Numbers to justify higher fares
SBS Transit quoted $67.4 mil needed for cost increases and rolling out of 100 new buses. SMRT quoted $9.6 mil increases in electricity and fuel and another $11 mil in GST and CPF contributions. The reported quarterly profits of the two companies were $16.4 mil and $32.4 mil respectively. These can be translated to an annual profit of $65.6 mil and $129.6 mil or thereabout. In the case of the SBS, the cost for the 100 buses can be spread over a few years and the profit would still put them in very good shape. In the case of SMRT, wow, $129.6 mil still not enough. Maybe they are right, without this privatisation for profit, they will remain inefficient and the services will be bad. Now with the emphasis on profit everything is good and bright, high profit, high efficiency and on the way towards a world class transport service organisation. If Singaporeans want good quality world class services, they must be prepared to pay more for it. And what is 1 to 3c? Surely these are nothing. And the increases are for their own good. It would be better if the increases are more, then the quality of the services will be better. They may get pipe in music, cold face towel, and pretty hostesses to say 'good morning sir', 'have a good day sir', in the future. And there will be no rushing or pushing or squeezing. Everyone will have a comfortable place to sit and read the papers, or maybe have a cup of tea also. Now that will be nice to pay for a little more.