$25M lost SMRT HUAT AH!

[tun_dr_m]

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.

 

[po2wq]

loss? ... watz a loss 2 smrt? ... no big deal la ...

directors fee continue 2 take, ceo's bonus continue 2 take, shareholders dividends continue 2 gif ...

no moni? ... ask from ah loon lor! ...

 

[Confuseous]

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.

 

[DuYunQi]

Oh Crap!!
Does this mean they want to raise fares again?!!!
@#$$%^&^&

 

[borom]

This loss is nothing compared to the POLITICAL PRICE the pappy will pay.

 

[ginfreely]

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.

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!

 

[Confuseous]

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!

Not so, methinks. The Board gave her a specific brief to use up the spaces for retail purposes. And it is this policy that is actually helping Desmond look good. He is into the Sports Hub big time and that will contribute to future profits. His poor performance could be attributed to his poor management in identifying real talents to supplement his own incompetence. He brought in his army buddies instead.

His stupidity is also confirmed by his statement that the best people he knew were from the military. What else did the idiot expect, if he had never worked in another organisation? Instead of getting headhunters on the case, he got in his equally, if not more, incompetent uniformed buddies.

 

[ginfreely]

Not so, methinks. The Board gave her a specific brief to use up the spaces for retail purposes. And it is this policy that is actually helping Desmond look good. He is into the Sports Hub big time and that will contribute to future profits. His poor performance could be attributed to his poor management in identifying real talents to supplement his own incompetence. He brought in his army buddies instead.

His stupidity is also confirmed by his statement that the best people he knew were from the military. What else did the idiot expect, if he had never worked in another organisation? Instead of getting headhunters on the case, he got in his equally, if not more, incompetent uniformed buddies.

I think more likely it is that kay kiang Malaysian's bright idea to focus on retail space since she came from DFS, board members of these GLCs are usually seat occupiers from inner circle who just rubber stamp board papers, they where got think which direction the company should go? That Desmond also brought in own kakis? Then he is also to be blamed for not able to turn around. But me think it is alot harder to turn around something in bad shape then that Malaysian who had it easy having inherited the company in good shape but caused its downfall by being reckless and neglect maintenance..

 

[lifeafter41]

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.

You can bet your last dollar this will be the excuse for raising fares.
Coming to the travelling public soon.

What can the CEO, Directors do about the losses, except to recommend to raise fare.
Primary 6 students with basic math also can do that.

 

[frenchbriefs]

how to lose when the bus and train is already packed like sardine.

 

[frenchbriefs]

its obvious SMRT can no longer cope with the infrastructure needs....its time to let free market do its job and let ah tiong and ah neh companies set up bus services here.

 

[laksaboy]

Losses? Better get used to it... a SAF dunce is in charge of SMRT.

 

[johnny333]

how to lose when the bus and train is already packed like sardine.

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. Their labor costs must be very low because they are paying cheap 3rd world wages.

The authorities should do an audit if they want to find out where the $ has gone to

 

[scroobal]

Agree with you. With LTA handling their infrastructure cost, what could go wrong.

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. Their labor costs must be very low because they are paying cheap 3rd world wages.

The authorities should do an audit if they want to find out where the $ has gone to

 

[Dark Knight]

IMHO, SMRT which belongs to the GLCs and being the monopoly in providing transportation services won't easily make a loss.

This 25mil loss came about from spending huge amount of their profits in doing "damage control" that was long due on maintaining
and purchasing new trains, changing rails, cables, signalling system and other infrastructures for the trains station and buses.

That see saw lady has been focusing too much on the secondary retail business and neglected the primary core business of providing transportation services.
She thought she could run SMRT just like what SIA did in changi airport terminals.

 

[Logisex]

You expect a SAF regular to know the concept of making money when he had spent his whole life in an organisation that is only responsible for spending money?
I bet he don't even know how to read a P&L statement

 

[escher]

Oh Crap!!
Does this mean they want to raise fares again?!!!
@#$$%^&^&

What else?

All this sob sob sob stories about them losing $$$$ is to screw and fuck and tiew sinkies of even more $$$$

SO THAT THEY CAN TREBLE THE BONUSES PAY TO ALL THE PAPER GENERALS AND THE FUCKING FAT CATS THEY GOT ON THE BOARD.

AND DOUBLE THEIR PAY AFTER TREBLING BONUSES

AFTER ALL, STINKIES ARE TO BE FUCKED AND TIEWED AND KANNED BY PAP AND THEIR COLLABORATORS
STINKIES TO KEEP HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH FOR THE SHIOKNESS OF THE PAP AND THEIR COLLABORATORS

BRING OUT THE FUCKING PIANO WIRES AND HANG ALL THOSE PAP BASTARDS WITH THEIR COLLABORATORS


OR CONTINUE TO STAY HEAD DOWN DOWN AND YOUR ARSEHOLES UP HIGH HIGH

 

[ykhuser]

how to lose when the bus and train is already packed like sardine.

why not.lose to mbs
loss to rws

 

[JHolmesJr]

How the fook is this possible?

 

[halsey02]

Have they been 'cooking the books'? they are giving , quote "SMRT has proposed a final dividend of 1.2 cent per ordinary share. Including the interim dividend of 1.0 cent, this takes the total dividend for the year to 2.2 cents per share. - CNA/xq"

No bad, making losses still can give dividends!! was the money from the government to help the transport operators factored in??