8/02/2007

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.

7 comments:

Khiat Han Hwee Adrian said...

Hey Guys, What are you waiting for.
BUY SMRT SHARES...

I just got my SMRT Dividend y'day... This company is simply great to invest. Good or bad market, it will never lose money. Lose money? Just raise fare...

redbean said...

bought already and this one to keep long long. yes, sure make money one.

Anonymous said...

Instead of quoting 'increase in operating cost' as an excuse, the operator should have said 'they are required to maintain a minimum bottom line'. Any of us can be the CEO and we don't really need 'forein talent' to manage the operation, and fare increase will 'solve' all the issues.
Looking at the impressive financial results announced by the operator, we must not be misled into believing that the fare increase is justifiable.

Anon.Dimwit said...

U guys are part of the vicious greed conglomerate! :(

All things runs on their purposes, though not all the time run on reason.

U reap what U sow. U take what U give.

There r many ways to profit in a capitalist system. To take advantage n ride the wave & frenzy of profiteering. Like rent house when FT's influx drawing hike in fees. Like sell flat in current HDB frenzy..

Sigh. :(

Anonymous said...

You fellas spoiling!!

Spoiling market and making fares hell for true transport users!
Spoiling the profiteers up there in their unbridled greed!

Will more bus captains be whacked? :(

redbean said...

we all see the true picture. we are a nation of greed. greed is our way of life, our culture.

TuraiKiller said...

To be exact, they are blood suckers <----->$$$$$$$$$$