1/25/2006

smrt profit up 36%

third quarter profit of smrt rose by 36% over the same period last year to $30 mil. well done smrt. big bonuses coming up. the brilliant management must be thoroughly rewarded for such a sterling performance. they must have improved a lot on their services and other revenue generating projects and decisions. i am very sure the great improvement in profit is not due to the increase in commuter fare. thank you commuters for your contribution.

21 comments:

abao said...

woah, congrats to SMRT on improving their profits yet again.

months later, will they cite higher operating cost and other factors in future as reasons to get a fare hikr in future?

i think it happened in the past, when the major transport companies posted profits and yet suggested a fare hike.(I think that was when the fares rose to 64c?)

redbean said...

this privatisation concept is very dangerous when essential services are concerned. the built in formula is designed to spiral upwards continuously.

and in the case of smrt whose main revenue is fare price, when all avenues failed to generate the expected profit growth, fare price increase will be the most effective and only means to achieve that target.

there is no way for fare prices not to increase under such a formula and concept.

Matilah_Singapura said...

It is temporary proetection - not yet fully privatised in the true sense, because SMRT is still a protected monopoly.

Give it a few years (as the govt sez it will to all GLCs).

....

But I'll believe it when I see it :-)

Anyway, a little free market is better than no free market at all. I support privatization, because EVENTUALLY market forces will prevail. (nature in action)

redbean said...

putting aside the greed of man, our local market is just too small to talk about a free and genuine market to operate under true market forces.

can we afford two mrts to run freely? bus companies maybe. we have them before and enough roads to cover.

Elfred said...

D@mn sarcastic, this article... :D

Happy New Year to you guys and gals... not forgeting the impoverished.

Reddie, don't wanna join me in (say) representing the poor, the aspiring, the whatever? :D

redbean said...

elfred,

there is a time and place for everything. if it is destined that i shall be then i will be.

Elfred said...

Destined...

Quite true. But here, we are somehow aware that alot of absurdities are going on, and let be.

We are either destined to live with it or do something. You know, if you have the chance and you do not, you sin, alongside with those who messed up.

I know many people are wondering... But that's the truth. We need wiser governance... and wiser governance doesn't come by (eg) on thinking on same frequency (Slyvia, WP). (Thinking stressing on same frequency in politics indirectly yields authoritarian, and needless for wisdom. Cos none should expect men to think on same frequency.)

We really need political elements.

redbean said...

elfred,

do you know how absurd it was when the jews hanged jesus, when judas, his disciple, betrayed him?

but nothing can be done. it was all destined to end that way. what god has planned will happen as planned.

Elfred said...

If the MM had thought as you do, history'd have dramatically been changed.

Before history, anything is possible. Who knows what'd happen to me tomorrow... Maybe I'd strike toto, maybe I'd be struck by toto. :D

Come on.

Especially in politics, it's up to one to walk the corners, but what'd turn up for him ain't properly what he'd expect.

To be truthful... while I can easily judge Goh MS not suitable to be political leader... I'd never discount his chance to end up one. Which is all the most why perhaps I would have to join the fray later...

How in the hack can people as he lead over people as us...? It just like getting the blind to find directions for the visually capable... :D

redbean said...

e;fred,

whatever, he walked the walk. that is one thing he has better than you. the other way to look at it is that they are still very green and needs time to mature. you do not need too many lkys around. you need big leaders and small leaders. you need thinkers, and doers.

Elfred said...

Hahahaha... This is the type of mentality I'm most afraid of.

Just because some people choose to jump of the building even if he's not superman but he did so doesn't make him a hero. :D

Definitely not the right 'value system', not in my opinion.

redbean said...

elfred,

li kashing started as a plastic flower assembler in his little flat. at that time no one will want to talk anything serious with him.

heard of metamorphosis?

Elfred said...

Understandable. But if you are refering to Goh MS or myself... I doubt that's applicable.

