SMRT wants fare hikes and more subsidies from garmen!

[BuiKia]

SMRT Falls After Saying Business Model Unsustainable

By Grant Clark

April 30 (Bloomberg) -- Declines 1.3%, most in three weeks, to lowest in four years after reporting wider-than-expected loss, saying its business model is “unsustainable” and it’s in talks with govt over “more sustainable” model.

• Volume 80% of 3-mo. full-day avg in 25 mins. of trading
• Profitability to be eroded next yr by “continuing misalignment between fares and oper. costs:” SMRT
• Bus loss in particular to rise on higher energy, staff costs
• Sees higher capex in 2014 to renew ageing fleet and equipment, expand fleet
• FY net income S$83.3m; est. S$106.4m
• NOTE: Delay on North-South line last night due to crack on rail: Straits Times
• NOTE: Stk down 12% ytd

 

[saratogas]

All Top management staff takes pay cut loh... Increase Advertising & Rental revenue!

 

[kopikia]

gahmen take back lor. where got business sure make money one. if you cant do the job, fuck off and let somebody else try

 

[batman1]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

SMRT is a monopolized transport operator still unsustainable
due to corruption ,collusion n nepotism?
Solution : Nationalize SMRT.

 

[Lordshiva]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

give a publiclisted company BILLIOns and nothing in return.....fucking pap sleeping is it? or are the Lees are the major shareholders????

 

[greenies]

All Top management staff takes pay cut loh... Increase Advertising & Rental revenue!

Agreed.
Cut MD, CEO and all BODs' fat portion.
Is that true that ex-CEO earned 4-5 millions annual package???

 

[greenies]

Get real professionals to run the public transport.
Without Temasek, everything will become cheaper.

 

[laksaboy]

Sustainable? Then stop building so many additional MRT lines. LOL!

 

[ginfreely]

This whole thing is very strange, why overcrowded trains and still not sustainable? Must be due to very high repair & maintenance costs after many years of not carrying out proper maintenance. LTA and not just SMRT ought to be responsible for allowing SMRT to deteriorate to such state.

 

[The_Hypocrite]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

The public transport system needs to be nationalised properly and not this hybrid crap system that benefits gahmen companies. There is nothing wrong with a nationalised public transport system which is run efficiently and effectively. Public transport is a public good and needs to be run as a public good and not as an entity for PAPs rent seeking behaviour.

For example, trains and buses need to compete against each other and run parallel services. Under the SMRT crap, its ridiculous that bus services are cut so that it will not compete with trains. If buses and trains compete, people will have a choice to take bus or trains and not just depend on the train alone.

No wonder the trains are over crowded.

SMRT is a monopolized transport operator still unsustainable
due to corruption ,collusion n nepotism?
Solution : Nationalize SMRT.

 

[Reddog]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

Not sustainable ? But still profitable ? Just nationalise this monopoly.

 

[winnipegjets]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

So the million bucks CEO from SAF and his juniorlings, also from the SAF, can't make SMRT work? Then why are they paid so much?

 

[t0nychat]

Re: SMRT wants fare hikes and more subsidies from garmen!Ww

Be vegetarian and save on food expenses.