profits.

2. New incoming management will always make the first year the worst performing year by booking all loss making stuff into 1 year. This can then be blamed on the previous management. From next year onwards it will be much easier to book profits and then give yourself a big pat on your shoulder.

This is nothing new and done all over the world; esp when there is a change in management

 

[halsey02]

Dont be fooled by accounting folks; its all a game.

2 faces to this SMRT story:

1. past management deferred all loss making stuff like maintenance and replacement of parts to a later date; like now. Hence past few yrs of record profits.

2. New incoming management will always make the first year the worst performing year by booking all loss making stuff into 1 year. This can then be blamed on the previous management. From next year onwards it will be much easier to book profits and then give yourself a big pat on your shoulder.

This is nothing new and done all over the world; esp when there is a change in management

That is why I had mention " COOKING THE BOOKS"!!! to make you commuters feel bad that BECAUSE OF YOU, WE ARE NOT MAKING MONEY, but is able to pay dividend to the "stakeholders" & one of them, is GIVING YOUR "tax money" to help the company...right in, left out & back in, side out....ha ha ha

btw....A MONOPOLIST DOES NOT MAKE MONEY??

You gotta be a 60% to believe...B E L I E V E.......

 

[blindswordsman]

Yes, how can they be losing money when there is an increase in demand for transportation
Every time I try to take public transport it is usually packed.

Go to Little India and see how ah nehs travel in buses without paying fares. If fares are not collected, what is the use of having more commuters? Other FTsh also use all kinds of tricks to avoid paying fares. Open your eyes and see how they do it in MRT stations and on buses.

 

[leetahbar]

let's do our simple mathematics....

HOW CAN THERE BE LOSS?

how jam packed mrt is nowadays so how can it incurs a loss?

this massaged leeport is a prelude to hint they shall increase the fee again....and rightly so cos they now leeported "loss".

if loss, how cum directors still getting fat cheques?

 

[The_Hypocrite]

Should she not be charged with treason.? Smrt is a critical industry subjected to gahmen oversight. Since she fuck it up with malicious intent. This is enough to charge her under isa and all her assets confiscated. These will teach all foreign garbage to not fuck around.

The one to be blamed and hold responsible should be the Malaysian chinese woman CEO, who practised bumi like policies to hire her DFS cronies and neglected maintenance for years! And super thick skinned to stay on until bonus cut off!

 

[chonburifc]

like that you still say HUAT? no brainer. no wonder we need foreigners.
think what is going to happen next. they will propose to increase the fare to recover the loss.

TS is correct. PAPPIES going to HUAT ARH! Stinkees are very generous one. Raise fare a little bit no problem one.

 

[whoami]

like that you still say HUAT? no brainer. no wonder we need foreigners.
think what is going to happen next. they will propose to increase the fare to recover the loss.

Still make money. Huat lah.

 

[GoldenDragon]

$25million is peanuts to them. That is, if you trust their reports. Still dont understand how the losses came about.

 

[whoami]

$25million is peanuts to them. That is, if you trust their reports. Still dont understand how the losses came about.

And some punters actually go load it thinking MIW may nationalise it.

 

[Microsoft]

Tat not loss...now dey are paying for all those maintenance work which should had carried out long time ago...we hab de papies to thanks for privatising de MRT so tat it can be profit oriented...but run it jus like any fuck up govt agency...

 

[escher]

How the fook is this possible?

What kind of lies are not possible from PAP and their entire fucking gang?

THE ONLY ANSWER IS TO HANG ALL THE PAP FROM PIANO WIRES AND SEE THEM DANCE UNDER LAMP POSTS
THAT WAY WE GET NO MORE FUCKING LIES FROM THEM

 

[scroobal]

Both Saw and the board must be held accountable. It's years of neglect in the engineering space that caused it. Desmond compounded the matter by bringing people he knew and like him had no background in running this business.

LTA looks after infrastructure and they did pump in money when the Saw debacle occurred. SMRT is only the licensed operator and are responsible for operations, routine maintenance and rolling stock. SMRT failed to monitor the line condition. I suspect that the loss is associated with the purchase of rolling stock from China which had be modified locally as they were causing issues on the track. This I understand was done locally.

SIA would not be a world player just because of its Singapore Girl and its renown cabin service. There is first class engineering coupled with competent flight crew led by a legendary visionary and leader in JY Pillay. Look at SIA now. First it's subsidiary had its license suspended in Australia, Gerard Ee who was chairman of the subsidiary was removed and Pillay was asked to take over. Look at the CEO of SIA, no one has any clue about this chap. Service has perceptibly dropped. Look at the Virgin debacle and the wonderful story about the deal done on a napkin.

Compare Desmond to Pillay - both PS. One was on scholar train from the very start, went to Harvard etc for post grad, chief of SAF etc, yet a simple task of bringing qualified people to do the job and he brings in his trusted mates from the army. Poor judgement.

 

[johnny333]

Dont be fooled by accounting folks; its all a game.

2 faces to this SMRT story:

1. past management deferred all loss making stuff like maintenance and replacement of parts to a later date; like now. Hence past few yrs of record profits.

2. New incoming management will always make the first year the worst performing year by booking all loss making stuff into 1 year. This can then be blamed on the previous management. From next year onwards it will be much easier to book profits and then give yourself a big pat on your shoulder.

This is nothing new and done all over the world; esp when there is a change in management

Eventually the PAP must make way for an alternative party. I can only imagine all the losses made by the PAP
Especially the losses in the CPF

 

[scroobal]

She should be charged for having an offensive hairdo. Shocking and no one told her. It does tell that she does not take in criticism and must have ended up with yes people. Same with the Sedan chair, they were stoking her ego.

Should she not be charged with treason.? Smrt is a critical industry subjected to gahmen oversight. Since she fuck it up with malicious intent. This is enough to charge her under isa and all her assets confiscated. These will teach all foreign garbage to not fuck around.

 

[scroobal]

Yes. Agree.

Dont be fooled by accounting folks; its all a game.

2 faces to this SMRT story:

1. past management deferred all loss making stuff like maintenance and replacement of parts to a later date; like now. Hence past few yrs of record profits.

2. New incoming management will always make the first year the worst performing year by booking all loss making stuff into 1 year. This can then be blamed on the previous management. From next year onwards it will be much easier to book profits and then give yourself a big pat on your shoulder.

This is nothing new and done all over the world; esp when there is a change in management

 

[GoldenDragon]

She should be charged for having an offensive hairdo. Shocking and no one told her. It does tell that she does not take in criticism and must have ended up with yes people. Same with the Sedan chair, they were stoking her ego.

Agree. JY Pillay was highly effective. Worth every cent paid.

SPH and Desmond? Idiots.

 

[po2wq]

Tat not loss...now dey are paying for all those maintenance work which should had carried out long time ago ...

u mean delayed payment? ...

can oso f**k 1st, pay later? ...