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SINGAPORE: Prime Minister Lee Hsien Loong has weighed in on the ongoing debate concerning the public transport fare review.
He said that a review is necessary from time to time and increases cannot be helped.
Speaking at a National Day light-up ceremony at the Teck Ghee Division of Ang Mo Kio GRC on Saturday, Mr Lee however noted that the Public Transport Council (PTC) is currently doing its work and urged Singaporeans to relax.
First, this idiot says to relax and let the PTC do its work to review the fare, than in the first line, he says that increases cannot be help. WTF. In other words, he is telling us that this review is one big wayang, and the increase is already a foregone conclusion. This kind of double talk is so amateurish, he should take lessons from one of his kekling ministers on how to smoke people properly.
Singapore's two public transport operators, SMRT and SBS Transit, had put in a request to revise fares and the PTC is considering this.
Mr Lee assured Singaporeans that the PTC will look at the interests of the transport companies as well as commuters before making recommendations.
This statement reveals a lot about this asshole. Since when have the interest of private companies be equal to the interests of citizens who voted for him and pay his million dollar salaries? As far as I am concerned, the transport companies are already making profits, they have been taken care off. Who is taking care of the commuters who are jammed into trains everyday.
He said the government will continue to ensure the country has a good and affordable public transport system.
"Our interest is not to help the transport companies make big profits. There is no reason for us to do that. We want good service, we want affordable service. But we have to allow the transport companies to break even and make reasonable profits so that they can provide this good service," he said.
If he does not call these big profits, than what is?
SMRT + SBS Transit (Net Profit)
===============================
2010: S$ 217.163 million
2009: S$ 217.343 million
2008: S$ 190.519 million
2007: S$ 185.812 million
2006: S$ 159.757 million
2005: S$ 178.088 million
2004: S$ 138.537 million
2003: S$ 91.083 million
2002: S$ 91.351 million
2001: S$ 142.445 million
Gay Loong also says that there is no reason for the govt. to help transport make big profits. Now, he is lying thru his teeth.
Lets look at SBS Transit first. Its 100% owned by Comfortdelgro. 20.18% of Comfort's shares are owned by DBS Nominees, which is a 100% wholly owned subsidiary of DBS (which itself is majority owned by the govt.). The SIngapore labour foundation (a stat board) owns another 14.76%. DBSN services (also 100% owned by DBS) owns 10.83%. This is already 45.77% of the common shares. Not to mention that Citibank Nominees (which is a major shareholder of DBS), will throw in its 14.76% shares to vote with DBS Nominees means that in fact, the govt. owns and controls the majority of shares of SBS Transit. This is in effect a nationalised company. Any private individual or company cannot buy up all the shares in the public market and take over the company, as they should be able to do if these companies were truly public companies. The govt. will never let this happen and hence, it controls the majority of shares.
With regards to the SMRT, Temasek Holdings is already 54.37% majority shareholder. Therefore, these transport 2 orgs. are controlled and owned by the govt. It is absoulutely in the interest of the govt. to see these companies make big profit.
Mr Lee added that service standards will also be improved. And that includes issues like waiting time, overcrowding, the frequency of the train services at peak hours.
He said that the government will also make sure, through the PTC, that when the fares are raised they are reasonable and justifiable.
And for Singaporeans who need help to cope with rising costs, Mr Lee assured there will be help schemes.
He noted that Singapore has enjoyed "quite good economic growth this year", but with living costs rising.
He said the government knows this and it has been providing the Grow and Share Package in the Budget for Singaporeans to tide over the difficult times and be able to cope with the higher costs.
So, in other words, the govt. has been the cost of the riing living costs with the huge importation of FTs, and now they will bribe us with our own money to keep quiet.
He said that a review is necessary from time to time and increases cannot be helped.
Speaking at a National Day light-up ceremony at the Teck Ghee Division of Ang Mo Kio GRC on Saturday, Mr Lee however noted that the Public Transport Council (PTC) is currently doing its work and urged Singaporeans to relax.
First, this idiot says to relax and let the PTC do its work to review the fare, than in the first line, he says that increases cannot be help. WTF. In other words, he is telling us that this review is one big wayang, and the increase is already a foregone conclusion. This kind of double talk is so amateurish, he should take lessons from one of his kekling ministers on how to smoke people properly.
Singapore's two public transport operators, SMRT and SBS Transit, had put in a request to revise fares and the PTC is considering this.
Mr Lee assured Singaporeans that the PTC will look at the interests of the transport companies as well as commuters before making recommendations.
This statement reveals a lot about this asshole. Since when have the interest of private companies be equal to the interests of citizens who voted for him and pay his million dollar salaries? As far as I am concerned, the transport companies are already making profits, they have been taken care off. Who is taking care of the commuters who are jammed into trains everyday.
He said the government will continue to ensure the country has a good and affordable public transport system.
"Our interest is not to help the transport companies make big profits. There is no reason for us to do that. We want good service, we want affordable service. But we have to allow the transport companies to break even and make reasonable profits so that they can provide this good service," he said.
If he does not call these big profits, than what is?
SMRT + SBS Transit (Net Profit)
===============================
2010: S$ 217.163 million
2009: S$ 217.343 million
2008: S$ 190.519 million
2007: S$ 185.812 million
2006: S$ 159.757 million
2005: S$ 178.088 million
2004: S$ 138.537 million
2003: S$ 91.083 million
2002: S$ 91.351 million
2001: S$ 142.445 million
Gay Loong also says that there is no reason for the govt. to help transport make big profits. Now, he is lying thru his teeth.
Lets look at SBS Transit first. Its 100% owned by Comfortdelgro. 20.18% of Comfort's shares are owned by DBS Nominees, which is a 100% wholly owned subsidiary of DBS (which itself is majority owned by the govt.). The SIngapore labour foundation (a stat board) owns another 14.76%. DBSN services (also 100% owned by DBS) owns 10.83%. This is already 45.77% of the common shares. Not to mention that Citibank Nominees (which is a major shareholder of DBS), will throw in its 14.76% shares to vote with DBS Nominees means that in fact, the govt. owns and controls the majority of shares of SBS Transit. This is in effect a nationalised company. Any private individual or company cannot buy up all the shares in the public market and take over the company, as they should be able to do if these companies were truly public companies. The govt. will never let this happen and hence, it controls the majority of shares.
With regards to the SMRT, Temasek Holdings is already 54.37% majority shareholder. Therefore, these transport 2 orgs. are controlled and owned by the govt. It is absoulutely in the interest of the govt. to see these companies make big profit.
Mr Lee added that service standards will also be improved. And that includes issues like waiting time, overcrowding, the frequency of the train services at peak hours.
He said that the government will also make sure, through the PTC, that when the fares are raised they are reasonable and justifiable.
And for Singaporeans who need help to cope with rising costs, Mr Lee assured there will be help schemes.
He noted that Singapore has enjoyed "quite good economic growth this year", but with living costs rising.
He said the government knows this and it has been providing the Grow and Share Package in the Budget for Singaporeans to tide over the difficult times and be able to cope with the higher costs.
So, in other words, the govt. has been the cost of the riing living costs with the huge importation of FTs, and now they will bribe us with our own money to keep quiet.