Zhuge started as a farmer, Guan Yu and Zhang Fei had no regards for him.

Fu Shuo started as a lowly slave, Wu Ding's officials and aristocrats had no regards to him.

But both are great political thinkers... How can Goh MS be the same?

As for myself... If I were a successful businessman... I'd buy my seat to watch this political drama somewhere else on or outside the globe. Maybe watching the fray with Mr Li Kah Shin... :D

redbean said...

elfred,

i don't know what you know about goh ms. but people grow. the more difficult a person is thrown into, the faster one grows up.

never write off anyone unless he has proven himself otherwise.

Elfred said...

I strongly disagree with you on such thinking.

If needs be I can show you again and again he won't change. :D Remember one exchange I had with him in Chinese at YP forum about 'hiding family dirt under the carpet' thingy? If you understand the implication about his thinking, you'd understand why he had shot 'no one owes you a living'.

He is fundamentally too weak in political enlightenment, and he is unlikely even able to fight a PAP minister who'd shout 'if people unhappy with HDB flats why so many still buy...'.

I had purposely entertained him many times, but he only learn on the surface, but the core never changes. Once he entered the battle and situation change, he'd not be about to handle adversities and change them into political capital to be used efficiently.

And to ask me to recognise his leadership... Please don't make me laugh. It's not the Chinese that handicap him. It's his thinking. And people like myself spot a crown as such all too easily.

If you want me to prove him, I'd would, since he so much love a debate with YP member... How about a debate with a retired YP member? Hahahahahaha...

Hahahahahaha...

Only fools will vote for him... 'no one owes you a living...'...

Hahahahahaha...

Sorry... I can't help but laugh. Reddie, come on. but I'd be happy to see him perform this round. I doubt PAP would need big guns to handle him. Hahahahahahaha...

Elfred said...

I am sometime quite sorry for Goh MS... ever since he encountered me, the curse flew with him since.

But if he is smart, he should have realised that politics is really not suitable for him. He's just wasting Mr Low and WP's political capital.

But doesn't mean he has no chance. Note the elements PAP is habitually taking in under usual manner of selection. As long as he doesn't encounter the likes as myself, he'd always have a chance.

Hahahahaha...

'Sweeping things under the carpet' is indeed an enlightened politician's preaching... ...

Hahahahahahahahahahahahaha... ...

From funny to absurd... :D

From 1st world to 3rd world... Hahahahahahaha...

As long as such jokers are around, the one thing I can guarantee is people as myself will happily shun WP. Urgh... not forgeting that smart(alec) Chia TL who deserted his grassroot just to help...(hahahahaha) because of his dignity... :D

With what? Hahahahaha... People help till cannot help then no choice but exit... not because no dignity to stay... Sometimes, you even have to brave caustic remarks or whatever and views to help.

What is a little loss of dignity? :D

redbean said...

elfred,

sorry i did not follow your discussion with gms. but people can change unless they themselves are set in their thinking.

in politics, anything can happen. people are rational as well as irrational. often a donkey can be elected for all the wrong reasons.

when the winds of change starts to sweep through change will come.

Elfred said...

I am not saying the winds won't change. Hahaha... In fact the winds has already started changing in nature.

But for Goh MS, or most for the matter, a political change in the core is not exactly possible.

True. Any donkey could have chance... which is why Soharto can be up there for ages, and KMT can last so long, and Arroyo can still be there.

Sigh... Guess I am really frustrated of late.

Just... Goh's acceptable to you, not me.

redbean said...

i don't rule him out. i did not know him enough.

Elfred said...

Umm... Mark my word, he's a disaster for good governance.

Being popular doesn't mean anything.

People were waving anti-LKY banners in Malaysia, and PAP weren't being chased out to have Mahathir (and his cronies) coming in place...

You know... I am very worried bu the way you and Singaporeans perceive politics...

redbean said...

elfred,

you must allow people to grow. and you must give yourself room to grow too.